~ E * T * H * I * C * S ~

With a so many scams and scandals in the news today one begs to know, what do ETHICS really mean?

These just some scandals from the past couple years that I remember…

* KPMG
* Martha Stuart
* Enron
* Lucent
* WorldCom
* AOL
* Quest
* Xerox
* Ahold
* Fannie Mae
* Bristol Meyer Squibb
* Tyco
* Vivendi Universal
* Global Crossing
* Quest
* Baan
* Barrings Bank
* Andersen

Obviously it is unethical when one tries to steal from some one else? What about lying? I am guessing that is unethical too, considering Martha Stewart and couple other corporate Executives have received jail term for lying.

I took some time to research corporate slogans and found a very large percentage of fortune 500 companies claimed their “improving consumer life” as their motto. Is this really true? ABSOLUTELY! But is it the complete truth? No way. The key part missing in these mottos is with commitment to our shareholders.

Many of these same corporations will abandon projects they will improve consumer lives but may be unprofitable to the shareholders. Is this ETHICAL?

It is believed tobacco companies make a harmful product. Society believes it is unethical to make a poisonous product and then get the consumer hooked on it, but how about shopping chains that cause bankruptcies? The list could go on for ever and ever.

A recent spate of B-School admission system hackings exposed our future business leaders that failed their first test in integrity. During a conversation with a close friend the discussion lead to exploring these hacking in light of competitive intelligence. If corporations spend hundreds of thousands on gathering competitive intelligence why is it unethical to tap an opportunity window to gather similar competitive intelligence in the admissions process?

If it is ethical to tap loop holes in the tax system legally why is it unethical to take bonuses and compensation that the likes of Dennis Kozlowski have been convicted for? Is the fault with the individual or a broken system? Even Adam Smith said an individual is driven by societal needs and an invisible hand.

So what is the final word on Ethics?