Ethics and Trust

In Appreciation of Our Military Servicepeople

Jim Murren, Chair of the CRA Chairman and CEO MGM Resorts International MGM Resorts International realizes that our nation can take for granted the very things that are the most noteworthy for selflessness, and the very people who deserve the most gratitude – the men and women who are our nation’s veterans in a voluntary armed force. Astonishingly, only about one percent of Americans choose the calling of military service on behalf of our country. The security and protection of our nation – and our freedom to pursue life, liberty and happiness – rest in the hands of these few Americans who volunteer for service. In return for the responsibility they willingly accept on behalf of all of us, we owe them no less than our full support.

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How Good People Get Caught in Ethical Traps

Kevin Lynch, Ph.D.
Leadership Executive-in-Residence
Center for Values-Driven Leadership at Benedictine University

It has been over 10 years now, but I remember it like a scene in a movie. Work was progressing normally, overviewing spreadsheets for the various individually-managed real estate projects owned by the company for which I worked as the Chief Financial Officer.

The spreadsheets had always made sense to me, but now the numbers weren’t adding up. Sources of money were unclear. I began to see a pattern: bank loan proceeds designated for one project was being unethically (and perhaps illegally) shifted to other, unrelated projects. What was worse, this activity appeared to have been going on for some time and I’d unknowingly signed off on several of these transactions.

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How Your Org Structure Impacts Your Trust Levels

Kevin Lynch, Ph.D.
Leadership Executive-in-Residence
Center for Values-Driven Leadership at Benedictine University
 
More than 10 years after Enron’s memorable collapse, and five years after the start of the Great Recession, business publications still talk at length about how to restore public trust in corporations. I find it interesting that something that on face value appears so basic is so difficult to achieve. 
 
A recent edition of Corporate Responsibility Magazine offers four strategies for restoring corporate trust. Interestingly, the four strategies are each associated with one of the C-Suite officers. These four strategies include: 
  • CEOs speaking in their own voice (responsibility of the chief marketing officer)
  • Empowering employees to be the company’s biggest champion (responsibility of the chief HR officer)
  • Expanding collaboration amongst industry peers (responsibility of the chief social responsibility officer)
  • Making a business case to investors (responsibility of the chief financial officer)
 
I can’t argue with any of these strategies, however, I think this issue runs deeper.

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Real Business Philanthropy Starts with Real Stories

Ryan Scott
CEO
Causecast

Storytelling is a hot marketing buzzword these days, and for good reason; in the business world, it’s the newest form of smart corporate communications. Telling your story is imperative for many aspects of business, and a particularly important practice when it comes to strategic philanthropy.

Administrators of successful volunteer and giving programs understand that storytelling makes a big difference in how their corporate philanthropy efforts impact their chosen causes as well as their employees and business community.

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Doing the right thing

Jim Murren
CEO and Chairman
MGM Resorts International

Doing the right thing should be a standard in our personal lives, and our business lives.

It’s clearly the way those companies on the 100 Best List---published in this edition of CR Magazine--- conduct themselves. The companies that made the 2014 list, and their employees, are leading the effort every day to do the right thing. We offer our thanks and our congratulations to those companies that were ranked.

At MGM Resorts, we have long held the conviction that the success of our company, and subsequently our resorts, is inextricably tied to the well-being of the communities where we operate.
As a hospitality and entertainment company, the health and vibrancy of our communities plays a critical factor in our ability to host guests, entertain them and, in doing so, create lasting lifetime memories for them.

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Conflict Minerals Company Rankings Compared to CSRHub Ratings

Conflict Minerals Company Rankings Compared to CSRHub Ratings
By Cynthia Figg, COO & C0-Founder, CSR Hub

Companies are under pressure from many stakeholders to report progress towards improved corporate social responsibility (CSR) performance. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act has created a new source of pressure. The 2012 final rule from the U.S. Securities and Exchange Commission (SEC), requires most companies subject to SEC filing rules to report to the SEC by May 31, 2014, if any of their products produced in calendar year 2013 contain conflict minerals. In July, a federal judge ruled against a challenge to the new conflict mineral rules and upheld the law. Even companies headquartered outside of the United States, and those which do not report to the SEC, may be subjected to conflict minerals requests from customers that report to the SEC.

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Climate Science is Useless (to Business): Time to send scientists to b-school & business leaders back to science class

Kyoto. Montreal. Durban. Rio.Venerable cities all, but, with the exception of Rio (only because it hasn’t happened yet), each is also synonymous with failure. Failure to get consensus on the future of the environment and sustainable development.
 
But why? When I speak with individual business and government leaders a broad consensus exists on the need for action. The barrier seems to be politics. So let’s by-pass the politics. To do that, though, we need a different kind of collective-action—one based on science and grounded in data.
 
The problem with science is that it’s mostly aimed at scientists. The “big science” coming out of scientific academies and institutions is aimed either at other scientists or at the big multi-national conferences.

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