Introduction

Ethics is a growing business issue. The burden of unethical business conduct on the economy as a whole is mindboggling. Little wonder that business 'conduct risk' is a red-hot topic for regulators. Around the world, standards and regulations are being developed and revised to combat unethical business practice more effectively, from the US Foreign Corrupt Practices Act and UK Bribery Act to China's Article 164. The United Nations Global Compact, whose tenth principle targets ethical business conduct, counts among its signatories over 8000 businesses across 145 countries. At stake for business is not just a hit to the bottom line in the form of fines, but a much wider issue of trust, credibility and organisational well-being. Most companies, most employees want to do the right thing. The chapter also presents an overview of the key concepts discussed in this book.