We were delighted to bring our acclaimed Global Business Ethics Challenge to Barcelona this week. This formed part of Doing Good Doing Well 2015, IESE Business School’s MBA student-run conference on sustainable business.
The GBEC linked directly to the Doing Good Doing Well opening messages from Caixabank’s Angel Pes about company purpose and also to Dean Jordi Canals’ description of “management as a transformational force for good”.
Impact on Integrity is always keen to show how compliance and ethics improves business performance and this was again illustrated by the results of GBEC-Barcelona.
We had a highly competitive GBEC, with different teams ahead on their EVA (Economic Value Added) and E&C (Ethics & Compliance) indices at different stages of the game. The seven teams comprised in total 10 different nationalities. The full results table is available here: http://bit.ly/1M1dpyV.
Let Them Eat Cake, representing the USA and Taiwan, came out on top on the financial value creation, with both Olivia (Spanish-Dutch-German-French) andGreasy Palms (USA-Italy-Israel) giving them a close run for their money – and surpassing them for their ethics! All three teams were leading at different stages of the GBEC, but Let Them Eat Cake proved they made the best decisions for their bottom line at the end of Period 4.
Green Leaf (Germany-Portugal-Spain) may not have been the most profitable competitor in this market, but they lived up to their name and came out numero uno for their ethics and compliance, with a top score of 168.7. By way of comparison, the top E&C score in the recent GBEC-Madrid was 205, although this was accompanied by a much lower EVA.
Special mentions are due to two other teams: all Spanish, capital-efficientEquilibrium, who employed a mere L$ 11.6m and generated an impressive cumulated return on capital of 34.4%; and Italian-Chinese Greedy for Good, who returned a whacking 27.7% on investment – Arcadia group management is delighted as they all received record Christmas bonuses and they have offered plum jobs to all Greedy for Good team members when they return home.
We had some good diversity on the strategies and answers to the integrity dilemmas, with some memorable and innovative moral philosophy from the German member of team Green Leaf on the issue of the fraudulent finance director. We saw some highly “action oriented” teams, others content to gather info and improve decisions but relatively few willing to opt to “do nothing” in response to the dilemmas faced.
Finally, it’s worth noting that ALL teams succeeded both in creating financial value (which is not always the case!) and in increasing their ethics and compliance index (in this case in a range of 127 to 168).
Congratulations to all teams and thank you for another successful Global Business Ethics Challenge!