TheJakartaPost
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Ethical business strategies a must for companies
There are at least two benefits in approaching ethics in a holistic and systemic way.
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Ethics needs to be embedded in business strategy and the strategy needs to be appropriately executed. (Shuttterstock/File)
P
resident Joko “Jokowi” Widodo recently asked the public works and housing minister to stop all infrastructure projects and carry out an appropriate safety audit in the wake of a series of recent workplace accidents.
A couples of days later, a director of a state-owned enterprise responsible for building some of the infrastructure projects held a press briefing and apologized publicly because of the high number of recent accidents involving projects handled by his company.
He blamed his financial background for making him profit-oriented and thus neglected the importance of workplace safety and ethics in securing and implementing the infrastructure contracts from the government.
The market reacted negatively to these series of incidents and the stock value of the company plummeted. The public works and housing minister then asked the directors of the company to be replaced.
