VOL. 110 | NO. 30 | Tuesday, February 13, 1996
Memphis-based Guardsmark Inc. is one of five companies named to receive an American Business Ethics Awards given by the American Society of Chartered Life Underwriters and Chartered Financial Consultants.
The awards are given to businesses that exemplify a strong commitment to ethical business practices and are presented in three categories: public, private and small company.
The public company recipients are Starbucks Coffee Co., based in Seattle, and Lancaster Laboratories, which offers chemical and biological analytical and research services in Lancaster, Pa. Private company recipients are Richs Product Corp., a family-owned frozen food company in Buffalo, N.Y. and Guardsmark. The 1996 small company recipient is Clark Construction Co., a family-owned construction firm in Lansing, Mich.
The ABEA recipients were selected by a panel of ethics experts drawn from business, academia and consulting. Companies nominated for the award were evaluated by a set of criteria that examined formal corporate ethics programs, senior management commitment to business ethics and response to crises or challenges.
"Ethical business practices are not a cost of doing business but an investment in successful business relationships," said Curtis B. Ford, president of the society. "The ABEA recipients are successful companies that demonstrate the art of doing good business."
Previous recipients include Texas Instruments, Merck & Co., Levi-Strauss, H.B. Fuller Co., Ukrops SuperMarkets and Hannah Anderson.
Founded in 1928, the society has 36,000 members who provide personal, family and business financial services.