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Ethical Decision-Making in Business

This document discusses various approaches to ethical decision making in business including rights theories, justice and utilitarianism theories, virtue approach, common good approach, and Kohlberg's model of cognitive moral development. It also outlines the key elements of the process of making good ethical decisions such as recognizing ethical issues, evaluating choices from different perspectives, considering consequences, and reflecting on decisions.

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vikasgoyal86
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6 views9 pages

Ethical Decision-Making in Business

This document discusses various approaches to ethical decision making in business including rights theories, justice and utilitarianism theories, virtue approach, common good approach, and Kohlberg's model of cognitive moral development. It also outlines the key elements of the process of making good ethical decisions such as recognizing ethical issues, evaluating choices from different perspectives, considering consequences, and reflecting on decisions.

Uploaded by

vikasgoyal86
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Ethical decision-making in Business

• Ethical models that guide decision-making


• Which approach to use?
• Decision-making with cross-holder conflicts &
competition
• Kohlberg’s model of cognitive moral
development
• Influences in ethical decision-making
• Process of ethical decision-making
Rights Theories

Individual Rights Include:


 Free Consent
 Freedom of Conscience
 Privacy
 Free Speech
 Due Process

Legal Rights are protected by law, moral rights have to


be protected by society.
Justice & Utilitarianism Theories

• Justice precede rights theories


• All persons should be guided by fairness,
justice, equity and sense of impartiality.
• If treated unequally, must be backed by defensible
reason.
• Utilitarianism
• View regarding action or decision being right if it
maximizes utility.
• Based on cost-benefit economic postulates
The Virtue Approach

• Virtues are attitudes or character traits that


enable us to be and act in ways that develop
our high potential.
• Stresses on eternal virtues that human beings
would always like to showcase in person who
will be referred to as role models to others
The Common Good Approach

• Life in a community is good in itself


• Moral responsibility not only to contribute but
to enrich
• Effective system of law and order, policing and
other services
• These should promote overall welfare of
society
Kohlberg’s Model Of Cognitive Moral
Development
• Stage of punishment and obedience
• Stage of individual instrumental purpose and
exchange
• Stage of mutual interpersonal expectations,
relationships and conformity
• Stage of social system and conscience
maintenance
• Stage of prior rights, social contract or utility
• Stage of universal ethical principles
Personal Values And Ethical Decision Making

• Trustworthiness
• Respect
• Responsibility
• Fairness
• Caring
• Citizenship
 Corporate Values and Ethical Decision Making,

 A Framework of Ethical Decision Making,

 Good Decisions are Both Ethical and Effective


Process of making good ethical decisions

• Recognize and identify the kind of ethical issues you


need to resolve,
• Pause and think,
• Make sure of your goals,
• Get your facts right,
• Evaluate choices from different ethical perspectives,
• Consider consequences,
• Make a decision,
• Act, then reflect on the decision later.

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