LINK: How Ethics Can Boost the Bottom Line (by Tricia Brick for Everett [published by Questrom School of Business])
…Over the years, Martin has also turned to his colleagues to help him build an ethical framework for Martin & Co., which now has a mission statement that emphasizes diversity, fairness, and honesty, as well as innovation, craftsmanship, and managing risk. “It’s not enough to send the memo or the email,” he says. “You have to say, ‘We’re changing the way we do business, and here’s why—and what do you think about it?’ And you really have to draw this out of people, so that they will tell you: ‘If you do that, the consequences in my department are going to be this.’ It’s hard stuff, and a lot of companies don’t want to take the time.”
…He is adamant that all of the changes he’s instituted be viewed not as beneficence, but as strategic investment. “I am focused on profit,” he says. “I’m a successful entrepreneurial capitalist, and profit is the fuel that allows us to buy better equipment, to buy our raw materials. But I have to frame it in terms of what it can do for the company going forward.”….
What do you think?