I was told recently that some believe a person's character doesn't really matter so much anymore.  It made me wonder why they would feel that way.  Whether or not character is important is certainly discussed often in the media.  If there is rampant cheating at a university or crooked dealings by someone, it makes the hourly news and the newspaper headlines.  Why did they do it?  The public wants to know.  Apparently, someone of bad character thought cheating or being a crook was acceptable, and the media was ready to report all the juicy details.

At least at some point character must have been important, because it is one of the five "C's" of credit -- one part of a fundamental assessment of whether or not money loaned to an individual or company would be repaid.  I believe those of us that have been around a few winters have an opinion as to whether or not it is important.  Personally, I would be uneasy making a loan to someone of questionable character even if capacity, capital, collateral and conditions all looked favorable.

So, does character only matter if you lend money?  Obviously that isn’t the case.  Every business owner, corporate officer or supervisor should be concerned with the character of those they hire -- employees AND vendors.  When people face a decision, they will make it based upon their character, their very nature.

Something else I heard recently, in essence, was that character is caught not taught.  We learn it in our formative years by observing others - parents, teachers, mentors and friends, whether good or bad.  In those early years, someone may hear arguments for situational ethics.  It all depends upon the circumstances.  Later in life, an employee may justify embezzling funds because they felt they weren't paid enough and the boss was just being greedy. To them, it only seemed fair.  Situational justification had become a part of that person’s core values.  Good character isn't something we learn as an adult from reading a checklist or from studying a few easy lessons. It isn't like throwing an on/off switch. It is at the core of who we are. 
As far as financial matters of a company are concerned, business owners have the right to expect their CFO, staff and any business advisors to be of good character. That will help them sleep better at night.