Meet Arun K. Mathur, FCPA, FCA, owner and lead instructor at UltimQuest Knowledge Inc. Arun has over 35 years of teaching and corporate training experience on ethics, governance, internal control and related topics.
Arun is Partner at Gerald Duthie & Co. LLP, where he provides professional services to diverse group of clients. He provides live and online training through CPA bodies across Canada and Bermuda. He served on the Board for HealthForce Ontario Marketing and Recruitment Agency, was Chair of the Finance and Audit Committee, and at Trillium Gift of Life Network.
Watch Arun live at his upcoming seminar Ethics in Professional Practice – What Canadian CPAs Need to Know, or check out one of his Video On-Demand titles. Read his article below on how your business can respond ethically in a crisis.
How can your business respond ethically in a crisis?
By Arun Mathur, FCPA, FCA, originally published at ultimquest.com
Each organization will have its own challenges during a crisis. There are no right or wrong ways to do things, however, navigating the crisis using an ethical compass is crucial. Here are some things to consider:
AVOID A KNEE JERK REACTION
If you act out of impulse without thinking things through, there could be tremendous unexpected collateral damage. For example, you might destroy relationships that took years to build. Thinking long term may help you find a better solution.
RESPOND ACCORDING TO YOUR CORE VALUES
When facing a crisis, organizations are forced to balance their bottom line with concern for stakeholders. Under such pressure, you might stray away from your core values. It is important to remember these values as they are like your company's DNA. Re-aligning yourself with them can help you make the best decisions.
USE YOUR HEAD AND YOUR HEART
Making smart business decisions with compassion and empathy is critical during a crisis. For example, the global COVID pandemic is forcing organizations to humanize their business practices. Companies who do this well will be remembered long after the crisis is over.
ROLL UP YOUR SLEEVES AND DO YOUR BEST
Unfortunately, there is no manual on how to survive a crisis. Stephen Covey's 3 Circles of Influence remind us to focus on our Circle of Control. You will try things - some may be successful while others may fail. You will get through the crisis by remaining optimistic and doing your best.
