Monday, April 20, 2009

"Ethics, Regulation and Risk Management" Financial Symposium

On Tuesday, April 21st, Duquesne University is hosting a gathering to discuss future directions in the financial services industry.

The loss of the trust essential to a well-functioning economy has shut down financial activity and will almost certainly result in the sort of legislation and regulation that follow major crises, according to Pitt Prof. Bradley Agle, who also says it would be much better and less burdensome if businesses invested in doing business ethically. One practice that works, says Agle, is to make ethics a part of employee performance evaluations--sending the message from the top that cutting corners will not be rewarded. Another is to incorporate hypothetical situations into training, with management presenting scenarios and explaining what responses would embody the company's value system.

Agle says some people will always behave ethically; some will always push the limits, and the great number in the middle will react to the climate they work in.

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