Sir ElLis: Abuse of power to encourage monopolies

In an obvious reference to TSTT’s monopoly, one sixth form attending Junior Achievement’s (JA) Speakers Forum on business morality and ethics, wanted to know whether  it was ethical for any government to continue to protect it.

Panellist and former President Sir Ellis Clarke response was that monopolies have been considered ‘bad things’ for many centuries. However, he explained that it may be the policy of a particular government to permit a certain monopoly to a certain extent for a limited time. Ethical behaviour and morality in business were the issues that dominated the JA at the Trinidad Hilton.  Titled, “Ethics — the New Demand in Business” it was hosted by JA in collaboration with ROYTEC. The 300 sixth formers who gathered for the forum grilled guest speakers — former  Presidet Clarke; Sir Dwight Venner, Governor of the Eastern Caribbean Central Bank and Sam Taylor, chief operating officer, JA International — on different aspects of business ethics and morality. “The monopoly,” said Sir Ellis, “might be in an industry that needs tender care and protection. So there may be circumstances where it would be proper and ethical for a government to give special protection to a monopoly.”  He noted though that it would certainly be an abuse of power to encourage monopolies. 

Sir Ellis Clarke said there is no doubt that morality is difficult to instil in the business arena. “You can implement certain rules and laws, but in the general run of things there are some people who try to ‘escape’ these rules and laws” adding, “some people even try to escape the divisions of the Constitution when they have to make decisions.” Sir Ellis observed that morality goes a lot deeper than the question of laws and rules. The law, he said, enforces penalties and standards so people in business and in every aspect of life accept certain basic principles of propriety, morality and justice. “But people should do the right thing without somebody holding a weapon over their heads. If this is the way the law operates, some people will find ways to escape or circumvent the law.” He added that while the rules and laws are useful in some circumstances, morality and ethics are needed to transcend the law in some instances. “The demand for morality and ethics in business was always there. It is something that we have not seen, but it is something fundamental to our existence in every sphere, including business,” Sir Ellis said. 

Taylor said the challenge for people right now is for them to discover their own ethics. “What do you really value and why? You get down to what is important to you and what forms the basis for your ethical behaviour.” Taylor said laws tend to follow the behaviours that are developing in society. “The challenge for people, especially young people is to identify what their values are and that should guide them,” he advised. Taylor added that taking a specific route in life does not make someone an ethical person. Sir Dwight Venner, believes that business ethics and morality should improve in the coming years. He said in response to all the revelations of bad business practices in large firms like Enron and Worldcom, many organisations are going to take stock of themselves and try to improve their values and ethics. “I think that what we are seeing in the world with respect to issues like war and HIV/AIDS, are a lot of people re-examining themselves spiritually and otherwise,” he told the students. Sir Ellis said it is necessary that people ask themselves certain basic ethical questions. “I think now we should start asking ourselves questions like ‘who am I? and what is my purpose in the world?’ Because our ethics and morality will depend on our answers to those questions.”

He said each person’s ethics will tell them that certain things are permissible while other things are not. “We have to become clearer in our thinking. There was a time when we did not question issues like these and simply went along with what we were told. I think we are now developing simple fundamental concepts about what life is really about.” One student asked the panellists to give business owners some advice on how to save their businesses during the war. He said during the war of all wars — World War II — there was an infusion of innovations that were incredible. “Now I am not advocating that we have a war for innovation, but the truth of the matter was that a lot of technological innovations came out of the adversity.” He said his advice would be to hope that the war finishes quickly and that businesses do what they do best — look for opportunities or problems that they can solve.

Pressed on the roles of women in business, Sir Ellis said the fairer sex is making its mark in the world today. “I honestly believe that men are in a dying breed. Women are proving to be very successful in the corporate world and might very soon dominate the boardrooms.” Earlier, Wanda Bernard, marketing manager, ROYTEC, said the incidents of questionable business practices and occurrences within recent times has raised the question of whether schools can adequately prepare future leaders to deal with the issues of ethics in business life. “With corporate scandals and billion dollar bankruptcies dominating headlines for more than a year, business ethics have become a hot topic from the corporate boardrooms to the business school campuses.” She said some corporate icons who were formally referred to in the halls of learning as successful business leaders are no longer occupying the pinnacle  normally reserved for those with a demonstrated track record of success. “They have, however, re-emerged as subjects of corporate case studies in the study of questionable business practices,” she noted. Bernard said the scandals associated with business have forced employers to ensure that employees at both the clerical and professional levels possess the correct attitude and behaviour for the workplace. “Employers consider these areas key prerequisites for employment,” she said.