Economics class

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_______________________________________________________________ Report Information from ProQuest November 22 2016 02:21 _______________________________________________________________

22 November 2016 ProQuest

Table of contents

1. Integrity can be a competitive edge.............................................................................................................. 1

22 November 2016 ii ProQuest

Document 1 of 1 Integrity can be a competitive edge Author: Milbourn, Mary Ann ProQuest document link Abstract (Abstract):   "Ethical organizations outperform their unethical peers. It's that simple," said Dana Telford, who co-authored "The Integrity Advantage" with Adrian Gostick. Telford and Gostick began studying integrity in the years before Enron blew up to see whether there was any benefit to business. Among their findings: A 2005 Watson Wyatt study showed companies with high integrity outperformed their low-integrity peers by 200 percent in financial returns. Adrian Gostick and Dana Telford, co-authors of "The Integrity Advantage," offer these four guides to integrity in an organization: Full text:   Nov. 8--While companies often give lip service to integrity as a core value, two ethics experts said Monday that a serious effort can give organizations a competitive advantage. "Ethical organizations outperform their unethical peers. It's that simple," said Dana Telford, who co-authored "The Integrity Advantage" with Adrian Gostick. The two discussed the value of integrity before nearly 400 California State University, Fullerton business students and guests at the school's first "Thought Leadership Seminar in Accounting" sponsored by Grant Thornton LLP, the international accounting firm. Telford and Gostick began studying integrity in the years before Enron blew up to see whether there was any benefit to business. Among their findings: A 2005 Watson Wyatt study showed companies with high integrity outperformed their low-integrity peers by 200 percent in financial returns. A Johnson &Johnson study found that if you invested $30,000 in 30 ethical companies over 30 years, it would have yielded 4.7 times more than the Dow. Forty percent of consumers would boycott an unethical company, and 20 percent have done so, according to the Conference Board. The two researchers cited numerous examples in which heads of companies admitted errors or wrongdoing or took immediate actions based on their companies' core values and integrity. They pointed to the 1980s when Lee Iacocca took immediate responsibility and apologized when it was disclosed that Chrysler executives rolled back odometers before selling corporate cars. Johnson &Johnson also earned important points with the public when it took swift action to recall Tylenol after several people died during a product-tampering scare. "Trustworthiness is one of the most-fragile concepts we have," Gostick said. "Leadership with integrity is more trusted and admired." WAYS TO KEEP YOUR COMPANY TRUSTWORTHY Adrian Gostick and Dana Telford, co-authors of "The Integrity Advantage," offer these four guides to integrity in an organization: --Know that little things count. Draw a line in the sand. Avoid gradual slipping of standards. Everything a leader says and does matters. --Keep your word. Do what you say you'll do. Follow-through is a core marker of integrity. Treat promises seriously. --Mess up, 'fess up. Be willing to admit you are wrong. Reward honesty. --Create a culture of trust. Be consistent with one set of rules for everyone. Be approachable. Surround

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yourselves with integrity. Credit: The Orange County Register, Calif. People: Telford, Dana Gostick, Adrian Publication title: McClatchy - Tribune Business News Pages: 1 Number of pages: 0 Publication year: 2006 Publication date: Nov 8, 2006 Publisher: Tribune Content Agency LLC Place of publication: Washington Country of publication: United States Publication subject: Business And Economics Source type: Wire Feeds Language of publication: English Document type: WIRE FEED ProQuest document ID: 463173455 Document URL: http://search.proquest.com/docview/463173455?accountid=32521 Copyright: To see more of The Orange County Register, or to subscribe to thenewspaper, go to http://www.ocregister.com. Copyright (c) 2006,The Orange County Register, Calif. Distributed by McClatchy- TribuneBusiness News. For reprints, email [email protected],call 800-374-7985 or 847-635- 6550, send a fax to 847-635-6968, orwrite to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303,Glenview, IL 60025, USA. Last updated: 2016-03-26 Database: ABI/INFORM Collection

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