THE ETHICS OF BUSINESS by Al Gini & Alexei Marcoux

Author:Al Gini & Alexei Marcoux
Language: eng
Format: epub
ISBN: 9781442214347
Publisher: ROWMAN & LITTLEFIELD PUBLISHERS, INC.
Published: 2014-04-10T16:00:00+00:00

CONCLUSION

Trust is essential to business. The advantages gained by abusing trust tend to be transitory, while the loss of trust tends to be permanently damaging to your career. Truth-telling is the basic building block of trust. In business, we are duty-bound to tell the truth when doing so would impair the ability of another person to make a rational decision. However, we ought not to reveal the truth where we are duty-bound to maintain confidences (as with trade secrets). Similarly, we may be justified in misrepresenting our settlement preferences in negotiations because people don’t need to know our settlement preferences to make a rational decision about whether to transact at a proposed price. Thus, as in other aspects of business ethics, truth-telling is something that must be pursued at the right time, for the right reasons, and in the right measure.

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