Preview

Moral Standars

Good Essays
Open Document
Open Document
999 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Moral Standars
The moral standards approach is the approach that focuses on three dimensions of the impact of the proposed action: (1) whether it provides a net benefit to society; (2) whether it is fair to all stakeholders; and (3) whether it is right. The moral standards approach was developed by Professor Manuel Velasquez in 1992. Although some overlap some of the first approach, the focus is less company centred, and is better suited for the evaluation of the decisions where stakeholders are the ones who are impacted, outside the company is most likely to be severe. And the long-term impact is most likely incorporated.
How might I conduct a stakeholder impact analysis be done using the moral standards approach? I might conduct a stakeholder impact analysis by seeing if the well-offness is correct for the benefits than the cost of the decision. By checking if the fairness of the distributions of benefits and burdens are equal. And make sure that the stakeholders and the decision maker’s rights are not offended.
The 5-question approach is an analytical approach that involves challenging any of the proposed policies by asking these five questions: is the decision fair? Is the decision right? Is the decision legal? Is the decision profitable? And is the decision sustainable? It does not matter how they are asked, but the first four questions must be asked to make sure that the person who is deciding does not miss an important impacted area.
How might I conduct a stakeholder impact analysis of this scenario using the 5-question approach? I might start by asking if the decision is profitable to the shareholders. The decision fair to all involved? Is the decision legal to the society at large? Is the decision right to other rights of all involved? And is the decision sustainable to the environmental rights?
And the last approach, the Pastin’s approach which is the ground rule ethics (organization individual rules and values). End-point ethics (greatest net good for all

You May Also Find These Documents Helpful

  • Good Essays

    Framework for Ethics

    • 839 Words
    • 4 Pages

    Regulations, moral values along with business ethics, form the basis of governance in the corporate world. Ethical standards should decide situations that are not expressly governed by regulation or law. Ethics is defined as standards used by companies to conduct their business operations. Standards are what define a company (Corey et al, 2011). Ethics should not be used as a sale item to the highest bidder. It would be easy for a company to ignore ethics in a bid to increase its sales and profits. It will only take such a company to deviate from its standards and tarnish its name. It is vital for a company, therefore, to adhere to standards. Standards should be the drive of any business decision. If customers realize, that a company is unable to make right decisions, the impression the company leaves to the customers may be unfavorable and changing this image may be an overwhelming task. To alleviate the burden of establishing and maintaining standards in corporations, different techniques have been set up to measure the structural and behavioral organizational ethics. Six Sigma and Balanced Scorecard are some of the models used by companies to enhance business performance and ethics.…

    • 839 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Mgt 498 Ethics Paper

    • 737 Words
    • 3 Pages

    The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business. It is the executive manager’s responsibility to establish a clear vision for the corporation and place a specific focus on understanding stakeholder’s needs. In an effort to support these requirements agendas and regulations will be developed to maintain and enforce business ethics within the organization. It is vital for an organization to establish a firm code of ethics for employees and managers to agree and adhere to equality within the organization.…

    • 737 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Ethics Virtue Theory

    • 489 Words
    • 2 Pages

    In today’s world, ethics is a very big issue that involves many different views and beliefs. Ethics has become more prevalent with the general public in today’s business world. When it comes to ethics, there are three main theories. The first is the virtue theory which is all based around virtue ethics. This is sometimes simplified into being character based ethics. It states that “to be an effective person in the world one must adopt various characteristics and habits and characteristics that others would deem as praiseworthy” (Boylan, 2009). The next theory is the utilitarianism theory which is best described as the team first theory. Utilitarianism is a theory that suggests that “an action is morally right when that action produces more total utility for the group than any other alternative” (Boylan, 2009). The third theory is the deontological theory. Deontology is a “moral theory that emphasizes ones duty to do a particular action just because the action, itself, is inherently right and not through any other sort of calculations-such as the consequences of the actions” (Boylan, 2009). This is a basic overview of the three basic ethics theories that exist today.…

    • 489 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Ethics Paper Wk.2

    • 673 Words
    • 3 Pages

    The purpose of this paper is to explain and define the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. This paper will include an example of a corporation overstepping ethical boundaries for stakeholder agendas, and what type of preventative measures were used to avoid to the situation.…

    • 673 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Organizational Ethics

    • 8003 Words
    • 33 Pages

    When talking about ethics in organizations, one has to be aware that there are two ways of approaching the subject--the "individualistic approach" and what might be called the "communal approach." Each approach incorporates a different view of moral responsibility and a different view of the kinds of ethical principles that should be used to resolve ethical problems.…

    • 8003 Words
    • 33 Pages
    Better Essays
  • Powerful Essays

    Each person has a set of personal values and morals that they hold themselves accountable to, whether for religious reasons or the result of years of environmental conditioning. These standards of behavior often go above and beyond the laws set in place by government. Just like individuals, a business entity chooses a standard of moral behavior to uphold. A difficult task to undertake, considering businesses are comprised of people with varying behavioral standards, but a necessary one nonetheless. Businesses are required to act with a moral minimum, defined as the minimum degree of ethical behavior expected of a business, or more specifically, compliance with the law . Most businesses go above this moral minimum however, weighing decisions beyond profitability and legality, and analyzing what constitutes right and wrong behavior. With information rapidly available to investors, social responsibility is in constant check. Going above the standards set by law can actually increase profitability, ease capital attainment, and in turn, increase the stock price. In a world where environmental concern is mounting, businesses are being called to act righteously and hold itself to the highest standard: that of natural law. In this paper, the concept of moral minimum will be further developed through the work of Hart, a positive and natural law theorist, accompanied by an analysis of the responsibilities facing business today, specifically the standards they should hold themselves to.…

    • 1382 Words
    • 6 Pages
    Powerful Essays
  • Best Essays

    Keeping an honest code of ethics can ensure that a company achieves their missions, visions, and general objectives in a manner that can provide a solid framework for years to come. Ethics can also assist in ensuring guidelines are being made to bind an organization by a common thread and interests that guide employers and employees to avoid straying from the intended path of the company. Another element of today’s current strategic planning process is corporate social responsibility or CSR. This is when managers confront different situations of increasing demand from stakeholders. The specific demand has been marked by many claims that link themselves to corporate social responsibility of an organization’s projected profits, in the media and many other faucets, such as up-and-coming international CSR organizations. The motivation of this is clear; if a positive CSR is present, and a financial performance relationship is identified; companies will be…

    • 1850 Words
    • 8 Pages
    Best Essays
  • Good Essays

    Moral Reasoning

    • 1353 Words
    • 6 Pages

    Business ethics is the behavior that business sticks to in its every day relations with the world. However, it applies not only to how the business interacts with the world in whole, but also to dealings with a single customer and even to internal actions. Every organization should include good business ethics. Moral reasoning is integral part of business ethics. L. Kohlberg determined three levels of moral development that consists of six stages. The stages of Kohlberg 's model relate to the qualitative moral reasoning adopted by individuals. According to this model, a person can not skip any stages and make headway sequentially. So, in this essay I will analyze Kohlberg 's levels of moral reasoning, my own development concerning this model, how to reach the highest stage and how internal culture of organization influence moral reasoning of its employees.…

    • 1353 Words
    • 6 Pages
    Good Essays
  • Good Essays

    The ethics theories table is a discussion of several ethical theories. In this paper I will discuss the duty-based ethics, goal-based ethics, right-based ethics, and human nature ethics. I will define each theory and match the real-world examples and establish workplace examples. Ethics Theories Table Real-World Examples:…

    • 674 Words
    • 3 Pages
    Good Essays
  • Better Essays

    When big changes happen within an organization, ethical behavior becomes an issue for some people, and the organization must develop a strategic plan to protect its shareholders. Even though an organization 's primary goal is to increase profits for shareholders, behavior of that company is looked upon by the public. The role of ethics plays an enormous part in social responsibility. Social responsibility is the way an organization gives back to its community. There are many ways an organization could be socially responsible, whether it 's donating time or money. Since the shareholders can vote on strategic plans, a stakeholder analysis would be beneficial when considering his or her needs and agendas. A stakeholder 's analysis identifies the impact a particular stakeholder has in the business, and whether he or she should be involved in that strategic decision (Wheelen & Hunger, 2010). The importance of ethics and social responsibility in developing a strategic plan are to be prepared for any conflicts that can occur in the…

    • 1088 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Moral reasoning

    • 978 Words
    • 3 Pages

    Moral reasoning is individual or collective practical reasoning about what, morally, one ought to do. For present purpose, we may understand issues about what is right or wrong, virtuous or vicious, as raising moral question.…

    • 978 Words
    • 3 Pages
    Better Essays
  • Satisfactory Essays

    Aig Bailout

    • 420 Words
    • 2 Pages

    References: Rainbow, C. (2002, 2002). Descriptions of Ethical Theories and Principles. Retrieved 2002, from www.bio.davidson.edu/people/kabernd/Indep/carainbow/Theories.htm…

    • 420 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The code of ethics of Miles Enterprises will be audited using the Triple Bottom Line approach. The Triple Bottom Line considers the environmental, social, and financial impacts that have an effect on corporate decision making (Ferrell, Fraedrich, & Ferrell, 2013). Triple Bottom Line offers various tools that note financial outcomes while monitoring an organization’s growth capability progression (Ferrell, Fraedrich, & Ferrell, 2013). As part of the employee orientation employees are introduced to corporate social responsibility and the expectations of the company and its employees. Miles Enterprises implemented a training and development program based on ethics and moral philosophies as they pertain to social responsibility.…

    • 2565 Words
    • 11 Pages
    Good Essays
  • Better Essays

    Moral Judgements

    • 865 Words
    • 4 Pages

    Jakob Bronowski's book, "Science and Human Values" argues that the scientific method of inquiry into reality provides a generally applicable foundation for moral judgement. Bronowski says, "in order to keep the study in a manageable field. I will continue to choose a society in which the principle of truth rules. Therefore the society which I will examine is that formed by scientists themselves: it is the body of scientists" (Bronowski 58). Bronowski makes it clear in his book that he is going to base his study on scientists. There are five steps in the scientific method of inquiry into reality. The first one being Observation, the second is Hypothesis, the third is Experiments, the fourth is Theory, and the fifth being Publishing.…

    • 865 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Ethical Standards

    • 129 Words
    • 1 Page

    Ethical standards and integrity has become increasingly important for a company’s long-term success. Ethics is an individual’s moral judgment about right and wrong. Immanuel Kant believed that everyone could decide right and wrong based on the will behind the action. When trying to decipher if an action is moral or not, one should consider what the universal benefit would be if everyone behaved in such a fashion. For instance, if everyone stole, it would result in chaos and violence. Friedrich Engels and Karl Marx, however, didn’t believe in a universal code of ethics. They perceived that all ethics and philosophy are relative to the economic situations of each individual society. Each society would therefore create its own system of ethics that’s relative to their environment.…

    • 129 Words
    • 1 Page
    Satisfactory Essays

Related Topics