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Joan Fontrodona, Professor of Business Ethics, IESE Business School

See them coming

Fri, 13 Jan 2012 11:47:01 +0000 Published in ABC

Many of the problems we face would be avoided if we were a little more cautious. You have to see the problems coming. Many times we see them coming, but we have an innate ability to convince ourselves: "it won't be so complicated", "it's not so bad", "everybody does it", "I won't get caught", "I'll know how to find a good explanation"... And so we get ourselves into the problem, until when we want to get out of it, it's already too late. At other times, no: we do not see them coming, due to lack of awareness, lack of foresight, or lack of light... there are all kinds of things.

In the business world there are issues that are particularly prone to this dynamic. For example, insider trading. We have experienced the recent case of the president of the Swiss central bank. The information I have because of my position, can't I use it, not even a little bit?

Another area is conflicts of interest that arise when the same person plays different roles, which can lead to unclear situations or obvious incompatibilities. We have also had recent cases. A third case arises from the mix between the staff and the professional at work. Where do you draw the line? When does a good atmosphere turn into a bad atmosphere?

In all these matters, once you have got involved, it is very difficult to get out of it. Therefore, an elementary measure of prudence is to know how to put enough distance, so that there is no shadow of doubt. You have to see them coming... and you have to let them pass.