Utah Bankers Association

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Winfred Rogers
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1 Utah Bankers Association November 18, :00 a.m. to 4:00 p.m. Instructor: Joe Zavaglia, M.Ed. Credibility & Ethics in Competitive Banking Environments!

2 Our goals are to: Enhance our understanding of the four ethical dilemma paradigms and apply them to our experiences Develop our understanding of the three principles for resolving ethical dilemmas and how we apply them in our business environment Understand the ethical dilemmas created by Competition versus co-opetition using discussion and debate around interactive exercises, and shared real-world experiences Learn about your important role as an ethical role model and ethics coach in your bank Practicing the Nine Checkpoints for Ethical- Decisions

3 If someone working for you made a very costly mistake and you realized that your instructions could have been clearer, would you be more likely to describe the incident to your superior in a way that protected your subordinate or yourself? What if one of you would be fired? What would you do? *The Book of Questions: Business, Politics, and Ethics, by Gregory Stock, Ph.D.

4 John C. Maxwell s Observation* 1. I am always ethical 2. I am mostly ethical 3. I am somewhat ethical 4. I am seldom ethical 5. I am never ethical * Ethics 101, What Every Leader Needs to Know by John C. Maxwell

7 Good People Make Tough Choices

8 Good People Make Tough Choices.and sometimes they make bad ones!

9 Leadership Involves actions focused on how to get people to want to perform through their own initiative. Credibility Visionary Empowerment Encouragement Trustworthiness

10 Credibility! What are your values? Who is the role model?

11 Business Ethics?

12 Business Ethics comprises the set of principles and standards that govern our actions and decisions as they pertain to what is right and wrong within the context of business practice.

13 Immorality Three Approaches to Business Ethics* The deliberate violation of laws, moral standards, and ethical principle where the motive is greed. Amorality Passive indifference towards laws, moral standards, and ethical principles where the motive is profit. Morality The motive is earning a profit with legal and ethical boundaries * Effective Small Business Management, An Entrepreneurial Approach, by Scarborough, Wilson, & Zimmerer

14 Why Managers Embrace Morality in Business You prevent damage to the bank s reputation which can also damage profits. Banks with good reputations attract quality employees. Makes it easier for employees to manage the complexities and potential conf licts with stakeholders because they know where they stand.

15 Four Dilemma Paradigms* Truth versus loyalty Honesty & integrity versus commitment & responsibility Justice versus mercy Even handed application of law versus compassion Short-term versus long-term Immediate needs versus future goals or prospects Individual versus community Self versus others small group versus the larger group * Good People Make Tough Choices by Rushworth M. Kidder

16 Three Principles for Resolving Dilemmas* Ends-based Thinking Utilitarianism-the best choice is the one that provides the greatest good for the most people. Rules-based Thinking Categorical Imperative-the best choice utilizes the principle that you expect everyone to follow. Care-based Thinking Golden Rule- do to others what you would like them to do to you. * Good People Make Tough Choices by Rushworth M. Kidder

17 Kidder s Nine Checkpoints for Ethical Decision- Making* Recognize that there is a moral issue. Determine the actor. Gather the relevant facts. Test for right-versus-wrong issues. Test for right-versus-right paradigm. Apply the resolution principles. Investigate the trilemma options. Make the decision. Revisit and reflect on the decision. * Good People Make Tough Choices by Rushworth M. Kidder

18 Take Ten!

19 Cascade Survivor!!

20 What happened in your group? What Seven Adjectives best describe the dynamics of your group?

21 Competition Teams and Ethics* Cooperation Competition versus Cooperation Role of Trust Collaboration Co-opetition * What Would You Do? A Game of Ethical and Moral Dilemma, by Lorraine L. Ukens

22 Let s Do Lunch!!

23 Stakeholder

24 Stakeholder*: stake hold er [stáyk holdər] (plural stake hold ers) noun 1. somebody or something with direct interest: a person or group with a direct interest, involvement, or investment in something.* *Microsoft Encarta Microsoft Corporation.

25 Internal Stakeholders Employee Management Investors Board of Directors

26 External Stakeholders Customers Suppliers Special Interest Groups Government Creditors General Public

27 If your business were going bankrupt and most of the company s debts would never be paid, would you use the company s few remaining resources to reimburse customers for unfilled orders, to pay employees their back wages, or to pay suppliers for goods they had given you on credit? Assume you can do only one. What would you do? *The Book of Questions: Business, Politics, and Ethics, by Gregory Stock, Ph.D.

28 Employer Rights* Conf lict of Interest Gifts and Entertainment Trade Secrets Employee Productivity Monitoring Downsizing Honesty in Communication Agent s Duties * Business Ethics, Third Edition, by Milton Snoeyenbos, Robert Almeder, and James Humber

29 Employee Rights* Hiring Diversity and Discrimination Sexual Harassment Discharge Privacy Worker Safety Whistle blowing * Business Ethics, Third Edition, by Milton Snoeyenbos, Robert Almeder, and James Humber

30 Take Ten!

31 Stressors that Challenge Ethical Cultures Unethical employees Lack of accountability Ethical Blind spots Competition Stress Opportunity Stress

32 Setting an Ethical Culture Role model the expectation Establish clear tolerance levels for ethical violations Execute continual training and education programs Recognize ethical behavior when it occurs Be an ethics coach

33 Setting an Ethical Culture Establish checks and balances Establish open-door ethics coaching policy Establish ethical partnerships

34 Three Additional Approaches Used to Resolve Ethical Dilemmas The Television or Newspaper Test The Family Test The Professional Ethics Panel Test

35 Thank you!! Have a good evening!! Joe!

leadership 411 senior leadership integration seminar

leadership 411 senior leadership integration seminar Academic Year 2018-2019 Special Thanks The Krause Center for Leadership and Ethics would like to thank the Class of 1963 for their generous financial