World’s Most Ethical Companies Honored
In a world where corruption seems to have permeated society on many levels, a growing number of companies are recognizing the value of establishing solid principles of business ethics by which to conduct their day-to-day affairs. Not only does this ensure that they never run into trouble with authorities, but very often sound business ethics and transparency can attract investors and consumers alike. In recognition of companies that have not only set sound business ethics down on paper, but gone the extra mile to reach their goals, Ethisphere has selected 100 companies to receive the honor of being named as the “World’s Most Ethical Companies” for 2010.
Of the 100 companies selected this year, there were 26 newcomers, with 24 dropping off the list. Companies are nominated and judged according to a set of criteria, as well as being compared to their peers in various market sectors. Increased competition within a sector or falling short of requirements can result in a company dropping off the list.
The scoring methodology utilized by Ethisphere was developed by a committee consisting of professors, attorneys, organization leaders and government officials, each contributing their expertise. Companies from around the globe submitted their applications to be considered for the list, and based on these applications, together with information gathered independently by Ethisphere, semi-finalists were selected. These semi-finalists were then provided with an in-depth questionnaire relating to their ethics and compliance program, as well as their corporate responsibility and governance principles. The questionnaires were researched and verified by Ethisphere, and measured against seven categories before each company was given an EQ score. The categories were Corporate Governance; Industry Leadership; Corporate Citizenship and Responsibility; Innovation that Contributes to the Public Wellbeing; Executive Leadership and Tone from the Top; Industry Leadership, Internal Systems and Ethics/Compliance; and Legal, Regulatory and Reputation Track Record.
The winners of the World’s Most Ethical Companies 2010 were placed under thirty-five categories and included well-known names such as Nike (Apparel), Ford Motor Company (Automotive), Barret Jackson Auction Company (Auctions), Dun & Bradstreet (Business Services), Standard Chartered Bank (Banking), Hewlett-Packard Company (Computer Hardware), Adobe Systems (Computer Software), Xerox (Consumer Electronics), L’Oreal (Consumer Products), General Electric (Diversified Industries), American Express (Financial Services), Johns Hopkins (Healthcare), Rezidor Hotel Group (Hotels, Travel & Hospitality), Caterpillar (Industrial Manufacturing), Google (Internet), Thomson Reuters (Media, Publishing & Entertainment), Starbucks (Restaurants & Cafés) and Vodafone (Telecom Services).