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. Consider this statement: "Doing well by doing good." In your opinion, what does this mean in relation to business? Identify a business that you feel is a good example of this. Explain why you feel that way
This statement refers to the need to consider all stakeholders when making important or wide-ranging business decisions. Historically, management often believed that the sole purpose of an organization was to maximize shareholder wealth. However, the most profitable companies often look to provide society benefit other than those derived from profit making incentives. Companies such as Tesla look to leverage their technology to reduce societys dependence on oil and gas products that can ultimately damage the planet. Fast food companies such as Chipotle look to use recycled products to help reduce waste that can also be harmful to the environment. Due to these initiatives, both companies have enjoyed higher profit margins and brand loyalty than their much more profit focused peers. Here, consumers recognize that these companies, in addition to making profit, also benefit the world at large.
2. Think of one question you might ask potential job candidates during the hiring process that might give you an idea...…to ethical standards? List at least 2-3 ways. Why would this be important?
First, domestic companies must stringent observation and monitoring standards to ensure that foreign factories are behaving in an ethical manner. Here, this could include surveillance cameras, third party observations, or other forms of observation. Second, the company should promote a company culture that celebrates whistle blowers or those who report unethical actions to senior management. Finally, the company should have strict punishments for those who violate ethical standards. This is important as it indicates to the entire company that senior management takes ethics very seriously and will not compromise…
Moreover, the researcher who falsifies the data is prone to legal action as has been the case in the past when researchers have falsified research results (Normile C, 2006). Therefore, in order to deal with this grave issue, it is important to ensure that the data being incorporated in the research paper has been properly handled and it is being reported correct. Ensuring this would satisfy the ethical standards
B. The Impact of Societal Norms All businesses function within and serves a society during any given time in history. Since as early as Aristotle, and even earlier, ethical codes and standards have dictated not only business, but also society as a whole. Aristotle's concept of "the good life" provided a starting point for ethical codes during Ancient Greek times and afterwards. The first articulated codes of ethics were then created
Role of Ethical Standards and Codes in Psychology One may wonder why it is so important to have an ethical code of behavior for psychologists. After all, psychologists are highly trained professionals who would not seem to need a rigid code to dictate how to behave in their professional lives. However, it is critical to keep in mind that, by the very nature of their work, psychologists become involved in
Ethical Decision Ethical Dilemma and Decision Making In the selected scenario, a therapy patient is beginning to develop a trusting relationship with his therapist after spending a fir amount of time dealing with his depression. Under-employed and under-insured, it is clear that the patient still needs help but it is less clear that he has the necessary resources to continue paying for his therapy. Insurance payments could be guaranteed by embellishing his
Ethical Decision Making: Ethics refers to principles that define behavior as fair and proper and they are concerned with how a moral person should behave when it comes to making an ethical decision (Josephson Institute of Ethics, 2002). Evaluating and deciding among competing options is often key in making a fair choice since principles do not always dictate a single "moral" course of action. The decision of whether to lay off workers
Ethical Decision Making Process The case study at hand involves a number of issues. The first and foremost is that of the treatment and counseling of an addict that refuses to admit that he has a problem that needs to be dealt with in order for him to not only lead a normal healthy life but also might have implications for his family life. Additionally, the patient involved refuses to keep