During times of crises leaders must make the tough decisions, but choosing the right way to go is not always clear cut. Zaheera Soomar identifies three practical approaches to serve as guidelines for ethical decision-making.
During a recent conversation with a senior executive, she expressed a sentiment that many of us share: “When the pandemic has passed, I want to be able to say that, at the hardest of times, I did my best to do the right thing”. During this pandemic, leaders are expected to make difficult decisions with far-reaching consequences.
Ethical decision-making becomes even more important in times of crisis.
Leaders are constantly faced with ethical decisions, with all of the challenges associated with meeting the expectations of various stakeholders – investors, employees, customers, partners, regulators, local communities, and society at large. These decisions are rarely simple, bringing together financial considerations with deep-rooted beliefs about the right thing to do: Costco’s raising of its minimum wage, Woolworths’ decision to get out of liquor and gambling and Salesforce’s decision to bar certain firearms companies from using its services all represent tough decisions informed by ethics and values. Leaders must make decisions with limited knowledge, predicting their impact, and have confidence and trust that the compromises and trade-offs are the right ones.
Included in this article:
- Align your decisions with your purpose
- Follow agreed and actionable principles
- Prioritise and plan your decisions and actions
Read the full article, Making Good Decisions in times of Crisis, on the Principia website.