David Burfoot – The Ethical Framework of Customer-Centric Governance

Transcript

1. 1 The Ethical Framework & Customer-Centric Governance PRESENTERS: DAVID BURFOOT
2. 2 MAJOR POINTS 1 – Ethics is about decision making and we have our own style 2 – Brain mechanics can interfere with good decision making 3 – Now more than ever ethical governance tools brings you closer to those you serve
3. 3 ETHICAL QUESTIONS
4. 4 What does ethics mean to you?
5. 5 having a gut feeling that something is right and doing that. thinking and talking about a situation to decide what is best. standing up for what you think is right and being true to yourself. being fair to people, treating them like you would like them to treat you. just common sense. trying to do the best for everyone involved. the law. something you are born with – or without. ETHICS IS…
6. 6 PRIORITIES What ought one to do?
7. 7  Killing  Lawful killing (assisted suicide, capital punishment, war)?  Lying  Lying to avoid hurting someone’s feelings?  Stealing  To feed a starving family?  Speeding  To save a life? Moral temptation Gray zone Ethical dilemma Time Context ETHICAL DILEMMAS AND MORAL TEMPTATIONS
8. 8 3 MAJOR PHILOSOPHICAL APPROACHES Consequences Duty Virtue
9. 9 COGNITIVE BIAS – HOW YOUR BRAIN CAN FOOL YOU
10. 10 FRAMING MORAL LICENCE ANCHORING SELF-SERVING BLINDSPOT CONFIRMATION COMMON UNCONSCIOUS BIASES IN THE WORKPLACE
11. 11 Fast Slow FAST AND SLOW THINKING System 1 Habitual, instinctual, intuitive and reactive responses. ‘Hot’ responses. Automatic and require little or no effort. System 2 Analytical, self reflective, ‘cold.’ Emotional regulation, high cognitive load. Requires effort and produces a limited zone of awareness.
12. 12 THE STRATEGIC CORPORAL Globalisation 24/7 News Cycle Social Media
13. 13 ETHICAL FRAMEWORK CUSTOMER/PEOPLE – CENTRIC GOVERNANCE
14. 14 ETHICAL FRAMEWORK
15. 15 15
16. The link between share price & conduct Source: Regnan & Dr Darren Lee, Griffith University $- $50.00 $100.00 $150.00 $200.00 $250.00 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 High vs. Low Conduct Rated Tilt Portfolios - High Conviction 2010-2016 Low Conduct Score (top/bottom 1/3rd) High Conduct Score (top/bottom 1/3rd) ASX200 Research Extract – 23 April 2018
17. 17 1– Ethics is about decision making and we have our own style 2 – Brain mechanics can interfere with good decision making 3 – Now more than ever ethical governance tools brings you closer to those you serve