8.2 Ethical Decision-Making
Ethical decision-making is the process of evaluating and choosing among alternatives in a manner consistent with ethical principles. This involves considering the impact of decisions on all stakeholders and ensuring that choices align with the company’s ethical standards.
Ethical decision-making is the process of evaluating and choosing among alternatives in a manner consistent with ethical principles. This involves considering the impact of decisions on all stakeholders and ensuring that choices align with the company’s ethical standards.
Steps in Ethical Decision-Making
Identify the Ethical Issue: Recognize the ethical dilemma or issue at hand.
Gather Information: Collect relevant facts and identify the stakeholders involved.
Evaluate Alternatives: Consider the possible actions and their consequences.
Make a Decision: Choose the course of action that aligns best with ethical principles.
Implement the Decision: Put the chosen action into practice.
Reflect on the Outcome: Evaluate the results of the decision and learn from the experience.
Factors Influencing Ethical Decision-Making
Several factors can influence ethical decision-making:
Individual Values: Personal values and beliefs of the decision-makers.
Organizational Culture: The company’s culture and the ethical tone set by leadership.
Legal Requirements: Laws and regulations that must be followed.
Stakeholder Interests: The interests and expectations of stakeholders.