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Ethics, Integrity, Trust

Ethics, Integrity, Trust. Bruce Blessington Chairman - Flight Landata, Inc. Former CEO - Ferraris Group Director - Seabrook International. Member, Board of Advisors – Boston Private Bank Certified Director- National Association of Corporate Directors (NACD)

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Ethics, Integrity, Trust

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  1. Ethics, Integrity, Trust Bruce Blessington Chairman - Flight Landata, Inc. Former CEO - Ferraris Group Director - Seabrook International. Member, Board of Advisors – Boston Private Bank Certified Director- National Association of Corporate Directors (NACD) Member- Institute of Directors - London

  2. Why bother with this stuff? • Adherence to ethical standards is an indivisible part of a business organization’s responsibility to all stakeholders and ultimately influences its survival. • A counter weight is needed to the huge emphasis placed on individual performance in MBA programs and in organizations. The “what’s in for me syndrome”. • Better – “What’s in it for us.”

  3. Teaching Ethics • Difficult task after character is formed by experience. • Provide principles (“rules of engagement”). • General principles • Recognizing conflicts of interest • Business cultures that promote integrity • Decision making concepts (“the harder right”).

  4. General Principles • Organizations need to internalize their values and be ready to live up to them even when it’s very costly. • Just because its “legal” or socially acceptable doesn’t mean its ethical. • “Going along to get along” is a crisis, a crisis of agreement! Boards are highly susceptible. Courage needed!

  5. General Principles (cont’d) • Organizations need to continuously reinforce their ethical standards, top down, formally and informally, by discussion and by example. • People and organizations don’t become bad all at once. • Take no such action, that if you were later called to testify about it under oath, you would be faced with the stark choice of: • Appearing foolish, venial, criminal or • Committing perjury to avoid a.).

  6. Conflicts of Interest, Culture and Decision Making • Conflicts of Interest • Identify, Disclose, Insulate • Culture • Intense focus on short term results creates an anti-ethical environment. • Decision making • The “Harder Right” – the decision that most positively effects the widest possible circle of people sometimes involving personal sacrifice by an individual.1 1. The West Point Way of Leadership – L. R. Donnithorne

  7. Building Trust • Consistency counts! • It’s essential to engage in principled behaviors: • Respect for others • Fairness, • Clear communication of corporate goals • Telling the truth • These behaviors will see you through turbulent times especially when you have to make tough decisions.

  8. Real Life Ethical Dilemmas • The Dodgy Directors • The Felon in the Payroll Department. • The Medical Nightmare.

  9. “A life lived without a strong moral, ethical code is not a life worth living.” Larry R. Donnithorne Col. USA (Ret.)

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