The Challenge of Ethical Leadership
"We have met the enemy, and he is us." - Pogo author, Walt Kelly.
In the July/August 2010 edition of the CFA Magazine, there's an article titled 'The Challenge of Ethical Leadership' where Jim Ware, founder of Focus Consulting Group and author of 'High Performing Investment Teams', asks the question: "Why do firms often engage in practices that betray their own principles (and best interests)?
Besides the moral case for good ethics, there's also a business case, which CFA charter holders understand all too well. Now more than ever, the investment industry needs strong ethical leaders. Investment firms all around the world are dealing with more compliance and legal regulations than ever before, so why not be ethical?
One theory behind unethical behavior, according to Scott Stevens, professor of computer information systems and management science at James Madison University, is the 'Prisoner's Dilemma' - If we take the high road and the other party takes the low road, we will lose. As investors we have a responsibility to encourage and reward ethical behavior because ultimately we shoulder the costs of unethical behavior. If you'd like a framework for judging good ethical behavior, ask us for a copy of the CFA Institutes Code of Ethics and Standards of Professional Conduct at yourlifeyourplan.ca or all 250-868-5525.
GB
In the July/August 2010 edition of the CFA Magazine, there's an article titled 'The Challenge of Ethical Leadership' where Jim Ware, founder of Focus Consulting Group and author of 'High Performing Investment Teams', asks the question: "Why do firms often engage in practices that betray their own principles (and best interests)?
Besides the moral case for good ethics, there's also a business case, which CFA charter holders understand all too well. Now more than ever, the investment industry needs strong ethical leaders. Investment firms all around the world are dealing with more compliance and legal regulations than ever before, so why not be ethical?
One theory behind unethical behavior, according to Scott Stevens, professor of computer information systems and management science at James Madison University, is the 'Prisoner's Dilemma' - If we take the high road and the other party takes the low road, we will lose. As investors we have a responsibility to encourage and reward ethical behavior because ultimately we shoulder the costs of unethical behavior. If you'd like a framework for judging good ethical behavior, ask us for a copy of the CFA Institutes Code of Ethics and Standards of Professional Conduct at yourlifeyourplan.ca or all 250-868-5525.
GB
posted by Gordon Bell at
7:15 PM
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