1. Ethical Decision Making in Business Overview 2. Business Ethics .

is the process of evaluating decisions, either pre or post, with respect to the moral standards of a societys culture. or How are we to relate to each other in order to ensure that our individual and collective well-being is enhanced? 3. What is involved in correct moral opinion Need to go outside, or beyond ones self interest in reaching a decision. An ethical judgment is one that can be universalised. Ethical opinions are not subject to a vote. Moral opinions are centrally about evaluating behaviour and prescribing ways in which people should behave. Requires one to think about consequences of ones action. 4. Chart of Theories Ethical Theories Consequentialist Non Consequentialist Ethical The Golden Utilitarianism Theology Kantianism Egoism Rule Act Rule 5. Consequentialist Theory Consequential The good or evil results of an action Egoism Selfinterest is the proper goal (long term?) Utilitarian Greatest good for the greatest number Feminism (Individualism) Philosophy of caring Effect on the individuals 6. Ethical Egoism It is based on what is right, or what one ought to do , driven to act in accordance with ones own self-interest. Tells us what people should do. It advocates the long term self interest of the individual. 7. Act Utilitarianism Founder was Jeremy Bentham (1748 1832) thinker and social reformer. Pleasure and pain principle. An act is only morally right if and only if it maximises utility. Utlity intrinsic goodness, satisfactions, preferences and desires. The ratio of benefit to harm calculated by taking everyone affected by the act into consideration is greater than the ratio of benefit to harm resulting from any alternative act. 8. Calculation Yield Results P1 P2 P3 Total A1 +4 -5 +8 +7 A2 +6 +2 -3 +5 A3 -2 -5 +4 -3 9. Rule Utilitarianism An act is right if and only if it is in conformity with a particular moral rule, and the rule is chosen because, of all alternative rules, it maximises utility. i.e. We must not hold a person accountable for a crime he has not committed 10. Non Consequentialist Theories Deontological (Means Duty) Immanuel Kant and the Categorical Imperative Each person should act in a manner that his or her actions could become universal law Duty is more important than result Other Theories The Golden Rule Virtue Ethics 11. Kantianism German Philosopher Immanuel Kant (1724-1804). Developed a theory of duty intellectual justification for the golden rule. He believed in a science of morals is possible because humanity has the use of freedom and reason. When using people to accomplish your purposes, you have a duty to respect them as human beings and to promote their ability to realise their desired potential or goals. 12. Theologism Asserts that an act is right if, more than any alternative open to the agent at the time, it is the most consistent with what God wills, either directly or indirectly. Theologism provide us with a set of rules (e.g., the Ten Commandments) that express Gods will.

13. The Golden Rule The Golden Rule Do unto others as you would have them do unto you is a most widely accepted moral principle. Confucianism That which you do not want done to yourself, do not do to others (Analects) Islam No one is a believer unless he loves for his brother what he loves for himself (Traditions) 14. The Golden Rule (ctnd) Buddhism Hurt not others with what pains yourself In surveys of business people the Golden Rule is cited more often than any other principles the basis of proper ethical behavior. 15. Virtue Ethics Dates back to Aristotle It stresses the kind of moral abilities that put us in a position to act morally, whether after weighty deliberation or quick reaction. It views the character of the person performing the action and rejects applying the correct theory. 16. Ethics Related Decision Making The General decision making structure is: Individual or Company X has a Problem P. The alternative solution to P are S1.Sn. S1 is the best solution to P. X should do S1 17. Ethical Problem Framework 1. Gather the facts carefully to determine whether there is an ethical problem. 2. If there is a problem, try to state it as clearly as possible. 3. Determine whether the problem has an ethical dimension. 4. Identify those affected by the problem. 5. In many cases you will need to demonstrate the seriousness of your problem, since there is no need to deliberate at the length of a trivial problem. 6. In many cases we are interested in determining what caused the problem. 7. Develop solution 8. Recommendation 18. Summary Ethics can be divided into Consequentialism and Non Consequentialism theories of ethics. At the end of the day the business leaders must make informed business decisions weighing up the impact of self interest over the greater good for society. 19. You are welcome to contact Nigel Bairstow at B2BWhiteboard your source of B2B Asia / Pacificmarketing advicehttp://www.linkedin.com/pub/nigelbairstow/6/41b/726http://twitter.com/#!/b2bwhiteboard