Managerial Ethics In today’s fast paced business world many managers face tough decisions when walking the thin line between what’s legal and what’s socially unacceptable. It is becoming more and more important for organisations to consider many more factors, especially ethically, other than maximising profits in order to be more competitive or even survive in today’s business arena. The first part of this essay will discuss managerial ethics[1] and the relevant concepts and theories that affect ethical decision making, such as the Utilitarian, Individualism, Moral rights approach theories, the social responsibility of organisations to stakeholders and their responses to social demands, with specific reference to a case study presenting an ethical dilemma[2], where Mobil halts product sales to a garage, forcing the garage owner to stop selling solvents to young people. The second section of this essay will focus on advice that should be given to any manager in a similar position to the garage owner with relevance to the organisational strategic management, the corporate objective and the evaluation of corporate social performance by measuring economic, legal, ethical and discretionary responsibilities. It will address whom to think of as stakeholders and why the different aspect could cost more than a manager or an organisation could have imagined. Many managers and organisations make the mistake of assuming that what’s wrong is illegal and what’s legal is right and if it’s legal it must be ethical. Yet many ethical dilemmas present themselves before the decision makers where right and wrong can not be clearly identified. They involve conflict between interactive parts – “the individual against the organisation or the societ... ... middle of paper ... ...rd Freeman, Andrew C. Wicks, Bidhan Parmar (2004). Stakeholder Theory and “The Corporate Objective Revisited”. Vol. 15, No. 3, May–June 2004, pp. 364–369 ----------------------- [1] Ethics is defined as “the code of moral principles and values that governs the behaviour of a person or a group with respect to what is right or wrong” (Samson and Daft, 2005, p.158) [2] An Ethical dilemma is defined as “a situation that arises when all alternative choices or behaviours have been deemed undesirable because of potentially negative ethical consequences, making it difficult to distinguish right from wrong” (Samson and Daft, 2005, p.158) [3] Accommodative response is defined as “a response to social demands in which the organisation accepts – often under pressure social responsibility for its actions to comply with public interest” (Samson and Daft, 2005, p.172)
At times in a person’s life, they might come across a few situations that leave them with a major decision between two or more options that challenge what they believe or what they might think is wrong or right. These are known as ethical dilemmas. Be it seeing a friend steal something and choosing between being honest and speaking up or letting it go. It can also be getting paid more than you earned and deciding if you’re going to be greedy and keep the money or return it. We run into these situations in our lives, some bigger and more influential on our destiny’s while others are small with no real consequences.
An ethical dilemma is defined as a moral issue, where a situation has two equivalent undesirable alternatives and neither choice will resolve the ethical predicament.
Of the many possible ethical dilemmas that people could face in the business world, the article: “The ‘Do Whatever It Takes’ Attitude Gone Wrong” portrays particular ethical situations in todays business world that are very common: poor social responsibility and its negative effects. Social responsibility is considering what affects business decisions and products have on society. The article reveals what goes on behind the scenes at a business in terms of poor ethical decision making and how often it occurs. It mainly focuses on how business decisions are made without consideration
Ethics is defined by as the “branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions
The ethical dilemma is happening everywhere in North America. What is an ethical dilemma? A circumstance in which a troublesome decision must make between the two conflicts, both of which involves transgressing an ethical standard. (en.oxforddictionaries.com) The writer will be elaborating on a situation that is happening in the northern United States. There are two parties involved that could not resolve their case and required the federal government for help in assisting in determining and making the final deception of this dilemma.
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
Ethics refers to a system of moral standards that guide the decision for human conduct of what is right and wrong based on everyday life situations, usually in terms rights, obligations, benefits, fairness, or virtue. Ethics is used as a formal guideline for conducting business in order to minimize pain to the greater number of people as a whole. The principles of ethics come from the knowledge and understanding of the word of God, the Bible. It tells us how we ought to think and behave toward one another considering first, how we want to be treated. For instance, we have the right to freedom of speech as long as we don’t insult the integrity of others. In addition, God gives us examples for how make right decisions and warns of those to avoid. Knowing this, that if we have love in our hearts first, for our heavenly father then we’ll have compassion for our fellow mankind to behave ethically.
There are eight steps in this model, and each step frames and focuses the ethical dilemma in a meaningful way and there are many factors involved in the process. These steps are outlined as follows: (1) Identify the problem or dilemma, (2) Identify the potential issues involved, (3) Review the relevant ethics codes, (4) Know the applicable laws and regulations, (5) Obtain consultation, (6) Consider possible courses of action, (7) Enumerate the consequences of various decisions, and (8) Choose what appears to be the best course of action (Corey, Corey, Corey, & Callaman, 2015). I will apply this model to the case study above as well as expand on the finer points involved in the process in the following
An ethical dilemma is a form of problem facing an individual, which includes complex and often conflicting principles of ethical behaviour. A typical example of an ethical dilemma is a salesman; when selling a certain type of product he may face the dilemma of telling the truth about a product and end up losing a sale and his commission. However, he may feel that being truthful reveals he wants the best for the customers and is being more considerate about them. It all depends on how you deal and understand a situation.
Ethic, how we define them? We can describe ethics as a set of moral principles or values. Laws and set of legal regulations, religious guidelines also the ethical codes for professional and industry groups are the examples of the values and moral principles that are implemented into our lives.
Stakeholders want to be associated with socially responsible companies, and as such expect them to adhere to a certain standard of behaviour in order to gain their trust. Companies are under strong pressure to behave ethically. They have to earn a ‘license to operate’.
Ethics is all about the right or wrong behavior in appropriate circumstances. It depends on certain assumption, such the right behavior of self-rule and the right behavior to life. Ethics are divided into two:
Ethics is a code of thinking and conduct administered by a combination of personal, moral, legal, and social standards of what is
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).