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This article argues that ethical risk is one of several risks that need to be accommodated. It is further argued that ethical risks are just as potent in consequences as are other risks, such as financial and reputational. Managing ethical risk is, essentially, about following a code and of not being corrupt: for that reason corruption figures prominently in such discussions. In particular there is a concern that an organizational code of ethics or a company code of conduct may be at odds with a professional code (medicine or engineering, say). In such cases it is argued that the professional code is prime. Presumably a person is employed as an engineer or a medical practitioner and thus their subscription to appropriate professional standards is paramount. Any ethical charge therefore needs to express a particular breach in terms of at least one section of the professional code, rather than the...
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References
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Whistleblower’s guide. http://www.huffingtonpost.com/adam-resnick/a-10-step-guide-to-whistl_b_4810485.html?ir=Australia
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Francis, R.D. (2016). Ethical Risk Management. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2385-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_2385-1
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Publisher Name: Springer, Cham
Online ISBN: 978-3-319-31816-5
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