All future-fit goals can, and should, be interpreted as matters of business ethics that apply to any company.
This goal, in contrast, focuses on the proactive identification, pre-emptive prevention, and transparent disclosure of any specific issues which could – due to the unique nature of a company’s business – lead to breaches of Future-Fit Business Principles.
The kinds of ethical breaches that might occur will vary widely across companies, depending on their size, structure, sector, business model, geographical presence, and so on. A future-fit business is not one that is completely immune to ethical concerns and challenges, Rather, it is one that puts in place effective mechanisms to reduce the likelihood of breaches, to encourage people (employees and third parties) to raise the alarm when one does occur, and to respond effectively to them.
Examples of potential issues include:
- Anti-competitive practices (e.g. unfair treatment of suppliers, price fixing cartels).
- Bribery (e.g. paying or accepting bribes, including in regions where doing so is considered the norm).
- Dis-information (e.g. misrepresenting or failing to disclose information which could influence the decisions or wellbeing of stakeholders).
- Abuse of trust (e.g. inappropriate use of sensitive personal data).
- Wilful ignorance (e.g. neglecting to investigate supply chains in which human rights abuses are suspected).