With the recent headlines regarding Tyco, Global Crossing, Qwest and Martha Stewart, business ethics and corporate governance have been thrust upon businesses forcing them to recognize and address the issue. Unfortunately, some organizations have reacted by charging their human resources function to quickly “pull together” a training program while requiring all hands to attend and signoff on an acknowledgement that they will act and perform their duties ethically.  In addition, companies have developed elaborate statements and policies regarding the organization’s commitment to behaving ethically which is then posted on walls and within waiting areas throughout the company.  The problem with this approach is that for ethics to work within any organization, it must start with the example that is set at the highest level within the organization.  The “do as I say, not as I do” mentality does not work with regard to corporate governance.  If the CEO is taking unnecessary risks with shareholder’s investments for personal gain, it is impossible to successfully mandate ethical compliance by others.