Leadership on Point

Ethics and the Business Decision-Making of Today’s Leaders

December 6, 2011 Dr. Johnny Magwood - Guest Author

Ethics in Business Decision Making

The people who work in both large and small corporations are typically a reflection of society. Workers and leaders that enter the workforce bring with them personal, family, and community ethics and values.  From an ethical perspective, there are two elements worth considering: ethical approach and ethical referent.  Ethical approaches include principles, rationale, and standards that individuals portray when facing an ethical decision.  Within the decision-making process, people include their egos, a sense of benevolence, and a principled philosophy.  Ethical referents are the building blocks of an individual’s ethical concerns, or the stage of scrutiny supporting a person’s ethical decision-making.  Unfortunately, many business decisions are made with irrational foundations.  Good ethical decisions are not always beneficial to an individual or profitable for a firm, however, good ethical decision-making is good for society and is a requirement for good leadership.

(more…)

Read More +