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Companies that invest in board development programs equip their directors with the knowledge and skills necessary to excel, creating an environment where clear expectations, ethical guidelines, and open communication channels unite board members under a shared purpose.
While this dual role can lead to conflicts of interest, it offers significant advantages, making it a common practice. This suggests that the informational benefits of duality often outweigh the ethical risks. This is the situation for chief legal officers (CLOs) at many publicly traded U.S.
In recent years, however, it has become increasingly clear that many leaders have lost sight of the importance of integrity and have engaged in behavior that calls into question their character and ethical standards. Prioritize ethics and values. Leaders should be encouraged to prioritize their values and ethics in decision-making.
Enron did not demand enough accountability, fairness, ethics and operational autonomy from its outside auditor. There was a conflict of interest in alliance with Enron…not objective enough. Technology companies must now learn the lessons that steady-growth companies in other industries absorbed. ’ Lawyers.
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