Business Ethics: An Oxymoron?

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Business Ethics: An Oxymoron?

Business Ethics: An Oxymoron?

Why do I believe good PR and business ethics are inextricably linked? It comes down to definitions. Ethics is learning what is right and what is wrong and then doing the "right thing." PR involves providing counsel on the "right thing" to do and then helping the organization get credit for it.

The business and political excess of the last 10 years have taken some PR practitioners to the dark side because they felt it was the only way for their company to profit. Although I personally believe doing right for right's sake is enough, there are some who may not share this view. OK, here's a reason that any good capitalist can embrace: research now shows that socially responsible behavior is good for the bottom line.

A recent analysis of overall financial performance of the 2001 list of 100 Best Corporate Citizens shows that this group of firms did significantly better than the remaining companies of the S&P 500. Professors at DePaul University found that the mean ranking of the 100 Best was more than 10 percentile higher than the other firms of the S&P 500.

Additionally, they had a significantly better reputation among corporate directors and security analysts based upon results of the Fortune Magazine survey of most admired companies.

So, you see, it really does pay to do the right thing.

Harry Hoover is managing principal of Hoover ink PR. He has 26 years of experience in crafting and delivering bottom line messages that ensure success for serious businesses like Brent Dees Financial Planning, Levolor, New World Mortgage, North Carolina Tourism, TeamHeidi, Ty Boyd Executive Learning Systems, VELUX, Verbatim and Youth Link USA.

In The News:

ProPublica
Ethics group urges investigators to probe lobbyist involved in Owens trip
WatertownDailyTimes.com
By BRIAN AMARAL A public ethics watchdog wants federal ethics investigators to probe a lobbying firm that arranged Rep. William L. Owens's trip to Taiwan. In a letter sent Wednesday to the Office of Congressional Ethics, officials from Public Citizen ...
Owens Welcomes Ethics ProbeWWNY TV 7

all 4 news articles »

USA TODAY
Justice ethics report finds misconduct by Stevens prosecutors
Anchorage Daily News
By PETE YOST AP WASHINGTON — The Justice Department's internal ethics watchdog said Thursday that two prosecutors in the bungled corruption case against then-Sen. Ted Stevens engaged in reckless professional misconduct by failing to disclose ...
Ted Stevens Case: Justice Department Says Two Prosecutors Engaged In MisconductHuffington Post
Justice Dept. probe finds misconduct by prosecutors in Stevens trialCNN International
Justice Dep't: Misconduct by 2 in Stevens caseWBRC

all 249 news articles »

McKenna faces 2 ethics complaints over county work
The Seattle Times
A lawyer and a citizen have each filed ethics complaints against Republican gubernatorial candidate Rob McKenna. The Associated Press Note to Kyle Olive and Kimberly Christensen (and the note would be the same regardless... (May 24, 2012, by Creasy ...
McKenna faces 2 ethics complaintsTheNewsTribune.com

all 22 news articles »

Man leading ethics probe of Baptist leader resigns
The Daily Advance
(AP) — The head of a group investigating the comments of Southern Baptist Convention ethics leader Richard Land has resigned. Arkansas pastor Richard Piles said he has taken over as Trustee Board chairman for the Ethics and Religious Liberty ...
Southern Baptist committee head resigns in Richard Land ethics caseThe Tennessean
Investigation re: Baptist spokesman's commentsOneNewsNow

all 67 news articles »

Board Dismisses Ethics Complaint Against Two Aldermen
Patch.com
There is no conflict of interest by members of the Common Council also serving on the Waukesha County Board of Supervisors, Ethics Board rules. By Sarah Millard Alderwoman Kathleen Cummings, sitting, listens to the Ethics Board discuss a complaint ...

and more »

NEWS.com.au
News Summary: News Corp. lobbyist testifies on UK government contacts to ...
Washington Post
ETHICS PANEL: Lobbyist Fred Michel talked Thursday to the Leveson Inquiry into media ethics that the British government created because of the hacking scandal. Copyright 2012 The Associated Press. All rights reserved. This material may not be published ...
British Inquiry Questions Murdoch LobbyistNew York Times
Adviser pulls Cameron into storm over HuntFinancial Times
British PM David Cameron appointed 'known Murdoch supporter'The Australian
Daily Beast -Huffington Post -Ventura County Star
all 1,270 news articles »

Ex-SEC Attorney Barred for 1 Year Over Stanford Ethics Lapse
BusinessWeek
Spencer Barasch, who participated in the SEC's investigation of R. Allen Stanford's $7 billion Ponzi scheme, performed private legal work for Stanford Group Co. about a year after leaving the agency even though its ethics office had told him he was ...
SEC sanctions ex-staffer who represented Stanford CoReuters
SEC Bars Former SEC Employee On Alleged Conflict Of InterestWall Street Journal

all 4 news articles »

Essex County Ethics board reprimands Keene super
Plattsburgh Press Republican
ELIZABETHTOWN — The Essex County Ethics Committee issued a decision reprimanding Keene's supervisor for using town gas. Its findings came Thursday after a six-week review, saying the committee believes Bill Ferebee's use of 14 gallons from the town ...

Ethics should guide Vanderbilt investments
The Tennessean
Thousands more participated in the movement for ethical investment by producing, showing and sharing media, and hosting dozens of teach-ins including a march on the Board of Trust in November and a teach-in with more than 50 faculty and students at the ...

and more »

Boynton expense fund is an ethics risk, county says
Sun-Sentinel
A Palm Beach County ethics officer said recently that restrictions on the reimbursement funds are ambiguous and elected officials don't have to report how they spend it. And while nothing requires them to return extra money, keeping it would be a ...

and more »

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