The Power of One
by Anton Colella, Chief Executive, Institute of Chartered Accountants of Scotland | January 26, 2016
Since the global financial crisis, the public’s trust in business institutions has been severely eroded, and it shows little sign of coming back in a hurry.
I don’t believe most people going into business do so with the idea of acting unethically, but there is a great deal of public skepticism to overcome. It is important that we look for ways to restore that trust, and that it is seen to be justified.
In recent years, the response to corporate or institutional failure has often been to call for, and indeed introduce, more regulation. Clearly, there’s a place for good, effective regulation, but on its own that is not enough. Ultimately, every corporate failure has its roots in a personal failure, on the part of one or more individuals, to take the right course.