(Franklin Delano Roosevelt as cited in Godwin, 2008; Good Money & Quotes, 2010)
Business Industry has witnessed the outcomes of bad moral decisions taken by business leaders. Enron’s story is only one example of corporate scandals and cases of bad moral decisions, which has not only shaken the public trust in corporations, but also affected the bank accounts of investors and employees. Before the bankruptcy of Enron; it was included in one of the fortune 500 companies after its fraudulent accounting case the share went down to $1 (Enron scandal, 2010; PBS, 2002; Godwin, 2006; Godwin, 2008).
The “bad apples” which create fraudulent are now facing prison terms, they are not morally bad character people they just face this because of their limited conceptual schema and don’t consider moral values while making decisions. Mostly managers are known for moral values, and they are not greedy and egoists, the underlying issue is that they have narrow perspective on a particular situation so they don’t view the moral consequences of their decisions. They actually lack the ability to imagine a range of possible issues, consequences and solutions. So just because of their shorter insight they make wrong moral decisions which later give undesirable impacts to society and business as well (Godwin, 2006, Godwin, 2008; Werhane and Moriarty, 2009).
Business Industry has also witnessed some business leaders who have taken such a good moral decisions that result in mutual benefit to the company and wider society. Literature shows different instances of companies like Seventh Generation, Fuji Xerox, or Green Mountain ...
... middle of paper ...
...Werhane, P.H., Dunham, L. (2002) ‘Moral
Imagination: A Bridge between ethics and entrepreneurship’ [Online]. Available at:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=252654 (Accessed: 06 March 2010).
 Werhane, P.H. (2006) ‘Access, Responsibility, and Funding: A Systems Thinking Approach to Universal Access to Oral Health’, Journal of Dental Education, vol. 70, no. 11, pp. 1184-1195.
 Werhane, P.H., Moriarty, B. (2009) ‘Moral
Imagination and Management Decision-making’ [Online]. Available at:
http://www.corporateethics.org/pdf/moral_imagination.pdf (Accessed: 06 March 2010).
 Yashiro, K., Yoshida, T., Suzuki, Y. (no date) ‘Training on Corporate Social Responsibility in Japanese Companies: Based on a Survey’
 Young, G. (2008) ‘Advisory Panel and Committees’, Encyclopedia of Business ethics and society, vol. 5, no. 1.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
Ethics And Business Management : A Case Of Running Business Without Negative Effect On The Immediate Environment
- Ethics in business Ethics in business surround the dynamics of running business without negative effect on the immediate environment (internal and external). The management should always observe limits when dealing with their working environment and steer clear of any obstacles in the situations arising with time. Any handling of the dynamics of business will rely heavily on the ability of management to identify issues before maturity, and making attempts to eliminate threat to the business using acceptable means.... [tags: Management, Business ethics, Decision making]
2052 words (5.9 pages)
- Ability to identify environmental impacts/risks and develop measures to enhance the benefits and to minimise the risks Environmental impacts and risks must be identified and management to enable the best outcomes through mitigation and exploitation of any opportunities. A forestry restoration plan is an ideal example of this. Much of land has been is farmland where it was previously indigenous forest. An adverse impact of this has been the lack of riparian buffer zones around waterways. This poses risks to water quality, which is important for both biodiversity and recreation.... [tags: Decision making, Ethics, Management]
1080 words (3.1 pages)
- In the day to day running of any business, managers are confronted with numerous ethical dilemmas whose solution requires critical review. Specifically, the situations presented in the two scenarios revolve around the examination of individual issues based on the conduct of behavior of particular individuals in the company (Schermerhorn, 2012). Expounding upon our ethics assignment in the first week, Kay Smith expresses her desire to apply for a position in a different business division. The main challenge is in the fact that current business division has implemented cost saving measure putting it in a difficult position in terms of replacements.... [tags: Decision making, Management, Ethics, ManaGeR]
1041 words (3 pages)
- Proper management remains key to the success of any business-this is regardless of its size and so the number of customers it serves. Those business that have gone global are not in this line left out, and so there large scale of operations demand ,that is if they are to stay operational, a better management approach. Most successful multinational corporation like the East India Company and IBM have had better management to see the standards maintained over the years of there existence. It is the managements’ role to see smooth running of such companies located far away from another- timely directives on how the operations should be carried out to at the same time make profit ,maintain th... [tags: Business ethics, Management, Decision making]
833 words (2.4 pages)
- FACTS: Luke has been assigned a confidential project, by ABC, to build an adult entertainment retail store on a new plot of land. However, in a month, the announcement of this project will result in lower property values for the residents in the surrounding neighborhood – where Luke’s brother, Owen, resides. Owen tells Luke that he has received an offer to sell his house, but debates whether or not to wait for a better offer in the near future1. ISSUE: In this scenario, Luke is conflicted with maintaining the trust of his employers or helping a close family member by revealing details of the project.... [tags: Ethics, Decision making, Project management]
1750 words (5 pages)
- Organizational culture is key to fostering ethical decision making. The first step in creating an ethical climate is for managers, especially top managers, to act ethical themselves. The second step in establishing an ethical climate is for top managers to be active in and committed to the company ethics program themselves. Managers who consistently talk about the importance of ethics and back up that talk by participating in their companies’ ethics programs send the clear message that ethics matters.... [tags: Ethics, Management, Business ethics, Morality]
719 words (2.1 pages)
- Introduction Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities.... [tags: Ethics, Morality, Virtue, Decision making]
1478 words (4.2 pages)
- Many people have different views of what ethical behavior is. Ethical behavior is defined as “Acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights (Ethical behavior, 2016).” In this paper, I explored ethical decision making with examples. In addition, I discuss how ethical decision making benefits from a Christian worldview.... [tags: Ethics, Business ethics, Management, Morality]
813 words (2.3 pages)
- The first ethical decision-making model is “Identify the Problem.” It is stated in the reading that Forensic psychologists have to keep in mind that there are extensive behaviors that needs to be considered including when reviewing the work of colleagues. There are ideas that need to be discussed among ethical, legal, moral, and professional perspectives. Whereas, these ideas may need to be explain more to clarify the ethical problem at hand. Consider a request by an attorney for a psychologist report to describe the patient’s degree on disability and patient symptom in a posttraumatic stress situation.... [tags: Ethics, Morality, Decision making, Business ethics]
1085 words (3.1 pages)
- An individual's personal, organizational, and cultural values are the foundation of their personal and professional decision-making cycle. These values form the core of that individual's moral fabric, and his actions and decisions are predicated on those beliefs. Shalom H. Schwartz defined values as "conceptions of the desirable that guide the way social actors (e.g. organizational leaders, policy-makers, individual persons) select actions, evaluate people and events, and explain their actions and evaluations" (Schwartz, 1999, pp.... [tags: Ethics Values Management]
1379 words (3.9 pages)