Re-established in 1991, Slovenia is emerging from the remnants of socialism and is working to re-create its business landscape. Lisa Stewart, director of the University of Virginia Darden School of Business Institute for Business in Society (IBiS), shared recommendations and leading concepts for building an ethical business culture during her talk "Cultivating Ethical Leadership" at the Future Ethical Efficiency Leadership conference held in Slovenia on 12 June 2013.
As part of the former socialist Yugoslavia, Slovenia gained its independence and a system of capitalism, and joined the euro zone in 2007. The mixture of old and new styles of business and government created unique challenges for Slovenian leaders. This conference presented ideas on creating a transparent and ethical path forward.
IBiS strives to provide a new generation of leaders with the skills needed to guide organizations through volatile social environments. Business ethics are crucial to newly formed countries, thus Slovenia sought IBiS as a natural partner.
To move toward greater openness and ethical dealings, Stewart recommended building trust, establishing mutually shared goals and implementing safeguards to create a balance in power.
"For example, if an NGO and a corporation are working together toward a common goal, there should be a balance in power," said Stewart. "No one group should hold greater sway over the other."
The human resources consultancy firm Taktika Plus invited Stewart to speak at Slovenia's ethical leadership conference. Taktika Plus leads in the transformation of Slovenian businesses by introducing ethics and stakeholder theory into their corporate landscape.
The group plans to continue working with the University of Virginia Darden School of Business in the future to gain more knowledge and understanding of the actions needed to thrive in a free market.
In addition to delivering the address, Stewart participated in a panel discussion with U.S. Ambassador to Slovenia Joseph A. Mussomeli and CEO of Microsoft Slovenia Biljana Weber. Conference participants included more than 250 CEO and senior level executives from Slovenia. Stewart also delivered a workshop to the leaders of Si.mobil, one of the country's top mobile phone companies.
"This is the first time that business leaders in Slovenia have embarked upon a deep examination of ethics in business practice and how to transform thinking and transparency from within," Stewart added. "It was really nice for Darden to be a part of their efforts and to potentially be part of shaping their future business ethics goals."
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About the Darden School of Business
The University of Virginia Darden School of Business is one of the world's leading business schools, offering MBA, Ph.D. and Executive Education programs. The unique Darden experience combines the case study method, top-ranked faculty whose research advances global managerial practice and business education, and a tight-knit learning environment to develop responsible and complete leaders who are ready to make an impact.
About the Darden Institute for Business in Society (IBiS)
The Darden Institute for Business in Society (IBiS) aims to be a leading global catalyst and convener of thought, information and action at the interface of business and society, and to promote the development of leaders to positively impact society through their roles in business.
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