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Explore the significance of values, their influence on moral reasoning and leadership, and ways to align personal values with professional ethics. Reflect on key principles through exercises and real-world examples.
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Leadership, Individual Value Awareness, and Business Ethics Scott N. Taylor, PhD Assistant Professor of Organizational Behavior Anderson School of Management University of New Mexico
What is a Value? • An enduring belief • Principle-based beliefs and desires about how things should be accomplished • Beliefs that influence every aspect of our lives, including moral judgments, responses to others, and commitment to goals • Beliefs that serve as guides to action
Why Consider Value Awareness with Business Ethics? • Value awareness has been connected to moral reasoning capability • People expect leaders to speak out on matters of values and conscience, but to do so, you must know what you stand for
Values Tested • “During World War II, James E. Faust, then a young enlisted man in the United States Army, applied for officer candidate school. He appeared before a board of inquiry composed of what he described as ‘hard-bitten career soldier[s].’ After a while their questions turned to matters of religion. The final questions were these: • “In times of war should not the moral code be relaxed? Does not the stress of battle justify men in doing things that they would not do when at home under normal situations?” • Faust relates: “I recognized that here was a chance perhaps to make some points and look broad-minded. I knew perfectly well that the men who were asking me this question did not live by the standards that I had been taught. The thought flashed through my mind that perhaps I could say that I had my own beliefs but did not wish to impose them on others.” • How would you respond to the board of inquiry?
My Values Exercise Come to the white board and list your top five values. If any of your values have already been listed on the board, simply place a check mark beside them.
Values • Basic convictions or beliefs about what is right, good, and/or desirable • May be instrumental or terminal • Are relatively stable and enduring • Important because they influence both attitudes and behavior
Values • Where do values originate? • Genetics • Parents (and other family members) • Teachers • Friends • National culture • Other
Exercise • Take out a sheet of paper and draw a line down the middle. • On the left side of the page write, “Great Leader/Manager” • Think of someone who you consider to be a great boss or leader, then list words or phrases that describe that person (his/her impact on you and others) • Now on the right side of the page, write, “Lousy Leader/Manager” • Think of someone who you consider to be a lousy boss or leader, then list words or phrases that describe that person
Great Leader/Deficient Leader Characteristics of Great Leader Characteristics of Deficient Leader
Small Group Exercise: What Makes a Difference? • In a group of about 3 or 4, discuss those differences you noted in your comparison. • What similarities, themes, or patterns emerge from your analyses? • Be prepared to report the three most important themes, patterns, or similarities.
Questions about Values • What factors have influenced your values? • How can you tell if someone is true to the values they espouse to believe in? • In your view, how important is it to be true to one’s values?
Values: A Closer Look • “Values are fundamental principles that guide our lives and serve as standards for our conduct. Some independently choose values for themselves and others allow their environment to choose their values for them.” • Do my values change? • What we value develops from “relatively simple, immature states toward more complex, wider ranging, more balanced states.” • What is fundamentally important to us may not shift as much as why and how much it is important to us.
Values: A Closer Look • Why pay attention to my values? • “If our values are continually before us, we are more likely to think before we act.” • “We can choose our actions based on principle instead of reacting to our emotions and circumstances.” • “It is easier to be congruent when we are clear about our values.” • “Practice of values builds a wall of safety”
Benjamin Franklin on Values • “We stand at the crossroads, each minute, each hour, each day, making choices. We choose the thoughts we allow ourselves to think, the passions we allow ourselves to feel, and the actions we allow ourselves to perform. Each choice is made in the context of whatever value system we’ve selected to govern our lives. In selecting that value system, we are, in a very real way, making the most important choice we will ever make…Since the foundation of all happiness is thinking rightly, and since correct action is dependent on correct opinion, we cannot be too careful in choosing the value system we allow to govern our thoughts and actions.”
Values: Reflection questions • To what degree do you feel you are living up to the values and ideals that are important to you? • Why is it important to understand our values as we think about leadership? • Helps us determine if we are living the way we want to live • Helps us determine how we compare to the values of others and of organizations • How do personal values relate to business ethics?
Would You Want to Work for This Company? Vision: [Our] vision is to become the world’s leading…company—creating innovative and efficient …solutions for growing economies and a better environment worldwide. • Respect • We treat others as we would like to be treated ourselves. We do not tolerate abusive or disrespectful treatment. Ruthlessness, callousness and arrogance don’t belong here. • Integrity • We work with customers and prospects openly, honestly and sincerely. When we say we will do something, we will do it; when we say we cannot or will not do something, then we won’t do it. • Communication • We have an obligation to communicate. Here, we take the time to talk with one another…and to listen. We believe that information is meant to move and that information moves people • Excellence • We are satisfied with nothing less than the very best in everything we do. We will continue to raise the bar for everyone. The great fun here will be for all of us to discover just how good we can really be.
Video: Bill George at Medtronic William George is the former Chairman and Chief Executive Officer of Medtronic. He joined Medtronic in 1989 as President and Chief Operating Officer, and was elected Chief Executive Officer in 1991, serving in that capacity through 2001. He was Chairman of the Board from 1996 to 2002. Under his leadership, Medtronic's market capitalization grew from $1.1 billion to $60 billion, averaging 35% a year. Questions to Consider: What are William George’s values? Do you believe his values have impacted others? If so, how?
Video: Jim Goodnight at SAS Questions to Consider: What does he value? How do his values influence his leadership decisions? How might his values and leadership guide him when facing ethical dilemmas? http://www.youtube.com/watch?v=lvsIcwHavOs
A Leader’s Key Value • During the critical days of WWII, Winston Churchill aroused an entire nation when he said: • “You ask, what is our aim? I can answer in one word: victory. Victory at all costs, victory in spite of all terror, victory, however long and hard the road may be; for without victory, there is no survival” • You ask, what is the aim of a leader? I can answer with one word: Integrity. Integrity at all costs, integrity in spite of all opposition, integrity however long and hard the road; for without integrity there can be no true victory.
The Disconnect Between Values Awareness and Leader Behavior When leaders ignore self-awareness—including personal value awareness—they become more likely to self-deceive, self-betray, and act contrary to ethical standards.
Values that Matter to Leadership • Middle managers can detect their CEOs' values • CEOs' values may either enhance or accentuate the effect of transformational behaviors on followers, depending on followers' reactions to the congruence or incongruence between leaders' internal values and their outward transformational behaviors. • Self-enhancement values—focusing on the leader's own happiness—accentuate the effect, whereas self-transcendent values—focusing on others' happiness—accentuate the effect of CEOs' transformational behaviors on followers' commitment.
Implications • What implications does what we have discussed have for you? • Now? • In the future? • What key action steps and/or commitments do you want to make based on what we have discussed?
