executive development program · 2019-11-13 · credibility & ethics john c. maxwell’s...
TRANSCRIPT
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Executive Development Program
Credibility & Ethics in Competitive Banking Environments!
Instructor: Joe Zavaglia, M.Ed.Zavaglia Consulting, LLC.
Welcome to Credibility & Ethics
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Welcome to Credibility & Ethics
• Our goals are to:
• 1) Enhance our understanding of the four ethical dilemma paradigms and apply them to our experiences
• 2) Develop our understanding of the three principles for resolving ethical dilemmas and how we apply them in our business environment
• 3) Understand the ethical dilemmas created by “Competition” versus “co-opetition” using discussion and debate around interactive exercises, and shared real-world experiences
• 4) Learn about your important role as an ethical role model and ethics coach in your bank
• 5) Practicing the Nine Checkpoints for Ethical- Decisions2
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• If someone working for you made a very costly mistake and you realized that your instructions could have been clearer, would you be more likely to describe the incident to your superior in a way that protected your subordinate or yourself? What if one of you would be fired?
• What would you do?• *The Book of Questions: Business, Politics, and Ethics, by Gregory Stock, Ph.D.
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John C. Maxwell’s Observation*
1. I am always ethical2. I am mostly ethical3. I am somewhat ethical4. I am seldom ethical5. I am never ethical
*“Ethics 101, What Every Leader Needs to Know” by John C. Maxwell
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Good People Make Tough Choices…
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Good People Make Tough Choices…
….and sometimes they make bad ones!
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• Leadership
• Involves actions focused on how to get people to wantto perform through their own initiative.
• Credibility
• Visionary
• Empowerment
• Encouragement
• Trustworthiness9
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Credibility!
What are your values?
•Who is the role model? 10
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Business Ethics?
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• Business Ethics comprises the set of principles and standards that govern our actions and decisions as they pertain to what is right and wrong within the context of business practice.
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• Three Approaches to Business Ethics*
Immorality
• The deliberate violation of laws, moral standards, and ethical principle where the motive is greed.
Amorality
• Passive indifference towards laws, moral standards, and ethical principles where the motive is profit.
Morality
• The motive is earning a profit with legal and ethical boundaries
• *”Effective Small Business Management, An Entrepreneurial Approach”, by Scarborough, Wilson, & Zimmerer 13
Credibility & Ethics
Why Managers Embrace Morality in Business
You prevent damage to the bank’s reputation which can also damage profits.
Banks with good reputations attract quality employees.
Makes it easier for employees to manage the complexities and potential conflicts with stakeholders because they know where they stand.
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Four Dilemma Paradigms*Truth versus loyalty• Honesty & integrity versus commitment &
responsibility
Justice versus mercy• Even handed application of law versus compassion
Short-term versus long-term• Immediate needs versus future goals or prospects
Individual versus community• Self versus others…small group versus the larger group• *“Good People Make Tough Choices” by Rushworth M. Kidder
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Three Principles for Resolving Dilemmas*
Ends-based Thinking• Utilitarianism-the best choice is the one that provides the
greatest good for the most people.
Rules-based Thinking• Categorical Imperative-the best choice utilizes the principle
that you expect everyone to follow.
Care-based Thinking• Golden Rule- do to others what you would like them to do to
you.
• *“Good People Make Tough Choices” by Rushworth M. Kidder 16
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• Kidder’s Nine Checkpoints for Ethical Decision-Making*
Recognize that there is a moral issue.
Determine the actor.
Gather the relevant facts.
Test for right-versus-wrong issues.
Test for right-versus-right paradigm.
Apply the resolution principles.
Investigate the “trilemma” options.
Make the decision.
Revisit and reflect on the decision.
• *“Good People Make Tough Choices” by Rushworth M. Kidder
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•Take Ten!
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•Cascade Survivor!!
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•What happened in your group?
•What Seven Adjectives best describe the dynamics of your group?
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Teams and Ethics*
Competition
Cooperation
Competition versus Cooperation
Role of Trust
Collaboration
Co-opetition• *”What Would You Do? A Game of Ethical and Moral Dilemma”, by Lorraine L. Ukens
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•Let’s Do Lunch!
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•Stakeholder
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• Stakeholder*:
• stake·hold·er [stáyk holdər]
• (plural stake·hold·ers) noun
• 1. somebody or something with direct interest: a person or group with a direct interest, involvement, or investment in something.*
• *Microsoft® Encarta® 2007. © 1993-2006 Microsoft Corporation.
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• Internal Stakeholders
Employee
Management
Investors
Board of Directors 25
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• External Stakeholders
Customers
Suppliers
Special Interest Groups
Government
Creditors
General Public26
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• If your business were going bankrupt and most of the company’s debts would never be paid, would you use the company’s few remaining resources to reimburse customers for unfilled orders, to pay employees their back wages, or to pay suppliers for goods they had given you on credit? Assume you can do only one.
• What would you do?
• *The Book of Questions: Business, Politics, and Ethics, by Gregory Stock, Ph.D.
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Employer Rights*
Conflict of InterestGifts and EntertainmentTrade SecretsEmployee Productivity MonitoringDownsizingHonesty in CommunicationAgent’s Duties* “Business Ethics”, Third Edition, by Milton Snoeyenbos, Robert Almeder, and James Humber
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Employee Rights*
HiringDiversity and DiscriminationSexual HarassmentDischargePrivacyWorker SafetyWhistle blowing
• * “Business Ethics”, Third Edition, by Milton Snoeyenbos, Robert Almeder, and James Humber
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•Take Ten!
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Stressors that Challenge Ethical Cultures
Unethical employees
Lack of accountability
Ethical Blind spots
Competition Stress
Opportunity Stress 31
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Setting an Ethical Culture
Role model the expectation
Establish clear tolerance levels for ethical violations
Execute continual training and education programs
Recognize ethical behavior when it occurs
Be an ethics coach 32
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Setting an Ethical Culture
Establish checks and balances
Establish open-door ethics coaching policy
Establish ethical partnerships
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Three Additional Approaches Used to Resolve Ethical Dilemmas
The Television or Newspaper Test
The Family Test
The Professional Ethics Panel Test
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• Thank you!!
• Have a good evening!!
•Joe ! 35