Rarely is there the individual who does not encounter an ethical or moral dilemma at some point in his or her business life. A very positive affirmation that your ethics program is a success is when there is an embedded culture where people will make the right choices, even when those choices are difficult, inconvenient, or adverse to the short-term interests of the individual or company.
Teaching individuals how to apply ethics when it comes to moral controversies must become a key focus of leaders in the new paradigm (p. 7). “Applied ethics focuses on norms and guidelines of professional practice, methodologies for promoting ethical decision-making, various codes of conducts and how these function to promote discussion, informal decisions, and resolve practical ethical problems (p. 7). This focus must become a new major responsibility of every manager and leader within the new organization.
New managers and leaders must focus time and energy not only on making the organization profitable, but they must learn to help individuals in the organization recognize situations which may cause ethical dilemmas and ways in which to apply ethical behavior in a way that satisfies all stakeholders.
A destructive result with negative consequence to other or organizations can be brought about through negative and unethical core values in operational policy. Such focus will have beneficial effects on all stakeholders and a long term benefit to the bottom line by improving stakeholder relations and avoiding costly lapses in ethical behaviors which are damaging to the organization and its stakeholders.
The insurance company makes profits by investing the money of the insured in other financial ventures. While this is an astonishing and sad commentary on the ethics and morals of the management of these companies, I find something else even more disgusting. Companies that act ethically impart a sense of trust and responsibility in both local and national communities; this type of trust can often promote strong business alliances.