Maintain your old Siemens Hipath system

Enron?s Ultimate Victim: Ethics

FROM the 'MORAL HIGH GROUND', where we imagine ourselves, the Enron fiasco should have come as no surprise. Enron is simply a quintessential example of the degradation of principles such as trust, loyalty and ethical standards.

Why it happened,however,is what really needs to be understood if business is to restore its ethical foundation and survive tumultuous times.

Few will argue that business today is more challenging and competitive; most everyone accepts that the marketplace is more cutthroat than ever. We live in a dog-eat-dog world where for most, corporate survival is focused on just trying to not get eaten.

Not long ago, things were not so ruthless, or so we'd like to think. Companies had a tacit understanding with their employees: the company will always be there for you. The expression, "I'm a company man," once represented the unquestioned relationship between employees and employer. The company was our family, and families looked out for one another. Anything less was considered disloyal and unacceptable.

The 1990s ushered in changes that still exist today. The 90's also started us on the slippery slope that altered the ground rules for ethics and basic corporate loyalty. Call it downsizing, rightsizing or realigning, but dedicated employees suddenly found themselves on the outs with new, supposedly competitive, corporate initiatives that were sold as necessary to keep companies viable. Keeping viable sometimes meant severing long-serving employees, who were left disillusioned, betrayed and often unarmed to fend for themselves.

Pre-1990, the downsizing of corporate workforces was inconscionable. Companies had an obligation to look after their people, didn't they? Apparently, they didn't. The targets of the realignment strategies were the suddenly "overpriced," tenured employees. Survival strategies were designed to replace higher-income staff (in reality, those who had given the most to the company) with less experienced workers to reduce payroll expenditures.

Cuts in tenured staff were easy to justify providing you bought into the argument that older employees were redundant, i.e., bereft of computer skills. There was some legitimacy to this, but therein lies one of the clearest examples of expediency and cost-cutting prevailing over loyalty and ethics.

It was train existing staff or replace them with young techno-grads at half the price. History demonstrates the route most companies took. It also marked the beginning of the separation of trust between employees and their companies. There is little loyalty left.

Today, employees lucky enough to have outlived the 90's occupy many of the corner offices on the executive floors. Those who write the cheques and run the companies are the surviving veterans of the last decade, well-trained in guerilla management now unfettered by moral obligations for traits such as loyalty or ethics.

This is not to cast aspersions upon today's executives but to show how "Enronesque" outcomes can result when industries abandon components essential to sustaining moral values.

Ethics and morality have taken a backseat in business, and there is no greater example than the outgoing settlement cheques being issued to Enron execs. At the same time, 20- and 30-year Enron employees are losing their entire retirement portfolios.

Executives cannot be held totally to blame. They are victims themselves, the byproduct of those well-trained in the new business religion. Most new executive contracts include a Parachute Clause, insurance against the executive or company who wants to part ways. The practice is ethical but, in my opinion, another example of a breakdown in loyalty. It all but promotes failure.

Parachute Planning is analogous to a prenuptial. The purpose and logic is understood. The facts speak for themselves. I read recently that reported 98.9 per cent of prenup-weddings in North America fail within three years. From another perspective, it appears there are now tangible rewards for failure or disloyalty.

The Bottom Line:

Ethics, trust and loyalty are still there. Fundamental values have not changed. Companies who buck the "all-for-me" trend to garner respect and trust will benefit everyone, but it will take time.

About The Author

Author, corporate coach, international keynote speaker and president of Success 150 Group Inc., Suite 458, 7305 Woodbine Ave, Markham, Ont.L3R 3V7

T: 416-728-5556 / 1-866-855-4590

E: paul@success150.com

W: www.paulshearstone.com, http://www.success150.com

In The News:

Fashion icon and Chanel boss Karl Lagerfeld dies - reports
Tue, 19 Feb 2019 11:20:00 +0000
Fashion legend Karl Lagerfeld has died at the age of 85, according to French media reports.

Sixteen rescued after being trapped on SeaWorld ride for hours
Tue, 19 Feb 2019 09:25:00 +0000
Sixteen people have been rescued after getting trapped on a ride at SeaWorld for four hours.

Official who oversaw Trump-Russia inquiry to step down
Tue, 19 Feb 2019 09:48:00 +0000
One of the US government's most senior lawyers who oversaw the investigation into links between the Trump presidential campaign and Russia is to step down, a justice department official has said.

Scrapping for food to survive: Inside the frontline of Yemen's war
Mon, 18 Feb 2019 16:09:00 +0000
Yemen's warring parties have agreed to withdraw their forces from Hodeidah - providing fresh hope for the fragile ceasefire in the city.

Hunt for Briton and his friend after belongings found on beach
Tue, 19 Feb 2019 01:56:00 +0000
A British man has gone missing from a popular beach north of Sydney in Australia.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Enron?s Ultimate Victim: Ethics

FROM the 'MORAL HIGH GROUND', where we imagine ourselves, the... Read More

Business Ethics: The Law of Corporate Karma

According to the shamanic traditions, the great mystery of being... Read More

How To Detect Liars In Your Business & Personal Life

We live in a world full of lies and deception.... Read More

Top 10 Principles for Positive Business Ethics

This morning, I read about a company using on-line auctions... Read More

Diversity

I know that diversity has been a big topic of... Read More

Financial Projections in Business Plans

One of the most difficult sections to write in a... Read More

Is Good Neighborliness Good Business?

[Note: This story is not a criticism of Buddhism. It... Read More

Work Ethics ? A Paradigm Shift

Work ethics is a hot topic in today's business and... Read More

The Only Thing You Get for Free in Life is Hungry!

My grandfather was a very wise man. Simple but wise.... Read More

The Everyday Business Ethics Crisis Or Im Mad as Hell and Not Going to Take it Anymore

Breaking news may feature the Enron debacle, WorldCom activities, or... Read More

Dont Hate Them Because Theyre Beautiful

Tonight I'm going out with two extremely impressive ladies who... Read More

Brain Development and Due Process

DUE PROCESSAfricans, especially Nigerians are stereotyped on the internet and... Read More

Six Reasons to Give

If you run a business, you undoubtedly feel many pressures... Read More

The Armaments Industry and Holy (?) Roman Emperors

"The time for fixing every essential right on a legal... Read More

Mind Your Own Damn Business Sexcess

You have certainly heard the expression "mind your own damn... Read More

MacDonalidisation: Braverman, Taylor & Mayo

Background: George Ritzer defined McDonaldization as "...the process by which... Read More

Private Carrier Pepsi Embraces Diversity Amongst Employees

Many companies claim to be committed to diversity, but private... Read More

Are You Selling Out Your Integrity?

Integrity in business is a quality that is highly under-rated... Read More

The Social Implications of Computing

Directed by Mark Harrison, "Visions of Heaven and Hell" is... Read More

Ethics In The Workplace

Workplace Ethics is a subject that we have all heard... Read More

Is Your Management Style Lead By Intimidation?

So many women make the mistake of thinking that they... Read More

Vice of Buggery at FTC

At the Federal Trade Commission we have seen attorneys who... Read More

Tales from the Corporate Frontlines: Work Ethics and the Customer

This article relates to the Ethics in the Workplace competency,... Read More

Business Ethics: Functional Choices

Years of experience have taught me there is no such... Read More

Business Ethics: An Oxymoron?

Why do I believe good PR and business ethics are... Read More