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Aligning Ethical Standards with Decision-Making Processes in Business Management

Analyzes the integration of ethical standards in business decision-making for responsible management.

Alexander Wilson
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Aligning Ethical Standards with Decision-Making Processes in BusinessManagementQuestion-Describe how a company's ethical standards are aligned with its decision-making approach (es) and how you would be certain that ethical decisions were beingmade.From theperspectiveof the executive suite, prioritize three of the responsibilities ofmanagement and justify your selections.Answer:-Ethical decisions differ according to an individual’s perspective. Individual views theethical decisions in his or her frame of reference or value system. Hence, ethical decisions do nothave a unique solution, but a multitude of alternatives.The main features of the decision process model include:1.Personal traits–Business decisions are made by individuals or by committees, thus theethics of business in reality is the ethics of the individuals making-up the business. Aperson’s ethics are influenced by his personal values, ego strength, field dependence,locus of control, stage of moral development, moral approbation and also by the cultureof the organization.2.Organizational culture–It is the common set of assumptions, beliefs and values thathas developed within the organization to cope with the external and internal environmentand which is passed-on to new members to guide their actions within these environment.The underlying organizational values are the core of the firm’s culture:i.Trust and respect individuals.ii.Focus on a high level of achievement and contribution.

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Business Management

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