How to Make Ethical Business Decisions

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In Brief...

Making ethical business decisions is an effective way to build the kind of reputation that will encourage loyal customers. Consider the following list when making business decisions.

Instructions

  1. Develop a Code of Ethics. This Code will provide employees with a barometer to use when making decisions. Whenever making a decision, review the alternatives and compare them to the Code of Ethics to determine their compatibility with the Code.
  2. Ask how the decision will affect all stakeholders. Decisions are often made to address a small segment of the business; however, many other stakeholders could be affected, so be sure to look at the big picture.
  3. Explore industry standards and regulations. Industry standards and regulations are an excellent place to start the decision making process. When making decisions, plan to not only meet the standards, but to exceed them.
  4. Don’t work in a vacuum. Getting other opinions will help provide a fresh perspective on the decision. Get advice from knowledgeable resources both before and after implementing decisions.
  5. Take the time to review past decisions. If mistakes were made, learn from them, do what is necessary to make amends, and move forward with new knowledge.

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Author: Janie Sullivan

Janie Sullivan, MBA, MAEd, has been teaching adult learners for over 20 years. She has taught online over 15 years, specializing in writing, communications, and small business applications. Janie directs the Center for Writing Excellence where she offers writing, editing, and formatting services for writers. She has been published in several newspapers and magazines as well as multiple online sites. She teaches communication, business strategy, leadership, and management courses. Janie has published a book "Develop and Deliver an Online Class." This is the third book she has written about writing and teaching online. She also has published a novel and an anthology of short stories.

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