Global Conclave on Ethics: Finding balance between cooperation and competition
The Global Conclave on Ethics took place on 19 February, bringing together over 150 participants online. The event was organised by the Bombay Management Association and the Dr K.S. Basu Memorial Trust, with the support of Globethics.net, the Mahendra & Young Knowledge Foundation and the Mervyn King Academy for Sustainable Development in Asia. The aim of the Global Conclave on Ethics was to reinforce the practice of ethics in business decision-making and sensitise business leaders and managers.
Globethics.net President and Founder Dr Christoph Stückelberger gave an address at the event, highlighting the interdependency of all sectors of society. He emphasised the need for solidarity, which has been emphasised by the COVID-19 pandemic and also to find a balance between cooperation and competition within markets. When considering business ethics on a global scale, he made reference to the latest regulations, such as the EU ESG legislation, which has made it compulsory to implement values driven behaviours. He noted the need for ‘integrated initiative to reflect integrated thinking in building a holistic view of business in society today'.
He further addressed the importance of values, and more specifically, common values, which we share across cultures, religions and nations. He argued that we all some common values because we are all human beings and listed values such as fairness, freedom, justice and respect. He introduced the Triple H approach: heart, head and hand to help us in balancing opposite values, as described in his book Globalance. The heart component signifies the embedded values within us but also reflected within our organisations, head to mirror rational thinking and deep analysis, and lastly the hand, which symbolises reaching out to impact the world with ‘sustainable and scalable solutions'.