In the past, how have you ensured that you make ethical decisions in your own life – both personal and at work/school?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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In the past, how have you ensured that you make ethical decisions in your own life – both personal and at work/school?

Would you use something structured – like a framework – to help you in making tough decisions with ethical implications? Explain why or why not.

How would you adapt the framework that you learned for your own use?

 

Expert Solution
Step 1: Define ethical decisions

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Note: The solution is provided in a generalized way.

Individuals or organisations make ethical decisions when they are led by a set of moral principles and ideals. These judgements are usually based on what is ethically right or wrong, just or unjust, fair or unfair. Ethical decision-making is weighing the repercussions of a decision, taking into account the impact on many stakeholders, and aligning the decision with one's basic values and ethical standards.

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