The Ethical Leader's Decision Tree

Company's can have decision trees for ethical conduct, ethical guidelines, ethical training, etc. but if the management is not ethical, no amount of training or trees will change the outcome. In the article "The Ethical Leader's Decision Tree" Constance E. Bagley presents the example of a company moving it's manufacturing facilities oversees because of the chance to operate in country with less stringent environmental laws. Certainly this will benefit the companies bottom line and be good for the stock holders, but what about the effect on the surrounding communities because of this move?
At a minimum, the company needs to consider what is legal and what is permitted by the company's own ethical guidelines. But, on some deeper level, doesn't the ethical framework in which the company operates come down to the moral conviction of it's leaders? If the leader's of this company choose to, they can almost certainly rationalize the morality of any decision that they make and find ways around the legalities and ethical guidelines that would apply to this situation. So, doesn't it really come down to some adherence to the "Golden Rule" by the leadership of the company? If the decision maker's simply ask themselves how they'd want to be treated if they or their families lived in the town in which the company was relocated, then all questions involving the legality and ethical guidelines would answer themselves. DB