Ethical Business Practice and Regulation : A Behavioural and Values-Based Approach to Compliance and Enforcement.

Format:

Book

Author/Creator:

Hodges, Christopher.

Contributor:

Steinholtz, Ruth.

Series:

Civil Justice Systems

Language:

English

Subjects (All):

Business ethics.

Corporate governance.

Physical Description:

1 online resource (353 pages)

Edition:

1st ed.

Place of Publication:

London : Bloomsbury Publishing Plc, 2017.

Summary:

This book explains the concepts of Ethical Business Practice (EBP) and Ethical Business Regulation (EBR), a new paradigm in compliance and enforcement based on behavioural science and ethics. EBR provides the basis for an effective relationship between a business and its regulators, resulting in better outcomes for both. EBR is attracting extensive attention from regulators and businesses around the world. The UK Government's 2017 Regulatory Futures Review draws on EBR as the foundation for its policy of 'regulatory self-assurance'. EBR draws on findings from behavioural science, responsive regulation, safety and business and integrity management to create a practical and holistic approach. Examples include the open culture that is essential for civil aviation safety, the Primary Authority agreements between regulators and national businesses, and feedback mechanisms provided by market vigilance systems and sectoral consumer ombudsmen. This book provides an essential blueprint for sustainable business and effective future regulation.

Contents:

Intro

Acknowledgements

Contents

List of Figures, Tables and Boxes

List of Case Studies

List of Abbreviations

Preface

Part I: The Ideas

1. Why Do People Conform to Rules or Break Them? Piecing Together the Evidence

How the Brain Produces Behaviour

The Need to Check

Bending the Rules

People Think They Comply, Even if They Don't

Targets, Stress and Mixed Messages

Group Culture

How Do We Apply This Knowledge?

Conclusions

2. Characteristics to Build on

Ethics are Innate in Humans

Levels of Development of Human Psychological Consciousness and Organisations

The Importance of Fairness in Observing Rules

3. The Traditional Way of Enforcing the Law: Deterrence

Problems with Deterrence

The Example of Competition Law

Incredible Deterrence

Shifts to Enforcement against Individuals

Shifts from Deterrence

Reputation and Identification

What Many UK Enforcers Actually Do

Science Not Theory

A Repressive Society or an Open Collaborative Society?

Stages in the Development of Human Society

4. Fair and Proportionate Measures

Fairness in Response to Wrongdoing: We Don't Just Go Soft

Proportionate Responsiveness

Case Studies

5. The Need for Cooperation

Cooperation is Essential for Business

An Adult-Adult Relationship

Organisational Structures

Monitoring Systems: Constant Circulation of Information

A Cooperative Model of Regulation

Some Examples of Coordination in Regulation

6. Trust Within and in Organisations

Compliance with Rules is Socially Constructed

The Importance of Trust

Evidence for Placing Trust

Aberrant Personalities: Trust and the Unemotional

Shifts in Corporate Values

7. How to Learn and Improve Performance: An Open Culture without Blame.

Blaming Prevents People Sharing Information

The Root Causes of Accidents

Aviation Safety Research

Safety Regulation in Civil Aviation

The Current Approach of the Civil Aviation Authority

Accountability and Responsibility in a Just Culture

Boards and Just Culture

An Elusive Open Culture: The NHS

The Importance of an Educated Public Response

8. Why Should We Be Ethical? Ethical Business Practice as Sound Commercial Strategy

The Social Licence to Operate

Job Satisfaction, Focus and Efficiency

The Financial Rewards of Ethical Culture

Ethical Business Practice as a Sound Regulatory Strategy

Being Unethical Causes Damage

Part II: Where We are Now

9. The Status of Corporate Governance

The Conflict between Ethics and Profits

The Mirage of Maximising Shareholder Value

Can Corporate Structures Impede Ethical Behaviour?

Ethical Structures Tend to Be Open and Flat

Corporate Governance and Culture: International Statements

Restoring Confidence in the City of London through Corporate Governance and Culture

Taking a Long-Term View

Room for Improvement in Ethical Business Practice

A Shortfall in UK Employee Engagement

The Global Level

10. The Status of Regulatory Policy

Reinterpreting Regulation

UK Government Policy on Better Regulation and Enforcement

Changed Approaches by Regulators

Regulatory Pluralism: Multiple Influencers

Supporting Self-Assurance by Business

Regulators Supporting Business Growth

Regulators and Others in Authority: Hindrance or Help?

Part III: What is Ethical Business Regulation?

11. Ethical Business Regulation

Establishing EBR

Measures of EBP

The EBR Relationship

Responding to Adverse Events: Resisting the Impulse to Blame

Conclusions: Reasons to Adopt EBR.

12. Developing Examples of Ethical Regulation

Civil Aviation

The Primary Authority Scheme

Food Standards

Workplace Health and Safety

Energy

Equality and Human Rights

Water in Scotland: Prices and Wider Issues

Nuisance Calls in Scotland

Bribery and 'Adequate Procedures' to Prevent it

Product Manufacturers

Financial Services: Regulation Will Be Inadequate Without an Ethical Culture

Conclusions from the Evidence across Different Sectors

Part IV: How to Implement Ethical Business Practice and Ethical Business Regulation

13. The Cultural and Leadership Framework for Ethical Business Practice in Organisations

Introduction to EBP

The Primacy of Culture

Consciously Managing Organisational Culture

Establishing the Organisation"s Core Ethical Values

Full and Consistent Commitment to Ethical Values

An Articulated and Inspirational Social Purpose

Ethics is Everyone's Responsibility

People and Ethos

Collaborative Atmosphere

Performance Management Systems and Incentive Schemes that Support EBP

14. The Ethics and Compliance Framework: Values Orientation

Focusing Mainly on Compliance is Not the Answer

Instilling the Ethical Approach: A Shift in Emphasis

Codes of Ethical Business Practice

How Do We Know What the Right Thing to Do is?

Ethical Dilemmas, Ethical Decision-Making Models and Scenario-Based Training

Responding Ethically When under Stress: Time Matters

Resources of Information, Education and Advice

Promoting an Open Culture and Speaking up

When All Else Fails, External Whistleblowing

Monitoring, Measuring and Reporting

Appendices

Appendix 1: EBP in Organisations

Appendix 2: Actions to Support EBR.

Appendix 3. The US Department of Justice's Evaluation of Corporate Compliance Programs: Sample Topics and Questions

Notes

Index.

Notes:

Description based on publisher supplied metadata and other sources.

Part of the metadata in this record was created by AI, based on the text of the resource.

ISBN:

1-5099-1637-7

OCLC:

1150181209