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More handpicked essays just for you.
Characteristics of egoism and its impact on the human being
Ethical factors affecting business
Decision making
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There are factors that can effect a person’s ethical or unethical decisions, which consist of individual, organizational, and opportunity factors. Individual factors can be defined as an individual that bases their ethical or unethical decisions on their beliefs of what is right or wrong (Thorne, O. Ferrell, & L. Ferrell, 2011, p. 185). Organizational factors are when individuals base ethical or unethical decisions on a set of values and norms shared by members or employees of a company (Thorne, O. Ferrell, & L. Ferrell, 2011, pp. 190-191). Opportunity factors are defined as a set of conditions that can either limit or reward an individual and hinder or permit misconduct (Thorne, O. Ferrell, & L. Ferrell, 2011, pp. 193-195). All people cultivate …show more content…
Dennis Kozlowski seemed like he was always about himself and that he would do anything to improve his situation. Individual factors are what led Kozlowski down his dark road and what contributed to his demise. Who knows if Kozlowski had a conscious or if his greed clouded it, but we know that he had an ego and wanted to live a lavish lifestyle. Egoism is “a philosophy that defines right or acceptable conduct in terms of the consequences for the individual” (Thorne, O. Ferrell, & L. Ferrell, 2011, p. 186). Egoists make decisions that benefit themselves and their own self-interests, which Kozlowski can be classified as. Kozlowski also fits in the category of a consequentialist. Consequentialism is “a class of moral philosophy that considers a decision right or acceptable if it accomplishes a desired result such as pleasure, knowledge, career growth, the realization of self-interest, or utility” (Thorne, O. Ferrell, & L. Ferrell, 2011, p. 186). Kozlowski based all of his decisions on his personal finances and his own self-interest. Organizational factors probably did not play a role in the decisions that Kozlowski made. The only thing that may have influenced him was his personal relationship with his mentor, Joseph Gaziano. Kozlowski was so impressed by Gaziano’s style of living that Kozlowski would have basically done anything to get that. This may have influenced his aggressive behavior and unethical decisions to grow the company quickly and achieve the maximum amount of compensation possible. The opportunity factors did not exist until Kozlowski became the CEO. Once Kozlowski was the CEO of Tyco he began to use his position and power to place people he could trust in positions around him. He basically handpicked the board of directors and made sure to keep people close to him that he could trust and manipulate. Kozlowski
Ethical decision-making is the responsibility of everyone, regardless of position or level within an organization. Interestingly, the importance of stressing employee awareness, improving decisions, and coming to an ethical resolution are the greatest benefits to most companies in today’s world (Weber, 2015).
Conversely, we see Jim Taylor, a CEO, with obvious wealth, power and control (Smith, director, 2015). Jim’s position as CEO is understandably extremely stressful, but he is empowered to make decisions and has control and access to a substantial amount of resources. Like Corey, Jim also has high demands, however Jim has high control, which makes all the difference (Smith, director,
Throughout your life, you’ll face tough decisions where you'll have to decide possibly against your ethical beliefs. Ethics don’t necessarily always have to involve law abiding. It’s rather about trusting your moral path and doing the right thing. Dori Meinert is the author of “Creating an Ethical Workplace” she explains the thought behind the never black or white decision making when it comes to businesses. Can businesses truly trust those individuals hired to steer their companies? It was mentioned that last year 41 percent of U.S. workers said they observed unethical or illegal misconduct on the job, according to the Ethics Resource Center's 2013 National Business Ethics Survey. Meinert’s article was not only eye-opening but very truthful since we’ve all been faced or witnessed unethical decision making. Once employees see individuals breaking the rules and regulations others will then think it's okay, which could result in employees leaving or major hoops for companies to jump through. When we tolerate misconduct we lower productivity and diminish the reputation of a company. Meinert mentioned that if
“Most people in the U.S. want to do the right thing, and they want others to do the right thing. Thus, reputation and trust are important to pretty much everyone individuals and organizations. However, individuals do have different values, attributes, and priorities that guide their decisions and behavior. Taken to an extreme, almost any personal value, attribute, or priority can “cause” an ethical breach (e.g. risk taking, love of money or sta...
An integrative model for understanding and managing ethical behavior in business organizations. Journal of Business Ethics, 9(3), 233-242. Doi: 10.1007/BF00382649
Dennis Kozlowski, is the former Chief Executive Officer (CEO) of Tyco International Ltd. During his tenure, Kozlowski engaged in activities that were considered unethical. In 2005 Kozlowski was convicted of misappropriation of corporate funds. Kozlowski had been involved in illegal and unethical behavior during most of his tenure. The findings that lead to the conviction of the former CEO were due to the persistent questioning and interrogating tactics of the shareholders and stakeholders because Kozlowski held within his authority to make decisions that could change the course of the company. Business ethics, auditing practices, and government regulations will forever be affected by the $500 million loss endured by the company. Needless to say this scandal had an major impact on the economy and the business world.
The three main crooks Chairman Ken Lay, CEO Jeff Skilling, and CFO Andrew Fastow, are as off the rack as they come. Fastow was skimming from Enron by ripping off the con artists who showed him how to steal, by hiding Enron debt in dummy corporations, and getting rich off of it. Opportunity theory is ever present because since this scam was done once without penalty, it was done plenty of more times with ease. Skilling however, was the typical amoral nerd, with delusions of grandeur, who wanted to mess around with others because he was ridiculed as a kid, implementing an absurd rank and yank policy that led to employees grading each other, with the lowest graded people being fired. Structural humiliation played a direct role in shaping Skilling's thoughts and future actions. This did not mean the worst employees were fired, only the least popular, or those who were not afraid to tell the truth. Thus, the corrupt culture of Enron was born. At one point, in an inter...
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Ethical behavior is behavior that a person considers appropriate. A person’s moral principles are shaped from birth, and developed over time throughout the person’s life. There are many factors that can influence what a person believes is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business, it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company.
For this paper Washington Mutual has been selected to show how the ethical decision making process can be achieve. When it comes to business ethics in the workplace Washington Mutual has designed what can be considered a well balanced workplace with behaviors that are aligned with their moral values and business ethics. Business ethics are sometimes depicted as resolving conflicts where one option can appear to be the correct choice. There are many different ethical dilemmas that are faced by managers and leaders everyday that are highly complex and have no clear choice or guidelines to assist in making the choices for resolution. There are times when an employee has to decide whether or not to cheat, lie, steal, or break their contract. These ethical decisions are real-life situations where they are forced to make on a daily basis. This is why it is ultimately important that all employee know the six steps to ethical decision making that the company uses.
I discovered how sticking to one’s morals should be the topmost priority for everyone involved in business, whether personal or professional. Regardless of what the consequences may be, the intensity of the problem, and the complexities it may bring, sacrificing one’s integrity should never be an option, as integrity goes hand-in-hand with the morals of an individual (Duggan & Woodhouse, 2011). They further go on to say that having individuals take part in building a code of ethics that supports employee integrity, they will act ethically. Also, I believe that companies should place more emphasis on the moral behavior of their employees, and clear-cut policies should be set regarding such ethical situations. Furthermore, I realized how serving justice while making decisions really helps in the long run, and that opting to go for the ideal rather than they deserved is not always the best option, and could hurt a company in more than one
As a consequence, the ethical dimension of a decision is not necessarily visible to the decision maker. A person can behave unethically and not even realize that they are behaving that way. They could be thinking that they are doing things appropriately. It is only later that they realize the unethical dimension of their decision. This is what the authors describe as ethical blindness. Under certain circumstances the ethical aspect of a decision fades away so that the decision maker gradually becomes unaware of it (Palazzo, Krings, & Hoffrage,
Having an ethical climate is important because it directly reflects the ethical behavior of organizational leaders. Consequently, it can be viewed as an extension of organizational culture, which ultimately dictates organizational behavior (Boundless, 2014). Therefore, if an organization
4. Unknown. Ethics. Santa Clara University Markkula Center for Applied Ethics. 29th March 2004. http://cseserv.engr.scu.edu/NQuinn/COEN288/EngrHandbook_Ethics.pdf
...the agents to be the gatekeepers for keeping the corporation alive. While some of Dr. Friedman’s opinions came across bold and harsh, ultimately I feel that he presents a strong case for developing a profit-motivated company that does not treat its stockholders inappropriately.