Please discuss the following hypothetical case: A Fortune 500 company is under investigation by the Securities and Exchange Commission for some questionable dealings. Although economic conditions and business are generally good, the stock price has taken a hit because of the negative publicity. The CEO resigned under fire. The Board has resolved to remedy a market perception of potentially unethical or even illegal practices by the corporation. They recruited a new CEO with ethics as a specific consideration. They are determined to turn the company around. The new CEO of this Fortune 500 Company has just been hired largely due to the recommendations of your consultant team. She is acutely aware of the fact that her success and compensation are in part dependent on the company becoming more responsible and accountable in its dealings. She has retained you to advise her on how to make the corporation more ethically responsible. The Corporation currently pays minimal attention to values and ethics. There are some mandated classes and HR forms, but ethical behavior is generally viewed as an inconvenient interruption of the business of making money. The new CEO has been told by the Board that she must start making a difference in the company immediately. She is concerned, however, that her actions have a long term effect, and are not short term PR stunts. She is certain a short term fix will backfire. The CEO has commissioned your team to make recommendations for her management team. You are to report back to her and her team at least five concrete actions they can implement to start moving the company towards both the perception and the reality of being more ethically responsible. As a class, discuss what concrete steps should be on that list.
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