Values and ethics are used by individuals when making decisions regarding their actions and behaviours.Ĭorporate leadership makes decisions and recommendations within an ecosystem 3 where stakeholders and third parties have VME with major differences and conflicts. 2 Is the sole purpose to make as much money as possible, constrained by laws, regulations, and company policies? VME should also tie back to the purpose of the corporation. Many companies and professions have a Code of Ethics. You make a decision based on what you believe is “the right thing to do.” Morals reflect external observable actions and behaviours.Įthics: Ethical decisions, actions, and behaviours are based on following a document set of standards or principles. You are judged by others as to whether or not your actions are moral or immoral.

Morals are based on a broader perspective than just the individual. Morals are actions and behaviours arising from one or more values. Morals: Morals are decisions, actions, and behaviours which people feel are right or wrong, good or bad. Values are what someone thinks and feels internally. Values have different importances, which is helpful when needed to trade off or balance one value versus other values.

Values: Values are the rules by which people make decisions about what they should or should not do. You cannot have a discussion about VME (values, morals, and ethics) if everyone has different definition of what the words mean. 005% income tax was “not the right thing to do.” As it turned out, the European Commission ruled in August 2016 that Ireland’s tax agreement with Apple was illegal and that Apple owed billions of income tax. The CEO stated that what Apple did was alright because all the laws were followed. 005% income tax on billions of Euros of profit in Ireland. To illustrate the confusion: for a few years Apple Computer only paid. Many in the broader public associate ethics with morals and doing what is right. many board of director’s mandates mention meeting “highest ethical standards”, but what does that actually mean? Many in corporate leadership 1 believe ethics means compliance with laws, regulations, and company policies.

The concepts are different, which can result in confusing sets of expectations. People often use these terms interchangeably.

How do you understand your company’s position?.

What role should they play in hiring, promotions, and terminations?.

How do they impact company value growth and preservation?.

Value imposition