Values-based leadership

[Audio] Values-based leadership Prepared by: Patricia Roe G Martinez, Batch 9 Sec 3.

[Audio] Learning Objectives: What ethical challenges do managers likely face? Why are ethics relevant to principles of management? What decision-making framework can you use to help integrate ethics into your own principles of management?.

[Audio] Ethical Challenges Managers Face Ethical dilemmas can arise from a variety of areas: Advertising (desire to present your product or service in the best light) Sourcing of raw materials (does the company buy from a supplier who may be underpaying their people or damaging the environment?) Privacy (should the company have access to private emails that employees write on company time? Or the websites they visit during work hours?) Safety (employee & community) Pay scales (relation of the pay of top executives to the rest of the company) Product pricing policies (variable pricing, discounts) Communication (with stockholders, announcements of plant closing, etc) Main reasons for a lapse of ethics: Pressure to meet unrealistic business objectives/deadlines A desire to further one's career A desire to protect one's livelihood.

[Audio] Importance of Ethics in Management Maintains good image and good will Good relationship with stakeholders Better relation with employees Promotes fair competition Improves customer satisfaction Better working environment Better decision making Increased productivity and profitability.

[Audio] Integrating Ethics into Managerial Decision Making Steps in an Ethical Decision Making Process: Assess the situation: - What are you being asked to do? Is it illegal or unethical? Who might be harmed? Identify the stakeholders and consider the situation from their point of view: - For example, consider the POV of the company's employees, top management, stockholders, customers, suppliers, and community. Consider the alternatives you have available to you and how they affect the stakeholders: Consequences, duties, rights & principles, and implications for personal integrity & character How does the action make you feel about yourself? Make a decision: - Know your values and your limits. If the company does nothing to rectify the situation, do you want to continue working for the company? Monitor outcomes: - How did the decision work out? How did it turn out for all concerned? If you had it to do over again, what would you do differently?.

[Audio] Key Takeaway Management involves decision making, and decisions often have an ethical component. Beyond personal ethics or a moral code, managers face making decisions that reflect the company as a whole, affecting its future success and vitality. Ethics doesn't just mean following the law but acting in accordance with basic values..

[Audio] Bible Verse "Be diligent to present yourself approved to God, a worker who does not need to be ashamed, rightly dividing the word of truth." 11 Timothy 2:15.