The aim of this paper is to discuss the challenges of values-based decision-making ethics in the current marketplace. This discussion will include the research findings on the four markets for potential expansion and an assessment of the current social and political climate of each. A recommendation will offer three best fits based on a comparison of company values, and will include detailed rational for these choices.
Content and Analysis
According to Ferrell (2004), “Organizations create ethical or unethical corporate cultures based on leadership and the commitment to values that stress the importance of stakeholder relationships. Establishing and implementing a strategic approach to improving organizational ethics is based on establishing, communicating, and monitoring ethical values and legal requirements that characterize the firm's history, culture, and operating environment” (p. 129). Ethics programs ensure satisfactory relationships with all stakeholders by aligning with all of their demands and needs, and determine conduct with customers and relationships with regulators, shareholders, suppliers, and employees (Ferrell, 2004).
Values are a core set of beliefs and principles by one or many. A number of factors contribute to the development of values. These include membership in a community or culture, attitudes, beliefs, and behaviors. Values determine what is important in decision-making. Ethics involve conduct, the ability to determine right and wrong. All organizations face ethical dilemmas. Organizations develop corporate social responsibility in reaction to the values and expectations of society. Corporate social responsibility initiatives aim to protect public health, safety and the environment (Joyner, Payne, & Raiborn, 2002).
Decision-making is the process of evaluating options with a goal of selecting a choice with the best outcome, and relies on a value system. When utilizing the rational decision-making theory decisions often follow a logical path. Classify the problem, define it, list alternatives, determine response, and then take action. Decision models assist in making decisions that are consistent with values through contemplation of alternatives, basing the final call on its relationship to the individual or organizational values (Watson, n.d.). Values, ethics, corporate social responsibility, and decision-making are all interrelated.
Values Based Decision Making
Values-driven organizations realize who they are and what they stand for is just as important as what they sell to society and their stakeholders. These organizations focus on meeting the expectations of society for environmental stewardship and social responsibility. Values-driven organizations align with the values of all stakeholders, customers, and shareholders (Barrett, n.d.). Values based decision marking requires relinquishment of some control to stakeholders who will act upon organizational goals and...