About This Chapter
Decision Making in Business Ethics - Chapter Summary
The lessons in this chapter detail the concepts underlying ethical decision making as well as examine the steps individuals can take to make sound business decisions. Employees will learn about the following:
- Processes for making ethical decisions
- A stakeholder approach to decision making
- Three types of ethical frameworks for making decisions
- Comparisons between legal and ethical perspectives in business decision making
- Models for decision making that focus on the consideration of others
These lessons use clear examples and engaging visuals to help your employees understand these topics. Quizzes and a chapter exam provide additional tools to test comprehension of the materials to ensure your employees got what they needed out of this corporate training chapter.
How It Helps
- Educates employees: This chapter familiarizes employees with the frameworks and approaches to ethical decision making and provides practical advice for putting these concepts to use.
- Emphasizes sound decisions: These lessons help employees analyze their day-to-day decisions using ethical frameworks and processes for guidance.
- Enhances employee judgment: Employees learn specific approaches and models for evaluating the impact of business decisions on stakeholders, which includes shareholders, customers and other employees.
By the end of this chapter, employees will be able to:
- Outline the frameworks used to make ethical business decisions
- Evaluate business decisions from both a legal and ethical perspective
- Explain the steps to making ethical business decisions
- Describe the models and approaches for considering the interests of others when making business decisions
1. Ethical Decision Making
We have to make decisions every day, and many of these decisions have an ethical dimension. In this lesson, you'll learn about ethical decision-making and a process you can use to make ethically sound decisions. A short quiz follows.
2. Practical Application: Ethical Decision Making in Business
Some business decisions are simple, but some involve ethical consideration. Read and analyze some scenarios to practice identifying, evaluating, and making ethical decisions at work.
3. A Stakeholder-Based Approach to Ethical Decision Making
Good managers make ethical decisions that balance the impacts they may have on other parties. In this lesson, you will learn about identifying stakeholders and considering their interests in the ethical decision making process.
4. Frameworks for Ethical Decision Making
Each day we make decisions that have ethical considerations. But, how often do we apply a consistent framework to those decisions, and does it matter if we don't? In this lesson, we'll learn about the prevailing frameworks and what they mean.
5. Decision Making: Legal & Ethical Perspectives
Explore the relationship between the law and ethics. Gain an understanding of the similarities and differences in legal and ethical perspectives, and analyze why the application of decision making in the workplace must be both legal and ethical.
6. Legal Ethical Decision Making: Models, Steps & Framework
Ethical decision making involves making choices based on what is good for all people. The Golden Rule, public disclosure test and universalization test are three models that consider others in their application.
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