513: Business ethics as a competitive advantage (with J.S. Nelson)

513: Business ethics as a competitive advantage (with J.S. Nelson)

Welcome to Strategy Skills episode 256, an episode with an expert in business law and business ethics, J.S. Nelson. Get J.S's book here: https://amzn.to/3C8am91

Managing business ethics has always been a challenge for many organizations. As unethical business conduct rises, the struggle of implementing ethics and compliance programs in organizations also increases. Business ethics can make or break your business or career. But it can be used as a competitive advantage if managed correctly and can build the most valuable asset: your reputation.

The key is to articulate your organization's values – defining who you are, what you stand for, and extending it toward every inch of your organization. It's very important for management to cultivate a culture of openness, where people feel safe to speak up and where ethical misconduct is not tolerated. As J.S. mentioned in this episode, "the way to get the behavior that you want is to intervene early and often."

In this episode, J.S speaks about the value of business ethics, the major schools of philosophical ethical thought, and how understanding it can help people become better at being ethical. She discusses the ways an organization can cultivate ethical behavior and how to get away from situations involving ethical traps in the modern business world.

Nelson is an expert in business law and business ethics. She is a visiting professor at Harvard Business School. Nelson was the first tenure-track appointment in a U.S. law school, specifically to teach business ethics and to develop law-school curricula around the subject.

Nelson has spent nearly fifteen years teaching at top universities across the country, including Villanova Law School, the Stanford Graduate School of Business, Haas Business School of the University of California at Berkeley, Drucker School at Claremont Graduate University, and the Mihaylo School at Cal State Fullerton.

Prior to her work in academia, Professor Nelson served as staff counsel for the U.S. Court of Appeals for the Tenth Circuit, and she clerked for the Honorable David M. Ebel of the U.S. Court of Appeals for the Tenth Circuit and the Honorable William H. Yohn Jr. of the U.S. District Court for the Eastern District of Pennsylvania. She also worked as a deputy district attorney and as a business litigator in Denver, Colorado. Nelson graduated from Harvard Law School, where she was the Supreme Court Co-Chair of the Harvard Law Review. She earned a Bachelor of Arts in Political Science with honors and distinction in the major from Yale.

Get J.S's book here:

Business Ethics: What Everyone Needs to Know, J.S. Nelson & Lynn A. Stout: https://amzn.to/3C8am91

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63: Talk me through your resume, sample answer

63: Talk me through your resume, sample answer

In this series of podcasts we look at each of the typical McKinsey/BCG FIT/PEI questions and provide a typical answer. Note, that while replicating this approach and standard will help you, we caution you that the main test of fit is in handling the cross-examination of your answer. Most candidates tend to be unprepared for that and we urge you to be very aware this will happen and to practice this interrogation style. You can never memorize your way out of these interrogations questions, since you cannot predict the actual question and, therefore, prepare for them. At least 20% of clients ignore this advice at their peril. Talk me through your resume, sample answer

24 Maalis 201214min

62: Why is BCG appealing to you, sample answer

62: Why is BCG appealing to you, sample answer

In this series of podcasts we look at each of the typical McKinsey/BCG FIT/PEI questions and provide a typical answer. Note, that while replicating this approach and standard will help you, we caution you that the main test of fit is in handling the cross-examination of your answer. Most candidates tend to be unprepared for that and we urge you to be very aware this will happen and to practice this interrogation style. You can never memorize your way out of these interrogations questions, since you cannot predict the actual question and, therefore, prepare for them. At least 20% of clients ignore this advice at their peril. Why is BCG appealing to you, sample answer

18 Maalis 201210min

61: Why are you interested in this office, sample answer

61: Why are you interested in this office, sample answer

In this series of podcasts we look at each of the typical McKinsey/BCG FIT/PEI questions and provide a typical answer. Note, that while replicating this approach and standard will help you, we caution you that the main test of fit is in handling the cross-examination of your answer. Most candidates tend to be unprepared for that and we urge you to be very aware this will happen and to practice this interrogation style. You can never memorize your way out of these interrogations questions, since you cannot predict the actual question and, therefore, prepare for them. At least 20% of clients ignore this advice at their peril. Why are you interested in this office, sample answer

12 Maalis 201211min

60: Why did you go to Arizona state, sample answer

60: Why did you go to Arizona state, sample answer

In this series of podcasts we look at each of the typical McKinsey/BCG FIT/PEI questions and provide a typical answer. Note, that while replicating this approach and standard will help you, we caution you that the main test of fit is in handling the cross-examination of your answer. Most candidates tend to be unprepared for that and we urge you to be very aware this will happen and to practice this interrogation style. You can never memorize your way out of these interrogations questions, since you cannot predict the actual question and, therefore, prepare for them. At least 20% of clients ignore this advice at their peril. Why did you go to Arizona state, sample answer

5 Maalis 20126min

59: Please elaborate on a weakness, sample answer

59: Please elaborate on a weakness, sample answer

In this series of podcasts we look at each of the typical McKinsey/BCG FIT/PEI questions and provide a typical answer. Note, that while replicating this approach and standard will help you, we caution you that the main test of fit is in handling the cross-examination of your answer. Most candidates tend to be unprepared for that and we urge you to be very aware this will happen and to practice this interrogation style. You can never memorize your way out of these interrogations questions, since you cannot predict the actual question and, therefore, prepare for them. At least 20% of clients ignore this advice at their peril. Please elaborate on a weakness, sample answer

28 Helmi 201212min

58: Rules for FIT and PEI Case Interview Questions

58: Rules for FIT and PEI Case Interview Questions

In this podcast we outline some simple guidelines to use for McKinsey and BCG FIT/PEI cases. The objective is to know what each firm is for and then design the answer to address each of those points. The objective of FIT is not to deliver your life story. That is largely meaningless but unfortunately a common tactic used by many candidates.

22 Helmi 201214min

57: Strategies for Written Case Interviews

57: Strategies for Written Case Interviews

Written cases, pioneered by Monitor Deloitte, and now used by all firms are very intimidating. Written cases actually test core prioritization skills much better than verbal cases, since written case interviews can dump tonnes of data on a candidate. The trick to written cases is to have a filtering system to find the data you need from the worthless data, and of course, recognizing that not all the data is useful. Written cases mirror cases done in case-method schools like Harvard. Lots of data is provided in those cases, but not all is useful. Your job is to find the useful data and that means having a framework upfront.

16 Helmi 201218min

56: Richard Ivey Case Interview Advice

56: Richard Ivey Case Interview Advice

Richard Ivey in Southern Ontario is one of the 4 great case schools in the world - along with Harvard, IESE and Darden - and a school with which we have a deep affiliation given our client history. In recent years we have had much fewer clients, but we still retain a deep understanding of the program and receive many queries from Ivey candidates. This podcast details some of the common questions we receive from Ivey candidates in the hope it answers them all in one location. Much of the advice is counter-intuitive and we hope it helps with your own case interview preparation.

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