Ethical Business Decision Making
by Alison Neumann

Ethical Business Decision Making


Business professionals commonly encounter situations where they must evaluate and make ethical decisions. Sometimes the decision is easy. If the problem they face is illegal or violates the company’s policies or values, they may be able to quickly decide.  However, business decisions are not always black and white.

A business’s ethical decisions and behavior stems from the top down. If the owners and leaders of the organization are not acting in an ethical and fair manner, the employees are a lot less likely to act ethically. The opposite is also true! If business leaders create a culture that values ethical decision making, it will be natural for all employees to follow that path.

Making a fair and ethical decision can be difficult. Resources are available to help business professionals objectively evaluate the issue at hand. Asking for input from coworkers, mentors, or leadership can be valuable in examining all aspects of the situation to fairly come up with a solution.

Business leaders who are transparent about their decision making with their employees elevate the ethical value of the organization. They not only show they are trustworthy and respectful, but they also show the utmost care in their decision-making methods. Placing ethics and integrity high on the list of the organization’s values will give the business a strong foundation of good business practices.

That doesn’t mean mistakes can’t be made. But when they are, it becomes an important part of the ethical behavior to evaluate the unforeseen consequences and seek ways to fix them.

In insurance, we value ethical decision making to the highest extent. At VAST, ethical decision making is an important part of our daily culture. VAST’s culture is top of mind with all team members from the management to the service team. Culture is often cited as the reason individuals love working at VAST. Per our website, “VAST continues to be a company of choice in a community of choice. We have been named Top Insurance Workplace for the last five years and have made the top 100 list for Best Places to Work in Insurance for the last two years. We hire for culture additions – not just a culture fit.”

Culture is frequently noted as the number one influence in business ethical decisions. Culture is built from the top down in a business. When facing a situation that feels unethical, it is important to weigh your choices and outcomes and make the best decision after thoughtful consideration. Your business culture will benefit greatly from honesty, transparency, and fairness in your decision making process.

References:

https://www.scic.com/6-steps-to-ethical-decision-making-what-every-insurance-professional-should-consider/#msdynttrid=h1qs2ggOAt-vT5WHOdp9ltupreCqf3SkuI6AfApDXpE

https://www.vastsolution.com/about/careers

https://www.insurancebusinessmag.com/us/best-insurance/top-insurance-employers-2022-415149.aspx#winnersListSection

https://www.businessinsurance.com/section/best-places-to-work?mkt_tok=NDMyLUZYRS01NDcAAAGH2JU3OM0KcXEFfqZ1TaCbMZwcu4FWZivJ3-sfVswAciTAKbpdGAijvZKkMpq5b0dQMS49HmjvDY-97mxalwF-jkyJeI6UbAydUgHGlv9g

https://www.masterclass.com/articles/ethical-decision-making-process

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