What Is The Importance Of Ethics In Business Ethics
A leader should ask themself questions before he makes up his mind and a decision. He should think about the way he or she feels or what emotions are involved in taking action. For instance, if a leader hears some insider trading information and they know they will profit from the news, they should first ask themselves if it is the right thing to do. Is it fair? Since insider training refers to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security (U.S. Securities and Exchange Commission, 2001), it is also considered illegal; not just morally wrong.
Clearly anger and other emotions can influence thoughts and actions. Whether that is good or bad depends on whether the emotion leads to right or wrong action. If empathy or guilt lead you to recognize an ethical issue or think about the consequences of your actions for others, that is a good thing. If moral outrage leads you to seek justice, that is good as well. But moral outrage can also lead to a desire for revenge, and that may be the time to bring cooler heads to the decision to determine whether action based upon revenge is a good ethical decision (Trevino, 2010, pg. …show more content…
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