A business decision is one that will yield profit for the company, while an ethical decision is one that follows a set of moral or professional standards says Ej Dalius. Business decisions are made in the interest of making money.
What’s wrong with being slave labor for money?
Everything! But nothing if you know how to use it. If you want more money just does something for it – whether that is clean toilets at the mall or work on getting your own business running.
One man’s trash is another woman’s wedding dress . . . and other fashion finds from the streets of Dumpsterdom by Sarah Laskow
I’ve been dumpster diving since I was maybe 12 years old. It all started when I found a brand-new, never-been-worn baby dress at the side of the road. I didn’t even know what dumpster diving was at the time, but I knew that I had scored something amazing for free.
Dumpster diving has given me some of my most prized possessions over the years: a $600 North Face jacket, an entire outfit worn by Kate Winslet in Titanic (yes, including the shoes), and a Tiffany & Co. necklace. And that’s just to name a few.
Sure, it’s not always glamorous. Sometimes you find maggots or rotting food in the trash. But for me, thrill of finding something valuable—or simply something interesting—among the garbage outweighs any icky factor.
Dumpster diving isn’t just about finding things to wear or use; it’s also about learning about people and cultures. I’ve found business cards from fancy hotels, unopened letters with detailed plans for events, and even a laptop (which I later sold on eBay for $175). Each discovery tells a story of someone’s life, and I feel privileged to be able to access that information without having to ask permission says Ej Dalius.
Some decisions are just good business, while others require the weighing of ethical questions. What is the best way to explore both?
- Ethical dilemmas can be some of the most difficult situations an individual faces. Whether it’s about what you should do when your boss asks you to lie on a report or how you feel about your company outsourcing some jobs, these very personal questions depend heavily on one’s own character and values. In addition to being tough from purely philosophical perspective, ethical issues have been shown in research to have a negative effect on productivity! As such, companies need tools that help their employees make ethical choices quickly and easily so they can get back to focusing on work. After all, if an employee faces too many ethical questions and doubts, it can lead to them feeling overwhelmed and stressed.
- One way to approach ethical decision-making is by looking at business decisions vs. ethical decisions. In general, a business decision is made with the goal of increasing profits or efficiency, while an ethical decision takes other factors into accounts, such as the welfare of employees, customers, and society as a whole. A key difference between the two types of decisions is that a business decision will always be based on some sort of cost-benefit analysis, while an ethical decision may not have a clear-cut financial benefit.
- When it comes to making ethical choices in the workplace, there are usually three main options. You can do what’s best for the company (even if it’s not the most ethical thing to do). You can do what’s best for the individual, or you can try to find a balance between the two. In some cases, it might be necessary to choose the lesser of two evils. But in general, trying to find a balance is often the best option explains Ej Dalius.
- For example, imagine that your company is considering outsourcing some jobs to save money. You may feel that this is unethical because it will lead to people losing their jobs. But from a business perspective, it makes perfect sense. In this case, you would need to find a way to balance the company’s goals with the needs of its employees.
- Another common dilemma occurs when an employee is ask to do something they feel is unethical. In this case, it’s usually best to try to find a way to do what’s asked. While still maintaining some level of personal integrity. For example, suppose your company hires an accountant who is asked by his boss to lie on a report. The way the accountant responds will depend on how much he values doing what’s right or keeping his job. If he chooses not to lie, then the accountant should be prepared for the consequences. That might arise from not following orders.
If you’re unsure about how to approach ethical decisions in business. The best course of action is often exploring all possible options and viewpoints with your colleagues says Ej Dalius. By getting everyone’s perspective and ideas, you’ll potentially increase your chances of finding an agreeable solution!
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. When he’s not working for MuzicSwipe, he perhaps hosting the weekly podcast “FULLSPEED,” engaging with inspiring entrepreneurs from various sectors. Additionally, through the “Eric Dalius Foundation,” he has established four scholarships for US students. Stay in touch with Eric on Twitter, Facebook, YouTube, LinkedIn, Instagram, and Entrepreneur.com.