The best business ethics books

Ari Waldman’s Industry Unbound eviscerates many of the current privacy laws and corporate privacy programs. On the surface, we appear to be living in the golden age of privacy law. Privacy laws are being passed at a feverish rate. Many companies now have dedicated teams of individuals who build a privacy program at the company to comply with the laws, assess privacy risks, train employees, and ensure that products and services are designed in ways that are protective of privacy. Unfortunately, Waldman contends, these privacy programs are hollow. They amount to building a meaningless paper record and end up cloaking poor privacy practices with a pretty facade. Even those who do not agree with the potency of Waldman’s critique must take note of the concerns he raises. His arguments are essential to engage with.  

Covey’s book unlocks the nature of Trust and its critical value in life and leadership.

He explains that trust is about confidence in a person or relationship. To be trusted we need to be credible and he illuminates the four cores of credibility in two categories – our confidence in someone’s Character and our confidence in their Competence. The two core attributes of Character are Integrity and Intent. The two core attributes of Competence are Results and Credibility.

This clear explanation, and some of Covey’s diagnostics, have been very helpful to me in really understanding the notion of Trust and then working with executive to enable them to build greater trust and vulnerability with each other. Trust is the bedrock of great teams and great relationships. 

I strongly believe business leaders and brands must engage with all stakeholders (including society and the planet) to thrive – and this is the essence of John Browne’s message in Connect.

Browne, a former CEO of BP, contrasts positive engagement with traditional corporate social responsibility, which he contends is often more about complying with laws and regulations and looking good rather than doing good. 

The first half of the book provides real world examples of how corporate success is dependent on greater engagement with society.

And the second examines Browne’s four tenets of connected leadership – map your world, define your contribution, apply world class management, engage radically – and how companies can exemplify them going forward and profitably place society at the heart of business.

Economists are arguing to this day what gave rise to the enormous rise in living standards since the 1750s. Deirdre McCloskey argues in this first book of her Bourgeois trilogy that it resulted from a cultural shift in which bourgeois virtues replaced aristocratic ones. The book opened my eyes to the importance of cultural attitudes (dignity and stigma) of various economic and social activities. McCloskey claims that sustained economic growth and innovation were crucially dependent on the dignity of the bourgeois and their commercial activities. McCloskey’s fluent prose which interweaves empirical historical knowledge with literary allusions remains a model to me. 

Drawing on years of business school teaching and research and leading negotiation trainings in many countries, Shell provides an important guide for people to stand up for their values in business, law, and complex work situations. Real-world stories put flesh on the bones of outlines of both philosophical and political approaches to difficult choices in career and workplace negotiations. This book can assist any negotiator in figuring out what is really important to them (and their clients and organizations) and then how to actualize behaviors that make principled change happen. This book also provides great advice about when to walk away from the negotiation table or a particular task or job because higher values call.

At a time when businesses are targeting net zero carbon emissions, Net Positive is a rallying cry for leaders to embrace a wider definition of sustainability.

As Paul Polman, former CEO of Unilever, who I’ve had the privilege of interviewing, and Andrew Winston explain net positive companies improve the lives of everyone they touch, increasing long-term shareholder returns in the process; take ownership of social and environmental impacts their business models create, viewing these as opportunities to innovate; and partner with competitors, civil society and governments to drive transformative change. 

Although some concepts presented in this book were not new to me, the authors’ examples add meaningful perspective. Net Positive affirmed my belief in purpose-led organizations and the power of business to do more.

Often called the “Father of Advertising,” David Ogilvy pulls back the curtain on his career and the advertising industry in the mid to late 1900s.

Strategic and creative approaches to marketing that he and his colleagues took decades ago are still timely, relevant, and applicable in today’s social and digital media world.  

My writing focuses on ethical failure, situations where people, when given the choice between the morally right and the morally wrong, choose the latter. Tackling the thornier “right versus right” ethical dilemmas is far more challenging. To do it requires an individual who is both a masterful thinker and writer. Joseph Badaracco is just that. In this brilliant book, Badaracco takes the reader into the minds of business people, at different levels of seniority, facing right versus right ethical dilemmas of increasing complexity. By doing so Badaracco not only provides insight into how challenging these dilemmas are to navigate, but also how finding a sensible path through is possible. This book is a must-read for business ethics students and practitioners.

Emotions and emotional intelligence (EQ) aren’t taught in business school, and are rarely evident in abundance in the corner offices of CEOs. And yet here’s one ready to admit to the errors of his earlier ways, and to have adjusted his leadership style at Best Buy accordingly. If it can happen in business, why not in politics, too, perhaps saving us from leaders who lack empathy.

The contribution Mary Gentile has made to modern-day business ethics education is unparalleled and it is in Giving Voice to Values that the story behind the curriculum she has developed resides. This book outlines the assumptions, research, and principles associated with the unique approach to business ethics education Gentile has developed. But more importantly, it provides the reader with practical guidance and advice on how they can prepare for and engage in those (at times challenging) conversations that aim to address issues with ethical import in their organisations. After reading this book, tools like pre-scripting, practice, and peer coaching will become part of your repertoire, and you will be better for it.

The majority of (if not all) ethical failures in the business world are caused by suboptimal (and at times completely flawed) incentives. If one wants to be a serious business ethics practitioner, then a basic understanding of incentives is a must – they matter. In this book, Jason Murphy provides a whirlwind tour of how incentives operate to drive both positive and perverse outcomes across a range of settings. The book is packed full of stories to illustrate the power of incentives and I think Murphy is onto something with the title – Incentivology should be a compulsory course in any undergraduate business or public policy course. And for Australian-based students and practitioners an extra bonus – Murphy is a local author.

One of the risks that the Compliance Officers oversee is the risk of money laundering; depending on how it is managed, it is possible to minimize reputational risk. This book helped me pinpoint precisely the necessary elements that must be included in a compliance plan to achieve strong corporate responsibility and compliance culture. By having those controls in place, money laundering and even any other white-crime risk are minimized and, incidentally, reputational risk. If you apply this, the company you work for it's going to be protected, and your boss is going to be happy, a win-win for everyone!

Austin, Texas, where I now live, is home to the first Whole Foods in America. Before the chain of grocery stores was bought out by Amazon, I used to shop there. Then I stopped, or well, I no longer went as often, because I learned in LoRusso's book that company founder John Mackey promoted a libertarian spirituality that considered government interference morally hostile and went as far as to proclaim Obama Care a form of fascism.