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Home » Resources » Articles And Reports » “Business Ethics—Who needs them?” – David LeGrand

“Business Ethics—Who needs them?” – David LeGrand

Studies show that organizations that promote high ethical standards among their work force enjoy increased productivity and loyalty from both employees and customers. But unfortunately high ethical standards are almost a thing of the past. Most colleges and universities do not even include ethics classes in their curriculum any more.

Approaches to Business Ethics

            To avoid costly litigation and protect their image, most companies at least make some attempt to follow these approaches:

1. Avoid breaking the criminal law in one’s work-related activity.

2. Avoid action that may result in civil law suits against the company.

3. Avoid actions that are bad for the company image.

Seven Business Principles

1. Harm Principle—Avoid causing unwarranted harm.

2. The 2nd Mile Principle—Make things better – enrich others

3. Fairness principle— Be fair in all practices                                                                                                     Be compassionate – loving and kind

4. Human rights principle

             Respect others

                        – keep confidences

                        – tell the truth

                        – stay loyal

                        – keep promises

5. Autonomy principle—

            Do not infringe on the rationally reflective choices of people.

6. Veracity principle—Not be deceptive in business practices

7. Stakeholder principle

             Should consider all stakeholders’ interests that are affected by a business            practice.

Safety First?

When confronted with a challenging safety decision on the job ask yourself:

1. Severity of the harm
            How serious is the damage or danger?                                                         Is the harm to persons or property?                                                                                       Is a human life threatened?

2. Certainty of the harm
            Is the harm certain or just possible?                                                              How large is the risk of harm?

3. Degree of my personal involvement
            Have I caused it?

            Am I part of the immediate situation?

            Am I the only one who can act?

4. Cost of acting
            What will it cost me to take responsibility?

            What risk will I run to address the problem?

5. Certainty of it’s solution
            How certain am I that my action will solve the problem?

Develop Your People Skills

  Zig says “Your people skills are more important than other skills.                                   They are 85% of the reason you get a job and keep a job.”

A Good Model

Johnson and Johnson’s Credo

   We are responsible to our employees, the men and women who work with us throughout the world. Everyone must be considered as an individual. We must respect their dignity and recognize their merit. They must have a sense of security in their jobs. Compensation must be fair and adequate, and working conditions clean, orderly and safe. We must be mindful of ways to help our employees fulfill their family responsibilities.

THE BIBLE SAYS

“Be not weary in well doing, for in due season you will reap if you faint not.”

This entry was posted in Articles And Reports, Resources, The Gold Club Weekly Report. Bookmark the permalink.

One Response to “Business Ethics—Who needs them?” – David LeGrand

  1. Jeff Clayton says:

    Well said Mr. David LeGrand. It take that verse to mean we should strive to always be honest, and do good work that serves others and good things will come back to us if we are patient.

    Zig Ziglar also famously said: “you can have everything in life that you want if you just help enough other people get what they want”.

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