May Meeting Recap

Business Ethics
In the Purchaser/Seller Relationship

Every day, we’re confronted with “gray” areas in our business decisions. How do you know if you’re making the right decision, or what if the seemingly “right” decision still feels uncomfortable? We invited Maria C. Rodriguez, Esq., and Tracy Silver, Esq., business and employment lawyers from the firm of Silver & Freedman, to speak at our May meeting and help provide some sound guidelines in tackling business ethics.

From Enron to Martha Stewart, ethics are all over the headlines. Because ethics have played second fiddle to the financial bottom line in the recent past, ethics will continue to be in the limelight for quite some time.

Stripped down, a look at ethics is nothing more than examining dilemmas surrounding good decision making in dynamic situations. For many businesses, the challenge lies in finding ways to balance good business choices and strong values. Often, the drive to be number one places people in an ethical quandary. Successful business and good ethics can work in synergy without conflict.

Laws that deal with price fixing, kick-backs, sexual harassment and discrimination, apply to the printing industry, as well as other industries, while forms of ethical misconduct, such as failing to consider multiple bids, awarding jobs to high bidders, lying to employees and withholding critical information are common in our industry.

A company or business person who is known for having high ethical standards will get more repeat business thus positively affecting the bottom line. It is important to approach every business transaction with an eye toward making good ethical choices. Key questions to ask yourself when confronted with an ethical dilemma:

Is the action legal?
Is it right?
Who will be affected?
Does it fit my company’s values?
How will I feel after I take this contemplated action?
How would it look in the press?
Will it reflect poorly on my company?
Will it reflect poorly on me?

Owners and managers should lead by example to create a higher level of awareness and should consider publishing ethical standards. Many business owners and leaders take for granted that everyone shares their values, but employees can be placed in difficult ethical dilemmas without knowing their company’s ethical codes.

A commitment to high ethical standards is not just a way to stay out of legal trouble, it is a fundamentally sound way of doing business. Bad business practices beget bad publicity, bad reputations and lead to the loss of clients and vendors.

This program just touched the tip of the iceberg and generated a very stimulating discussion, both during and after the meeting. Perhaps we’ll dig deeper into this topic in the future.

A special “thank you” goes to Judy Franklin for preparing the final meeting of the season. We’d love to hear your thoughts about this past year’s programs as well as your ideas for future topics of interest. Be sure to take a minute to complete the Program Committee Survey. Enjoy your summer. We’ll see you in September as we kick-off another fantastic season of programs.