What do ethics have to do with compliance? Businesses have to have a clear vision of ethical standards and have to understand how compliance filters down throughout the company and how it impacts business performance.The ethical standards that the company wants to operate by must filter down efficiently within the organization. The culture should be founded on openness, humanism, collaboration, and should allow employees to speak up and raise problems which need solving.
Fundamentally, people want to buy from people, and they want to buy from people with a similar value system. This takes compliance beyond rules and regulations, incorporating ethics into business processes rather than imposing a rulebook, which may or may not be read.The compliance world is unrecognizable from where it was even 10 to 15 years ago.
I hope you enjoyed this “excursion” on compliance, ethics, and integrity in doing successful business.