Ethics and decision making in business

Ethical Decision Making is the processes of choosing the best alternative for achieving the best results or outcomes compliance with individual and social values, moral, and regulations.

Ethics and decision making in business

Deontological based on study of moral obligation Theological Principle-based As well as others The good news is that, in general, most approaches will lead to similar choices for most decisions involving ethics.

There are obvious and sometimes notable exceptions, but these often involve ethical dilemmas that can only be addressed in the context of the specific decision being made.

Ethics in decision making impacts the choices for words and actions In confining ethical decision making to a business or group context, decisions on ethics are necessarily limited to actions and words e.

Per our distinction, thoughts and beliefs e. Clearly our thoughts affect our words and deeds, and in a group context, ethics in decision making can be evaluated through the tangible evidence and outcomes from words and actions.

Again, thoughts and motivation are left to the personal realm. As a consequence, evaluation of appropriate ethical behavior will have limitations. In all outcomes there are the following possibilities: Right motivation with right action Right motivation with wrong action Wrong motivation with right action Wrong motivation with wrong action Given the difficulty in exposing true motivation, ethical assessments will inherently be limited to an evaluation emphasis on action or outcome.

Ethics and decision making in business

Will an immoral person make an ethical decision or a moral person make an unethical decision? This will be reflected in their ethics in decision making decisions made in the business context.

Expect this to be the greatest source of dilemmas in ethics and decision making in an organizational context.

Ethics in Decision Making

How do we incorporate ethics in decision making using our decision making process? Addressing ethics in decision making in business or other large organizations or groups e. This focusing decision can influence criteria for decisions throughout the network of business decisions the decisions in bluedirectly influencing ethical decision making and organizational conduct.

Additional related decisions include choosing the business mission and the code of conduct that will add compliance criteria to decisions across the business decision network. Here are some criteria that can help ensure appropriate ethical considerations are part of the decisions being made in the organization: Does it meet should exceed legal requirements?

Promote good and reduce harm - What solution will be good to the most people while minimizing any possible harm? Responsibility - What alternative provides the most responsible response? Does the solution ensure meeting our duties as a good corporate citizen?

Promotes trust - Does the solution lead to honest and open communication? Is there full disclosure? Builds reputation - Would a headline of your decision generate pride or shame?

Does your solution add to or detract with the identity you want for the organization? When is the best time to address personal morals versus organization ethics? Agreement to join the company implicitly assumes that this reconciliation has taken place, but it can be made explicit by requiring agreement to a code of conduct.Medical ethics is a system of moral principles that apply values to the practice of clinical medicine and in scientific research.

Medical ethics is based on a set of values that professionals can refer to in the case of any confusion or conflict. These values include the respect for autonomy, non-maleficence, beneficence, and justice.

Such tenets may allow doctors, care providers, and families. Facts. Decision making in business ethics usually requires companies to identify specific ethical standards, which often means different things to different people. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business timberdesignmag.com applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

These ethics originate from individuals, organizational statements or. Business Ethics- Ethical Decision Making & Cases (8th, 11) by Ferrell, O C - Fraedrich, John - Ferrell [Paperback ()] Paperback – out of 5 stars customer reviews See all 5 formats and editions Hide other formats and editions4/5().

Bundle: Business Ethics: Ethical Decision Making & Cases, Loose-leaf Version, 12th + MindTap Management, 1 term (6 months) Printed Access Card Feb 5, by O. C.

Ethics and decision making in business

Ferrell and John Fraedrich. Business Ethics Best Practices Course Summary. In today’s competitive world, ethical behavior may at times seem secondary to more pressing business and personal goals.

Business Ethics: Ethical Decision Making | Bizfluent