Can we make businesses more ethical? | Elena Lopez | TEDxWarwickSalon

Summary

Elena Lopez, a business ethics consultant, shares her journey and insights on preventing corruption, human rights abuses, and promoting ethical business practices. Drawing from real-world scandals like Rana Plaza, Boohoo, and Volkswagen, she emphasizes the importance of business ethics, not only to avoid legal and reputational damage but to create ethical workplaces. Lopez urges individuals to make a difference by speaking up, researching their employers, and making responsible purchasing decisions. She stresses that ethical behavior in business impacts everyone, regardless of their career path, and encourages active involvement in fostering a culture of integrity.

Takeaways

• 🌍 Elena Lopez is a business ethics consultant who works in human rights and anti-corruption.
• 📚 She developed her interest in these topics while growing up in Spain and pursued studies in PPE at Warwick and a Master's in Development Studies at Cambridge.
• 🏛️ Initially, she believed she would work on these issues from the public sector, but her Master's opened her eyes to the role of business ethics in the private sector.
• 🏢 Business ethics involves compliance officers and human rights officers within companies, as well as external consultants like herself, who advise companies on meeting regulations and ethical standards.
• 🔍 Major scandals like the Rana Plaza disaster, Volkswagen's Dieselgate, and the Boohoo factory wage scandal are only the tip of the iceberg compared to daily injustices that occur within companies.
• ⚖️ Lopez's work involves investigating how companies treat workers, interact with governments, and impact the environment to prevent corruption and human rights abuses.
• 🗣️ The role of a business ethics consultant includes providing solutions and recommendations for companies to improve practices and comply with legislation.
• 💼 Companies seek help due to increasing pressure from legislation, such as the UK Modern Slavery Act and EU Whistleblowing Directive, as well as from consumers and investors pushing for ethical business practices.
• 🙋‍♂️ Employees in all fields, even outside business ethics, can contribute by speaking up about unethical practices, giving feedback on company policies, and promoting a culture of care.
• 🛒 Consumers can also make a difference by being mindful of their purchases, researching company practices, and advocating for more transparency through social media.

Q & A

Who is the speaker, and what is her professional background?

The speaker is Elena Lopez, a business ethics consultant who works in human rights and anti-corruption. She has a background in PPE (Philosophy, Politics, and Economics) from Warwick University and a Masters in Development Studies from Cambridge University.

What inspired Elena Lopez to pursue a career in anti-corruption and human rights?

Elena Lopez was inspired to work in anti-corruption and human rights due to the frequent news coverage of bribery and corruption while she was growing up in Spain. Her academic background furthered her interest in these areas.

What are some notable scandals Elena Lopez mentions in her talk?

Elena mentions several notable scandals: the Rana Plaza building collapse in Bangladesh (2013), the Boohoo supplier scandal in Leicester (2020), the Volkswagen dieselgate scandal (2015), and the Goldman Sachs bribery scandal in Malaysia and Abu Dhabi.

How does Elena Lopez describe her work as a business ethics consultant?

Elena investigates how companies treat their workers, communities, and the environment. She advises companies on how to meet legal standards and best practices, ensuring that they avoid human rights abuses and minimize corruption risks.

What role does legislation play in business ethics according to Elena Lopez?

Legislation plays a significant role in pushing companies to act ethically. Elena references various laws such as the UK Bribery Act, the US Foreign Corrupt Practices Act, and European human rights due diligence laws, which require companies to adopt ethical practices.

Why do companies seek the help of business ethics consultants like Elena Lopez?

Companies seek help from business ethics consultants either after scandals, to avoid future issues, to comply with legislation, or to meet the increasing expectations from consumers and investors regarding ethical business practices.

What are some of the less-publicized injustices Elena Lopez has witnessed in her work?

Elena has witnessed injustices like employers requiring women to take pregnancy tests monthly, surveillance of employees to prevent them from resting, water scarcity issues in factories, and the dismissal of trade union representatives.

What advice does Elena give to individuals entering the workforce regarding ethics?

Elena advises individuals to give feedback on internal policies, speak up when they see something unethical, use whistleblowing systems, and ensure that they create a culture of care and respect if they manage teams.

How can individuals make ethical choices in their private lives, according to Elena?

Individuals can make ethical choices by learning more about business ethics, critically consuming social media, using their purchasing power wisely, researching employers, and holding companies accountable for unethical practices.

What is the significance of consumer and investor pressure in ethical business practices?

Consumer and investor pressure is increasingly pushing companies to adopt ethical practices. Scandals and greater awareness mean that companies risk losing revenue and investment if they fail to meet ethical standards.