Don’t make business ethics merely a matter of a checklist
While business ethics is getting much more attention in the press, in the boardroom and in the classroom, I am concerned that our definition of business ethics is sliding into a legalistic world of rules compliance.
Whether it’s in everyday life or in the business world, we have to be careful not to boil morality down to a simple list of don’ts that serves as a checklist of how to be ethical.
Business ethics should so much more than a list of rules to follow. It should be a much broader set of standards of how we treat one another.
It is the pursuit of being good in how we treat our employees, our customers, our investors, our families, our suppliers and so forth. That cannot be boiled down to a checklist. Being ethical, being good, is having integrity in all that we do. It requires courage to do what is right, no matter how hard it might be at certain times in our lives.
It is built off these principles and values that the entrepreneur brings to the business.
Put values into action
A clear and compelling vision of a business not only should include what products we sell and markets we serve, but also should spell out how your values and principles will guide your business and define its culture. However, too often we see entrepreneurs who are long on rhetoric about their values, but fall short when it comes to putting those values into action on a daily basis when running their businesses.
Our values should drive our specific actions toward each of these stakeholders: partners, investors, family members, providers of debt financing, employees, customers, vendors, competitors and industry peers. It applies even more broadly to the community and society as a whole.
A business owner needs to commit to specific actions and policies for each stakeholder based on sound principles and values.
For example, saying you value your employees and want to create a family atmosphere in your business is a lofty principle. How you bring this to life in your business each and every day is the challenge.
You need to commit to specific actions and policies or the odds are this principle
will remain no more than words on paper.
A family atmosphere may include policies on time off, emergency assistance programs for family crises, expectations about overtime or working on projects during “off hours,” and so forth.
People recognize us not by our words, but by our actions.
Part of business planning should include a careful reflection of how we will bring to life our values and principles though strategies and policies that define how we intend to treat all of our stakeholders as a business venture grows.
[Source: Jeff Cornwall - tennessean.com - Sept 2007]
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