Behavioral ethics Chpt 5.docx - Behavioral ethics is a new and exciting interdisciplinary field which looks at why people make decisions It does a great

Behavioral ethics Chpt 5.docx - Behavioral ethics is a new...

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Behavioral ethics is a new and exciting interdisciplinary field which looks at why people make decisions. It does a great job of teaching us the human dynamics that often lead us to make bad decisions. The ability to learn and identify these dynamics will be key to your ethical lives. You will be able to avoid the things that yield poor decisions and encourage environments that support good decisions. To that end I'm including several videos in the next few sections and you should not try to learn them all at once. Start with a page each sitting to ensure you have learned to identify the first group before proceeding. On this page I've included the opening video to the series followed by four concepts. Learn the first for and then come back for more later. A key take away from Bounded Ethicality is that we are limited beings. The first step in transcending our limitations is to know that we are limited and then learn to overcome them (often through a good team). People who think "I can handle it" are setting themselves up for a fall. Perhaps the only thing worse is people who don't think they make mistakes (even some very successful people believe this). In my experience hiring professionals the question "what was your biggest leadership mistake and what did you learn from it?" is one of the best questions to ask. It has many great answers, but only one failing answer - "I don't make mistakes" (which I've heard in a high level interview). We are all human, all make mistakes, and the first step to avoiding them is to recognize our bounded ethicality. Conflicts of interest are one of the most common, and regulated, ethical concepts. Most organizations, universities included, have conflict of interest policies which shows how important and common the problem is. For an organization to function properly it must align incentives and rewards with goals and outcomes. Conflicts of interest break the alignment leading to dysfunctional organizations more likely to encounter additional unethical actions. A conflict of interest is when you have motivations to do opposing things. Sometimes this is inherent in the nature of our jobs such as a salesperson who has an interest in pleasing their boss as well as helping the person in front of them and sometimes even a personal interest in the case of sales commissions. In particular cases each of these interests can conflict leaving a person with a conflict in which something gets sacrificed. Usually though conflicts of interest can be avoided by structuring roles and obligations clearly, with matched incentives and rewards to meeting those obligations. A classic case of a conflict of interest is one from Enron in which the companies chief financial officer was tasked with selling company assets.
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