This website uses cookies to ensure you have the best experience. Learn more

Ethics In Business Decision Making Essay

993 words - 4 pages

The field of ethics (or moral philosophy) involves systematizing, defending, and recommending concepts of right and wrong behavior (Fieser, 2009). Many of the decisions one faces in a typical day could result in a multitude of outcomes. At times it can be hard to determine whether or not the decision you are making is an ethical one. Many philosophies have been devised to illustrate the different ways of evaluating moral decisions. Normative ethics focuses on assessing right and wrong behavior. This may involve reinforcing positive habits, duties we should follow, or the consequences of our behavior (Fieser, 2009). Of the many normative philosophies two stand out to be most accepted; teleology and deontology. Although they oppose each other in how actions are evaluated, they uphold many similar characteristics under the surface.

Normative ethics involves either a single rule or a set of principles to evaluate moral conduct. Teleology stipulates that acts are morally acceptable if they produce some desired result. Deontology on the other hand, focuses on the preservation of individual rights and on the intentions associated with a particular behavior. In summation, teleological philosophies consider the ends, or consequences, associated with an action whereas deontological philosophies consider the means (Ferrell, Fraedrich, & Ferrell, 2011). This is why teleology is commonly referred to as Consequentialism. In addition to the rule, deontology also cites individual absolute rights: freedom of conscience, freedom of consent, freedom of privacy, freedom of speech, and due process. Deontologist employ this set of freedoms because they believe certain rights should never be violated even if it is to produce a greater good (Ferrell, Fraedrich, & Ferrell, 2011). This is in opposition to Teleology’s view that the consequences of the action should always determine what one ought to do in a particular situation.

Utilitarianism is a form of Consequentialism due to its claim that the morality of an action depends entirely on the consequences the action produces. It holds that we ought to bring about, “the greatest amount of good for the greatest amount of people (Ferrell, Fraedrich, & Ferrell, 2011).” The Utilitarian approach was brought about by a concern with legal and social reform. The fundamental motivation was the desire to see useless, corrupt laws and social practices changed (Driver, 2009). Lack of utility was sighted as the main reason a law was deemed “bad,” Jeremy Bentham felt that if the law or action didn’t do any good then it wasn’t any good (Driver, 2009). Utilitarianism also relies upon some theory of intrinsic value: something is held to be good in itself, apart from further consequences, and all other values are believed to derive their worth from their relation to this intrinsic good as a means to an end (Encyclopedia Britannica, 2011).

Both Utilitarianism and Deontology can be further divided into Act and Rule segments....

Find Another Essay On Ethics in Business Decision Making

Impact of ethics on decision making

823 words - 3 pages involving a particular segment in the implementation process.I think that the ground rules of ethics in decision-making could be:1.Support of the long -term goal of culture change.2.Position valuing diversity as a business strategy.3.Emphasize inclusion, mutual respect, and cooperation.4.Encourage innovation and empowerment.I think that my manager being hired was a decision based upon ethics. Although she has been with the company nine years, holds two

The Impact of Ethics on Decision Making

1485 words - 6 pages evaluate your ethical values.The Impact of Ethics on Decision-MakingDefining the ElementsAn ethically defensible decision is one that has been well thought out and looked at from all possible angles. All possible angles include everyone involved including but not limited to employees, stakeholders, and other organizations. Also, when making ethically sound decisions, it may help to look at possible solutions in terms of what good the decision

The Impact of Ethics on Decision-Making

1337 words - 5 pages The Impact of Ethics on Decision-MakingDefining the ElementsAn ethically defensible decision is one that has been well thought out and looked at from all possible angles. All possible angles include everyone involved including but not limited to employees, stakeholders, and other organizations. Also, when making ethically sound decisions, it may help to look at possible solutions in terms of what good the decision will bring about, and also what

MGT 350 - The Impact of Ethics Upon Decision-Making

1351 words - 5 pages The Impact of Ethics Upon Decision-MakingDecision making is the process of identifying problems and opportunities and choosing from alternative courses of action for dealing successfully with them. However, not all decision making follows a routine process. Complex problems invariably expose individuals in organizations to conflicting ethical and moral issues "tough choices which pit one 'right' against another" (Kidder). What is right? What is

Organizational Influences: How does Ethics and Technology Affect Decision Making

1310 words - 5 pages Organizational Influences PAGE \* Arabic 1 Organizational Influences:How does Ethics and Technology Affect Decision Making#######XXXXXXXXXXMGT 331INSTRUCTOR14 October 2007Organizational Influences: How does Ethics and Technology Affect Decision MakingAbstractThis paper will attempt give explanation to the organizational influences in the workplace that can cause an increase level of stress due to ethical-type decisions and technological

Organizational Behavior Trends: The Influence of Ethics in Decision Making and the Impact of Technology on Work-Related Stress

975 words - 4 pages consequences is required. Making unpopular decisions is necessary in order to allow the company to grow and excel to survive in the business world. The decisions should be based on facts and so the need to have that knowledge and experience is needed to have access to those facts and to use it to solve problems ethically and to do what is right.Utilizing ethics in making decisions is not just deciding to do what is right and it is more than preaching. It

Leadership and Ethics Course, Through Military Discussing Ethical Decisions as They Relate To Utilitarian Teleologist, Kantian Deontologist and Decision Making,

3080 words - 12 pages is that of a Kantian Deontologist (KD) who's reasoning would be to follow the order to evacuate, leaving them there. Their ethical reasoning is related directly to performance of their duty, following orders given to them by command and not of an emotional feeling. Kantian is derived from the philosopher Immanuel Kant whose ethics are founded on rationality as the higher good, and that people are rational beings. When making a decision you must

Decision Making Skills in Business Environment

1578 words - 7 pages comes to the highly competitive and ever changing business world. In view of that, a variety of models have been developed by the scholars from all around the world in an attempt to conceptualise the decision making process and maximise its potential output. In this paper, we will look at the role of the Carnegie and the Incremental decision models in explaining the decision making process in the business environment and how they differ from each

Business Decision Making

1335 words - 5 pages the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it will be examined how the decision making process can be followed using various tools and techniques to make successful business decisions by using these

business decision making

2471 words - 10 pages Contents21 Introduction 21.1 Data collection 21.2 Sampling method & Sample Selection 31.3 Question Schedule 42 Collected Data: 62.1 Analyzing Data: 82.2 Summarizing Data 103 Producing information 103.1 Findings 113.2 Conclusion: 124 Making decisions 124.1 Information processing tools 124.2 Project plan 134.3 Financial tools for decision making 145 References: IntroductionThe importance of online banking service quality is increasing day by

Business Intelligence Systems in the Decision Making Process

2456 words - 10 pages ” (Hernause et al., 2010, p. 1179, para. 10). Results and Conclusion. According to Hernause et al. (2010) the results of the study support that BI will not be successful if it is not supported by top management. The results also suggest that BI is an important part of decision making in every hierarchy level, especially if IT departments are involved in business strategies. The study revealed that in the companies that completed the questionnaire

Similar Essays

Ethics In Accounting And Financial Decision Making

586 words - 2 pages Many organizations today place significant emphasis on ethics and the financial decision making process within the organization. Organizations are expected to behave in an ethical manner in the current economy. There are many factors that influence organizations to ensure and enforce ethical policies. The purpose of this paper is to discuss ethics in accounting and financial decision making, how it relates to the United States Amy.An article

Ethics In Accounting And Financial Decision Making

884 words - 4 pages Ethics in Accounting and Financial Decision MakingIn today's business world, many organizations place a tremendous emphasis on ethics and the financial decision making process within organizations. All organizations are expected to behave in an ethical manner in the current economy. There are many factors that influence organizations to ensure and enforce ethical policies. The objective of this paper is to discuss ethics in accounting and

Ethics And Management Decision Making Essay

4688 words - 19 pages imagination and the search for ethical decision-making in Management, Business Ethics Quarterly, The Ruffin Series: Special Issue [32] Werhane, P.H. (2002a) ‘Moral Imagination and Systems Thinking’, Journal of Business Ethics, vol. 38, no. 1/2, pp. 33-42 [34] Werhane, P.H. (2002b) ‘Moral Imagination and Systems Thinking’, Journal of Business Ethics, vol. 38, no. 1/2, pp. 33-42 [33] Werhane, P.H., Dunham, L. (2002) ‘Moral Imagination: A

Effective Leadership, Ethics In Decision Making, And The Systems Approach

1138 words - 5 pages , ethics in decision making, and the systems approach. Effective Leader in a Learning Organization The leader within the learning organization must be able to make distinctions between their authority and the need for learning (Laurie & Heifetz, 2003). The leaders in the organization must be able to make adaptations and admit they do not know all of the answers, but instead are willing to work with the other employees or members of the organization