Reputation risk has dramatically increased in modern society. In this
3-hour ethics seminar, you will learn to appreciate the value of reputation and the risks associated with maintaining it. Business ethics
plays an essential role in building your reputation. The seminar will
discuss how to create an environment of strong ethical behavior
that will lead to better customer service and success. Opportunities
that are created by well-managed business ethics will be discussed,
as well as the components of an effective business ethics program.
Attendees will leave with tools to help them make ethical decisions
and develop long-lasting relationships built on trust and integrity.
Copyright ©2017 International Risk Management
Institute, Inc.
www. IRMI. com
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Notes
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ETHICAL CONCERNS:
Your Reputation Matters!
Learning Objectives
‡ Recognize the value of a good reputation
‡ Identify risks associated with maintaining your reputation
‡ Create an environment of strong ethical behavior that will provide
enhanced customer service
‡ Identify and leverage opportunities that are created by well-managed
business ethics
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Business Ethics
‡ Business ethics exposures
‡
‡
‡
‡
‡
activities
policies and procedures
codes of conduct
culture
shared values
‡ Link to reputation risk
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“Managing business ethics is increasingly
important because business ethics risks,
i.e., the risks associated with
inappropriate behavior or wrongdoing,
have grown in number, complexity,
likelihood and significance.”
per ƚŚŝĐĂůŽŶĐĞƌŶƐĂŶĚZĞƉƵƚĂƚŝŽŶZŝƐŬDĂŶĂŐĞŵĞŶƚ by Arthur
Andersen’s Ethics and Responsible Business Practices Consulting Group
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Risks and Complexity
‡ Management reductions
‡ Cost cutting
‡ M & A Activity
‡ Organizational growth
‡ New technology
‡ New business processes
‡ New laws and regulations
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Greater Likelihood of Discovery
‡ Speed of information access and distribution
‡ Expanded access to information
‡ closer scrutiny by stakeholders
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Greater Costs
‡ Increasing fines and penalties
‡ Increasing litigation
‡ Complex relationships
‡ Reputation is an
increasingly valuable
corporate asset
‡ B2B
‡ B2C
‡ Sharing economy
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Opportunities Created
‡ Well managed business ethics will provide
‡ An enhanced reputation
‡ Of the organizations and all affiliated stakeholders
‡ More effective and efficient work practices
‡ ability to maintain standards
‡ Less fire-fighting
‡ Ability to focus on strategic operations
‡ Ability to recruit high quality people
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Components of Business Ethics Programs
‡ Values / mission statements
‡ Codes of Conduct
‡ Consideration of stakeholders’ needs
‡ Periodic declarations / acknowledgements of compliance
‡ Feedback gathering mechanisms
‡ Employees / departments with ethics responsibility
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Components of Business Ethics Programs (con’t)
‡ Business ethics training
‡ Inclusion of ethical criteria in reviews of divisions / functions
‡ Inclusion of ethical criteria in employee appraisal / reward systems
‡ Assessment of business ethics activities by external bodies
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Ethical Concerns
Your Reputation Matters!
Part II
“I am more afraid of an army of 100 sheep being led by a
lion, than an army of 100 lions being led by a sheep.”
դ Talleyrand, French Diplomat
(1754-1838)
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Business Ethics begins with
YOU!
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Building Personal Trustworthiness
‡ Keep promises
‡ Be honest and open
‡ Be courteous
‡ Seek to understand
,50,
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Being Mindful
‡ “Put your heart, mind, and soul into even your smallest acts. That
is the secret of success.” -- Swami Sivananda
‡ Work is play!
‡ Be right where you are.
‡ Put your attention on your wandering attention.
‡ Engage totally.
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Communicating with People
‡ Get out of the middle
‡ Develop listening skills
‡ feed back to people exactly what
they said
‡ resonate with what the other person
is saying
‡ listening alliance
‡ Give and receive honest feedback
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Inspiring Commitment
‡ Problems:
‡ lack of buy-in
‡ an event gets in the way
‡ Recognizing the signs of non-commitment
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Know Your Purpose
‡ Speak your purpose in one clear sentence
‡ Focus
‡ Develop harmony between your Big Life Purposes and your daily
purposes
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Keeping Your Promises
‡ Think carefully before you make an agreement
‡ Make only agreements that you feel a heart connection with.
‡ Scrupulously keep the agreements you make.
‡ Write agreements down.
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Absolute Honesty
‡ Be brutally honest with yourself
‡ Be straight with others
‡ Let go of being right
‡ Find the humor
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Courtesy
‡ Give more than you expect to receive
‡ Kindness and compassion
‡ Empathy
‡ Moral awareness: seeing in one’s neighbor another self
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The Insurance & Risk Industry
‡ There is an over-reliance on numbers alone in making major
decisions.
‡ To strengthen our role as risk experts, we need to revisit some
fundamental concepts
‡ Risk (or loss) control and event causation are needed to balance the
over-emphasis on risk financing.
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Personal Code of Ethics
for the Insurance Professional
‡ Consider other’s needs above one’s own
‡ Examine the covered peril or claim as well as the risk and loss
‡ Protect the privacy of others
‡ Be accurate
‡ Adhere to laws and regulations
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Ethical Concerns
Your Reputation Matters!
Part III
“Men make history, not the other way around.”
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Building Relationships
‡ Be positive—and SMILE
-
‡ Be complimentary
‡ Take genuine interest
‡ Find commonality
‡ Listen carefully
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Building Relationships (con’t)
‡ Speak the language
‡ Be slow to disagree
‡ Choose your battles
‡ Develop intuition and
awareness
‡ Adjust your strategies
‡ Always do what you say you will do
‡ Implement someone else’s
suggestions
‡ Try humor
‡ Make yourself useful
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A Winning Formula
Intuition
+
Logic
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Intuition
‡ A “gut feeling”
‡ A “flash”
‡ The direct knowing of something without the conscious use of
reasoning
“The intuitive mind will tell the thinking mind
where to look next.” 'U-RQDV6DON
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Creative Think Time
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Practicing Intuition
‡ Step 1: Select a goal, problem or issue
‡ jot it down on a piece of paper
‡ get comfortable
‡ set aside 10 minutes of undisturbed time
‡ close your eyes
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Practicing Intuition (con’t)
‡ Step 2: Float your question in your mind and then let it go
‡ let go of any expectation
‡ get receptive
‡ take any images and ideas that emerge
‡ look for the open space between and behind thoughts
‡ relax in this space -- accept it
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Practicing Intuition (con’t)
‡ Step 3: Open your eyes and jot down what you have
received.
‡ Open the interpretive part of your mind and apply it to what
images and ideas have emerged
‡ look for patterns, metaphors
‡ if nothing you consider useful has emerged, let go for now and
open yourself to something coming along later
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The Fear Factor
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Letting Go of Control
Box One
‡ Things over which I have
absolutely no control.
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Box Two
‡ Things over which I have
complete control.
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‡
‡
________________
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_________________
_________________
_________________
_________________
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Take-Aways
‡ What “squared” with you in this seminar?
‡ What made you view something from a new angle in this seminar?
‡ What new piece of information completed or “closed the circle for you?
‡ List an action or a new approach you will now take because of what you
learned today?
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“People won’t care how
much you know until
they know how much
you care.”
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Notes
This file is set up for duplexed printing. Therefore, there are pages that are intentionally left
blank. If you print this file, we suggest that you set your printer to duplex.
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