A business today uses the measuring stick of profitability. There needs to be a shift to the thinking of total utility for the social community in order to weigh business decisions. Opponents would argue that this is a long-term plan that requires too many radical changes in the face of business. Also, there is no way that an industry wide standard can be set since there are too many types of corporations. Plus, companies have different needs and every moral rule is subjective according to the type of business that everyone conducts.
Although there are no industry standards that are feasible, it is possible for every company to examine their practices as well as the attitude of their employees. There will be companies that find that they are doing fine with employees that are aware of their moral values. Yet other companies will find that they do have areas that need improvement. It is steps like these that start implementing changes. Once a few companies start to see the benefits of changes, it can help to encourage other companies to follow suit. After all, mistakes in one department can cause the deterioration of an entire corporation. When the costs that are possible are taken into account, the changes required to rectify this are small in comparison.
Purpose, People, Planet, Probity (or Purity or Principles): 4 P model
This 4 P model is not a process or technique - it's the character or personality of a good ethical manager or leader or organization. The four corner stones of sustainable success in any modern business venture, and is a maxim for today's management and organizational philosophy. Probity means honesty, uprightness - it's from the Latin word probus, meaning good. 'Purpose' is an apt replacement for 'Profit' and thus makes the acronym appropriate for use in not-for-profit organizations. Profit-focused corporations can of course substitute 'Profit' for 'Purpose'.
The aim of all good modern organizations is to reconcile the organizational purpose (whether this be profit for shareholders, or cost-effective services delivery, in the case of public services) with the needs and feelings of people (staff, customers, suppliers, local communities, stakeholders, etc) with proper consideration for the planet - the world we live in (in terms of sustainability, environment, wildlife, natural resources, our heritage, 'fair trade', other cultures and societies, etc) and at all times acting with probity - encompassing love, integrity, compassion, honesty, and truth. Probity enables the other potentially conflicting aims to be harmonised so that the mix is sustainable, ethical and successful.
Traditional inward-looking management and leadership skills (which historically considered only the purpose - typically profit - and the methods for achieving it) are no longer sufficient for sustainable organizational success. Organizations have a far wider agenda today. Moreover, performance, behaviour and standards are transparent globally - the whole world can see and judge how leaders and organizations behave - and the modern leader must now lead with this global accountability.