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- Title
"Fair Play" or "Loyalty and Coherence" A Source of Performance and Value Creation through Business Ethics.
- Authors
Coomans, Michel
- Abstract
As with quality of products and services, business ethics and "fair play" can create a "climate of trust" deeper than that created by norms and labels. This condition lies in coherent collective and individual behaviours as proof of loyalty and a source of trustworthiness. Implementing such coherence requires a "methodology of coherence" inducing successively trustworthiness and trust. Trust is a major strategic component of corporate performance as well as of the sustainability of the corporate social mission. The trust of stakeholders must be gained, built, preserved and increased through permanent efforts and consistent behaviour. It is therefore a matter of management and, as such, trust becomes an instrument requiring a suitable method -- the "methodology of coherence". As a form of "instrumentalisation", this can be seen as negative or questionable only when it is based on unfair manipulation and groundless trust. In such a case, it is even dangerous -- the company risks the disclosure at any time of its ("bad") intent, breaking the "climate of trust" among stakeholders and loosing its "capital of trust" in the marketplace. The consequences are market penalties and a "sustainable" and unfavourable competitive position. Therefore, induced Ethics and trust can only be envisaged as effective strategic tools if the first establishes "fair play", which is a condition of the second. When talking about sport, fair play is more than simply "respecting the rules of the game". It is a proactive attitude undertaken constantly on the field and off by sportsmen as much as by teams, clubs and supporters. It results in behaviours respectful of the "spirit of the sport". It by no means prevents the presence of referees or the use of any culturally and humanly acceptable means in order to win both the match and a good reputation or image. It happens in the same way when talking about business and management: companies, leaders, managers, employees and workers must practice fair play in all strategic and operational decisions, behaviours and communication. Beyond laws and rules, they must practice and "show" fair play: a life-long voluntary and pro-active attitude to creating respect ("climate of trust") and amassing corporate value ("capital of trust"). In this sense, business ethics and fair play are constitutive of assets much more than standards of quality, even if the latter can contribute. As a matter of conclusion, trust comes from coherence between, on the one hand, a message made on the basis of motives, values, reports of acts, and results, identified and shared among the company and the shareholders, and, on the other hand, consistent behaviours observable in the market on a daily basis. One can speak about evidence and proof of loyalty or "trustworthiness". Our paper will focus on these propositions across five chapters dealing, firstly, with the conditions and mechanisms of fair play and induced trust. The concept, rationality and assumptions of trust will then be discussed in order to propose a list of items applicable to trust building. Afterwards, the transition from fair play to trust will be handled through the methodology of coherence along with a discussion of the strengths and weaknesses of the association "fair play + trust" in terms of corporate performance. Finally, we shall conclude with the practical perspectives of applying these propositions.
- Subjects
BUSINESS ethics; FAIRNESS; TRUST; LOYALTY; BUSINESS planning; BUSINESS communication; STAKEHOLDERS
- Publication
EBS Review, 2005, Issue 20, p30
- ISSN
1406-0264
- Publication type
Article