| Date: 18 & 19 May 2012 Trainer: Theodore Panayotou Location: CIIM Building, Nicosia
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Overview
Increasingly, shareholders, customers, employees, the media and other stakeholders, including the public, are placing demands on business to be ethical and socially responsible, demands that are constantly becoming more complex and more challenging. The growing number of scandals and of businesses that go bankrupt as a result of ethical misconduct attest to the imperative of making ethics an integral part of doing business.
This session provides the insights and he means to appreciate and understand these challenges so that business leaders and senior executives can meet the ethical expectations of society more effectively, while they continue to create value and advance the long-term interest of their firms. Business ethics helps improve decision-making by providing executives with the knowledge and tools to correctly identify, diagnose, analyse and resolve the ethical dilemmas they are confronted with. The dilemmas go beyond the simple choice between right and wrong to the tough choices between right and right and between wrong and wrong.
- How far can the rules be bent before they break?
- Where does the strategy end and ethics begin?
- Can you do well and do good at the same time?
- Why do socially responsible firms seem to be doing better financially than their competitors?
These are some of the questions addressed in this session: ethics in finance, in accounting, in human resource management, in marketing, in strategy and in international business.
Objectives
The objectives of the programme are to learn:
- How to respond to society’s changing ethical values and rising expectations for more accountability.
- How to interpret and respond to changing trends abroad that will soon impact business in Cyprus.
- How to identify, diagnose, analyse and resolve ethical dilemmas you are confronted with.
- How to identify and resolve conflicts of interest before they damage your organization.
- How to anticipate and pre-empt emerging threats to the image and reputation of your company.
- How to use codes of conduct to maintain employee motivation and customer loyalty.
- How to reconcile an aggressive business strategy for value creation and growth with your corporate social responsibility.
- How to gain competitive advantage and goodwill through the triple bottom line of sustainability.
Audience
The course is intended for senior managers who have responsibility for teams including CEOs, members of senior management teams and any senior manager with significant responsibility; generally senior managers who are the decision makers within their organisations.
Faculty: Theodore Panayotou
Professor Panayotou has been on the faculty of Harvard University for the past 20 years. He established and directed for many years the Environment and Sustainable Development Programme (ESD) at Harvard. He teaches Economic Analysis for Public Policy and Advanced Environmental Economics, at the postgraduate level at the John F Kennedy School of Government at Harvard. Before Harvard, Dr Panayotou was a senior economist with the Rockefeller Foundation (New York). While at Harvard he served as advisor to the governments of the US, China, Indonesia, Russia, Eastern Europe, Central America, Brazil and East Mediterranean. He has been consulted by many international organizations, including the World Bank, UNDP, UNEP, UNIDO, FAO, USAID as well as private businesses.
At CIIM, Professor Panayotou teaches Corporate Environmental Management and Ethics in Business and Government. He has also directed the Institute for the past four years while on sabbatical and partial leave from Harvard. He has published over a hundred papers, monographs and books and is considered a world authority on economic instruments and financing mechanisms for sustainable development. His most recent book, Environment for Growth (ed)., is published by Harvard University Press.
Content
The case for and against ethics in business
- Why the law cannot do it
- Society’s rising expectations
- Market failures
- Unconscious bias
- The central role of trust
Analysing and resolving ethical dilemmas in eight steps
- Everyday ethical dilemmas
- Ethical dilemmas in the workplace
- Ethical dilemmas in the marketplace
Ethical Theories
- Consequential list
- Non-consequentiality
- Right and virtue
- Rawlsian theory of justice
- Stakeholder theory
Group-work on resolving ethical dilemmas
- Human resources issues
- Conflicts of interest
- Customer confidentiality issues
- Use of corporate resources
Video: PBS “bigger than Enron”
- Developing a set of core values and a code of conduct
- Developing a culture of Ethical behaviour
- Building trust and protecting reputation
- Courage as a leadership skill
- Dealing with crisis
Corporate Social responsibility
- The conventional approach to CSR
- The new approach to CSR; integrating business & society
- Integrating CSR with corporate strategy ad the value chain
- Creating value for business and society
- Market response to corporate social initiatives
Codes of Conduct for employee motivation, customer loyalty and reputation management
- Corporate Social Responsibility II
- Competitive advantage through the triple bottom line of sustainability
Case discussion and analysis
- “Procter & Gamble vs Uniliver – a case of corporate espionage
- Sherron Watkins “Ethical conflicts at Enron- moral responsibility in corporate Capitalism
- Insider Trading scenarios
Fees and General Information
This seminar is approved and subsidized for the amount of €350 by the Human Resource Development Authority (HRDA). HRDA sponsors companies that satisfy their criteria.
The fees are €1350 per participant for companies eligible to HRDA subsidy and €1700 per participant without HRDA subsidy.
This individual session is part of the Executive Leadership Programme.
It is possible to attend this individual seminar should places be available.
Fees include tuition, educational materials, coffee breaks and meals.
Due to CIIMs non-profit status NO VAT is charged
