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Ensuring Business Ethics

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ENSURING BUSINESS ETHICS
The business world is changing. The increased awareness about long-term benefits of adopting a framework, based on ethical values, has forced business leaders to measure their decisions and actions against an ethical yardstick before taking them. This, combined with increased stress on values and principles, has made it more important for people like you and me to ensure that we make ethical decisions when faced with ethical dilemmas.
Having knowledge of ethics is a pre-requisite for understanding ethical dilemmas. I make sure that I understand my company’s code of ethics and emphasis given by the company on ethical values. For this, I make it a point to sift through the document every three months.
Ethical dilemma is a situation in which a person has to choose between two alternatives based on different values held dear by that person. There are different approaches to deal with ethical dilemmas: “Utilitarian”, “Deontological” and “Virtue ethics”. I value morals and principles more than consequences and thus, I adopt a deontological approach to ensure that I engage in ethical decision-making. However, having said that, I also take a holistic perspective to understand the effect of my decision on all the people involved.
Deontologists always place values before consequences even if they are good. My life has been governed by values such as accountability, honesty, respect, and trust. Naturally, I consider these values more than others when faced with ethical decisions. Understanding that a particular situation classifies as an ethical conundrum and demands “ethical introspection”, plays an important role in making ethically correct decisions. For me, keywords which raise red flags and sound warning siren have been ones that involve ethical language such as
“justice” and “fairness”. Once I am sure that the situation…...

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