Watch the following article http://finance.fortune.cnn.com/2014/02/28/citi-ceo-says-employees-broke-the-rules/ them summarized and, in addition, provide a response to each of these questions …...
Watch the following article http://finance.fortune.cnn.com/2014/02/28/citi-ceo-says-employees-broke-the-rules/ them summarized and, in addition, provide a response to each of these questions …
- How are these topics relevant for workers today?
- What is the role of communication in these processes?
- What does the new information contribute to our understanding of ethical leadership?
The article "Citi CEO says employees broke the rules" reports that two weeks ago the CEO of city group had sent a memo to all employees where he cites that some people have
violated our Code of Conduct and disrespected our values.
The reason for the memo is that it was discovered that an employee in the Mexican branch of Citi had falsified paperwork to provide a bad loan. As a result, the company became affected financially. However, what CEO Michael Corbat says in his memo is very powerful. He tells his employees that it is obvious that, to conduct that type of activity, someone else must have known, heard or seen something. Therefore, those who turned a blind eye to what was going on were contributing to the potentially harmful consequences that the actions of one person can do.
The part of the memo that reads,
They undermine credibility with our clients, regulators, investors and the public -- not to mention the enormous financial costs that can result. Simply put, failures of ethics jeopardize everything we work so hard for.
summarizes the entire message. When employees betray the corporation that employs them, not only are they harming the organization, but also the people who rely on it; it means breaking ties of trust, and the overall sense of security that all customers like to bestow upon a business. In an economy that is anything but safe and strong, this is the last thing you want to do to any business. You simply cannot afford the even the thinnest crack on the reputation of a corporation. Like he says, all the years of hard work earning the trust of potential customers, and that of current ones, goes down the drain.
This is completely relevant today, especially in a society that employs young and technologically savvy men and women who may not have been taught any ethical behavior. Hence, they use their technology skills to breach the very safety and security that safeguards their own interests. Our economy is so weak right now that we cannot afford for unethical behavior to destroy all that you have produced. This society depends on the trust that people put on where their hard-earned money goes. Everyone who engages in this behavior, whether directly or indirectly, is equally guilty.
Communication is essential; many employees may not even know that breaching is unethical because they know nothing about ethics. However, they all should know about consequences; perhaps those may help them develop a sense of ethics even if it is in a negative way. Regardless, communication is the key factor in every organizational success. It builds a sense of unity, belonging, and espirit de corps. Once you communicate, you are basically holding the other party responsible for abiding by the information that you offered.
New information, if you mean by new technologies and ways that people communicate, shows that there is no excuse for not getting your message, mission, vision, and goal across to all employees equally. Communication is always possible because our world has "flattened" thanks to technology. Communication is as accessible as it is necessary.