Business Ethics and Corporate Governance, Second Edition

ETHICAL DECISION-MAKING

Ethical decision-making is a very tough prospect in this dog-eats-dog world. However, in the long run all will have to fall in and play fair. The clock is already ticking for the unscrupulous corporations. In this age of liberalization and globalization, the old dirty games and unethical conduct will no longer be accepted and tolerated.

Norman Vincent Peale and Kenneth Blanchard²⁰ have prescribed some suggestions to conduct ethical business.

• Is the decision you are taking legal? If it is not legal, it is not ethical.
• Is the decision you are taking fair? In other words, it should be a win-win-equitable risk and reward.
• The Eleventh Commandment—‘Though shall not be ashamed when found’, meaning when you are hauled up over ...