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        • What is APY in Crypto?
        • Yield Farming Platforms
        • Yield Farming vs Staking
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    • Bitcoin Price Prediction
      • ALICE Price Prediction
      • ApeCoin Price Prediction
      • Axie Infinity Prediction
      • Battle Infinity Prediction
      • Cardano Price Prediction
      • Chia Coin Price Prediction
      • DeFi Coin Price Prediction
      • Dogecoin Price Prediction
      • Dogelon Mars Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Hoge Coin Price Prediction
      • LBLOCK Price Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
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      • SafeMoon Price Prediction
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    • Best Altcoins
      • Buy Battle Infinity
      • Buy Bitcoin Cash
      • Buy Binance Coin
      • Buy Celo
      • Buy Cardano
      • Buy Cartesi
      • Buy Chiliz
      • Buy Cronos
      • Buy Dash
      • Buy EOS
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy FTX Token
      • Buy HBAR
      • Buy IOST
      • Buy IOTA
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Pitbull Coin
      • Buy Polkadot
      • Buy RadioCaca
      • Buy Solana
      • Buy Spark
      • Buy VeChain
      • Buy XRP
      • Buy ZCash
    • Best Crypto Exchanges
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      • Binance Review
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      • Margin Trading Exchanges
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    • Best Meme Coins
      • Best Dog Cryptos
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Kiba Inu
      • Buy Shiba Inu
      • Buy Tamadoge
    • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
      • Buy Algorand
      • Buy Ankr
      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Chainlink
      • Buy Compound
      • Buy Cosmos
      • Buy Curve
      • Buy DeFi Coin
      • Buy DYDX
      • Buy Fantom
      • Buy Kyber Network
      • Buy Maker
      • Buy Polygon
      • Buy Ren
      • Buy Serum
      • Buy Storj
      • Buy Sushiswap
      • Buy Tezos
      • Buy Uniswap
    • Best Web 3.0 Coins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Filecoin
      • Buy Theta
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    • How To Buy NFTs
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      • Best Utility NFT Projects
      • Buy NFTs on Binance
      • How to Flip NFTs
      • Make Money With NFTs
    • Best Metaverse Coins
      • Buy ApeCoin
      • Buy Axie Infinity
      • Buy Decentraland
      • Buy DeFi Kingdoms
      • Buy Enjin
      • Buy Gala
      • Buy GMT
      • Buy Immutable X
      • Buy The Sandbox
    • NFT News
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      • Cheapest NFT Projects
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      • New NFT Projects
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      • Sport NFT Drops
    • Invest in the Metaverse
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      • How to Invest in NFTs
      • Metaverse Projects
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      • How to Day Trade Stocks
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      • Islamic Brokers
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Business 2 Community
  • Investing
      • Best Cryptos
      • Best Beginner Cryptos
      • Best Crypto Under $1
      • Best Crypto Winter Tokens
      • Best Emerging Cryptos
      • Best ERC20 Tokens
      • Best Future Cryptocurrency
      • Best Utility Tokens
      • Coins to Buy on the Dip
      • Fastest Growing Crypto
      • Hottest Cryptos Right Now
      • Most Promising Cryptos
      • Next Crypto to Explode
      • Invest in Crypto
      • How to Invest in Bitcoin
      • How to Invest in DeFi
      • Long Term Investments
      • Low Market Cap Cryptos
      • Most Undervalued Cryptos
      • Penny Cryptocurrencies
      • New Cryptos
      • Best Crypto ICOs
      • Best Crypto IDOs
      • Best Crypto IEOs
      • Best Crypto STOs
      • Best Crypto Crowdsales
      • Best Crypto Presales
      • Best Crypto Private Sales
      • Buying Coins Pre Launch
      • Crypto Games
      • Best Blockchain Games
      • Best GameFi Cryptos
      • Best Gaming Crypto Coins
      • Best Play to Earn Games
      • Crypto News
      • Best Crypto Reddit
      • Best Crypto Signals
      • Crypto Tiktok Trends
      • Crypto Youtube Channels
      • Twitter Crypto Trends
      • Crypto Wallets
      • Best Cardano Wallets
      • Best DeFi Wallets
      • Best Ethereum Wallets
      • Best XRP Wallets
      • Crypto Bank Accounts
      • How to Spend Bitcoin
      • How to Spend Ethereum
      • Bitcoin Casinos
      • Best Bitcoin Gambling Sites
      • Best Crypto Lotteries
      • Bitcoin Blackjack Sites
      • Bitcoin Roulette Sites
      • Bitcoin Slots Sites
      • Ethereum Casinos
      • Earn Free Crypto
      • Best Crypto Airdrops
      • Best Crypto Faucets
      • Best Crypto Giveaways
      • Earn Free Bitcoin
      • Make Money With Crypto
      • Earn Interest on Crypto
      • Aqru Review
      • Best Staking Coins
      • Crypto Interest Accounts
      • Crypto Lending Platforms
      • Crypto Loan Sites
      • Crypto Savings Accounts
      • Crypto Staking
      • Earn Interest on Bitcoin
      • Earn interest on Ethereum
      • Earn Interest on Stables
      • What is APY in Crypto?
      • Yield Farming Platforms
      • Yield Farming vs Staking
      • DeFi Crypto Guides
      • Best DeFi Apps
      • Best DeFi Interest Rates
      • Best DEX Coins
      • DAO Crypto Projects
      • DeFi Lending Platforms
      • DeFi Staking Platforms
      • DeFi Swap Exchange
      • DeFi Yield Farming
      • Worldwide Crypto Guides
      • Best Africa Crypto Projects
      • Best Asia Crypto Projects
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      • Best Dubai Crypto Projects
      • Buy Bitcoin AU
      • Buy Bitcoin CA
      • Buy Bitcoin DE
      • Buy Bitcoin IN
      • Buy Bitcoin SG
      • Buy Bitcoin UAE
      • Buy Bitcoin UK
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      • Crypto Exchanges AU
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      • Bitcoin Mining Sites
      • Best Coins to Mine
      • Ethereum Mining
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      • Monero Mining
      • Crypto Marketing
      • Financial PR Agencies
      • ICO Marketing
      • Web3 Marketing
  • Cryptocurrency
      • Buy Crypto
      • Buy Bitcoin
      • Buy BTC with Apple Pay
      • Buy BTC with Credit Card
      • Buy BTC with Bank Wire
      • Buy BTC with eToro
      • Buy BTC with Paypal
      • Buy BTC with Prepaid Card
      • Bitcoin Price Prediction
      • ALICE Price Prediction
      • ApeCoin Price Prediction
      • Axie Infinity Prediction
      • Battle Infinity Prediction
      • Cardano Price Prediction
      • Chia Coin Price Prediction
      • DeFi Coin Price Prediction
      • Dogecoin Price Prediction
      • Dogelon Mars Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Hoge Coin Price Prediction
      • LBLOCK Price Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
      • Polygon Price Prediction
      • SafeMoon Price Prediction
      • Samoyed Coin Prediction
      • Shiba Inu Price Prediction
      • Stepn GMT Price Prediction
      • SXP Coin Price Prediction
      • VeChain Price Prediction
      • XRP Price Prediction
      • Best Altcoins
      • Buy Battle Infinity
      • Buy Bitcoin Cash
      • Buy Binance Coin
      • Buy Celo
      • Buy Cardano
      • Buy Cartesi
      • Buy Chiliz
      • Buy Cronos
      • Buy Dash
      • Buy EOS
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy FTX Token
      • Buy HBAR
      • Buy IOST
      • Buy IOTA
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Pitbull Coin
      • Buy Polkadot
      • Buy RadioCaca
      • Buy Solana
      • Buy Spark
      • Buy VeChain
      • Buy XRP
      • Buy ZCash
      • Best Crypto Exchanges
      • Best Altcoin Exchange
      • Best Metaverse Platforms
      • Best Crypto Apps
      • Best DeFi Exchange
      • Best P2P Exchange
      • Binance Referral Bonus
      • Binance vs Coinbase
      • Binance Review
      • Best Binance Alternatives
      • Best Coinbase Alternatives
      • Bitstamp Review
      • Bitstamp Sign Up Bonus
      • Coinbase Review
      • Coinbase Sign Up Bonus
      • Crypto.com Review
      • Crypto.com Sign Up Bonus
      • Crypto.com Visa Card
      • Crypto Credit Cards
      • Crypto Tax Software
      • Margin Trading Exchanges
      • Social Trading Platforms
      • Best Meme Coins
      • Best Dog Cryptos
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Kiba Inu
      • Buy Shiba Inu
      • Buy Tamadoge
      • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
      • Buy Algorand
      • Buy Ankr
      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Chainlink
      • Buy Compound
      • Buy Cosmos
      • Buy Curve
      • Buy DeFi Coin
      • Buy DYDX
      • Buy Fantom
      • Buy Kyber Network
      • Buy Maker
      • Buy Polygon
      • Buy Ren
      • Buy Serum
      • Buy Storj
      • Buy Sushiswap
      • Buy Tezos
      • Buy Uniswap
      • Best Web 3.0 Coins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Filecoin
      • Buy Theta
  • NFTs
      • How To Buy NFTs
      • Best NFT Apps
      • Best NFT Games
      • Best NFT Giveaways
      • Best NFT Lawyers
      • Best NFT Lottery Sites
      • Best NFT Presales
      • Best NFT Wallets
      • Best Utility NFT Projects
      • Buy NFTs on Binance
      • How to Flip NFTs
      • Make Money With NFTs
      • Best Metaverse Coins
      • Buy ApeCoin
      • Buy Axie Infinity
      • Buy Decentraland
      • Buy DeFi Kingdoms
      • Buy Enjin
      • Buy Gala
      • Buy GMT
      • Buy Immutable X
      • Buy The Sandbox
      • NFT News
      • Celebrity Backed NFTs
      • Celebrity NFT Owners
      • Cheapest NFT Projects
      • Coolest NFT Projects
      • Most Expensive NFTs
      • New NFT Projects
      • NFT Calendar
      • NFT Horse Racing Projects
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      • Sport NFT Drops
      • Invest in the Metaverse
      • Best Metaverse Apps
      • Best Metaverse Games
      • How to Invest in NFTs
      • Metaverse Projects
      • Metaverse Real Estate
      • NFT Land Projects
      • Best NFTs To Buy
      • Azuki NFTs
      • CryptoPunks NFTs
      • Lucky Block NFTs
      • PolygonPunks NFTs
      • Prime Ape Planet NFTs
      • VeeFriends NFTs
      • World of Women NFTs
      • NFT Marketplaces
      • Binance
      • Crypto.com
      • DraftKings
      • Looksrare
      • Magic Eden
      • NFT Launchpad
      • NFT Music Platforms
      • OpenSea
      • Rarible
  • Stocks
      • Types of Stocks
      • Best Biotech Stocks
      • Best Bitcoin ETFs
      • Best Blockchain Stocks
      • Best Cannabis Stocks
      • Best Cheap Stocks
      • Best DeFi Stocks
      • Best Dividend Stocks
      • Best Meme Stocks
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      • Best NFT Stocks
      • Best Oil Stocks
      • Best Penny Stocks
      • Best Reddit Stocks
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      • Best 5G Stocks
      • Best Upcoming IPOs
      • Most Undervalued Stocks
      • Company Stocks
      • Buy Adobe Stock
      • Buy Alibaba Stock
      • Buy Alphabet Stock
      • Buy Amazon Stock
      • Buy Apple Stock
      • Buy AMC Stock
      • Buy AT&T Stock
      • Buy Disney Stock
      • Buy DocuSign Stock
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      • Buy Ford Stock
      • Buy Gamestop Stock
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      • Buy Lockheed Martin Stock
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      • Buy Nio Stock
      • Buy Oil Stocks
      • Buy Stocks on eToro
      • Buy Stocks via Credit Card
      • Buy Stocks with PayPal
      • Invest in Stocks
      • Invest in NFT Stocks
    • Trading
        • Best Trading Platforms
        • Best Investment Apps
        • Capital.com Review
        • Copy Trading Platforms
        • Demo Accounts for Stocks
        • Day Trading Platforms UK
        • eToro Review
        • eToro Review UK
        • eToro Review ZA
        • How to Day Trade Stocks
        • How to Trade Commodities
        • How to Trade Crypto
        • How to Trade ETFs
        • How to Trade Gold
        • How to Trade NFTs
        • How to Trade Oil
        • Islamic Brokers
        • Low Margin Rate Brokers
        • Paper Trading Platforms
        • XTB Review
        • Best Forex Brokers
        • Best Forex Brokers AU
        • Best Forex Brokers IN
        • Best Forex Brokers UAE
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        • Best Stock Brokers ZA
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        • Best Forex Signals
        • Best MT4 Brokers
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        • High Leverage Brokers
        • Low Spread Forex Brokers
        • Trading Robots
        • Algorithmic Trading
        • Bitcode AI Review
        • BitiCodes Review
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    Digital & Social⟩Leadership

    A Strong Sense of Ethics is Vital for CEOs to Lead a Successful Business

    author imageJay Leonard Last updated: 28 June 2018
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    rawpixel / Pixabay

    Heightened levels of public attention and analysis come with the territory for CEOs. This high-profile visibility makes it even more important for leaders to have a strong sense of ethics, and to be accountable when mistakes are made.

    Though integrity and values have always been important in business, other aspects have evolved. Take this story by Strategy+Business. Per-Ola Karlsson, DeAnne Aguirre and Kristin Rivera reported on trends that have shifted in the past 15 years, including:

    • Public awareness and suspicion of “corporate misbehavior.”
    • Governance and regulations becoming “more proactive and more punitive” in some countries.
    • Increased digital communication, which “has exposed companies and the executives who oversee them to more risk than ever before.”
    • The constant news cycle, which “publicizes and amplifies negative information in real time.”

    “Add it all up, and you get greater scrutiny of CEO behavior, a greater desire for swift justice and action, and a smaller margin of error for all parties involved,” the authors write. “But there’s good news for CEOs, their leadership teams, and their boards. Organizations can protect themselves by making sure that their controls and compliance programs are truly world-class, and — even more important — that their corporate culture sends and reinforces clear, well-understood messages about ethical conduct.”

    Here’s a look at some of the ethical challenges for executives and ways to approach them.

    Integrity

    This is the primary key for CEOs to properly lead an ethical business. All the leadership skills in the world won’t mean much without it. As Blake Beattie puts it in a story for The CEO Magazine, “Integrity is a shining light in a world of empty promises.” He suggests four things to consistently demonstrate it:

    • “Never make a promise you can’t keep.”
    • “Always under promise and over deliver (and not the other way around. Your team and customers will appreciate it).”
    • “Be honest — with yourself and others around you.”
    • “Be on time — it shows that you value someone else’s time.”

    Perception

    The news isn’t great for how the public views corporations and business leaders. As Karlsson, Aguirre and Rivera reported, the recession in 2007-2008 contributed to the overall decline in public confidence.

    “Corporations and executives received government bailouts, while seeming to suffer little in the aftermath,” the authors explained. “Although many companies paid large fines and settlements, few were charged criminally, even in instances where unethical and illegal activity was widespread and well documented.”

    Skepticism can reveal itself in surveys about credibility. As the authors point out, a Gallup poll in 2016 showed that 18 percent of those surveyed expressed confidence in big business. And the 2017 Edelman Trust Barometer reported 37 percent of people found CEOs to be credible, which was an all-time low.

    A bright spot here is that things may be looking up: The 2018 Gallup poll showed a small increase (21 percent), and the 2018 Edelman survey showed a bit of a bounce as well (44 percent).

    Accountability

    Executives accept a massive amount of responsibility in leading a business. When troubles emerge — from run-of-the-mill mistakes to full-blown scandals — leaders have to accept fault, deal with blame, manage the fallout and determine and communicate ways to avoid those same missteps in the future. The Strategy+Business story details the manner in which CEOs have been held accountable, and how it has changed significantly in the past few decades.

    “In the late 20th century, even the most serious, large-scale, and widely publicized cases of corporate misbehavior rarely led to dismissal of the CEO,” the authors wrote. “Criminal prosecutions of corporate officers were extremely rare. Financial penalties tended to be modest, ranging from the tens of millions to the low hundreds of millions of dollars, and media attention was often limited to the business press. Today, the chief executive of a company caught up in a major scandal is often dismissed quickly. And it is not uncommon to see multiple criminal indictments of corporate officers. The financial penalties that companies face have rocketed — in some recent cases, into the tens of billions of dollars. And media attention, from online outlets, cable television channels, and the relentless glare of social media, is omnipresent.”

    Setting the example

    The importance of ethics starts at the top, and executives must be the example for the rest of the company. The business leader who cuts corners, manipulates numbers, bends the truth or makes other dubious decisions will only foster that same kind of behavior in others. David Schmidt wrote about setting the proper tone in a story for CIO.com. Among the observations:

    • Commitment: “Even the very best ethics and compliance programs can be negated by a leader who communicates cynicism or lack of support for ethical conduct.”
    • Messaging: “Ethics is communicated through words, but words are compelling only when they are supported by action. The actions that matter most are those from the people at the top.”
    • Motivation: “More than anyone else, the CEO has the ability to promote an ethic of aspiration, not just an ethic of compliance. Companies that are able to promote a positive link between ethics and excellence enjoy a competitive advantage as well as an enviable reputation.”

    Make it official

    A business’ emphasis on ethics can include a formal statement that makes its policies clear. Granted, the importance of this may not be fully recognized by all employees, and some may casually assume their behavior is appropriate without giving the policies much thought. It can be beneficial to have employees read and acknowledge their understanding of the policies, and also refer back to it when necessary. Paula Fernandes wrote about this in a story for Business News Daily.

    “This should be a living, breathing, foundational document that helps center your staff and guide them as they navigate ethical gray areas,” she wrote. “The values communicated in this document must be modeled from the highest level of the organization on down, understood by employees at all levels, reinforced through regular training and other company events, and revisited and revised as the company grows or changes.”

    The process should be a continuing one. Dori Meinert also emphasizes the importance of ongoing training in a story for the Society for Human Resource Management.

    “Ask managers to raise ethics questions in meetings,” Meinert advises. “Encourage top executives to speak to it, as well. Managers can’t monitor employees’ every move, but they can help them recognize the right thing to do when company priorities clash.”

    Effects on clients

    Businesses that operate with a clear sense of ethics have a great chance to build deep connections with clients. And as they become loyal to the business, they may spread the word to others. On the other hand, businesses that lack accountability, show shoddy business practices and fall short in ethical matters will naturally drive customers away. Brian Hill includes this in a story for the Houston Chronicle.

    “A company’s reputation for ethical behavior can help it create a more positive image in the marketplace, which can bring in new customers through word-of-mouth referrals,” Hill notes. “Conversely, a reputation for unethical dealings hurts the company’s chances to obtain new customers, particularly in this age of social networking when dissatisfied customers can quickly disseminate information about the negative experience they had.”

    Responsibility for all

    Though business leaders may put all the proper things in place to establish an ethical work environment, employees must do their part as well. Laying the groundwork provides the right direction, and it’s up to employees to follow that guidance. As Hill writes, “Employees have a responsibility to be ethical from the moment they have their first job interview.”

    “They must be honest about their capabilities and experience,” he says. “Ethical employees are perceived as team players rather than as individuals just out for themselves. They develop positive relationships with coworkers. Their supervisors trust them with confidential information and they are often given more autonomy as a result. Employees who are caught in lies by their supervisors damage their chances of advancement within the organization and may risk being fired.”

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      This article originally appeared on David Kiger and has been republished with permission.
    Find out how to syndicate your content with B2C


    author image

    Author: Jay Leonard

    Jay is a UK-based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. Jay has a great deal of hands-on experience in analysing financial markets and performing technical analysis. Jay is currently focusing on the institutional adoption of cryptocurrency and what it means for the future of

    … View full profile ›


    More by this author:
    • Mastercard CFO sees Growth Opportunities in Crypto
    • Marvin Inu Trending on Twitter – Is Tamadoge Next to Pump?
    • Hashed VC Reveals it Lost $3 billion worth of Luna in Crash

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