I personally enjoyed this one:
This is a positive sign to us, as it indicates that ethics is becoming a serious issue around the world, and foreign companies are more frequently developing best-in-class ethics and compliance programs than in prior years.
Should I understand from this sentence that companies around the world don't value ethics as much as those located in the US?
Naah, to use the translation trick you need a "longer snippet", let's try with the "full" quote:
http://www.winrumors...ical-companies/ORIGINAL:
We also had more foreign-based companies recognized than ever before. This is a positive sign to us, as it indicates that ethics is becoming a serious issue around the world, and foreign companies are more frequently developing best-in-class ethics and compliance programs than in prior years. So far we have received increasing numbers of WME nominations every year, and we hope to keep that trend for the 2012 World’s Most Ethical Companies recognition, too.
INTERMEDIATE TRANSLATION:
A number of new morons willng to sponsor us, one way or the other, came to us from abroad. This is good for us, as it indicates that our babbling about ethics can catch a few more people's attention even outside the US and that not only in the US gullible executives falling for this exist, and that we finally managed to convince quite a few more foreign companies to send money. The self-referencing model starts finally working and we get more WME nominations every year, and we hope that this bonanza will not end abruptly any soon.
LAYMAN'S TRANSLATION:
We made more money than last year, thank godness the new generation of foreign executives has finally become as gullible as our inland ones and we are confident to make even more money from them next year.
OT, but not much, they also made it to Reuters
:
http://www.reuters.c...114308920110315from which a couple more interesting data can be extracted, basically:
released its fifth annual ranking of the world's most ethical large companies
Ethisphere valued more than 3,000 companies with at least $50 million in annual revenue.
(as usual,
bolding is mine)
Let's see if we can find any
correlation with:
http://www.forbes.co...th/billionaireshttp://blogs.forbes....nside-the-list/Two differences strike at first sight:
- Although the criteria is MUCH more straightforward (the one valued as having the most money makes it ), an actual note on methodology is given (though a bit vaguely):
A note on methodology:
More than 50 reporters in 13 countries worked on compiling the list this year, valuing individuals’ public holdings, private companies, real estate, yachts, art and cash. Net worths were locked in using stock prices and exchange rates from Feb. 14.
- Forbes has a bit more experience on this:
This 25th year of tracking global wealth was one to remember.
You can say whatever you want about Forbes
, but they do know how to write:
http://www.forbes.co...ethisphere.htmlThe math is however a bit perplexing, unless I am mistaken I have counted in the drop-down box 55 countries.
More than 50 means 51.
1210/51=23.725
55/13=4.231
Let's say that on average each reporter traveled to 4 different countries and did a minimum of research on 24 people, let's say one a day + 1.5 days/travel or whatever, each reporter worked 24+4*1.5=a nice, round 30 days for this rating, or 51*30*8=12,240 hours were used to simply rate 1,210 people, or 10 hours/each.
On the other side we have:
"Ethisphere reviewed nominations from companies in
more than 100 countries"
"
Nearly 3,000 companies were nominated--or nominated themselves--to be considered this year."
The procedure is on one hand much simplified (a questionnaire
), but on the other fairly complex:
Ethisphere's proprietary rating system, which it calls the Ethics Quotient, is based on a series of multiple-choice questions in a survey that is designed to capture a company's performance in an objective and standardized way. The winnowing process includes reviewing codes of ethics and litigation and regulatory infraction histories; evaluating investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
"Based on the information in that survey, Ethisphere verifies responses before a final score is provided," says Alex Brigham, executive director of the Ethisphere Institute. "Some of the information is easily verified and publicly available, and other times we request that companies send us non-public information to validate responses. This could include training policies, whistle-blower programs, internal tone-from-the-top communications and so forth."
Once the pool is culled down to a few hundred, Ethisphere cross-checks it against governance lists from organizations including GovernanceMetricsInternational and FTSE for Good. Any company that has had significant legal trouble over the past five years is dropped. Companies that focus on alcohol, tobacco or firearms also get the boot.
More than 100 means 101.
Nearly 3,000 means 2,999.
a few hundred means 440.
110 in the list means 110.
2 hours/questionnaire for basic info.
1 hours/nomination for reviewing codes of ethics
1 hours/nomination for reviewing regulatory infraction histories
1 hours/nomination for evaluating investment in innovation and sustainable business practices
1 hours/nomination for looking at activities designed to improve corporate citizenship
2 hours/nomination to verify responses (easily verified and publicly available)
1 hour/nomination to verify responses (training policies, whistle-blower programs, internal tone-from-the-top communications and so forth)
0.1 hour/nomination to cull down to a few hundreds
9.1 hours * 2,999=27,290 hours
addditional time for translations and clarifications/whatever, 101 countries should mean something like 20 different languages at least, and I doubt that everything needed to verify is available in English, let's say 5%of the above: 0.05*27,290=1.364,50
We are now in the few hundreds range, i.e. 440 "elected"
1 hour/elected to cross-checks it against governance lists from organizations including GovernanceMetricsInternational and FTSE for Good
20 hours/elected to verify
significant legal trouble over the
past five years (4 hours/year, including judging the significance of the trouble)
0.5 hour/elected to verify focus on alcohol, tobacco or firearms
21.5 hour * 440 = 9,460 hours
Final reduction to 110 "Finalists" by applying "Ethics Quotient", do the sorting, proofread, and what not:
2 hours/finalist
2 hours * 110=220 hours
27,290+1.364,50+9,460+220=38,334.5
38,334.5/2,999=12,78 hours/application
or
38,334.5/110=348,49 hours/Finalist
In any case, assuming that the same 50 people (but this time not anymore "reporters" but basically "ethic experts", "legal experts", "accounting experts") worked on this project:
38,334.5/50=766,50 hours/expert or if you prefer 766,50/160=4.75 months/expert
Wonko