Travis Makes Money 753: J.S. Nelson | Business Ethics: What Everyone Needs to Know
Every business owner or entrepreneur needs to understand the impact that ethical behavior has on their brand and their ability to attract and retain customers. In today’s episode, J.S. Nelson, a Visiting Associate Prof. at Harvard Business School and the author of Business Ethics: What Everyone Needs to Know, talks about what entrepreneurs should know about ethics, and how our innate moral intuitions can be powerful tools for making ethical decisions. She explains why we need to do a better job of educating people about ethics and the basics of business ethics. Pay close attention to J.S. Nelson's outlook on how to build a company culture that is ethical and supportive. Tune in and dive into how ethical behavior impacts everything from our physical health to our cognitive health and our relationships!
Key Highlights:
[00:01 - 10:00] Opening Segment
J.S. Nelson shares her background and work
An overview of what business ethics is
Why ethics is something that has to be managed
[10:11 - 21:10] How to Build Ethical Cultures
Millennials are sensitive to hypocrisy, and will quickly leave a company if it is not ethical
Companies often go off the cliff because of self-destructive behavior
The importance of investing in employees and creating a company culture that is ethical and supportive
You should provide feedback that is constructive and unbiased to create a positive and safe environment
[21:11 - 34:11] Trust the Baseline of What You Have Been Given By The Society
How managers should give feedback to employees
How people can audit themselves to make sure they have figured out what they stand for and what is and isn't okay within their culture
How cheating is perceived by the vast majority of the population
[34:12 - 42:49] We Need Ethical People in Organizations
The reason why J.S. Nelson thinks people need to be promoted within organizations in order to be ethical
People need to own their work and put their ethics above any other considerations
The ways working from home environment can have a positive or negative effect on ethics
[42:50 - 45:50] Closing Segment
Want to connect with J.S. Nelson? You can follow her on LinkedIn, and Twitter.
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Resources Mentioned
Corruptible: Who Gets Power and How It Changes Us - Brian Klaas
Tweetable Quotes:
"Business ethics is everyone's problem and everyone's feeling and everyone should own it. “ - J.S. Nelson
"Acting on your ethics and being an ethical person is something that resonates for so many people in so many contexts. So this is really worthwhile this is part of the secret sauce of doing business." - J.S. Nelson
"Being more creative and thinking about building for the long term and for something that you would be proud of. It's incredibly powerful ." - J.S. Nelson
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