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- W2504631325 abstract "Do we indeed need more humanism and integrity as fundamental building blocks in our business world? We can address this question from two sides: either from a practical view or from a more theoretical and conceptual one. We decided in favor of commencing with a practical reality check. Having screened different industries, we note the following: In the banking industry: We find bets on harvests, which cause 44 million additional people to suffer hunger.1 There is speculation about the length of human lives, such as it is the case with Deutsche Bank’s Kompass Life III as an investment product,2 which is based on life insurance policy certificates. The sooner the policy takers die, the more profits there are for the investors.3 In India a provider of micro-credits, originally set up for women living under the poverty line to start businesses, took a step further by secretly signing life insurances for its micro-credit takers. If the self-employed women could not repay their loans in time, the provider drove them to commit suicide so that it could receive the life insurance money.4 Industry leader Goldman Sachs could not prevent various publications from arguing that it passes on to clients investment opportunities that are too unattractive to be carried out with its own money. In addition, Goldman Sachs first sells investment ideas to clients and then bets against them. Not a year passes without Goldman Sachs being sued and sentenced. The relevant figures reach astonishing heights, such as the US$550 million involved in the 2010 fraud charges and charges of consciously and intentionally misleading investors. The actual damage caused to clients exceeds these amounts by far! Subsequently, the published photographs of Lloyd Blankfein, the chief executive of Goldman, smirking when he was grilled by the United States Congress, did nothing for the company’s reputation. KeywordsCorporate GovernanceHuman Resource ManagementEthical LeadershipFamily BusinessNonprofit SectorThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves." @default.
- W2504631325 created "2016-08-23" @default.
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- W2504631325 date "2013-01-01" @default.
- W2504631325 modified "2023-09-23" @default.
- W2504631325 title "Introduction: Why the Business World Needs More Integrity" @default.
- W2504631325 doi "https://doi.org/10.1057/9781137280350_1" @default.
- W2504631325 hasPublicationYear "2013" @default.
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