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Kathryn Riley MD, Durance Ltd

Ethics and Values – Responsible leadership and the importance of Women on Boards WIBF – Women on Boards Forum 20 April 2011. Professor Roger Steare Corporate Philosopher, Cass Business School. Kathryn Riley MD, Durance Ltd. Flow of the Evening.

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Kathryn Riley MD, Durance Ltd

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  1. Ethics and Values – Responsible leadership and the importance of Women on BoardsWIBF – Women on Boards Forum20 April 2011 Professor Roger Steare Corporate Philosopher, Cass Business School Kathryn Riley MD, Durance Ltd

  2. Flow of the Evening • Doing the women’s thing – context for an ethical dilemma • Sharing my experience • Budge Over – business case for women • What's the business case for ethics? • Moral DNA profile • Responsible leadership and building a culture of integrity • Q and A’s

  3. “Deeds Not Words”

  4. What has happened to HOPE? • 1908 – WSPU • 1970’s – EPOC • 2007, “Mind the Gap”, London pay gender gap = 23%, top 10% of earners =23% • Equal Pay not likely to be achieved until 2067! • 1980 – founding of WIB • 1991 – Opportunity 2000 • Recent…..Tyson and Higgs Review 2003, FTSE Cross Mentoring Programme, 2003 - 30% Chairmen's Club, Lord Davies Report recommendation on targets for Women on Boards…….. HOPE is somewhat sceptical

  5. Budge Over • Talent Sustainability • 3 women on the Board boosts performance by more than 40% • Best ideas come from work teams that mix men and women • Equal gender split – more likely to experiment, share knowledge and fulfil tasks • Even mix – psychologically safe communications climate and self-confidence among members – leads to fertile ground for innovation

  6. You go to an ATM and it gives you £200 instead of the £100 you keyed in. What do most people do in this situation? • If this is an integrity test which answer(s) are preferred by men and which by women? • a. Keep the money because it’s the bank’s fault • b. Return the money because it’s theft if I keep it • c. Return the money because it belongs to other people • d. Return the money because I believe in honesty 6

  7. Ethic of Ego- what’s right is what’s best for me, me, me...- internal driver of behaviour 7

  8. Ethic of Obedience- what’s right is following orders- consequences are reward or punishment- external driver of behaviour 8

  9. Ethic of Care • what’s right is what’s best for all of us • moral values of humility, love and fairness • interactivedriver of behaviour (relationships) • builds community integrity 9

  10. d. Ethic of Reason-what’s right is what I/we judge is right- moral values of wisdom, self-discipline- character and judgement- personal integrity- internal driver of behaviour 10

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  14. HSBC Case Study 14

  15. The DNA of Morality • Humanity is an empathic, social species • We are born, survive and achieve well being through love, fairness and wisdom • Functional human communities must first be based on an ethic of care, like family and friendship. • Women carry the DNA and neurology for greater empathy (oxytocin, vasopressin, more receptors) 15

  16. The DNA of Sustainable Business • A sustainable economic purpose AND a human community of belonging (PWC - Trust the behavioural challenge) • Most businesses are small family businesses and endure for generations (92% in the EU) • The modern corporation is a dysfunctional and failing economic construct based on a series of ideological beliefs rather than objective scientific evidence (dot-com bubble, banking crisis, big oil) • Time for a Spring Uprising? 16

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  18. Questions?kathryn.riley@durance.co.ukwww.durance.co.ukroger.steare@ethicability.orgwww.ethicability.orgQuestions?kathryn.riley@durance.co.ukwww.durance.co.ukroger.steare@ethicability.orgwww.ethicability.org 18

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