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Business Ethics: An Oxymoron?
Why do I believe good PR and business ethics are inextricably linked? It comes down to definitions. Ethics is learning what is right and what is wrong and then doing the "right thing." PR involves providing counsel on the "right thing" to do and then helping the organization get credit for it.
The business and political excess of the last 10 years have taken some PR practitioners to the dark side because they felt it was the only way for their company to profit. Although I personally believe doing right for right's sake is enough, there are some who may not share this view. OK, here's a reason that any good capitalist can embrace: research now shows that socially responsible behavior is good for the bottom line.
A recent analysis of overall financial performance of the 2001 list of 100 Best Corporate Citizens shows that this group of firms did significantly better than the remaining companies of the S&P 500. Professors at DePaul University found that the mean ranking of the 100 Best was more than 10 percentile higher than the other firms of the S&P 500.
Additionally, they had a significantly better reputation among corporate directors and security analysts based upon results of the Fortune Magazine survey of most admired companies.
So, you see, it really does pay to do the right thing.
Harry Hoover is managing principal of Hoover ink PR. He has 26 years of experience in crafting and delivering bottom line messages that ensure success for serious businesses like Brent Dees Financial Planning, Levolor, New World Mortgage, North Carolina Tourism, TeamHeidi, Ty Boyd Executive Learning Systems, VELUX, Verbatim and Youth Link USA.
Los Angeles Times, CA - 9 hours ago
By Bill Boyarsky Five years ago, when I joined the Los Angeles City Ethics Commission, I was new to government, a bit wide-eyed about what I'd be able to ...
A 'green' industrial belt should run through it Los Angeles Times
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Salt Lake Tribune, United States - 9 hours ago
Monday morning, the eight-member House Ethics Committee will meet to consider bribery allegations and other claimed ethics violations against Rep. ...
Walsh: GOP today is barely recognizable Salt Lake Tribune
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Ottawa Citizen, Canada - 8 hours ago
Margaret Somerville mentions that she taught a course on euthanasia, and at the end of course she felt that she was "hitting a stone wall" because she had ...
Business Standard, India - Jul 5, 2008
The organisations also called for more training courses in professional ethics to be introduced for workers in service industry and greater efforts to be ...
News-Leader.com, MO - 8 hours ago
Their ethics reform proposals are aimed directly at Jetton, who's been consulting and raising money for fellow Republican members' campaigns since 2004. ...
Philadelphia Inquirer, PA - 9 hours ago
By Henry J. Holcomb College business schools are taking a hard look at how they teach ethics, looking for ways to help graduates think and prevent future ...
Javno.hr
Los Angeles Times, CA - Jul 2, 2008
Moody's Corp. ousted a senior executive Tuesday and said employees violated ethics guidelines in assigning top ratings to complex securities that ...
Moody’s cops to unethical conduct CNNMoney.com
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Salt Lake Tribune, United States - Jul 4, 2008
My friend, a young artist at the start of his career, offered to sell me a 1 percent share in him for $9000. I would receive a portion of his lifetime ...
Washington Times
The Associated Press - Jul 1, 2008
WASHINGTON (AP) — A watchdog group asked the Senate ethics investigators on Tuesday to look into whether Sen. Norm Coleman's living arrangement on Capitol ...
Group urges Coleman rent deal inquiry Minneapolis Star Tribune
Sen. Coleman accused of ethics lapse for DC housing arrangement Pioneer Press
DC group asks Senate ethics panel to review Coleman's housing ... MinnPost.com
Minnesota Public Radio - Minneapolis Star Tribuneall 236 news articles
Jackson Clarion Ledger
Jackson Clarion Ledger, MS - 14 hours ago
I will be doing something I think is completely unethical, under different circumstances, this month. I will be baiting a fishing hole. ...
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