Ethical Behavior
Ethical behavior involves choosing actions that are “right,” “proper,” and “just.” Our behavior can be right or wrong; it can be proper or improper; and the decisions we make can be just or unjust. Though people often differ in their views of the meaning of the ethical terms cited, a common principle seems to underlie all ethical systems. This principle is expressed by the belief that each member of a group bears some responsibility for the well-being of other members. Willingness to sacrifice one’s self-interest for the well-being of the group is the heart of ethical action This notion of sacrificing one’s self-interest for the well-being of others produces some core values—values that describe what is meant by right and wrong in more concrete terms. James W. Brackner, writing for the “Ethics Column” in Management Accounting, made the following observation:
For moral or ethical education to have meaning, there must be agreement on the values that are considered “right.” Ten of these values are identified and described by Michael Josephson in “Teaching Ethical Decision Making and Principled Reasoning.” The study of history, philosophy, and religion reveals a strong consensus as to certain universal and timeless values essential to the ethical life. These ten core values yield a series of principles that delineate right and wrong in general terms. Therefore, they provide a guide to behavior.
The ten core values referred to in the quotation follow:
1. Honesty
2. Integrity
3. Promise keeping
4. Fidelity
5. Fairness
6. Caring for others
7. Respect for others
8. Responsible citizenship
9. Pursuit of excellence
10. Accountability
Although it may seem contradictory, sacrificing one’s self-interest for the collective good may not only be right and bring a sense of individual worth but may also be good business sense. Companies with a strong code of ethics can create strong customer and employee loyalty. While liars and cheats may win on occasion, their victories are often short term. Companies in business for the long term find that it pays to treat all of their clients honestly and loyally