Ethical values play an increasingly important role in business today.

With the rise of social media and the increasing transparency of conducting business, society has come to expect a certain standard of behaviour from businesses.

For customers, a company’s social and environmental responsibility is an important factor when deciding which product or service to purchase.

For employees, receiving guidance in understanding a company’s ethical values (and how to apply these values when conducting their work) is expected.

In today’s economy, the way a company manages its economic, social and environmental relationships, and the way it engages its stakeholders (shareholders, employees, customers, business partners, governments and communities) strongly impact the company’s potential for long-term success.

While being profitable is the major goal of any business, an active sense of social responsibility — making voluntary contributions to the well-being of the global and local communities through core business activities, social investment and philanthropy programs and engagement in public policy — is essential to succeeding in a long-term plan.

So, what does it mean to be a good corporate citizen in the community today?

What are the characteristics of a trustworthy, ethical business?

How can we instill these characteristics in our own business or place of employment?

Next Friday, join DRIVE Emerging Leaders for a breakfast roundtable discussion on business ethics.