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305: How To Be An Ethical Executive
Episode 30521st February 2023 • Terminal Value • Doug Utberg
00:00:00 00:04:28

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Today's episode is a quick-hit solo recording with Doug where he talks about the characteristics of ethical executives and how to become one yourself.

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Transcripts

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Have you ever read the newsfeeds and seen stories about

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executives at big companies who are paying themselves enormous bonuses

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while in the middle of layoffs?

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Have you ever felt like this was fundamentally unethical?

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Have you ever wondered whether there's anybody at all in these big corporations

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who have a soul and a sense of ethics?

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The short answer to that question is yes, of course there are.

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Unfortunately, you don't hear about many of them on the news, but they exist

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the longer answer to that question.

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Is that developing a sense of ethics and implementing it as an executive leader is

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something that doesn't happen on accident.

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Before we get going a little bit of introduction.

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This podcast exists for one purpose, and that is to bring founders

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and CFOs the tools they need to increase profits without layoffs.

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I am the host Doug Berg, and you are listening to the terminal value podcast.

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This episode is going to be what I like to call a quick hit episode

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where it will only be me And we'll be here for about five minutes.

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looking back on my own.

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I spent approximately 20 years in the tech sector, mostly in finance,

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but also in information technology.

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And one of the things that I've found is that in a lot of cases

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when people transitioned from an individual contributor into

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management, at some point they start to see that the way they will ascend.

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Into the higher realms of management is based on the perception of

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the people who are above them.

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So what can happen is people become more concerned with managing their appearance

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than with creating value for the company.

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And that is where a lot of the problems have come from.

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In the context of business ethics is particularly important as it sets

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the tone for how companies perceived by stakeholders and influences

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the behaviors of its employees.

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All of us have encountered people in positions of authority who are

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primarily focused on themselves and their career instead of creating

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value for their stakeholders.

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Some of this is done overtly through self-centered actions, and others do it

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quietly by mailing it in and spending their days managing email and attending

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meetings, but never delivering real.

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An ethical executive is a leader who not only knows the right thing to

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do, but also has the courage to do it even when it's difficult or unpopular.

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There are five characteristics of an ethical executive.

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Number one, integrity.

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Ethical executives have a strong personal set of values and principles

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that guide their decision making.

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They're transparent in their actions and communicate honestly

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with their stakeholders.

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Their actions create value for both the company they work for

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and the people who work for them.

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Number two, responsibility.

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Ethical executives take responsibility for their actions and decisions, and they

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ensure that their employees do the same.

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They understand that their leadership role comes with a

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certain level of accountability.

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Number three, empathy.

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Ethical executives are able to put themselves in other people's

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shoes and understand the impacts of their actions on those other.

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They consider the wellbeing of their employees', customers,

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and other stakeholders.

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Number four, fairness.

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Ethical executives make decisions that are fair and just, and they

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ensure that the parties involved are all treated equitably.

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They avoid conflicts of interest and do not take advantage

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of their position of power.

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And

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number five, courage.

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Ethical executives have the courage to stand up for what they believe is

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right, even in the face of opposition.

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They make decisions based on their values and principles

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rather than fear or personal.

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In the end, an ethical executive is a leader who not only knows what is right,

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but also has the courage to do it.

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They exhibit integrity, responsibility, empathy, fairness, and courage, and they

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set an example for others to follow.

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Companies with ethical leaders tend to have a positive reputation, loyal

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employees, and satisfied customers, which ultimately contributes

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to their long-term success.

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Thank you for listening to today's episode.

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If you haven't subscribed, please go ahead and subscribe in the app that

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you're using right now and visit us on terminal value podcast.com where you

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can leave a review and you can see all the other episodes that are available.

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at facebook.com/terminal value and leave a comment letting me know

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how you like this episode format.

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And also let me know what do you want to see in the future so that I can

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create the right content for you.

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I hope you have a wonderful day and I'll talk to you again soon.

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