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Ethical standards govern the existence of human life and encompass the realm of business entities. The seven habits of strong ethical leaders are presented by Ferrell, Fraedrich & Ferrell is applicable in personal scenarios as well as in business organizations. Business problems are solved by utilizing collaborative and participative approaches to decision making with ingrained habits of strong ethical leaders. From among the seven habits, five are hereby proffered.
Ethical leaders possess strong personal character. Leaders are concerned with the creation of an environment for performance. They integrate tasks, structure, technology, resources, and people into a productive configuration. They achieve goals through the efforts of other people. They have to influence the behavior of other people in order to get things done.
They have the passion to do right. Ethical leaders value honesty and integrity. Honest and integrity means being straightforward and firm in adherence to an ethical code of conduct. Honesty is specifically critical in terms of conforming to truthfulness in financial matters and in doing one’s responsibilities, as expected in the organization. Ethical leaders have the integrity to adhere to the policy of financial accuracy in disclosing the truth in financial reporting. Both values must be deeply ingrained in one’s personality to form part of the individual’s philosophy in life.
Being proctive takes vision to look forward. Ethical leaders take charge and are accountable for one’s own destiny as well as those of his followers. Leaders who are proactive make strategic decisions based on creative plans for the future and being governed by a standard set of ethical codes.
Ethical leaders do not hide anything and are transparent in their actions. They are also actively involved in decision making process. Equipped with values of honesty and integrity,
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