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

  1. Identify the Ethical Issue: Recognize the ethical dilemma or issue at hand.

  2. Gather Information: Collect relevant facts and identify the stakeholders involved.

  3. Evaluate Alternatives: Consider the possible actions and their consequences.

  4. Make a Decision: Choose the course of action that aligns best with ethical principles.

  5. Implement the Decision: Put the chosen action into practice.

  6. 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.


Last modified: Friday, 18 October 2024, 12:19 PM