Topic > Management Ethics - 1607

Management Ethics In today's fast-paced business world many managers face difficult decisions when walking the fine line between what is legal and what is socially unacceptable. It is becoming increasingly important for organizations to consider many more factors, especially ethical ones, beyond profit maximization, to be more competitive or even survive in today's business arena. The first part of this essay will discuss management ethics[1] and the relevant concepts and theories that influence ethical decision making, such as theories of utilitarianism, individualism, moral rights approach, organizational social responsibility towards stakeholders and their responses to social requests. , with specific reference to a case study presenting an ethical dilemma[2], in which Mobil stops selling products to a garage, forcing the garage owner to stop selling solvents to young people. The second section of this essay will focus on advice that should be given to any manager in a garage-like position with relevance to organizational strategic management, corporate objective and evaluation of corporate social performance through economic, legal, ethical. and discretionary responsibilities. It will talk about who to consider as stakeholders and why a different aspect might cost more than a manager or organization could have imagined. Many managers and organizations make the mistake of assuming that what is wrong is illegal and what is legal is right and if it is legal it must be ethical. Yet many ethical dilemmas confront decision makers where right and wrong cannot be clearly identified. They involve conflicts between interactive parties: “the individual versus the organization or society… center of paper… rd Freeman, Andrew C. Wicks, Bidhan Parmar (2004). Stakeholder theory and “The corporate objective revisited”. vol. 15, no. 3, May-June 2004, pp. 364-369-----------------------[1] Ethics is defined as “the code of moral principles and values ​​that govern a person's behavior or a group regarding what is right or wrong” (Samson and Daft, 2005, p.158)[2] An ethical dilemma is defined as “a situation that arises when all alternative choices or behaviors have been deemed undesirable due to of potentially negative ethical consequences, making it difficult to distinguish right from wrong” (Samson and Daft, 2005, p.158)[3] The accommodating response is defined as “a response to social demands that the organization accepts – often under pressure , taking social responsibility for its actions aimed at respecting the public interest” (Samson and Daft, 2005, p..172)