Ethical Decision Making
The process in which we make ethical decisions stems from something far greater than rules and regulations they have a lot to do with moral philosophies. There has been an abundance of research as to how the two are related and there are strong findings that suggest that ethics orbit around our own individual perspectives and views of others around us. The two most discussed approaches of ethical decisions arise from a cognitive approach and an interpersonal approach. Philosophers have studied ethical behavior for centuries, and most have framed it as a cognitive exercise (Honderich 1995). Many scholars believe that ethical decision making begins with being aware of what is considered ethical and acknowledging ethical issues. When a person is aware of what ethical behavior is a person can then make sound judgment about what the issues are can begin to establish intent on how to handle the situation ethically. …show more content…
Two of the most foundational constructs of the ethical judgment literature are consequentialism and formalism Per Reynolds (2006a), consequentialism is teleological or ends-based ethical decision making. It emphasizes the ‘‘end’’ or the outcome of an act and contends that the ethical act is that which optimizes or creates the greatest good or benefit. On the other hand formalism is the obligation based approach to ethical decision making. These two constructs capture the most fundamental of concerns in ethical decision-making as it pertains to consumer ethical decision and moral awareness. While consequentialism and formalism explains a lot about the process of ethical decision-making there has been additional research on how the interpersonal approach is of most importance as
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1347 Words | 6 PagesThe implementation and education of the ethical decision-making model promote moral awareness and company values that can mitigate ethical dilemmas to an extent. The aftermath was devastating for Wells Fargo not just economically but for its image. The corporation can introduce this model in training courses for new hires and current employees. Also ensuring management comprehends the prominence of ethical decisions and are aware that they are the wheels of the car, therefore, lead by example. If the corporation initially had prioritized ethical values and decision-making evaluations at every level of the business, this scandal could have been prevented at least its magnitude.
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