A good name is rather to be chosen than great riches, and loving favour rather than silver and gold.
Here are 10 of some of the most significant scandals in the business world in the 2010’s:
- BP Deep Water Horizon (Environment)
- Foxconn Suicides (Lives Lost)
- Libor Scandal (Global Financial Impact)
- FIFA Corruption (Sports)
- Volkswagon Emissions Scandal (Auto/Environment)
- College Admissions Scandal (Education)
- Theranos (Healthcare)
- Wells Fargo Account Fraud (Banking)
- Equifax Data Breach (Credit/Personally Identifiable Information or PII)
- Boeing 737 Max Crashes (Transportation)
Notice all the industries touched.
Is it increasingly harder to find businesses with a good name and reputation? Also, consider the increased audits, investigations, and oversight. This outcry is seeking to prevent these scandals through justice, accountability, honesty and transparency. That should sound the alarm! People are tired of the deceit, thievery, and invasion of privacy.
Who then do people trust? Who or what do people turn to? Themselves? Their wealth? Their Empires? The judicial system?
That’s where you step in, Kingdom Man! This is where, “do ALL to the Glory of God”, is extremely relevant and necessary. Outside of family, it is through our vocation(s) where we have the most influence and make the biggest impact. Here are some questions you should ask yourself while looking at yourself in the mirror:
Are you lawful in your work?
Are you ethical in all you do?
Are you honest and trustworthy?
Are you dependable?
Are you accountable?
Are you constant and consistent?
Are you just?
Are you fair?….
The 10 most common unethical business practices are:
- False product claims
- Hidden terms in user agreements
- Unethical accounting
- Poor working conditions
- Sexual harassment
- Trade secret misappropriation
- Selling customer data
- Complex securities
- Around 2 million reports of fraud from U.S. consumers in 2020.
- U.S. consumer losses rested somewhere around $3.3B as compared to $1.8B in 2019.
- Global fraud losses settled somewhere between $50B and $60B
- The largest whistleblower award of all time at $114M was issued in 2020.
- Median loss of fraud victims by age:
- $448 for people in 20s
- $379 for people in 30s
- $410 for people in 40s
- $500 for people in 50s
- $600 for people in 60s
- $800 for people in 70s
- $1,600 for people in 80s and older
The enemy has targeted the elderly in recent decades and it has become even easier for scammers with advances in technology. They will use the technology coupled with direct and false threats of law enforcement action. They will use alternative methods of payment in order to go undetected by law enforcement and regulators. The enemy has no limit when they want what is someone else’s.
The flipside is this: Many businesses are being run by persons with their eyes set on Jesus; and THESE ARE THE MINORITY. One of the best examples of a company like this is Ozinga. Look them up and listen to their CEO, Marty Ozinga and his model for conducting business.
Daily Battle Order:
Kingdom men, ARE YOU REPRESENTING JESUS CHRIST? The way to victory and to abstain from corruption is to conduct your business according to God’s laws and set the example. Do not worry about fighting the corruption taking place around you. You are of more value on the side of setting an example. Christ is in control. “And he is the head of the body, the church: who is the beginning, the firstborn from the dead; that in all things he might have the preeminence.” – Col 1:18. Do you believe God is in control of you and everything around you? It has to be believed! And as a believer, you have an obligation to represent Jesus Christ in ALL you do and to believe He is in control.