Focusing on Profits? Watch Out For the “Blinder” Effect

By Linda Fisher Thornton

We need money to exchange goods and services, pay bills and grow our businesses. So what’s the problem with it? The problem is that profitability cannot become our defining business goal, and it cannot replace values as the central beacon of our decision-making.

Money has no inherent moral grounding. 

Since it has no inherent moral grounding, we can’t ever let money be the deciding factor in our decision-making. We have to balance the quest for dollars with strong ethical values.  It is this moral grounding that ensures that we will consider how our decisions benefit or harm others. Making profitability a singular goal leaves an organization stuck in self-serving mode.

In self-serving mode, anything that brings in dollars looks good.

A focus on money alone causes leaders to plod on, as if wearing blinders, ignoring unintended consequences and harm.

We can’t put money where morality should be.

Have you ever lived in a house constructed by a builder who saved fifty cents by using a cheaper part, and that “savings” interfered with your enjoyment of your home or cost you major repair problems? How do you feel about food companies that choose the cheapest ingredients without regard to the health impact of the products they sell? The self-serving pursuit of profit doesn’t work in today’s world. People expect much more.

Ethical leaders care for constituents (not just profits). 

Money lacks inherent meaning and ethical values. It is just a token of exchange. It is our responsibility to add the ethical values.

 

Follow the Leading in Context Blog for weekly posts that help you Unleash the Positive Power of Ethical Leadership™

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For more, see 7 Lenses  and the related 21 Question Assessment: How Current is My Message About Ethics?

7 Lenses is a Bronze Axiom Business Book Award Winner in Business Ethics41cEVx-Tu4L._SY344_BO1,204,203,200_
2014  Bronze Axiom Business Book Award Winner 
About 7 Lenses
 
 
Info@LeadinginContext.com  @leadingincontxt  @7Lenses

© 2014 Leading in Context LLC 

About Linda Fisher Thornton
Linda Fisher Thornton is Founder and CEO of Leading in Context, and author of the award-winning book 7 Lenses. She teaches as Adjunct Assoc. Prof. for University of Richmond SPCS. She is leading a movement to help leaders and organizations Unleash the Positive Power of Ethical Leadership.

One Response to Focusing on Profits? Watch Out For the “Blinder” Effect

  1. Pingback: Focusing on Profits? Watch Out For the “Blinder” Effect | HENRY KOTULA

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