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Ethical Decision making process

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1. Moral awarness, 2. Ethial Judgment, 3. Ethical behavior

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Ethical Judgment

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Characteristics of orgs group and orgs pressures

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Moral Awarness

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More likely to recognize moral issue when peers consider it more problematic, moral language is used when problem is presented, decision could cause serious harm to others.

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8 Characteristics of sound ethical decision making

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1.Gather facts 2.Define ethical issues/harm 3.Identify affected parties 4.Identify consequences 5.Identify the obligations 6.Consider your character and integrity 7. Think creatively about potential alternative actions 8.n Check your gut

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Organizational Influences A

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Ways Org influence how we apply framework in ethics

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1. Who shapes your ethical decisions? (Organizational influences A)

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Peers and superiors

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2. Pygmalion effect (Organizational influences A)

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Superior's expectations good or bad influence worker performance

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3. Rewards and punishment (Organizational influences A)

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Sends messages to org on behavior

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4. Goals (Organizational influences A)

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Can have "dark side" by attaining goals unethically

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5. Diffusion of Responsibilty (Organizational influences A)

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1. Responsibility is taken 2. shared responsibility 3. obscured by hierarchy 4. diluted

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6. Roles and Deindividuation (Organizational influences A)

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Deindividuation- loss of self awareness in group minimizing his personal responsibility by focusing on his assigned role

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Organizational influences B

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How the rules of law affect behavior

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Business law

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relationship between ethics and law. "reflecting society's minimum norms and standards of business conduct"

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1.Corporate Rules as "Law" (Organizational influences B)

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exceeds minimum requirements as imposed as state laws. Exp. Keep companies secrets, conduct code

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2.Discrimination Laws (Organizational influences B)

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Race, gender, religion Fair employment + housing act - CA residents Tidal 7 - Federal anti-discrimination law

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3.Whistle Blowing Law (Organizational influences B)

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Protects workers from "adverse action" from employers. Gives employees incentives to "blow the whistle"

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4.Federal Organizational Sentencing Guidelines (Organizational influences B)

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Orgs can't be imprisoned but they can be fined. Capability score 1-10 starts at 5 Base fine use carrot/stick approach

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Cognitive Biases (people arent aware)

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individual charteristics

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1. Fact Gathering (Cognitive Bias)

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over confident about knowledge of facts. to avoid think of ways you could be wrong or biased

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Confirmation Trap

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Once info is gathered in a fact gathering cognitive bias you confirm that it's the right data when its not.

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2. Looking at Consequences (Cognitive Bias)

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Reduced # of consequences consequencing for self vs others - we care about ourselves. consequences as risk- illusion of optimism, illusion of control

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2. Escalation of Commitment (Cognitive Bias) avoiding looking at consequences

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Invite input! especially from those who disagree. Take safe guards

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3. Integrity (Cognitive Bias)

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people tend to have illusion of superiority Business codes or could mess up integrity

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Individual Differences (things that are stable in personality)

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Kolhberts model 6 stages

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1.Level of Moral Development (Individual differences)

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level 1: Rewards/punishments, exchanges level 2: shared norms, societal obligations level 3: principled, autonomous level 4: Theory, autonomous human being

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2. Locus of Control (Individual differences)

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People are either internals or externals. Internals takes responsibility? and externals blame others.

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3. Ego Strength (Individual Differences)

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Somebody who has healthy ego is more likely to behave ethically

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Desired Moral Approbation (DMA)

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"Desire for moral approval from oneself or others" Levels vary on individual 3 types - others blame, others praise self.

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Prescriptive approach of ethical behavior

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derived from ethical theories in philosophy offers decisions making tools to help male ethically right decisions. How should people do it

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Descriptive approach of ethical behavior

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focuses on particular ; individuals think and cognitive limitations that often keep people from making best decisions.

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Utilitarianism (consequentist theory/moral judgment)

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Best known principle of utility Decision rule- to maximize the common good pro- inserts science/ looks at all consequences con- means dont matter

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Consequentialist theories

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focus attention on the results or consequences of the decision or action

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Robert Zozick Rights (Deontological theory/moral judgment)

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Focuses on duty not consequences Decision rule- freedom from force and fraud pro-complete freedom of action with minimal government intrusion con-disregard of interests of others with a stake in behavior absence of fraud and force ethically minimalism

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Deontological theory

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Duties obligations + principles base theory about whats right on broad abstract universal ethical principles values such as honest, fairness, loyalty. ect focuses on what is RIGHT

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Golden Rule (Deontological theory)

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Do onto others as you would have them do onto you

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Categorical imperative (german philoshper emmanuel kant)

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Act as if the maximum of thy action were to become by the will a universal law of nature

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Stake holder

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Someone with interests/ share primary shareholders- formal relationship secondary shareholders- no formal

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Virtue ethics

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decision makers knows actions are ethical if actions are guided by characteristics of higher role models

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John Rawls Justice theory (Deontological)

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Duty Based Decision rule- greatest benefit to the least-advantaged pro-unbiased approach to social justice e con-denies free will, meritocracy

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Veil of ignorance (rawls justice theory)

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Not used for decison making

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Disclosure rule

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Are you comfortable disclosing conduct to news paper?

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"liar loans"

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no proof of income/ emplyment needed to purchase houses

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Financial diaster of 2008

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Lowered federal funds rate- rate banks charge each other real estate flipping bubble rating agencies didnt do there job/auditors

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Credit default swap

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Insurance contracts that protect holder against an event of fault on the part of the debtor

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LIBOR

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london interbank offered rate

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cyniscm

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a general distrust

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BRIC developing nations

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brazil, russia. india, china

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consumer trust

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the degree to which consumers trust orgs has direct impact on their buying patterns and more

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bad apple theory

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people are good or bad and orgs are powerless to change these people

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