Business leaders rarely talk about the values that shape the character of a corporation and make an impact on its financial performance. But they do exist. I consider the following eight principles the most crucial for corporate performance:
Principle 1: The directors and executives of a company will align their personal interests with the fate of stakeholders and act in a responsible way to ensure the viability of the enterprise.
Principle 2: A firm's business operations will be transparent to shareholders, employees, and the public, and its executives will stand by the integrity of their decisions.
Principle 3: A company will think of itself as part of a community as well as a market.
Principle 4: A company will represent its products honestly to customers and deliver service with dignity.
Principle 5: Workers will be treated as valuable team members, not just hired hands.
Principle 6: The environment will be treated as a silent stakeholder, a party to which the company is wholly accountable.
Principle 7: A company will practice balance and equality in its relationships with workers, customers, and suppliers.
Principle 8: A company will pursue international trade and production based on respect for the rights of workers and citizens of trade partner nations.