Growth Opportunities
Discuss the challenges of values-based business decision making ethics in the current marketplace.
A values-based business decision is focusing on how ethical practices will influence the actions of the firm, their relationship with customers and its long-term impacts on the brand name. This can provide organizations with the tools they need to become more competitive and it enables clients to offer them with something more. In the future, this helps an organization to be able to stand out and offer stakeholders with something more. (Khanna, 2010) (McMurrian, 2006)
However, there are challenges associated with using this basic approach in the current marketplace. The most notable include: added costs and creating a congruent strategy. In the case of added costs, the use of this model has been shown to increase the amounts of training and time discussing why ethics are important to staff members and managers. The basic idea is to have these attitudes become a part of the organization itself. (Khanna, 2010) During the process, the expenses will continue to increase and productivity will decline while everyone is learning how and when to utilize these practices. This can hurt the competitive position of the organization. (Aslund, 2012) (Khanna, 2010)
Creating a congruent strategy is when everyone is working together to achieve the long-term goals of the organization itself. This means that staff members and managers must be embracing the same ideas and attitudes in the process. The challenge is that these issues can make the situation much worse. This is from certain groups of employees or supervisors being resistant to these new ideas. (Aslund, 2012) (Khanna, 2010)
When this happens, they may go along with the company's program. However, once they have completed everything, is the point they will revert back to their old attitudes in the process. Once this...
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