In order for a business to be successful there must be a strong code of ethics, shared set of values and guiding principles instilled from top management to line levels.
LS&CO has been a successful company since 1850. Over the years they have continued to hold on to their values and principles that Levi Strauss set forth over 150 years ago. As LS&CO began to compete in more diverse cultures and countries they held on to an unwavering commitment to ethical business practices and followed the highest degree of compliance to the law.LS&CO was willing to pay a higher cost for labor and supplies to ensure there high standards for conducting business with integrity was met on a daily basis.
At LS&CO their ethics, values and guiding principles were instilled from top management down to the line levels. There are many examples of unethical decisions that are made in the business world. Sears, Roebuck & Company did not share same the values and principles of LS&CO.In this case Sears, Roebuck & Company’s management team created a culture that tried to spur unrealistic performance quotas in an increasingly competitive market. The unrealistic quotas led to employees using poor unethical judgment.
This poor judgment and management’s failure to communicate ethical values to the employee lost the company over $60 million. In the business world we are faced with situations daily where we have to choose between right and wrong. “Wrong” always appears to be more rewarding at the time.The situation is normally based on the immediate profit or climb to the next step on the ladder. In the end the “wrong” decision will be more detrimental to you and the company.
At Sears the unrealistic goals set by management resulted in an immediate profit that in the end resulted in a huge profit and customer loss. The ethics and standards set by LS&CO has made them a successful profitable brand that had become known worldwide for the quality and loyalty to their employees.In my current role as the Executive Director of a small nonprofit it is very important for me to lead by example and inspire the staff and directors to do what is right for our members at large. No matter how profitable a business relationship might appear I need to evaluate the benefit to the members, step back and ask “Will the members see the value in this relationship? , Will this benefit the Association and
