Summary
The video explores the ethical challenges posed by new technologies in business, particularly focusing on data management scandals and the role of AI. It discusses how technologies like cryptocurrency can be used for unethical practices such as facilitating bribes. The speaker emphasizes the importance of establishing a culture that promotes legal and ethical practices in business, pointing out the significance of ethical business practices in the future. Additionally, the video delves into Zadek's four stages of social issues to demonstrate how topics like genetically modified foods evolve and are responded to by stakeholders like activists and governments. The discussion also touches on the increasing adoption of voluntary environmental programs by firms as a standard part of their business model, citing examples like ISO 14001 and labor rights codes of conduct by companies like Adidas.
Ethical Challenges in Business
Discussion on how new technologies are raising ethical challenges in business, focusing on data management scandals and the impact of AI and other technologies. Reflects on technologies that may help or hinder anti-corruption practices.
Technology and Corruption
Exploration of how technology, specifically cryptocurrency, can make it easier to facilitate bribes and under-the-table payments. Provides an example of how technology can be used for nefarious purposes in business transactions.
Future Scandals and Strategies
Speculation on future scandals and the importance of establishing a structure and culture that encourages legal and ethical practices in business. Emphasizes the significance of ethical business practices in the future and suggests a framework to address social issues.
Zadek's Four Stages of Social Issues
Explanation of Zadek's four stages of social issues: latent, emerging, consolidating, and institutionalized. Illustrates how issues like genetically modified foods fit into these categories and discusses the responses from different stakeholders such as activists, the scientific community, and governments.
Voluntary Environmental Programs
Discussion on how firms are increasingly adopting voluntary environmental programs like ISO 14001 as a normal part of their business model. Examples include codes of conduct for labor rights by apparel makers, with a specific reference to Adidas in the mid-1990s.
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