Without Reason, Culture Fails

Without Reason, Culture Fails

Recent lapses of standards and values have resulted in regulatory inquiries, enforcement actions, financial penalties, resignations and reputation blows for some of the world’s largest financial institutions. And while the financial services industry should take no comfort from this, it is by no means the only industry that has failed to live up to the expectations of its constituents. To be fair, the current headlines are just the most recent examples of corporate breakdowns, as we are reminded by this statement from the introduction to a special report in the June 2002 issue of FORTUNE, aptly titled, “Crisis of Confidence.”
 

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