February 17, 2011-Can business ethics help turn around the struggling U.S. economy? The fundamental economic principles needed to answer that question will be discussed in depth at the University of Utah on Friday, February 25, 2011 during a series of community discussions led by Stephen B. Young, global executive director of the Caux Round Table, an organization concerned with business conduct.

The free sessions are open to University of Utah students, business executives and educators and will be held in room 205 of the C. Roland Christensen Center, 1645 E. Campus Center Drive (north of the Utah Museum of Fine Arts). Seats are limited and an RSVP is required by calling 801-587-9577 or emailing ethics@business.utah.edu.

According to Young, “single-minded fixations-like putting personal concerns over those of other stakeholders, or the attitude that to take the money and run is an acceptable practice-led to meltdowns. Ethics provides balanced judgment and, therefore, long-term success.”

“It is our goal with the Bill Daniels Ethics Initiative to introduce business ethics principles to the widest possible audience,” said Professor of Finance Cal Boardman, chair of the Bill Daniels Ethics Initiative at the University of Utah. “It will be great to hear Stephen Young’s practical and global viewpoints on ways to avoid ethical risk in business.”

Young will address more than just the risks involved, but also offer advice on succeeding through sound business ethics. “It is important to understand that the integrity of an organization also has to focus on nonfinancial areas of performance,” said Young.

“One tool we use is to conduct a 360-degree evaluation of an enterprise, employing a multiple stakeholder approach to evaluating corporate risk and value. I’ve used this with business students at the Carlson School of Management at the University of Minnesota where we evaluated the ethical risk of 3M, Toyota and Unilever.”

Roundtable schedule:

7:45 to 9:15 a.m.-Lessons in Ethics from the Financial Crisis: Failure to Predict Failure. A breakfast buffet will be provided.

11:30 AM to 1:30 p.m.-Global Principles and Practical Assessment of Ethical Risks in Business, a luncheon seminar for students of business and other interested guests.

2:00 to 3:30 p.m.-Charting a New Course: Teaching Business Ethics with Caux Round Table Principles and Practices

The Caux Round Table Principles for Business were developed by international business leaders in 1994 as a guide for ethical and responsible corporate business practices. They focus on the importance of global corporate responsibility in reducing social and economic threats to world peace and stability and outline a world standard against which business action can be measured.

The discussions are sponsored by the Bill Daniels Ethics Initiative at the David Eccles School of Business, with sponsorship from the Daniels Fund.