Ethics in Decision Making


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Ethics in Decision Making

  1. 1. Submitted By: |Ishpreet Singh 12P139 J Abhinav 12P140||Karan Jaidka 12P141 Kshitij Agrawal 12P142||Kshitij Ahuja 12P143 Ladlee Rathore 12P144| |Group 4|
  2. 2.  Well-founded standards of right and wrong Study and development of ones ethical standards Branch of study dealing with what is the proper course of action for man “What to Do?” – Right vs. Wrong; Virtue vs. Vice More fundamentally: Indulge in our needs or sacrifice them for others?
  3. 3.  Behaviour a business adheres to in its daily dealings Varied and Diverse Micro and Macro – Dealings with individual customer and the world at large Manner of making money that brings in the factor of ethics Every business must have good Business Ethics Unethical by Association – when linked with another company that does unethical business More often, money decides business ethics and this is a bad thing Companies that pride themselves on their correct business ethics are diminishing
  4. 4.  Changing workplace with diverse workforce propels ethics into the forefront Varying career responsibilities and increasing workload puts a lot of pressure Workers face decisions that have implications for their job security, their salaries, and the success of their employing organizations These decisions pressurize them to protect their own interests, sometimes at the risk of losing their personal and corporate integrity “Do more with less and adapt quickly to change”
  5. 5.  Resolving ethical issues requires interpersonal and negotiation skills Application of employability skills--honesty, ability to work cooperatively, respect for others, pride in ones work, willingness to learn, dependability, responsibility for ones actions, integrity, and loyalty makes one more ethical Ethical Dilemmas are inherent in the workplace If ignored or poorly managed they tend to negatively affect business operations and staff productivity
  6. 6.  The first ethical yardstick is utilitarianism Decisions are made solely on the basis of their outcomes Objective to provide the greatest good for the greatest number Dominates business decision making Consistent with goals such as efficiency, productivity and high profits
  7. 7.  Based on documents such as Bill of Rights Respecting and protecting the basic rights of individuals such as right to privacy, free speech and due process Protects the whistle-blowers when they reveal an organization’s unethical practices to the government agencies or the press using their right to free speech
  8. 8.  Fair and Impartial Criterion Favored by Union members Justifies paying people the same wage for a given job regardless of performance differences Uses seniority as the primary determinant in layoff decisions
  9. 9.  Pros  promotes efficiency and productivity Cons  can sideline the rights of some individuals, particularly those with minority representation Favored by decision makes in “for-profit” organisations “Best interests” of the organization and its stockholders can raise a lot of questionable actions Many critics feel that this perspective needs to change
  10. 10.  Pros  protects individuals from injury and is consistent with freedom and privacy Cons  creates a legalistic environment that hinders productivity and efficiency Individual rights and social justice suggests managers should develop ethical standards based on non- utilitarian criteria Satisfying individual rights and social justice sometimes creates more ambiguities than utilitarian effects
  11. 11.  Pros  Focus on justice protects the interest of the underrepresented and less powerful Cons  It can encourage a sense of entitlement that reduces risk taking, innovation and productivity Since laying-off is based purely on seniority, sometimes deserving people get laid off This too can create more ambiguity than utilitarian effects
  12. 12.  You have been promoted to the post of a manager and now your best friend works under you. Even after repeated reminders he has been consistently underperforming. Would you fire him? Analysis  58 out of 102 respondents have said yes  Most of the respondents have given more importance to utilitarianism  But, there is a significant number of people who will not fire their best friend
  13. 13.  You have to take the interview for a position in your company. You have a choice between a deserving candidate and a relative who desperately needs a job. Whom would you choose?Analysis A clear majority say that they would choose the deserving candidate The interviewer should not allow his personal life to influence his professional decisions
  14. 14.  A teacher has to decide whether to honour a union strike and stop teaching or fulfil her obligation towards the students. If she does not teach, the students would not graduate on time. What should she do? Analysis  The respondents were mostly millennials and they put their own needs before of others  To teach is the ethically correct decision because the problem is not due to the students and hence the students should not suffer
  15. 15.  Your junior has not been performing well for a while due to family problems and has become a liability, but he is the sole earner for his family. Would you remove him from the job? Analysis  Most of our respondents are of the belief that removing the junior employee is not the right option  He should be warned and reprimanded, but not fired  He should be given some incentives so that he can be motivated to perform better
  16. 16.  You are in need of money and a person offers you a bribe for some confidential information about your company. Will you accept the bribe? Analysis  We did not expect more than 10 respondents to say that they would accept the bribe  However in a practical scenario, there might be a higher number of people who would accept the bribe
  17. 17.  A student has to work to pay his college fee. But, his student life interferes with his job and several deadlines have not been met. As his manager, what would you do? Analysis  57 of 102 respondents have said that the he should continue working and this shows that they would follow the principles of utilitarianism  They seem to understand that the college going employees have academic workload and some leeway can be given to them
  18. 18.  A person is working on a major contract. He breaks a few office rules according to which he should be fired, but it would mean losing the contract. What would you do as the manager? Analysis  Depending on the seriousness of the rules broken, we would have to make a decision as to whether we should fire the employee or not  This ambiguity has led to the respondents not giving a clear majority to any of the two options
  19. 19.  Your company has to release a new medicine which can generate huge revenues. But, due to severe competition, it hasn’t been tested properly. As the product manager what would your decision be? Analysis  The pharmaceutical industry is a zero-risk industry and the company should not play with the lives of people  A certain number of people would resign to avoid facing such a tough dilemma
  20. 20. Is Ethics good for business? Ethics is a diverse and complex field based on a lot of factors like Geography, Demography, Psychography, Behaviour, and Perception etc We have tried to analyze ethical behaviour of people in various fields through the means of a small survey In our survey 86 of 102 people think that ethics is good for business