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Essay 3: New challenges, ethics, and implementing bold solutions to new problems:

octubre 10, 2013

         This is the world of today. We live in it. It surrounds us, it binds us. It is a fast world, a whirlwind of decisions and information. Natural selection acts heavier than before, and anachronistic companies fell because they are not flexible. They don’t adapt and change to better forms of organizations, more organic way of doing things. New technologies cause it. The challenge of today is the challenge of time. The challenge of doing what has to be done quicker than your opponent. Communication with virtually the rest of the world is possible. Immediate communication is possible. And necessary. Many companies have already passed this challenge, but there are still people who work as if they were in the 20th century.

        This is the world of today. It is a communicating world, a giant network of people, an endless platform of contacts, of friends. The companies who learn to interact with people are the ones who prosper, because what we see today is that cooperation brings more progress than pure competitiveness. Interact with partners, on one hand, by having as many contacts as possible, and with costumers, by creating a sense of community. Companies should not only try to publicize through deceptive marketing techniques their products and services to the common people. Real life examples show that the companies that use the word of mouth, the sincerity, the positioning in which you are a true friend of the costumer are the ones that have easier access to demand.

        This is the world of today. It is a whole world, not just the Western one. Everybody knows the every country on earth has its big plan of growth. The West must know, as of today, to bear the surfacing of new economies and competitors. And if it wants to remain important and central to the world it must revitalize. Western economies have grown pre-crisis and will grow post-crisis between a 1% and 3% of annual GDP normally, while industrializing countries often grow much more than that. Beginning to invest in new markets, precisely in this developing part of the world, must be a key to success.

            This is the world of today. It is a human world, full of work, thoughts and desires. We can always see that the countries with less corruption, the countries that have a culture of hard work, such as South Korea, the countries whose people are the ones that are most productive, because of their mentality, are the ones who are most likely to succeed. When a country, or a company, is infested with poor productivity, general ‘laziness’, no long-term vision, or no ambition, it has much less chances to succeed more than competitors, be countries or companies.

            This is the world of today. It is a fragile world, and it should not be used savagely. It is not a present from our ancestors, it is a heritage to our grandchildren, and we live, now, in the greatest, richest moment of mankind. It is the most dangerous time for the earth. Companies have to realize that taking care of it is not only a mere philanthropic decision, but also a decision that should have a noticeable impact on the long-term future, for themselves too.

            The Organization for Economic Co-operation and Development published 12 principles to pursue in order to get an ethical company. Those principles talk about a clear policy against foreign bribery, the existence of a Chief Ethics and Compliance Officer or CECO having “authority to report matters directly to independent monitoring bodies” such as the audit committee, and being from “senior corporate officers, with an adequate level of autonomy from management, resources, and authority.” Also, a company is expected to inform business partners about its compliance and ethics program and that it does not intend to participate in or benefit from any corrupt practices. It also stated that companies should probably not assume that they have adequate controls to address the risk of foreign bribery simply because they meet national securities law standards; rather, controls need a separate focus on the risk of foreign bribery. They need both training and communications too on a periodic basis; training alone is not enough. Discipline is expected “at all levels of the company. They must not favor senior people over more junior employees. The should have systems to enable employees to get help including “urgent advice on difficult situations in foreign jurisdictions, promote the use of internal whistleblowing systems, periodic evaluations of compliance programs, etc.

Eduardo Collin Hernández

1º ELG


Essay 3. Companies and businessmen standing up to today’s new challenges.


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