Ethical Decision Making

Ethics are defined in the dictionary as  ‘The moral principles by which a person is guided.’ In business, ethics is about the decisions we make. To be ethical is to:

MAKE THE RIGHT DECISION

What are some of the questions that we can ask ourselves to help determine the right decision, in any situation?  

• What is my motive? 
• Who benefits or is harmed by this decision?
• What are the guiding principles here-Is it honest, fair, caring, responsible?
• Is it compliant with the relevant laws?

Another one you might add is:

• Would I be embarrassed if my decision were to be in the press or known by my family & friends?

When one seriously considers these various elements it more likely that a better appreciation of the options will be achieved, which opens the way for a more creative and appropriate decision to arise.

What is the nature and qualities of an ethical decision?

Ethical decisions are:

• Balanced
• Considered
• Unbiased
• Based on principle
• Made in the present moment.

There is great power in the present moment.  This is a state of simply being, being in the present, the here and now, without reference to matters past stored in memory or imaginings about what may happen in the future. Examples of the power of the present moment can be seen in the:

• The concentration of professional tennis player hitting a ball
• The fine attention required by an artist
• The loving care that a mother gives her child.

The Ethical Entrepreneur introduces an Ethical Decision Making process and offers several drama based videos highlighting common business situations where you need to make decision. It also presents some of the practical issues which must be considered due to the existence of the UK Bribery Act, the most stringent law covering this subject of any country in the world.