Lessons From Penn State -- Businesses Need to Review Reporting Policies and Conduct Ongoing Training
Breakfast Briefing: Lessons From Penn State -- Businesses Need to Review Reporting Policies and Conduct Ongoing Training
The Penn State fiasco has undoubtedly caused great damage in the lives of the alleged victims, to the careers of Penn State athletic staff and university officials, and to the reputation of the university. Although many facts are not yet clear, it appears that a very bad situation became exponentially worse as a result of problems with the reporting system, failures to report or both. Moreover, while certain administrators and staff may not have violated a particular law, they have nevertheless been the subject of disciplinary measures and public outrage based on a perception that their actions violated basic ethical standards.
Although Penn State is an educational institution, private and public businesses of all sizes face potential civil and criminal liability for the failure to deal properly with alleged violations of the law and ethical standards by their employees and in their facilities. Boards of Directors and management should take a fresh look at existing codes of conduct/ethics to confirm that their policies still adequately cover their operations. Perhaps more importantly, each business should regularly offer training to management and other employees to make sure that they understand their duties and responsibilities and create a culture where potential legal and ethical problems will be properly reported and addressed before they become overwhelming issues.
Please join use for a breakfast briefing at 8:00 a.m. on Thursday, January 19th, 2012, where we will discuss some of the steps you should take to minimize the risk that your business and your management could incur damage as a result of a failure to deal appropriately legal or ethical problems. This session should be of interest to directors and officers, particularly CEO's, COO's, General Counsels and Human Resources managers.