What is Ethical Business Practice?

It's up to you. The role of the individual

Putting ethical business policies into practice is a great step forward for the entire business world. However, no matter how many rules, regulations and processes are put in place, it can only work if people like you play your part. As the future employees and decision makers of business, you'll be key to ensuring that the good work that's been started continues. Integrity is a personal responsibility after all.

To help our own employees, PwC has produced a code of conduct to which we all have access. It's a guide to the standards we aim to live up to and our commitment to society. Here is a summary of the questions we ask ourselves to ensure we always make ethical decisions. These could be applied to any business or, for the most part, life in general:

1. Is it against PwC or professional standards?
2. Does it feel right?
3. Is it legal?
4. Will it reflect negatively on you or PwC?
5. Who else could be affected by this (others in PwC, clients, you, etc.)?
6. Would you be embarrassed if others knew you took this course of action?
7. Is there an alternative action that does not pose an ethical conflict?
8. How would it look in the newspapers?
9. What would a responsible person think?
10. Can you sleep at night?

For the business world to maintain public trust, everyone involved must embrace and practice the spirit of transparency and a culture of individual integrity. At PwC, when we look at the work we are doing for our clients, the development of our people and our contribution to society, we're very proud. And we're especially proud as all our hard work is paying off. In the Corporate Responsibility Index for 2002 we achieved a top 40 position. The index is entered voluntarily, with companies being assessed on how effective their strategy on corporate responsibility has been. So even for those lower down on the index, there is a real pride in making a stand in support of ethical business. For more information visit www.bitc.org.uk/community_affairs.

There will always be work to be done in this field. But in acknowledging this, businesses are moving in the right direction. Many leading firms, ourselves included, are bringing ethical and environmental issues into their decision-making processes at every level. And in future years, you in turn will play your part.