Julio M. Herrera Velutini serves as the chairman of an international bank based in Puerto Rico. In his executive capacity, Julio Herrera Velutini implements the principles of social responsibility and ethics to grow the bank.

Ethics plays a vital role in a company’s success, and it all starts with the company’s management. Managers who act and make decisions from an ethical standpoint are able to relate better with each other, coordinate leadership roles seamlessly, and develop stronger management bonds.

Employees follow managerial footsteps. Therefore, when managers act ethically, employees will be inspired to do the same; they will respect each other and make decisions that put the entire company first. These build overall employee morale and increase productivity. Thus, a work culture that demands high ethical standards is more likely to result in better staff performance. Additionally, the positive environment will attract talented individuals to the company.

Beyond management and staff, ethics also inspires other persons to want to associate with the company. These include customers and investors. A company that has a solid ethical reputation is more likely to have loyal customers to do business with and willing investors to finance its operations.