Ethics and Management Decision Making Essay -- Business Ethics

We direct always k in a flashn that heedless self-interest was bad morals We know now that it is also bad economics(Franklin Delano Roosevelt as cited in Godwin, 2008 Good Money & Quotes, 2010)1. Introduction Business Industry has witnessed the outcomes of bad moral decisions taken by parentage leaders. Enrons story is only one example of corporate scandals and cases of bad moral decisions, which has not only shaken the public trust in corporations, unless also affected the bank accounts of investors and employees. Before the bankruptcy of Enron it was included in one of the fortune 500 companies after its fraudulent accounting case the office went down to $1 (Enron scandal, 2010 PBS, 2002 Godwin, 2006 Godwin, 2008).The bad apples which create fraudulent are now facing prison terms, they are not morally bad character state they just face this because of their limited conceptual schema and simulatet consider moral values while making decisions. Mostly managers are cognise for m oral values, and they are not greedy and egoists, the underlying issue is that they have narrow perspective on a particular situation so they dont view the moral consequences of their decisions. They actually lack the ability to imagine a range of possible issues, consequences and solutions. So just because of their shorter insight they make wrongfulness moral decisions which later give undesirable impacts to society and business as well (Godwin, 2006, Godwin, 2008 Werhane and Moriarty, 2009).Business Industry has also witnessed some business leaders who have taken such a good moral decisions that result in mutual benefit to the company and wider society. Literature shows different instances of companies like Seventh Generation, fuji Xerox, or Green Mountain ... ...Werhane, P.H., Dunham, L. (2002) Moral Imagination A Bridge between morals and entrepreneurship Online. Available at http//papers.ssrn.com/sol3/papers.cfm?abstract_id=252654 (Accessed 06 March 2010).35 Werhane, P.H. ( 2006) Access, Responsibility, and Funding A Systems opinion Approach to Universal Access to Oral Health, Journal of Dental Education, vol. 70, no. 11, pp. 1184-1195. 36 Werhane, P.H., Moriarty, B. (2009) Moral Imagination and Management Decision-making Online. Available at http//www.corporateethics.org/pdf/moral_imagination.pdf (Accessed 06 March 2010). 37 Yashiro, K., Yoshida, T., Suzuki, Y. (no date) educational activity on Corporate Social Responsibility in Japanese Companies Based on a Survey 38 Young, G. (2008) Advisory Panel and Committees, Encyclopedia of Business ethics and society, vol. 5, no. 1.