Hi! Managers: Ethics: A precious possession

I cannot believe the executives of this particular company - who are supposedly crucial to its operations - could be so selfish and stupid. Instead of gaining public support for their company as an entity worth saving, AIG has now become a company the public no longer wants to have around.

The executives of AIG would have been much smarter to forgo their bonuses, even though they were due by contractual obligation. Had the bonuses been forgone in the first place, the public would have applauded the gesture. Instead, the executives are now without their bonuses (they have been taxed away) and have lost reputation and trust. I am not sure whether these people will even retain their jobs.

It is a good example of how selfish behaviour does not pay off.

Company leaders must take responsibility for their actions. They must set a good example, and just because they are on top does not mean they will not be judged by others.

Looking at many giant US companies now, we are seeing a change: the general public, which was once unaware of information held confidential by giant corporations, is now beginning to see the inner detail, because it is being exposed by the worsening economy. This should be a good lesson for other organisations around the world. When the good times roll, numbers can be hidden, benefits are overlooked, and everyone is happy to just "let things go". However, when the economy takes a nosedive, the inner details are slowly exposed, and in the end, every crucial facet spills out.

As a manager, my recommendation is my fellow managers should be much more open and think twice before making decisions that benefit themselves. They should learn to be smart in all their actions and most of all stay clean and unselfish, because there are no secrets in this world.

In the final chapter of a business leader's career, when trust and admiration are precious possessions, the worst possible thing is to be revealed as a leader without ethics written clearly into his personal history.

Patee Sarasin is chief executive of Nok Air. Follow his articles on the first Friday of every month.