Ethical decision-making in business
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Ethical decision-making in business
Ethical decision-making in business is a crucial aspect that influences the long-term success and sustainability of organizations. It involves making choices that align with moral principles and values, considering the impact on stakeholders, and promoting transparency and integrity. Ethical decision-making in business encompasses various dimensions, such as fairness, accountability, social responsibility, and respect for individuals and the environment.
One fundamental principle of ethical decision-making in business is fairness. This means treating all individuals involved in a business transaction equitably, without discrimination or bias. Fairness involves ensuring that decisions are based on merit and objective criteria rather than personal relationships or preferences. For example, when hiring employees, it is important to evaluate their qualifications and skills objectively, rather than favoring a friend or relative. Fairness also extends to pricing strategies, ensuring that customers are not exploited or subjected to unfair pricing practices.
Accountability is another essential element of ethical decision-making. Businesses have a responsibility to be accountable for their actions and the consequences they generate. This involves taking ownership of mistakes, rectifying them, and learning from them to prevent future occurrences. Accountability also entails being transparent in financial reporting, ensuring that stakeholders have access to accurate and reliable information. By being accountable, businesses build trust with stakeholders and contribute to a sustainable and ethical business environment.
Social responsibility is a critical aspect of ethical decision-making in business. It involves considering the broader impact of business actions on society and the environment. Businesses have a responsibility to contribute positively to society, beyond simply maximizing profits. This can include initiatives such as philanthropy, environmental sustainability practices, and fair labor standards. Socially responsible businesses strive to minimize negative externalities, such as pollution or exploitation, and actively seek to create a positive impact on the communities in which they operate.
Respect for individuals and the environment is another key component of ethical decision-making. It means treating employees, customers, suppliers, and the environment with dignity and care. Respecting individuals involves providing a safe and inclusive work environment, fostering diversity and equal opportunities, and ensuring fair treatment and respect for human rights. Respecting the environment involves adopting sustainable practices, minimizing waste and pollution, and considering the long-term ecological impact of business operations.
To make ethical decisions, businesses can utilize ethical frameworks or models that guide the decision-making process. One such framework is the Utilitarian approach, which seeks to maximize overall well-being by considering the consequences of actions for all stakeholders. Another framework is the Deontological approach, which focuses on adhering to moral principles and duties, regardless of the outcomes. Additionally, the Virtue ethics approach emphasizes the development of moral character and the cultivation of virtues in decision-making.
However, ethical decision-making in business can be complex and challenging. There are often conflicting interests and pressures, such as the pursuit of short-term profits versus long-term sustainability. In such cases, business leaders must prioritize ethical considerations and make decisions that align with their core values and principles. This requires courage and integrity to resist unethical temptations and maintain ethical standards.
Moreover, promoting a culture of ethics within an organization is crucial for ethical decision-making to flourish. Businesses should establish a code of ethics that articulates their values and expectations, and provide training and support to employees to understand and apply ethical principles in their work. Leaders must lead by example and foster an environment where ethical behavior is recognized, rewarded, and celebrated.
In conclusion, ethical decision-making in business is an integral part of responsible and sustainable business practices. Fairness, accountability, social responsibility, and respect for individuals and the environment are key pillars of ethical decision-making. By prioritizing ethical considerations and promoting a culture of ethics, businesses can contribute to the greater good and build trust and long-term success. Ethical decision-making is not only the right thing to do, but it also enhances the reputation and value of businesses in an increasingly conscious and interconnected world.
Ethical decision-making in business
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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