Let An Ethical GPS Guide Your Way: Navigating Finance Ethics
The choice between right and wrong can be a tough one, especially when so much is on the line.
With consumers and investors placing great importance on corporate sustainability and responsibility, one unethical action can severely damage the reputation of a company. To successfully navigate finance ethics, it is important to have an established process to guide you through an effective course of action.
PBO Advisory Group’s Mike Ford is a member of Forbes Finance Council, a group of senior-level finance executives who share their expert insight on issues within the financial services industry. Featured on Forbes.com, his most recently published article discusses the “ethical GPS” model created and taught by his friend and former colleague, Wade Lindenberger, who teaches ethics at the University of California, San Diego Rady School of Management.
In nine simple steps, Wade’s process allows for reflection and thoughtful determination of how to handle an ethical dilemma. These steps include:
- Determine whether you are facing an ethical dilemma
- Determine stakeholders
- Determine your professional obligations
- Gather the facts
- Consult with trusted advisors
- Outline your options and analyze their pros and cons
- Decide the best course of action
- Act clearly and decisively
- Conduct a review to establish lessons learned
Read Mike’s full article in Forbes here.
Mike Ford
Managing Director/Founding Member
mike@pboadvisory.com
858-935-4840