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Learning from mistakes

Filed in archive Ethics by leon on September 22, 2006

Learning from mistakes
What are the tell-tale signs of a business train wreck?

Marianne Jennings, a professor of legal and ethical studies at the W. P. Carey School of Business, identifies seven warning signs.

She goes into some detail explaining them: pressure to maintain numbers, a climate of fear and silence, a larger-than-life CEO surrounded by a sycophantic management team, usually made up of young inexperienced direct-reports yearning to be touched by greatness, a weak board, conflicts of interest, a drive for vision and constant innovation that results in hubris and blindness and focus on philanthropy and corporate social responsibility that maskslinks rigged accounts and cooked books.

The last one is at first surprising but she's not wrong.

After all, Enron won six environmental awards in 2000 and published all its achievements in a report on economic, environmental and social performance. Its code of ethics ran to 64 pages.


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Permalink: Learning from mistakes
Tags: Marianne  Jennings  ethics  business  corporate  mistakes  hedge+funds  corporate+governance  philanthropy+c 

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Related Entries:

Ethics lesson from HP - 10 January 2007

Common Distance Learning Mistakes - 15 March 2007

Ethics in international business - 01 May 2007

The downside of charismatic leaders - 29 October 2007

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