“We have always known that heedless self-interest was bad morals;
We know now that it is also bad economics”
(Franklin Delano Roosevelt as cited in Godwin, 2008)
Business Industry has witnessed that what were the outcomes of bad moral decisions taken by business leader. Enron’s story is only one example of recent 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. (Godwin, 2008)
The “bad apples” which create fraudulent are now facing prison terms, they are not morally bad character people, and they just face this because of their limited conceptual schema and didn’t consider moral values while making decisions. Mostly managers are known for moral values, and they are not greedy and egoists, the dilemma is they have just 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, 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 Coffee Roasters. These companies are getting huge profit margin and are a...
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Hoe, S.L. (2008) ‘Issues And Procedures In Adopting Structural Equation Modeling Technique’, Journal of Applied Quantitative Methods, 20(1), pp. 76-83
Stephenson, M.T., Holbert, R.L., Zimmerman, R.S. (2006) ‘On the Use of Structural Equation Modeling in Health Communication Research’, Health Communication, 20 (2), pp. 159–167.
Mehalik, M.M., Gorman, M.E. (2006) ‘A Framework for Strategic network Design Assessment, Decision Making, and Moral Imagination’, Science, Technology & Human Values, 31, pp. 289-307.
Research Methods: Knowledge Base, (2006) Likert Scaling. Available at: http://www.socialresearchmethods.net/kb/scallik.php (Accessed: 07 Jun 2010)
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