Ethical Decision Making Frameworks. Read the article below, find an example in the media – online or in a magazine/newspaper of an example of unethical practice by a company and describe how using this framework could prevent unethical action.
Read the article above, find an example in the media – online or in a magazine/newspaper of an example of unethical practice by a company and describe how using this framework could prevent unethical action. Make sure to share the link to the company you choose in your response.
In the article https://saylordotorg.github.io/text_human-relations/s09-02-making-ethical-decisions.html the authors discuss how to make ethical decisions using different frameworks. The frameworks discussed in this article are Ethical Systems, Ethical Dilemmas, Moral Development, Utilitarianism, Rights and Virtues. Each of these frameworks have different approaches but have a similar goal: to help a person make an ethical decision.
The company I chose to use as an example of unethical practice is Wells Fargo. In this article they talk about the company’s unethical business practices and how even though they made $22 billion dollars in revenue they still opened fraudulent accounts on behalf of their customers. They also mention that employees pressured each other and customers into opening these accounts which is considered unethical because it was against their will.
The framework that can be used for this situation is the Ethical Dilemma Framework because it allows for more than one answer to a question and does not necessarily mean that one method will be better than another in all situations. In this situation Wells Fargo would have to decide if it was more important for them to make money or keep their customers happy (B1).
The framework of the book “Ethical Decision Making in Marketing” by Joanne K. Coles is a useful methodology for developing ethical decision making in organizations. Using this framework, marketers can avoid unethical practices by ensuring that they are doing what is right for their customers. This frame work consists of four key areas including: ethics, law, risk management and character.
Ethics is the consideration of moral principles, values and rights. Laws are defined as a system of rules enforced through a set of official institutions. Risk management involves the assessment of risks and the setting of strategies for minimizing them. Character refers to the qualities and personality traits of the individual who decides what is right or wrong.
The first area that should be considered when using this framework is ethics. When considering an issue from an ethical perspective, it is important to understand different perspectives and values. When marketers develop products and services, they must consider moral principles such as fairness and justice (Coles, 2014).
These principles should be applied to every aspect of marketing including information about products and services, pricing structure and marketing communications (Coles, 2014). To avoid unethical actions, marketers must ensure that their decisions align with these values.
Secondly, since laws govern most aspects of marketing activities, it is important to be aware of different laws that could affect the marketing process. For example, marketers should know what constitutes false or misleading advertising and how not to violate these laws (Coles, 2014). Thirdly, it is important for marketers to understand how their actions can impact society as a whole. When developing products and services, marketers should consider whether they are meeting the needs of society at large or just those of their customers.
The four ethical decision-making frameworks presented by the Association to Advance Collegiate Schools of Business (AACSB), the international accrediting body for business schools, are intended to act as a guide in choosing the most appropriate approach for any given situation. In a complex world, these frameworks can be applied in a variety of situations and are flexible enough to fit different contexts.
As an example, we will use a recent case of unethical behavior by a company. The news article “The Story Behind the $400 Artichoke Dip” by Leslie Patton on Forbes.com provides an example of unethical practices by a corporate chain restaurant. The unethical practice being described is the overcharging of patrons who order appetizers that are listed on the menu as being free or at least affordable.
The company’s response to this criticism is cited in Patton’s article: “While our policy allows guests to order appetizers they do not want, we know that some guests have been charged for items they did not order.”
This response emphasizes that their policy allows such actions and that their servers are at fault for the mistake instead of taking personal responsibility for the error.
The first framework discussed in the AACSB article is Moral Decision Making, which focuses on moral principles that guide what is acceptable and unacceptable behavior. This framework is used to determine what makes a decision ethical or unethical and can be applied to the situation at hand. In this case, there are two main principles that come into play: respect for others’ rights and doing no harm.
One of the most important skills to cultivate in your professional life is the ability to make an ethical decision. As it’s impossible for a business owner or CEO to be aware of every single aspect of their company, as well as know what every single employee does at any given moment, it’s important that everyone has a framework for making ethical decisions.
This can help you avoid situations like the one where Wells Fargo employees were creating fake accounts and writing phony customer reviews on websites like Yelp and Glassdoor—or even more serious cases, such as when Volkswagen was discovered to have been using software to cheat on emissions tests.
When it comes down to it, making ethical business decisions has less to do with following a set of rules than having the confidence and self-awareness to make choices that are right for your employees, customers, and business as a whole—and knowing how your own decisions can have an impact on all three groups.
SEE ALSO: Describe the organization you worked for