I was in business school right around the same time the Enron scandal broke out. Cooperate corruption in the media seemed to explode like the waters breaking from a dam. I blame all the two-faced businessmen who made their way onto the nightly news for the reason why ethics was so purposefully beaten into us at school.

When you really think about it, ethics should be a disciple that deserves our attention, especially for those of the business world. After all, if you are in a position of supreme power, like so many scandalous CEO’s, your moral compass should point true.

One area of particular ethical concern is in negotiation. The line between right and wrong can often be hard to find when the pressures on and the stakes are high. How should you go about walking this tightrope of ethical negotiation? Read the following guidelines on negotiation ethics for a start:

Interests of Others

When faced with an ethical dilemma in a negotiation situation the first question you should ask yourself is, “Who and how will my actions affect?” If using questionable tactics in negotiation will have a negative impact on one or more parties, take this time for a detour to explore your next step. It is oaky to take a break during a negotiation if you need time to clear your head to find a better solution.

If you are able, open up and be honest with whom you are negotiating. Share your dilemma and work together to find a resolution. Sometimes candor can be the best way to create win-win solutions.

Relationship Value

If you have an established trust with the other side of the negotiation table, the rules of the game change. When negotiating with a stranger, such as when buying a car, it is expected that you may use more harsh tactics to get what you want. If on the other hand you are negotiating with someone whose relationship you value, like a friend or family member, you should respect that trust and be clear about your intentions from the get-go. If you ignore these unspoken rules, you could end up loosing a lot more than the negotiation.

Ethics Gap

An ethical gap is the point at which you question what is right and wrong. Take into consideration what was previously discussed, the interest of others and relationship value, when you encounter a situation that is not black and white. I will restate what I mentioned above, a time-out during the negotiation can bring light to the situation.

If you are still unsure about what road to take, consult an associate that you trust and get their thoughts on the matter. The act of taking through the decision making process in itself can often revel the answers you seek.

Your Moral Compass

When all else fails, listen to you inner conscious. Everyone has variations of what they consider to be ethical, but this innate moral compass is universal in all of humanity. Whether or not we choose to listen to the angel, or the devil, in us is another story…

Note of Irony: When researching for this article I came across a website selling term papers on Ethical Negotiation to college students. Talk about hypocrisy at its core!