We strongly believe that good ethics mean good business. This isn’t just an empty phrase, either: We know from our own experience that often it pays great dividends to go the extra step and taking into account the implications of business decisions.
This is especially true in areas that employ new technologies, simply because there are more unknowns in emerging tech. And more unknowns = higher risks.
Our field of operation is at the intersection of emerging tech, strategy, and good business ethics.
Take, for example, the global tech company’s VP who adapted community-driven guidelines for data ownership in IoT: He knew that this particular pioneer community had a deeper understanding than most of the issues at stake. Even though these data ownership guidelines meant possibly losing some short term revenue gains, he trusted in their long-term positive side effects. Now, and at the time unexpectedly, his organization is in a better position than most to comply with the new EU data protection regulation (GDPR). Even before that, these guidelines likely inspired user trust and confidence.
Other companies lose their best talents because of sketchy business tactics—to those who are honest and trustworthy, and have a credible and powerful mission.
If you pay attention you’ll find these examples everywhere: Good ethics aren’t a buzzword, nor are they rocket science. They’re 100% compatible with good business. They might just be a requisite.