November 2005

ith the recent Enron scandal opening our eyes to corruption at the corporate level, the importance of ethics and integrity in business is at the forefront of America’s awareness. We hear the words “ethics” and “integrity” a lot, but what, exactly, do they mean?

Ethics are a set of principles of right conduct. Integrity is the strict adherence to this set of principles, which does not waiver depending on the circumstances. For businesses and individuals to operate at their fullest potential, both ethics and integrity need to be solidly in place.

Peter Koestenbaum, author of The Philosophic Consultant: Revolutionizing Organizations With Ideas, warns that American business is in the midst of a crisis situation.

“I would go so far as to predict that most new businesses and entrepreneurs who do not have a solid ethical foundation will fail within five years,” he writes. “Conversely, those who do behave ethically will thrive, both financially and in other ways. Every conscientious businessperson should make it a priority to explore what ethical behavior is, and how he or she can make ethical decisions.”

So how do you introduce, or reinforce, the importance of ethics and integrity in your own business or in the professional environment in which you work?

It’s no secret—whether you’re in a corporation or running your own business—that we’re all working to achieve the same common goal: to make money. But profit motive doesn’t need to overshadow the truth that, ultimately, business is about service. Service means making your clients’ needs as important as your desire to increase profits. And why should the focus be on service? It’s simple: without service, you have no clients.

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