Influence of Moral Philosophy on Business Decisions

Ethical and Moral Philosophies in Businesses

Ethical Moral Philosophies

Moral Philosophies Application to Business

According to Trevino and Nelson (2007), Philosophy describes a universal scheme of measures that people live by. From this definition, it follows that the moral philosophy defines specific rules or principles that people use to determine right and wrong. In essence, moral philosophy guides an individual's values and principles about moral and immoral issues (Trevino & Nelson, 2007). In business, moral philosophy will guide an individual in the evaluation of morally upright choices relating to their values and principles. Stansbury (2009) argue that moral philosophies are the ideal perspectives on matters that serve individuals with principles in an abstract form to facilitate their very social existence. The two moral philosophies considered in this paper are "Teleogy" and "Relativism."

"Teleogy" is derived from the Greek word for purpose or end. In this philosophy, it is considered that the outcome being the desired result makes an act is morally right (Trevino & Nelson, 2007). In this case if an action leads to attainment of a result that is gratifying then they are moral. Individuals guided by "Teleogy" philosophy consider results comprising of knowledge acquisition, realization of self-interest, wealth acquisition, utility maximization, career growth or fame.

In business, the "Teleogy" philosophy may be seen among sale persons who wish to meet the set sales target by all means possible. In total disregard to absolute honesty, a sales person may bombard a potential customer with so much information on a product to the extent of interrupting the customer's personal and official space. A customer may find this approach to be nuisance. The sales person, on the contrary, considers this as their only opportunity to achieve the set sale target and will not take no from the customer. In the result that the customer buys the commodity the sales person will have attained their desire and inch closer to meeting the set goals. The sales person's principles in this case are guided by their intention make a sale and meet set targets and thus approved as moral.

"Relativism" defines ethical behaviors as following from groups and individuals experiences (Trevino & Nelson, 2007). Experiences within a group are said according to the "Relativist" perspective, to play a big role in determining what is moral. In the application of the relativist perspective, an aspect will be considered to be moral depending on the consensus group members arrive at (Stansbury, 2009). Relativism falls under three categories: descriptive relativism, normative relativism and metaethical relativism.

Considering that the sales person is making a sale for door locks to a building contractor. If the door locks have a considerable defective rate, the sales person being a relativist would first consider the likely consensus of the group. The group would comprise of the company managers, the sales team, the company policy and the industry practice. If the sales person infers the groups' consensus is to discuss some locks fault, then he would inform the building contractor. Conversely if the sale person infers that groups' consensus would be not to inform the contractor, then he would disregard sharing information on the possibility of the locks' failure.

Influence of Moral philosophies on behavior and decision making

Moral philosophies influence how business relations take place by influencing individuals' perception on an aspect. The philosophies of morality guide individuals to align their decisions towards at most honesty, fairness, confidence and integrity (Trevino & Nelson, 2007).

Individual decision-making and behaviors are easily influenced by the moral philosophy taken be it consciously or unconsciously. Once a person identifies with a specific moral philosophy they strategize measures to undertake it relentlessly setting aside any organizational barriers on the way. In caring out their course of action, individuals will ensure that their moral philosophy guides in decision making mainly for their own benefits and not primarily for the organization.

Moral philosophy also guides corporations in their expansion ventures in regions observing different cultures (Trevino & Nelson, 2007). Decision about locating operation in different regions will require decision to be taken by considering how the culture observed in the region influence moral philosophy. The corporation's moral philosophies will also need evaluation to seek how to integrate them with those of the target area.

Impact of moral philosophies on global strategic planning

According to (Callahan, 2008) recognition of moral assumptions taken in decision-making facilitates a deeper understanding on the decision taken and minimize conflict. With the understanding of the moral philosophies guiding policies on global issues may be facilitated and ensure standardization in operations in business (Callahan, 2008). Business interactions in the growing global market are easily regulated and chances of conflict minimized. Measures and policies to ensure sustainable global economic activities can be easily addressed through an understanding of moral philosophies at play (Callahan, 2008).

Corporate and global leader use moral philosophies to establish business code of conduct facilitating behavior of individuals and attainment of goals desired (Callahan, 2008). It is observed that in attaining success moral philosophy play the role of guiding principles and rules. In effect moral philosophies facilitate sustainable global development by enforcing measures of moral conduct that ensure equitable benefit is attained by the human race without discrimination (Callahan, 2008). Human resource personnel are required following standardization on moral philosophies to ensure their hiring practices do not discriminate on individuals because of their race, physical build or political affiliations.