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entering a new market, or leaving a market, or discontinuing a product line. So assume that the company has an important strategic decision to make – e.g. The process itself is an important reflection of a desire to bring ethics to the table for everyone to discuss. But certain important and novel decisions should be subjected to a discussion and dialogue among interested parties. I am not suggesting that every business decision requires a pow-wow and meeting among managers. If regularly practiced, a company and its managers can apply this discipline in making important decisions based on ethical principles. The dialogue is important to conduct and evaluate. This approach can be applied in a variety of contexts and can be modified as appropriate to fit a company’s profile.Įthical business decisions often require a careful discussion among interested parties. To ensure adequate examination of ethical issues, there are a number of basic questions that can be examined. Nor can ethical business decision-making be boiled down to just “doing the right thing.” There is more to it than that.Īpplying ethics in the business context requires an awareness or sensitivity to ethical issues that may arise and a method to resolve relevant issues as part of an overall decision. Of course, it occurs in many other contexts. It is an approach to identifying and resolving issues in the business context.
ETHICAL DECISIONS PROFESSIONAL
Believe it or not, to bring ethics into the equation you do not need to be a philosopher, historian, or professional ethicist.Įthical decision-making is a discipline. An effective ethics and compliance program, by definition, translates into ethical business decisions.