Essay On Business Decisions
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In the current times, doing the right thing is increasingly turning out to be more difficult than before. Some people no longer understand what the best thing is. Things are no longer clearly distinguishable since there are many grey areas in the decisions arrived at by players in the business world (Kline, 2010). However, for the purposes of this paper, the best decision is any decision that will leave the stakeholders of a business in a better position than they were in before the resolution was made.
This is imperative of the people that do the right thing to adhere to all the codes of ethics that people have to follow (Sharp, 2006). Such circumstances are applicable in the event that a company has to choose between maximizing the shareholder value and having a positive impact on the society. According to Jennings (2012, pp. 33), “… the decision is costly to shareholders at first… enjoyed the reputation of environmental responsibility….” This is an example of common conflict between the attainment and maintenance of profitability and the realization of corporate social responsibility
Nonetheless, people are rarely open to the traditional methods that symbolize the best ideas. “Less well recognized among the effects of global interdependence cease the way traditional boundaries between the business and politics become blurred…” (Kline, 2010 pp. 1) In the latter statement, Kline seeks to indicate the increase in grey areas in the society.
People are more inclined to following their own lines that do not adhere to the heuristics of the managing business (Kline, 2010). The improvisations that people make in their decision making process are endeavoring to avoid the costs that they would otherwise incur in the event that they arrived at the decision through conventional methods (Sharp, 2006). The change in attitude towards success incites people to make business decisions without caring about the means. Hence, people have different definitions of the best thing (Jennings, 2012). The myriad definition of the best thing coupled with an end-oriented approach to choices makes it hard to do the right thing in decision making.
Damon, W. 2004. The Moral Advantage. San Francisco: Berrett-Koehler Publishers.
Jennings, M. 2012. Business ethics. Australia: South-Western, Cengage Learning.
Kline, J. 2010. Ethics for international business. New York, NY: Routledge.
Sharp, D. 2006. Cases in business ethics. Thousand Oaks, Calif.: Sage Publications.