Answer to Question #203875 in Management for Prabhdeep Singh

Question

Subject : Business Ethics and Corporate Governance

Is there a complexity of Ethics? Discuss the various conflicts in decision making from ethical and economic point of view. ( Please answer in 200 words )

Answer 1

In decision making its important to ensure that you have a lot of clarity on all decisions that are made. This means that ethical decision making for any economic decisions involves a lot of things and considerations. Ethical decision making cannot be done just like any other decision because when this happens, it leads to automatically dilemma in the decision making. In an organization perspective, it involves several people in decision making and thus means there is always some conflict of interests which is also manifested in decision making. One of the members of the organization may be willing to make some ethical decisions but may be hindered by conflict of interest of from the other members of staff. The team may reach a dilemma when looking a way forward for a course of action. On the same note, there arises some dilemma in decision making from an economic perspective where a distinction has to be made that involves values and other facts in the organization. This happens when a leader tries to review 'what is' and what ought to be. Another dilemma is seen when a manager in an organization tries to confront what is good from what is bad. This brings about difference in opinions on what ought to have been done from what has been actually done.