how ethical dilemma influences managerial decision making in corporate? Write in 12 points.
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Answer:
As a business owner and leader, you’re going to have to make a lot of important decisions for your company. On everything from marketing to sales, operations to human resources, your team will look to you for guidance and ask which direction they should go in. In addition to keeping profitability in mind, you also have look at decisions from an ethical standpoint. The role of ethics in decision making affects how you approach decisions, how you decide which action to take and whether or not you need to consult someone else for their viewpoint.
Step 1: Define the Problem Clearly
According to the Business Ethics Resource Center, it’s vital to include a decision making framework when you’re dealing with ethical questions in your business. This is a process or set of rules that helps you determine how to make the best decision. The first step of the ethical decision making process is to understand what problem or dilemma you’re up against. Keep in mind that this may not be the same as the question asked of you to make a decision.
Status suggests that this step is really about helping leaders to understand where they need to apply ethical principals. Not all important decisions will have ethical considerations, but leaders need to know which ones do. They may not always stand out and be obvious. For example, when deciding which new product lines to sell in your store, one of the options may include liquor and cigarettes. While they are profitable choices for many retailers, it might not fit in with your company’s ethical values.