While financial decisions can be weighed objectively, unfortunately, there’s no economic model for morally guided decision-making. This becomes even trickier when employees must act as decision-making agents, where they’re more likely to act on personal financial incentive rather than what’s best – morally or financially – for the company as a whole.
This is where instituting a decision-making best practice can be useful. Stephen Schwartz, CEO of Varfaj Partners, referred to it in his company as a “pseudo-Kantian framework for decision-making around the office.” The policy holds certain imperatives, including underpromising and overdelivering, pricing transparency and self-accountability, dictating all decision-making done by team members.
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“While the solutions these imperatives present are intuitive from a moral perspective, ultimately, I have found that this framework has eliminated individual or monetary bias and malevolent business practices with clients,” Schwartz said. “This framework allows for team members to think within a certain value system separate from their own and thereby make decisions holistically that benefit both the company and themselves.