Media moghul, Rupert Murdoch, was declared unfit to run a major international company today and the question of ethics in business was brought to the surface in this inquiry. He was not condemned today for the illegal phone hacking which swiftly became widespread in his tabloid paper “New of the World”, but for ignoring and allowing it to continue for personal gain. Surely he would act responsibly towards his stakeholders, shareholders, employees, customers, sources, victims etc..?
A couple of weeks ago, at an Asian Foundation for Philanthropy event, I was asked whether ethical businesses would ever become mainstream. Evidently, we live in a “Rupert Murdoch” age where accumulating wealth and power by any means becomes the objective. What can be more powerful than the media?
My response was that I believe so and this report by the British Parliamentary Media committee clearly indicates the need for ethical practices to be embedded from the top. What disturbed me about the question I was asked, was that unethical business practices were the norm and totally acceptable if it was profit making. However, that little thing call karma has a funny way of biting you on the behind when you are least expecting it. Hey Mr Murdoch?
Bunty
