Leading with integrity: ethics does not equal compliance

This is the most important programme in the world because the regulator says so.

It’s a regular ritual in any large corporation: reviewing the proposed change portfolio for the coming year. The list of proposals is always longer than the company can afford, and, even if it could afford to do everything, there are only so many things it can do. Naturally, everyone proposing a change programme tries to make it sound as if it is more vital than all of the others: it is the one thing that will cut costs, boost revenue or protect the organisation from existential threats.

In regulated industries, such as finance, utilities and healthcare, one of the strongest justifications offered is compliance. The idea is that, if the change is required by law or regulation, the company is obliged to do it: there is no choice.