Putting values into action: lessons from best practice

Companies today find it important to have clearly articulated values related to business ethics. Values are closely linked to business ethics and can be used as part of corporate strategy. But values are also important in the day-to-day management of the firm and putting values into actions may be more a problem than defining the issues. Values should lead to consistent and well-articulated business ethics. This theme is reflected in the following articles. Ciulla's paper emphasises that leaders need to be morally good and effective to be successful and gives the example of Merck's CEO. Webley discusses the sources of corporate values with reference to codes of ethics, Driscoll and Hoffman look at how managers should go about implementing systems which encourage ethical conduct; but these need updating. The first of three case studies looks at the implementation of an 'integrity' value at SmithKline Beecham. The second examines the role of values within the public sector with the focus on a large London NHS hospital. A decision making framework for use by the managing partner in a law practice forms the third case. The argument put forward by Goyder in concluding section is that firms need to use the results of their actions to provide feedback. Several conclusions can be drawn. Leaders need to be both morally good and effective to be successful. Different values and managerial skills lead to differing ethical decisions. Organisations need to coordinate decisionsmaking between individuals with differing values. Putting values into practice is dynamic and not the same as putting an effective compliance programme in place.