In: Finance
Addressing Individuals’ Common Ethical Problems
Let’s consider what is important to you, or your values. In this Chapter, Treviño and Nelson suggest common values include “honesty, respect, responsibility, compassion, [and] fairness (2017, p. 153).” Make a list of three or four values you would stand up for, and then describe how you would explain those values to others and why they are important to you. Please explain in details
Ans :
As a an individual to address the common ethical problem I would stand up for following common value factors which affect us first then to people & also to our country as a whole.
1. Honesty :
Honesty is not just about telling the truth. It’s about being real with yourself and others about who you are, what you want and what you need to live your most authentic life. Honesty promotes openness, empowers us and enables us to develop consistency in how we present the facts. Honesty sharpens our perception and allows us to observe everything around us .Here are some ways to practice honesty in life:
a. Be truthful to yourself. Before even trying to be more honest with other people, we should practice being ruthful to ourselves first. It’s right when people say that no one knows you better than yourself. So, take a step back and examine your emotions and intentions. What do you really feel? What do you want out of a conversation? Is there something you would like the other person to know?. It’s very important to ask ourselves these to reflect on what is happening in our lives. By being truthful to ourselves, we will know what should be said, and what should be paid attention to.
b. Understand what makes you want to lie.When we lie to others, it’s not really because it is our intention to betray or hurt them. More often than not, it’s because we think it’s the best way to avoid issues and arguments. The complicated thing about this is that lies tend to cause another lie. and you do not really want that to happen. The same can be said about hiding truths, or lying by omission .What you need to do is understand why you lie in the first place, and assess whether you are right in thinking it is the case. We have to remove our assumptions that people will be happier when lied to. If you put yourself in the other person’s shoes, you will know that they would rather be told the truth and be hurt, than have their trust betrayed.
c. Be yourself. Now that you understand your intentions and the truth behind your lies, you have to begin owning up to who you really are. This may be a bitter pill to swallow, but you have to admit that in the process of creating your web of lies, you have also developed people-pleasing behaviours. Most of the time, this is at the expense of unveiling your genuine personality. We adjust how we interact with people to allow the lies to fit in, so we end up being stuck in having to keep up an act.If you just realized that you have been unintentionally doing this, it’s time to ask yourself, “Is this really who I want to be?” Sure, you can keep wearing the new personality that inevitably made, but are you comfortable enough to say that you’re being who you are?
2. Respect
Respect is one character trait you may easily recognize when you see it and just as easily identify when it is absent. We all want to be respected, but you’re not sure how to get it for ourselves an give to others .
We have to stop focusing on ourselves , and start thinking about others. By asking few question to us like
i) How can you help others?
ii) How can you inspire change, growth, and innovation?
iii) When you think about the people you respect deeply, what do they do ?
Following are few tips which we need to follow:
a. Don’t always wait for direction from others. Use your own skills and resources to start getting things done and solve problems. Get in the habit of figuring things out for yourself. Don’t be afraid of a challenge once in a while.
b. Keep your promises. This is by far one of the most important actions you can take to start gaining respect. If you took commitments lightly in the past, don’t do that anymore. Always honour commitments and promises. Avoided giving falls promises.,
c. Stop using the word “sorry” a hundred times an hour for every little thing that goes wrong, especially in the workplace People who are constantly saying, “I’m sorry,” without giving it a second thought are usually not the ones that are well respected. There is a time and place for apologies. Sometimes you make mistakes that affect family and friends. You can apologize to them.
d. Don’t waste other people’s time.If you respect others’ time, they will not respect yours. This includes not being late for appointments, not spending meetings talking about useless items, getting to the point fast, bringing up issues right away ,making it easier for others to make decisions, especially when they are busier than you.
e. Stop gossiping immediately. Always act as if the person you’re talking about is right there with you. You need to respect others—even if you don’t like them. Everyone has desirable and undesirable traits. Realize this and talk from this fundamental belief. If you talk behind people’s backs, you and your reputation will quickly become irrelevant.
f. Stop being too nice. Distinguish kindness from always having to do things for people. Trying to make everyone happy won’t get you very far.. If you’re too nice to everyone all the time, some people might even think you’re not genuine.
g. Practice humility. You’re not always going to be right, and you’re not the best at everything. Every person you meet can teach you something. Confidence doesn’t come from a place where you’re the best. True confidence comes from understanding humility, and that every person has something unique to offer to the world, including you.
3. Responsibility :
When one do what he has promised, people consider him as a responsible and reliable person. This boosts a person's self-esteem and self-worth. For an employee they'll soon find they're given tasks and assignments of higher importance, ultimately leading to raises and promotions.
Responsibility doesn’t come at birth. It is something that is acquired as you age, go to school and progress in life. Your sense of responsibility can come from your family members, friends or from something you see on TV. However, you can hear and see a lot of different things, both good and bad. That is why your sense of responsibility depends solely on you. You choose your own behavior, actions and words.
So, responsibility is a skill. You learn it. However, there are different ways of doing so. You shape your personality with your actions. For example, it is you who chooses to be lazy or to get up early every day, or if you want to save money or spend it recklessly. It is about proving to yourself that you can be, and that you are, in fact, accountable.
Few tips on how you can improve your responsibility are as follow :
i) Be consistent and keep to your schedule
ii) Stop making excuses for yourself
iii) Stop complaining
iv) Learn how to manage your finances
v) Make the Change You've Always Wanted Now!