I do agree that trust and ethical standards are essential aspects that business leaders in the U.S. must uphold. It the responsibility of the corporate leaders to ensure that they lead their respective companies into ensuring that they adhere to the regulatory frameworks that have been set to regulate that particular industry. Organizations do have the responsibility to come with the ethical standards that the management and the employees must uphold in their efforts to reduce misappropriation of resources and win back the public trust that has been waning.
It is an unethical practice for companies to release any financial information that is not only false but also misleading to the general public. In the event such an act happens, the implication is that the public may commit their investments to such companies based on the available information and end up losing their resources (Ncube & Wasburn, 2006). In the wake of such occurrences, the Sarbanes-Oxley Act of 2002 was introduced to ensure that the management verifies the accuracy of financial information and reports before releasing them to the public.
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I concur that in order for companies to win the public trust, then there ought to be leaders who have the integrity that is required to manage resources of the company that they are under their care. However, this has not always been the case. Many leaders of organizations have seen financial misappropriations occur under their watch, putting such organizations on the brink of collapsing. The reason why these cases continue being reported might be because there are no adequate punitive measures that have been put in place. In order to protect the public interest and ensure that public resource is protected, corporate leaders need to be taught more on the importance of observing ethical standards (Ncube & Wasburn, 2006). Companies have to set ethical standards that ought to be observed by every employee in the organization and ensure that they uphold the same for the benefit of the organization and the general public.
Reference
Ncube, L. B., & Wasburn, M. H. (2006). Strategic collaboration for ethical leadership: A mentoring framework for business and organizational decision making. Journal of Leadership & Organizational Studies , 13 (1), 77-92. https://doi.org/10.1177/10717919070130011001
