Higher Ground: How Business Can Do the Right Thing in a Turbulent World

A guide to help companies navigate the new era of ethical challenges and risks in a volatile global landscape, emphasizing the importance of treating ethics as a legal and reputational defense mechanism and building trust to achieve long-term strategic advantage.

Format: Hardback
Length: 256 pages
Publication date: 13 February 2024
Publisher: Harvard Business Review Press

In the face of mounting ethical challenges and risks in a dynamic global landscape, companies must navigate a complex terrain with utmost diligence. Recent headlines have highlighted employee unrest over racial injustice, communities infuriated by corporate environmental impacts, staff anxiety over surveillance, public outrage over corruption in business, and the discovery of child labor in supply chains. The old world of business ethics, characterized by black-and-white concerns about bribery and fraud, has given way to a more nuanced and complex landscape. Simply maximizing shareholder value while adhering to the law is no longer sufficient; companies must now prioritize doing the right thing, understanding its profound importance in a world where transparency and accountability are paramount.

In her groundbreaking book, "Higher Ground: Navigating the New Era of Ethical Challenges and Risks in a Volatile Global Landscape," NYU Stern ethics professor Alison Taylor makes a compelling case that ethics cannot be treated as a mere legal and reputational defense mechanism. Stakeholder demands and transparency pressures have pushed companies to reevaluate their practices and embrace a new corporate responsibility paradigm. However, organizations face significant challenges in implementing these ideas in an atmosphere of heightened expectations and intense suspicion.

Through vivid stories and examples drawn from her extensive experience in anti-corruption and advising companies on ethics, Taylor brings this complex and risky environment to life. She offers a comprehensive blueprint for leaders seeking to rethink and reshape their practices, providing valuable insights into how CEOs can set robust environmental and social priorities, navigate contentious social and political issues, build healthy organizational cultures, and approach corporate values in a divided society.

One of the key themes in "Higher Ground" is the importance of cutting through the noise to set clear ethical priorities. Taylor argues that CEOs must be bold and decisive in identifying the issues that matter most to their stakeholders and their organization. This requires a deep understanding of the social and environmental challenges facing their industry and a willingness to take a stand on contentious issues. By setting robust environmental and social priorities, companies can demonstrate their commitment to sustainability and social responsibility, which can enhance their reputation and attract socially conscious consumers.

Another critical aspect of the book is the role of CEOs in speaking out on social and political issues. Taylor recognizes that companies have a responsibility to address the broader societal challenges they face, beyond their immediate operations. She encourages leaders to use their platform to advocate for social justice, promote equality, and address the root causes of social and environmental problems. By speaking out on these issues, companies can build trust with their stakeholders and contribute to the betterment of society as a whole.

Building a healthy organizational culture is another key theme in "Higher Ground." Taylor argues that companies must prioritize the well-being and development of their employees, as well as their customers and stakeholders. This requires a culture of transparency, trust, and respect that fosters collaboration and innovation. By creating a supportive and inclusive environment, companies can attract and retain top talent, improve their productivity, and achieve long-term success.

In conclusion, "Higher Ground: Navigating the New Era of Ethical Challenges and Risks in a Volatile Global Landscape" is an indispensable guide for companies seeking to navigate the complex terrain of ethical challenges and risks in a dynamic global landscape. Through her compelling arguments, vivid examples, and practical insights, Alison Taylor provides leaders with the tools they need to rethink and reshape their practices, prioritize doing the right thing, and build sustainable and socially responsible organizations. As the world continues to evolve, companies that embrace ethical leadership will be well-positioned to thrive in the years to come.

Weight: 612g
Dimension: 166 x 243 x 28 (mm)
ISBN-13: 9781647823436