Ethical Considerations in Financial Decision-Making
Ethical considerations in financial decision-making involve evaluating how choices impact various stakeholders beyond just shareholders. While maximizing profit is a primary goal of any business, ethical frameworks challenge us to consider the broader consequences of our actions. Stakeholders include employees, customers, suppliers, the community, and the environment. A decision that boosts short-term profits, like using cheaper, polluting materials, may harm the environment and damage the company's long-term reputation and brand trust.