Question is below Josephson's Core Values Analysis and Decision Process Michael Josephson, a noted American ethicist, believes that a current set of core values has been identified and that the values can be meaningfully applied to a variety of personal and corporate decisions To simplify, let's say that there are ethical and nonethical qualities among people in the United States When you ask people what kinds of qualities they admire in others or in themselves, they may say wealth, power, fitness, sense of humor, good looks, intelligence, musical ability, or some other quality They may also value honesty, caring, fairness, courage, perseverance, diligence, trustworthiness, or integrity The qualities on the second list have something in commonthey are distinctively ethical characteristics That is, they are commonly seen as moral or ethical qualities, unlike the qualities on the first list You can be, like the Athenian Alcibiades, brilliant but unprincipled, or, like some political leaders today, powerful but dishonest, or wealthy but uncaring You can, in short, have a number of admirable qualities (brilliance, power, wealth) that are not per se virtuous Just because Harold is rich or good looking or has a good sense of humor does not mean that he is ethical But if Harold is honest and caring (whether he is rich or poor, humorous or humorless), people are likely to see him as ethical Among the virtues, are any especially important Studies from the Josephson Institute of Ethics in Marina del Rey, California, have identified six core values in our society, values that almost everyone agrees are important to them When asked what values people hold dear, what values they wish to be known by, and what values they wish others would exhibit in their actions, six values consistently turn up (1) trustworthiness, (2) respect, (3) responsibility, (4) fairness, (5) caring, and (6) citizenship Note that these values are distinctly ethical While many of us may value wealth, good looks, and intelligence, having wealth, good looks, and intelligence does not automatically make us virtuous in our character and habits But being more trustworthy (by being honest and by keeping promises) does make us more virtuous, as does staying true to the other five core values Notice also that these six core values share something in common with other ethical values that are less universally agreed upon Many values taught in the family or in places of worship are not generally agreed on, practiced, or admired by all Some families and individuals believe strongly in the virtue of saving money or in abstaining from alcohol or sex prior to marriage Others clearly do not, or at least don't act on their beliefs Moreover, it is possible to have and practice core ethical values even if you take on heavy debt, knock down several drinks a night, or have frequent premarital sex Some would dispute this, saying that you can't really lead a virtuous life if you get into debt, drink heavily, or engage in premarital sex But the point here is that since people do disagree in these areas, the ethical traits of thrift, temperance, and sexual abstinence do not have the unanimity of approval that the six core values do The importance of an individual's having these consistent qualities of character is well known Often we remember the last bad thing a person did far more than any or all previous good acts For example, Eliot Spitzer and Bill Clinton are more readily remembered by people for their last, worst acts than for any good they accomplished as public servants As for a company, its good reputation also has an incalculable value that when lost takes a great deal of time and work to recover Shell, Nike, and other companies have discovered that there is a market for morality, however difficult to measure, and that not paying attention to business ethics often comes at a serious price In the past fifteen years, the career of ethics and compliance officer has emerged, partly as a result of criminal proceedings against companies but also because major companies have found that reputations cannot be recovered retroactively but must be pursued proactively For individuals, Aristotle emphasized the practice of virtue to the point where virtue becomes a habit Companies are gradually learning the same lesson Josephson's Core Values Model Once you recognize that there is a decision that involves ethical judgment, Michael Josephson would first have you ask as many questions as are necessary to get a full background on the relevant facts Then, assuming you have all the needed information, the decision process is as follows Identify the stakeholders That is, who are the potential gainers and losers in the various decisions that might be made here Identify several likely or reasonable decisions that could be made Consider which stakeholders gain or lose with each decision Determine which decision satisfies the greatest number of core values If there is no decision that satisfies the greatest number of core values, try to determine which decision delivers the greatest good to the various stakeholders It is often helpful to identify who (or what group) is the most important stakeholder, and why In Milton Friedman's view, it will always be the shareholders In the view of John Mackey, the CEO of Whole Foods Market, the long term viability and profitability of the organization may require that customers come first, or, at times, some other stakeholder group (see Conscious Capitalism in Section 2 4 Corporations and Corporate Governance ) The Core Values Here are the core values and their subcomponents as developed by the Josephson Institute of Ethics Trustworthiness Be honest tell the truth, the whole truth, and nothing but the truth be sincere, forthright don't deceive, mislead, or be tricky with the truth don't cheat or steal, and don't betray a trust Demonstrate integrity stand up for what you believe, walk the walk as well as talking the talk be what you seem to be show commitment and courage Be loyal stand by your family, friends, co workers, community, and nation be discreet with information that comes into your hands don't spread rumors or engage in harmful gossip don't violate your principles just to win friendship or approval don't ask a friend to do something that is wrong Keep promises keep your word, honor your commitments, and pay your debts return what you borrow Respect Judge people on their merits, not their appearance be courteous, polite, appreciative, and accepting of differences respect others' right to make decisions about their own lives don't abuse, demean, mistreat anyone don't use, manipulate, exploit, or take advantage of others Responsibility Be accountablethink about the consequences on yourself and others likely to be affected before you act be reliable perform your duties take responsibility for the consequences of your choices set a good example and don't make excuses or take credit for other people's work Pursue excellence Do your best, don't quit easily, persevere, be diligent, make all you do worthy of pride Exercise self restraintbe disciplined, know the difference between what you have a right to do and what is right to do Fairness Treat all people fairly, be open minded listen consider opposing viewpoints be consistent use only appropriate considerations don't let personal feelings improperly interfere with decisions don't take unfair advantage of mistakes don't take more than your fair share Caring Show you care about others through kindness, caring, sharing, compassion, and empathy treat others the way you want to be treated don't be selfish, mean, cruel, or insensitive to others' feelings Citizenship Play by the rules, obey laws do your share, respect authority, stay informed, vote, protect your neighbors, pay your taxes be charitable, help your community protect the environment, conserve resources When individuals and organizations confront ethical problems, the core values decision model offered by Josephson generally works well (1) to clarify the gains and losses of the various stakeholders, which then raises ethical awareness on the part of the decision maker and (2) to provide a fairly reliable guide as to what the most ethical decision would be In nine out of ten cases, step 5 in the decision process is not needed That said, it does not follow that students (or managers) would necessarily act in accord with the results of the core values decision process There are many psychological pressures and organizational constraints that place limits on people both individually and in organizations These pressures and constraints tend to compromise ideal or the most ethical solutions for individuals and for organizations For a business, one essential problem is that ethics can cost the organization money or resources, at least in the short term Doing the most ethical thing will often appear to be something that fails to maximize profits in the short term or that may seem pointless because if you or your organization acts ethically, others will not, and society will be no better off, anyway Question Consider XYZ in the exercises for Section 2 2 5 Josephson's Core Values Analysis and Decision Process and use the core values decision making model What are XYZ's options when they first notice that two of their models are causing sudden acceleration incidents that put their customers at risk Who are the stakeholders What options most clearly meet the criteria for each of the core values

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Question is below Josephson's Core Values Analysis and Decision Process Michael Josephson, a noted American ethicist, believes that a current set of core values has

Question is below

Josephson's Core Values Analysis and Decision Process

Michael Josephson, a noted American ethicist, believes that a current set of core values has been identified and that the values can be meaningfully applied to a variety of personal and corporate decisions.

To simplify, let's say that there are ethical and nonethical qualities among people in the United States. When you ask people what kinds of qualities they admire in others or in themselves, they may say wealth, power, fitness, sense of humor, good looks, intelligence, musical ability, or some other quality. They may also value honesty, caring, fairness, courage, perseverance, diligence, trustworthiness, or integrity. The qualities on the second list have something in commonthey are distinctively ethical characteristics. That is, they are commonly seen as moral or ethical qualities, unlike the qualities on the first list. You can be, like the Athenian Alcibiades, brilliant but unprincipled, or, like some political leaders today, powerful but dishonest, or wealthy but uncaring. You can, in short, have a number of admirable qualities (brilliance, power, wealth) that are not per se virtuous. Just because Harold is rich or good-looking or has a good sense of humor does not mean that he is ethical. But if Harold is honest and caring (whether he is rich or poor, humorous or humorless), people are likely to see him as ethical.

Among the virtues, are any especially important? Studies from the Josephson Institute of Ethics in Marina del Rey, California, have identified six core values in our society, values that almost everyone agrees are important to them. When asked what values people hold dear, what values they wish to be known by, and what values they wish others would exhibit in their actions, six values consistently turn up: (1) trustworthiness, (2) respect, (3) responsibility, (4) fairness, (5) caring, and (6) citizenship.

Note that these values are distinctly ethical. While many of us may value wealth, good looks, and intelligence, having wealth, good looks, and intelligence does not automatically make us virtuous in our character and habits. But being more trustworthy (by being honest and by keeping promises) does make us more virtuous, as does staying true to the other five core values.

Notice also that these six core values share something in common with other ethical values that are less universally agreed upon. Many values taught in the family or in places of worship are not generally agreed on, practiced, or admired by all. Some families and individuals believe strongly in the virtue of saving money or in abstaining from alcohol or sex prior to marriage. Others clearly do not, or at least don't act on their beliefs. Moreover, it is possible to have and practice core ethical values even if you take on heavy debt, knock down several drinks a night, or have frequent premarital sex. Some would dispute this, saying that you can't really lead a virtuous life if you get into debt, drink heavily, or engage in premarital sex. But the point here is that since people do disagree in these areas, the ethical traits of thrift, temperance, and sexual abstinence do not have the unanimity of approval that the six core values do.

The importance of an individual's having these consistent qualities of character is well known. Often we remember the last bad thing a person did far more than any or all previous good acts. For example, Eliot Spitzer and Bill Clinton are more readily remembered by people for their last, worst acts than for any good they accomplished as public servants. As for a company, its good reputation also has an incalculable value that when lost takes a great deal of time and work to recover. Shell, Nike, and other companies have discovered that there is a market for morality, however difficult to measure, and that not paying attention to business ethics often comes at a serious price. In the past fifteen years, the career of ethics and compliance officer has emerged, partly as a result of criminal proceedings against companies but also because major companies have found that reputations cannot be recovered retroactively but must be pursued proactively. For individuals, Aristotle emphasized the practice of virtue to the point where virtue becomes a habit. Companies are gradually learning the same lesson.

Josephson's Core Values Model

Once you recognize that there is a decision that involves ethical judgment, Michael Josephson would first have you ask as many questions as are necessary to get a full background on the relevant facts. Then, assuming you have all the needed information, the decision process is as follows:

Identify the stakeholders. That is, who are the potential gainers and losers in the various decisions that might be made here
Identify several likely or reasonable decisions that could be made.
Consider which stakeholders gain or lose with each decision.
Determine which decision satisfies the greatest number of core values.
If there is no decision that satisfies the greatest number of core values, try to determine which decision delivers the greatest good to the various stakeholders.

It is often helpful to identify who (or what group) is the most important stakeholder, and why. In Milton Friedman's view, it will always be the shareholders. In the view of John Mackey, the CEO of Whole Foods Market, the long-term viability and profitability of the organization may require that customers come first, or, at times, some other stakeholder group (see "Conscious Capitalism" in Section 2.4 "Corporations and Corporate Governance").

The Core Values

Here are the core values and their subcomponents as developed by the Josephson Institute of Ethics.

Trustworthiness: Be honesttell the truth, the whole truth, and nothing but the truth; be sincere, forthright; don't deceive, mislead, or be tricky with the truth; don't cheat or steal, and don't betray a trust. Demonstrate integritystand up for what you believe, walk the walk as well as talking the talk; be what you seem to be; show commitment and courage. Be loyalstand by your family, friends, co-workers, community, and nation; be discreet with information that comes into your hands; don't spread rumors or engage in harmful gossip; don't violate your principles just to win friendship or approval; don't ask a friend to do something that is wrong. Keep promiseskeep your word, honor your commitments, and pay your debts; return what you borrow.

Respect: Judge people on their merits, not their appearance; be courteous, polite, appreciative, and accepting of differences; respect others' right to make decisions about their own lives; don't abuse, demean, mistreat anyone; don't use, manipulate, exploit, or take advantage of others.

Responsibility: Be accountablethink about the consequences on yourself and others likely to be affected before you act; be reliable; perform your duties; take responsibility for the consequences of your choices; set a good example and don't make excuses or take credit for other people's work. Pursue excellence: Do your best, don't quit easily, persevere, be diligent, make all you do worthy of pride. Exercise self-restraintbe disciplined, know the difference between what you have a right to do and what is right to do.

Fairness: Treat all people fairly, be open-minded; listen; consider opposing viewpoints; be consistent; use only appropriate considerations; don't let personal feelings improperly interfere with decisions; don't take unfair advantage of mistakes; don't take more than your fair share.

Caring: Show you care about others through kindness, caring, sharing, compassion, and empathy; treat others the way you want to be treated; don't be selfish, mean, cruel, or insensitive to others' feelings.

Citizenship: Play by the rules, obey laws; do your share, respect authority, stay informed, vote, protect your neighbors, pay your taxes; be charitable, help your community; protect the environment, conserve resources.

When individuals and organizations confront ethical problems, the core values decision model offered by Josephson generally works well (1) to clarify the gains and losses of the various stakeholders, which then raises ethical awareness on the part of the decision maker and (2) to provide a fairly reliable guide as to what the most ethical decision would be. In nine out of ten cases, step 5 in the decision process is not needed.

That said, it does not follow that students (or managers) would necessarily act in accord with the results of the core values decision process. There are many psychological pressures and organizational constraints that place limits on people both individually and in organizations. These pressures and constraints tend to compromise ideal or the most ethical solutions for individuals and for organizations. For a business, one essential problem is that ethics can cost the organization money or resources, at least in the short term. Doing the most ethical thing will often appear to be something that fails to maximize profits in the short term or that may seem pointless because if you or your organization acts ethically, others will not, and society will be no better off, anyway.

Question

Consider XYZ in the exercises for Section 2.2.5 "Josephson's Core Values Analysis and Decision Process" and use the core values decision-making model. What are XYZ's options when they first notice that two of their models are causing sudden acceleration incidents that put their customers at risk? Who are the stakeholders? What options most clearly meet the criteria for each of the core values?