To jump straight to the point…the list of 144 honorees can be found here.
“World’s Most Ethical Company honorees not only promote ethical business standards and practices internally, they embed the theory of “conscious capitalism” into everything they do, every employee they hire, and every partner they bring into their network to ensure they deliver long-term value to key stakeholders including customers, suppliers, regulators, and investors. By leading their industries in compliance, corporate governance and social responsibility, the World’s Most Ethical Companies effectively align ethical business practices with performance and shape future industry ethical business standards.”
There has only been one “reliable” source available – Ethisphere Institute.It is a large responsibility to be the company to wrap all knowledge on all businesses together. They an independent provider as a center of research that evaluates and benchmarks compliance and governance programs. Their scoring and methodology of the companies is based off of using Ethics Quotient (EQ) and are broken down in the following fields: The gaps of their scoring method include only a sampling size is taken; not all companies are considered (as it is a self/people nominated process); ethics survey is based on a trust system as answers supplied could be easily made up. Overall, it is hard to use one general methodology to evaluate companies for all fields therefore I can’t be a harsh judge on it. It’s a good start and motivation for other companies to strive for. Similar to credentials on one’s resume, it would be nice to have this certification for a business. The only other thing I wish to see more on this is – what are those companies doing to be on this list? What have they done right and how can others learn from it? Isn’t sharing caring? The award almost feels empty too because of this lack of information and follow up. I suppose some information is better than none. This started in 2007 but it feels like there is a lot of improvements that can still be made for the purpose of the general public. Published every year, I wonder how they plan on improving it for next year to fill the gaps.
To Ponder on: Does this change your perspective of a company, if you knew they were in the top 100 of the world or does life continue on and you still purchase where you usually do?
Photo Source: The Economist