Ethical Decision Making

Briefly discusses the business decision making process when considering ethical dilemmas.

This paper explains that the process in reaching ethical decisions is a common concern for the business manager. It discusses the importance of such a decision and how improper ethics can affect the business at every level.
“Four approaches that business owners commonly use to analyze ethical dilemmas are the utilitarian approach, which focuses on taking the action that will result in the greatest good for the greatest number of people; the moral rights approach, which is concerned with moral principles, regardless of the consequences; the universalist approach, in which one determines whether a particular action should apply to all people under all circumstances and whether you they would be willing to have someone else apply the rule to them; and the cost-benefit approach, which balances the costs and benefits of taking versus not taking a particular action.”