MANAGEMENT AND ETHICS

BY, N.ANISHA, 11021E0101.

MANAGEMENT AND ETHICS

Management of any business involves hundreds of decisions. Ethical issues occur in decision making process. Objectives of the organization may run in direct conflict with its social commitment which is measured in terms of obligation to the stakeholders, both within and outside the organization. This requires a fine balancing act on the part of the organization.

INFLUENCES ON ETHICAL DECISION MAKING

There are three major influences that have an impact on employees decision making in business
Their

personal moral standards Their workplace ethics and culture The nature of the issue concerned

A FRAME WORK OF ETHICAL DECISION MAKING

Sometimes our power to choose may be overwhelmed by external factors or inner emotions.
when

one is young & immature, one may act impulsively. When one is depressed or under the influence of alcohol, one may act as if one had only a Hobsons choice. But one still has the power to exercise a choice and one is responsible for the consequences that follow.

GROUND WORK FOR MAKING ETHICAL DECISIONS

Michael Josephson has constructed the following components of good choices

Take

choices seriously. Good decisions are both ethical and effective. Discernment and discipline.

TAKE CHOICE SERIOUSLY

In complex cases, answers to the following 4 queries will identify important decisions.
Would

that decision cause you or someone else to suffer any physical harm? Would that decision cause you or someone else to suffer serious emotional stress and strain? Would that decision hurt your reputation, undermine your credibility or damage important relationships? Would that decision jeopardize the realization of any important goal?

GOOD DECISIONS ARE BOTH ETHICAL AND EFFECTIVE

A decision will be ethical if it is in line with the values such as SIX PILLARS OF CHARACTER
Trustworthiness,

respect, responsibility, fairness, caring and citizenship.

The key to making effective decisions is to think about choices in terms of their ability to accomplish our most important goals.

DISCERNMENT AND DISCIPLINE

To make ethically sound decisions, one should know what to do, and more importantly, how to do. These need the qualities of discernment and discipline.

THANK YOU