Ethics: Yes, Even When Nobody is Watching | Dawne Ware | TEDxFairfieldUniversity

Summary

The speaker reflects on personal ethics, sharing stories about finding a wallet, raising children with integrity, and her professional experiences as a CPA and CEO. She emphasizes the importance of following the 'golden rule,' teaching honesty to her children, and leading by example in the business world. Ethical behavior, she argues, is not just about following rules, but doing the right thing, even when no one is watching. The speaker also touches on corporate ethics, the evolving responsibilities of companies, and the role of leadership in setting a positive ethical tone.

Takeaways

• 🐕 The speaker found a wallet and chose to turn it into the police, reflecting their ethical decision-making process.
• 👨‍👩‍👦‍👦 The speaker emphasized teaching their children honesty by paying the correct ski ticket prices, even when no one was watching.
• ⚖️ Personal ethics are rooted in upbringing and experiences, with parents playing a crucial role in shaping moral compasses.
• 🧭 The speaker emphasized the importance of following the 'Golden Rule'—treating others as you would want to be treated—in both personal and professional situations.
• 🎓 As a CPA, the speaker follows a strict code of ethics and highlighted the role of professional ethics in maintaining accountability and integrity.
• 💼 The speaker believes that ethical behavior, transparency, and integrity are critical to leadership, especially in positions of authority like being a CEO.
• 📈 Ethical companies and leaders set the tone for their organizations by fostering transparency, fairness, and accountability.
• 🧑‍🏫 The speaker highlighted the role of mentors in shaping both personal and professional ethics, sharing examples of influential figures from their career.
• 🤝 Ethical decision-making in business involves treating employees, customers, and stakeholders with dignity, even in tough situations like layoffs.
• 🌍 Ethical considerations in modern business extend to emerging challenges like technology, AI, and data privacy, where companies must maintain integrity and transparency.

Q & A

What decision did the speaker make when they found a wallet in a parking lot?

The speaker decided to call the local police to report the found wallet and have officers retrieve it, rather than leaving it in a 'safe spot' or taking any other action.

How does the speaker's ethical decision-making extend to their role as a parent?

The speaker emphasizes that they and their spouse made honest choices in front of their children, such as paying the correct price for ski tickets based on their kids’ actual ages, to set an example of honesty and ethical behavior.

How does the speaker define personal ethics, and how do they influence day-to-day decisions?

The speaker defines personal ethics as a moral compass guiding actions and decisions in situations where no rules or laws apply. They highlight treating people fairly and doing what they would want others to do if roles were reversed.

What preconceived notion did someone express about the speaker's ethics after they were promoted to CEO?

Someone remarked that 'you don’t get to be where you are by following the rules,' implying that to be a CEO, one must have bent or broken rules. The speaker, however, disagrees and believes that their ethical nature contributed to their promotion.

How did the speaker’s parents influence their personal ethics?

The speaker's parents, particularly through their example of love, kindness, and integrity, instilled a strong moral foundation. Their father’s care for their mother during her struggle with Alzheimer’s exemplified deep personal ethics.

What does the speaker think is important when faced with a tough decision in business?

The speaker believes that tough decisions should be guided by fairness, transparency, and accountability. They often ask themselves if the way they're handling a situation is something they could defend to their family.

How does the speaker describe ethical leadership in a business context?

Ethical leadership involves being honest, fair, and open in dealing with others. It also requires setting a good example, taking accountability for decisions, and maintaining personal integrity, even in difficult situations.

What influence did Al, the speaker’s former CFO, have on them?

Al was a mentor who demonstrated trustworthiness, professionalism, and ethical behavior, all while managing volatile situations with grace. The speaker admired Al’s ability to maintain integrity and wanted to emulate those traits.

How does the speaker believe companies should respond to tough financial realities?

The speaker acknowledges that hard decisions, like cutting expenses or staff, sometimes need to be made. However, they emphasize the importance of treating people with dignity and being transparent in reasoning to maintain ethical standards.

What role do personal ethics play in navigating technological challenges in business, according to the speaker?

The speaker believes that with advancing technologies, companies must be led by individuals with strong personal ethics to govern how data is used, protect personal information, and handle the complexities of automation ethically.

Outlines

00:00

🧐 Finding a Wallet and Ethical Decision-Making

The narrator describes finding a wallet while walking through a condo complex and facing an ethical dilemma on what to do. Rather than leaving it or placing it in a more visible spot, they called the local police to ensure its return. This incident leads them to reflect on the golden rule of doing what they'd want others to do in their place. They expand this ethical consideration by discussing how they and their husband, as parents, chose not to lie about their children's age at a ski resort, reinforcing values of honesty for their children.

05:00

🤔 Ethics Beyond Rules and Regulations

The narrator, a CPA and CEO, reflects on how their professional ethics align with their personal morals. They acknowledge that ethics often go beyond formal rules or guidelines, involving personal values and integrity. They cite examples of adhering to professional conduct codes in accounting but stress that ethics also shape everyday decision-making. Even in the business world, where rules may not always apply, personal ethics guide actions, ensuring that choices are made with fairness, honesty, and respect. They note that being a 'rule-follower' contributed to their rise to CEO, despite stereotypes about corporate leaders.

10:03

🛠 Personal Ethics and Influences from Early Life

The narrator credits their parents and upbringing for shaping their personal ethics. Their parents modeled ethical behavior—humility, kindness, and responsibility—which later became their moral compass. They also reflect on the broader influence of mentors and role models throughout their life, from teachers and coaches to professional colleagues. They emphasize the importance of integrity, transparency, and authenticity in business, and how they strive to emulate the ethical leadership qualities they admired in others.

15:04

💼 Ethics in the Business World and Tough Decisions

In the business world, the narrator discusses how personal ethics are essential in decision-making, especially during tough situations. They emphasize the importance of treating people with dignity, even when making hard business decisions such as layoffs or budget cuts. Transparency and fairness are key in building trust, and ethical executives must balance difficult choices with respect for those affected. The narrator shares their experience as a CEO, navigating a company’s challenging transitions while trying to prioritize ethical actions and accountability.

Keywords

💡Personal Ethics

Personal ethics refer to an individual's moral principles and values that guide their behavior in everyday situations. In the video, the speaker discusses how personal ethics, shaped by upbringing and life experiences, influence decisions like returning a lost wallet or being honest about ski tickets. The speaker emphasizes that these principles guide actions, especially in situations where there are no explicit rules.

💡Golden Rule

The Golden Rule is the ethical principle of treating others as one would like to be treated. The speaker highlights this as a guiding principle in their decision-making process, especially when considering actions such as returning a lost wallet. It embodies empathy and reciprocity, encouraging people to act in ways that would benefit both themselves and others in a similar situation.

💡Integrity

Integrity involves honesty, transparency, and consistently adhering to ethical principles, even when it is difficult or inconvenient. In the video, the speaker explains how integrity plays a crucial role in their career, from their time as CFO to becoming a CEO. They stress that acting with integrity means making decisions that can be justified and defended, whether to one's family or in a business context.

💡Role Models

Role models are individuals whose behavior, values, or achievements are emulated by others. The speaker discusses how their personal and professional ethics were influenced by role models such as their parents, teachers, and mentors like 'Al,' a trustworthy and competent CFO. These role models shaped the speaker's ethical framework and approach to leadership.

💡Ethical Leadership

Ethical leadership refers to leading an organization by prioritizing ethical behavior and setting a tone that fosters integrity and fairness. The speaker highlights that ethical leadership starts at the top, and they consider themselves an ethical executive who strives to treat employees and customers with dignity. They argue that good leadership involves making tough decisions but doing so ethically and transparently.

💡Professional Ethics

Professional ethics are the formal guidelines that govern the behavior of individuals within a specific profession. As a CPA, the speaker adheres to a code of professional conduct and must take an ethics course to maintain their license. They explain that in professions like accounting, rules and ethics ensure trust and reliability in financial reporting and decision-making.

💡Accountability

Accountability means being responsible for one's actions and decisions, both the successes and failures. The speaker mentions that being accountable is essential in business and personal ethics. They give examples of how they expect themselves and others to own up to their actions, ensuring that they can be held responsible for the outcomes, whether good or bad.

💡Ethical Companies

Ethical companies are organizations that prioritize ethical practices in their operations, employee treatment, customer relations, and environmental impact. The speaker discusses characteristics of ethical companies, such as transparency, fair treatment of employees, and taking responsibility for mistakes. They also point out that ethical companies create environments where employees are proud to work.

💡Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) refers to a company’s commitment to operate in a way that benefits society, the environment, and the economy. The speaker notes that companies are now expected to report on their environmental, social, and governance (ESG) policies, and they hope this trend is not just public relations but reflects genuine ethical priorities. CSR is discussed in the context of ethical business practices that go beyond profit generation.

💡Moral Compass

A moral compass is an internal guide that helps individuals determine right from wrong based on personal ethics and values. The speaker uses the concept to explain how they navigate difficult decisions by considering their upbringing, role models, and personal values. In situations with no clear rules, the speaker relies on their moral compass to make ethical decisions.

Highlights

The speaker debates whether to move a wallet they found to a safe spot or call the police.

The speaker ultimately decides to call the local police, hoping the wallet would be returned to its owner.

The speaker reflects on how personal ethics guide their daily decisions, including situations with no clear rules.

A moral dilemma arises when considering whether to lie about their children's age for ski ticket discounts, but the speaker chooses to set a positive example.

The speaker emphasizes that it's the parents' responsibility to teach their children honesty and integrity through actions.

They acknowledge past mistakes, but overall aim to follow the rules and do the right thing based on personal ethics.

The speaker shares that they are a CPA and highlights how rules in accounting, such as debits equaling credits, appeal to them.

The importance of personal ethics, beyond just professional codes of conduct, is highlighted as a key guiding principle.

The speaker recalls how their upbringing, especially their parents' strong moral compass, shaped their personal ethics.

The speaker references their father’s care for their mother during her battle with Alzheimer’s as an example of personal ethics in action.

They describe how mentors, like their former CFO, had a lasting impact on their personal and professional ethics.

The speaker advocates for ethical leadership, noting that treating people with dignity during tough business decisions is crucial.

The speaker discusses the importance of a company culture where ethics are practiced from the top down.

They reflect on the notion that people will leave companies if their values don't align with the company’s practices.

The speaker highlights that corporate responsibility now includes delivering value to customers, investing in the workforce, and supporting communities, beyond just generating shareholder value.

Transcripts

a few weeks ago I was walking the dog

through the condo complex near my home

and the parking spots were pretty empty

and I looked down and saw a wallet in

the middle of one I debated what to do

should I move the wallet to a safe spot

so that if the owner came back to get it

they could find it I might have done

that if it was a mitten or a scarf but

this was a wallet it was 10:30 in the

morning so the person probably wasn't

coming back anytime soon and what if

someone else saw the wallet and decided

to take it I picked it up I could see

there was a license inside and I didn't

recognize the name or the face and the

address was over an hour away from where

I was so I did what I'd want someone to

do if they found my wallet in a parking

spot I called the local police and they

sent two officers out to get it I don't

know what happened but I'm hoping that

the wallet got back to its owner safely

and that she was pretty relieved it

seems kind of simple but would everyone

have made that same choice do you use

that question otherwise known as the

golden rule to govern your actions what

would I want someone to do if the

situation was reversed now what about

the situation where there's not a person

on the other side my husband and I have

two kids ones in college ones in high

school they've been skiing since they

were three and where we ski kids ski

free until they're seven and then

there's a children's ticket from seven

to twelve and once you turn 13 you have

to pay the full adult price I'm sure a

lot of parents pretended that their kids

are under 7 or under 13 it's not a big

it's a big price difference but we

didn't why well what kind of example

would we have been setting for our kids

who could plainly see on their lift

ticket what age bracket we bought even

when they were under 7 they got a ticket

that said that maybe the ski resort

wasn't watching closely but our kids

were and this was a

moment be honest don't steal it's our

job as parents to teach our kids to do

the right thing now I'm not perfect I

look back on plenty of situations and

cringe maybe I didn't treat someone the

right way or didn't handle a situation

very well but on the whole I try to

follow the rules and when there are no

rules I try to do the right thing

understanding that doing the right thing

can be a matter of opinion so how many

of you are wolf followers I'm a CPA by

training good to see that and there are

a lot of rules that govern my profession

I graduated here from Fairfield and even

just the fact that debits have to equal

credits is a rule that we all embrace

and maybe why we like being accountants

we like the things balance we have a

code of professional conduct for CPAs

and in Connecticut to maintain my

license I have to take an ethics course

every three years and most professions

have some sort of codified professional

ethics to govern them and they can come

in handy but when I think of ethics I

think beyond published guidelines I

think about personal ethics what guides

us on a day-to-day basis to do the right

thing treat people the right way because

on a daily basis we're faced with

situations like the ones I just

described well there's no law there's no

regulation that's gonna tell us what we

have to do and all we have to rely on is

our own sense of personal ethics our

moral compass

a few years ago after I made a

light-hearted comment about being a rule

follower someone said to me you don't

get to be where you are by following the

rules I was kind of taken aback at the

time I was the fairly newly promoted CEO

of a private company after having been a

CFO for about nine years and in my

opinion the fact that I was a rule

follower by Nature

is exactly why I was promoted to CEO our

investors trusted me to lead the company

through a pretty difficult transitional

time but this person who had only just

met me

had a preconceived notion of my ethics

based solely on the fact that I was a

member of the c-suite Wow

I get it sort of how many headlines do

we see about executives having to step

down from their posts for bad behavior

about Rockstar CEOs that we later find

out were treating employees badly having

improper relationships spending

personally on lavishly on personal items

supported by boards who look the other

way because the CEO got financial

results or stories of outright

corruption like Enron WorldCom fairness

people who did bad things hoping no one

was watching and they wouldn't get

caught so where do personal ethics come

from in my case they came first and

foremost from my parents my dad was an

engineer my mom was a home acti Chur and

they were what you would call really

good people i had a privileged

upbringing in my family there was a lot

of love there was a lot of forgiveness

we went to church on Sundays another

place that helped for my moral compass

and we were taught to be humble and

grateful and kind my dad traveled a lot

for business which left most of the

day-to-day raising of five kids to my

mom later in life when my mom was

suffering from Alzheimer's my dad took

care of her at home as long as he safely

could and then he visited her everyday

once he had to make the decision to put

her into a care facility his personal

ethics told him that this was the least

he could do for this woman who he loved

and who had provided so much care for

him and to our family over the years

these are the people who raised me but I

think personal ethics come from a

variety of sources during our formative

years parents grandparents other family

members close friends teachers coaches

religious organizations scouting

organizations schools really almost

everyone we come in

tact with during those years has some

sort of influence on our personal ethics

either as a role model of something to

follow or maybe just as importantly

something not to be so how does this

play out in the business world when

asked what some of the hallmarks are in

my career I said I hope that people

would say that I act with integrity and

to me that means being open and honest

dealing fairly with people being

authentic and accountable for the good

and the bad and encouraging others to do

the same after working for an internet

for a public accounting firm I joined

one of my clients as their controller I

really enjoy the entrepreneurial

environment of that client and I

respected the CFO I'd be working for and

I feel like I really grew up

professionally at that company and al

the CFO had a big influence as my

personal and professional ethics

continued to develop al was smart he was

trustworthy and he was able to navigate

some pretty volatile personalities in a

professional manner people respect it

out and listened when he had something

to say al was and is a good person

whether or not anyone was watching I was

watching and I was learning and I wanted

to be like Al I've also had some other

great mentors over the years some with

whom I've worked and others that I just

have known for years people who will

have coffee or lunch with me and just

talk things through and these people who

are both successful and ethical are

great sounding boards and give me

something to strive for on a daily basis

so what do you do when you're faced with

a tough decision or a tough situation I

found out the hard way that everyone's

motivations aren't necessarily ethical

either in business or in life and I've

had to deal with some not-so-nice people

and keep it professional

so when I

faced with a tough situation I think to

myself is the way I'm handling this or

the decision I'm making something I

could defend first it was to my parents

and now to my husband or my kids and if

there's a person on the other side I go

back to that old standard how would I

want to be treated if the roles were

reversed I don't make the right

decisions all the time and I know I

don't please everybody all the time but

I do my best and I try to do no harm

which I'm told is the baseline of ethics

and better yet I try to do good so we're

the headlines about the people who do

the right thing day in and day out or

treat people the right way well who

wants to read the headline about the CFO

who chose the right accounting policies

or didn't manipulate the quarterly

earnings yay but I think those people

are a little bit more than Noren than

what we read about in the headlines now

being an ethical executive doesn't mean

you're always making the popular

decisions and doesn't mean you're a

pushover in negotiations you have a

responsibility to your organization and

you have to deal with financial

realities sometimes that means taking a

hard line in negotiations it might mean

cutting expenses or even staff where the

ethics comes in is how you implement

those decisions what a difference it can

make if you treat the people on the

other side with dignity I've always

found that tough conversations can go

better if the person on the other side

has a window into my reasoning or at

least knows I'm being straight with them

it doesn't mean they always go well but

hopefully better than they would

otherwise and losing a job is

devastating no matter what the

circumstances so what a company or

person does to help soften the blow and

help that employee move on goes a long

way on the morality scale when I took

over as CEO

we had just sold most of our ongoing

operations to another company and our

former president had joined that company

to lead the division we both felt a huge

responsibility to our team and worked

together to find most

people a spa at one of our corporations

so what does it take to make a company's

culture ethical there's no question that

the tone is set at the top ethical

people like to work at ethical companies

and follow ethical leaders most of the

people I've worked with over the years

really like producing a good work

product they like having good

relationships with their customers and

they like to be proud of the

organization that they're part of and

I've known people who will leave

organizations whose methods of doing

business or values don't align with

theirs I've done that I don't mean that

a company I worked for ever broke the

law or violating any regulations but

maybe I would have handled certain

situations differently or declined to

work on certain clients at the choice of

in mine alone and as my husband says you

can complain about the people you work

for for a little bit but if you stay at

some point you become them and so I

chose to leave so what companies do you

think of when you hear the words ethical

company it's easy to think of those who

donate a certain amount of their profits

to charities those who support their

communities financially and through

volunteerism those that are leading the

way in decreasing their carbon footprint

but not all companies can afford to do

these things in a material way so what

are some of the other signs of ethical

companies how do they treat their

employees and their customers are they

transparent in their communications and

operations do they take ownership when

they make mistakes what are they doing

when no one's watching or there are no

rules to follow the tide seems to be

changing and boards are no longer

supporting bad behavior executives are

having to step down for ethical reasons

not just for poor financial results

activist investors are holding public

companies responsible making sure they

have independent and diverse views on

their board and also making sure that

executive

making the right decisions companies now

have to report on their environmental

social and governance policies the

Business Roundtable which is a group of

almost 200 US companies CEOs put out a

paper a couple a couple of months ago

with a new definition of a purpose of a

corporation no longer is generating

shareholder value the only priority

higher on the list we're delivering

value to their customers investing in

their workforce dealing fairly and

ethically with their suppliers

supporting the communities in which they

work and last came generating

shareholder value now some of this is a

little bit circular because in order to

do well financially you have to deliver

value to your customers and invest in

your workforce and in order to support

the communities in which you work you

have to have the resources to do that

but the point is made all of these

should be priorities I hope it's not

just PR and I hope boards and governance

and compensation policies support all of

these priorities because in reality how

we compensate people is going to drive

behavior

today's theme is innovation and

inspiration with the evolution of

technology companies of all sizes are

waiting into uncharted waters there are

a few rules and those that exist have to

be continually updated to keep pace with

advancing technology companies have

access to an enormous amount of

information about us the stories coming

out recently about how some of those

companies have used and profited off of

our personal information are unsettling

what code of ethics were those

executives following AI and robotics

implementations compose even more

challenging ethical considerations as

the process is concurrently done by

humans are automated so in my opinion

it's more important than ever that

companies our staff from the top down of

people with strong personal ethics

people who can put in place policies to

govern how the company will implement

technology and protect personal

information and help their employees

deal with the changes that automation

will

ringg people who will act ethically and

mentor others to do the same who can put

in place controls and rules were none

currently exist people who will do the

right thing even when no one is watching

thank you

[Applause]

you