Livingstone - Business Consultants
RSS Feed

FIFA Debacle

22 Jun 2015

The audacity and the sheer size of the corruption in FIFA staggers us. And as Joe Bennett in the Press recently commented, isn’t this what can occur in business too with major international banks fined for fixing exchange rates or recycling vast sums of drug money.

How can such practices be stopped before they start? Yes, right at the top with the Board. The need to adopt sound codes of practise incorporating sound values and ethics to develop the culture desired in any business is a major risk protection move.

The Board then has a firm ethical basis for making and for protecting its goodwill and reputation. Also, by ensuring new board appointees believe in the organisation’s values and ethics, there will be consistency in their application and, if applied to all executive and staff appointments, the whole organisation will be enhanced and the corruption risk disappears.

A business owner, recently when commencing a new business, decreed that he would only invest in a proposed new venture if all staff were selected on the Livingstone approach of ensuring the applicants values and ethics match those of the proposed company. His comments were “In my previous business we stopped employing the wrong staff once we adopted your methods”. Heart - warming stuff but simple really – only employ people who match your values and ethics and prevent any chance of corruption.

Eric Livingstone

Tags: Board Member, Board Risks, Boards, Business, Governance, Responsibilities, Risk

There are no comments - be the first! | Permalink

Post a comment

(This is the name your post will be shown under)
(Your email address will not be shown)
(If you can see this, you need to enable Javascript and CSS and refresh your browser. You will be unable to post a comment.)

Get our monthly newsletters

If you are interested in receiving our complimentary e-newsletters please sign up using the form below. Past e-newsletters can be accessed via our blog.

Crafted by Shard Web Design