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Ethical culture 'vital' to success.

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Global businesses "must adapt to a world of fragmented and shifting I ethical contexts" and have "no alternative" but to create an ethical business culture, according to Dick Olver, chairman of BAE Systems.

Speaking about the decade-long culture change he has embedded at the defence giant, Olver told delegates at a recent CIMA/Tomorrow's Company event that it is also essential that businesses obtain buy-in from the top if a culture change is to be successful.

"To sustain its licence to operate across different markets, a global company must adapt to a world of fragmented and shifting ethical contexts, while fulfilling its underlying responsibilities wherever it operates. In my view, the only way to achieve this is through shared values that are applied consistently worldwide, and which are continually reinforced and improved over time," he said.

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"All of this boils down to two things. First, an ethical business culture is vital--there is...

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