BUSM3115 Ethics and Governance

Article 1: Ethics and Ethical Dilemmas – A Practical Approach .

Critical Analysis

Based on the ethical theories, this article’s paragraph about “failure to ensure ethics...” (Gupta, 2019, p. 10, para. 2) is significant in relation to defining sad state of corporate ethics. This helps in better understanding of importance of ethics in business and to ensure that the right thing is done in relation to ethics.

This paragraph has been chosen to show the importance of obeying the law and to avoid behaviour offending customers or causing an outrage among the general public. It relates to the business leaders in the banks where the situation is based on showing less room for ethics in business nowadays. Also, it is important to manage ethics concerning corporate interest as it helps in encouraging all their employees and managers to follow rules and act ethically.

Ethics is defined as the standards of behaviour to which an individual hold in both professional and personal lives. It includes establishing the levels of empathy, honesty, trustworthiness, and other virtues that helps in identifying public reputation and personal behaviour. In terms of different ethics perspectives, there are normative ethical theories including teleology, utilitarianism and consequentialism, and focus on the way people ought to behave. It helps in making ethical decisions based on the reason; however, this paragraph is against the ethical perspectives that defines individuals being responsible for failure to ensure ethics is followed within the corporate management. This shows the sad state of corporate ethics, where most corporate leaders believe that ethics is to obey the law and to avoid behaviour that offends.

Within the study of ethics, the normative approach for this paragraph is virtue ethics. It is defined as an approach to ethics emphasising character of an individual as the key element of ethical thinking instead of doing one’s duty or to act in a way of bring about good consequences. It is to deal with morality and honesty of an individual while practicing good habits; an individual is the decision-maker.

Virtue ethics ensure to provide unique resources in business regarding moral thinking. Also, virtues are considered as praiseworthy traits of character that has the capacity to influence conduct along with motivational power. It involves the way virtue orientation affects attitudes in management practices and the way its understanding help in making better decisions both in relation to business success and ethically (Audi, 2012). As per the paragraph, this normative approach definitely supports the belief of corporate leaders where they can ensure not to fail in relation to ethics. According to Crisp (2015), virtue ethics is a form of deontology (non-consequentialism) that plays a crucial role in explaining to act virtuously defining the value of virtue.

Article 2: (A)moral Agents in Organisations? The Significance of Ethical Organisation Culture for Middle Managers’ Exercise of Moral Agency in Ethical Problems (Hiekkataipale & Lämsä, 2019).

Critical Analysis

The significance of this paragraph relates to the transparency which is one of the major aspects in ethics. It is “In the first place…” (Hiekkataipale & Lämsä, 2019, p. 155, 2^nd row, para. 2) defines ethical problems where managers monitored how unethical decisions remained hidden. This paragraph showed the way low transparecy appeared while silented accepted by the upper management level for increasing own general indifference of middle maangers towards ethical issues; also, it leads towards the ignorance of the consequences of ethical problems.

This paragraph has been chosen for defining increasing indifference to and suspicion concerning ethical behaviour between other middle managers. It to analyse the importance of transparency in organizational culture in relation to ethics that is revealed through the behaviours of managers. This shows the need of open, clear and frequent communication for managers to make less like false assumptions in relation to indifference.

In this paragraph, unethical behaviour among individuals has been seen where transparency is low and consequences of ethical problems are ignored. Also, this can lead towards serious consequences for both an organization and managers. It is where one’s malpractices are hidden and the other’s position acted openly against the basic ethical principles, who was not punished. This led to increasing middle managers’ own general indifference towards ethical issues as well. As per the ethical perspectives, to make decisions in necessary in relation to increasing transparency. It affects various aspects in relation to general operating standards of business, and required to make efforts through creating policies for resolving further ethical issues in business.

Normative ethical theories are defined as a group of philosophical theories describing the way people ought to behave based on the reason. The normative approach based on this paragraph defined is utilitarianism that helps in examining consequences through producing ethical decision after evaluation. Utilitarianism relates to the concept of consequences, based on an ethical action concerning an individual’s consequences achieving the greatest good for the greatest number of people. This is based on the decision by the upper level of management to ensure which manager or middle manager got helped and who got harmed. However, this approach focusing on consequences not necessarily require taking into account the means of achieving that particular outcome.

Utilitarianism helps in creating a transparent environment to be normative and positive while solving ethical issues as well. It is an important moral perspective while being both straightforward and rational approach. When it comes to unethical behaviours, as defined in the paragraph in some way, there is reducing moral emotions and increasing utilitarianism (Wang, et al., 2014). According to Gustafson (2013), utilitarianism is a broadly used as a business ethic approach that ensures to guide as best framework for decision-making benefiting the organization, upper level of management and middle managers. It also helps in directing business towards more ethical behaviour and increasing transparency. This utilitarianism is best used in relation to constantly referring negative consequences as proof of the wrongness of such events and actions along with supporting ethical principles.

Article 3: The ethics of corporate governance: An Asian perspective (Reddy, 2009).

Critical Analysis

In this article, the paragraph selected is “In essence, these companies…” (Reddy, 2009, p. 21, para. 2) is significant in relation to defining the CSR (corporate social responsibility) benchmarks, modern management techniques and corproate governance strcutures that involves importance of ethics in business overall. This paragraph defines the synergetic dualism that defines people to work together with their both mind and body that results in benefiting through a cooperative effort.

This paragraph has been chosen in relation to defining a behavioural feature of companies as per the Asian perspective including its culture as well. However, authority is not respected which is one of an ethical concern which requires to perform ones “duties” as per the cultural preferences. It is to meet the expectations of extended families, community, suppliers, kinship, customers and employees. This paragraph, in relation to ethical perspectives, include respect for authority, paternalism and social structures along with the relationship-based approaches.

When it comes to ethics, duties are defined as some acts to be right or wrong to avoid producing consequences. As a normative approach, this ethical perspective defines deontology stating the concepts of duty, obligation, right and wrong, and ought. It shows the morality of an action under the series of rules described as duty where deon as a Greek work for duty results in deontology. In relation to the paragraph, CSR has been the focus considering deontological view describing ethical actions within society. It shows driving through an obligation toward adherence to rules or duties due to their responsibility to the community, government, or various interested parties as per Asian cultural preferences.

This helps in better decision-making defining normative ethical theory of deontology. It is considered as a moral philosophy where the actions are based on the right or wrong as per the series of rules, and following the duties. Moreover, obeying these rules within actions define ethics that includes avoiding wrong things and do not do it, and doing the right thing. This is used in every aspect of performing duties consistently to meet the expectations, and maintaining trust-based relationships.  

Deontology focuses on duty concurred with the assertion of Kant believing in reason playing a key role in being moral. When it comes to the context of CSR, deontology is defined as the line with normative CSR contrasted with ethical orientations impacting the way people react concerning CSR activities. Also, effective communication is crucial to respect relationship, authority and social structures as per cultural preferences within an Asian perspective (Shim, et al., 2017). According to Vadastreanu, Maier and Maier (2015), organizations are required to comply with ethics and deontology in business along with adapting to the rapid changes. To respect ethics is important where decisions are taken while being influenced by the culture along with an ethical behaviour; also, involving the code of ethics.

Article 4: Ethical Decision Making in Times of Organizational Crisis: A Framework for Analysis (Christensen & Kohls, 2003).

Critical Analysis

The significance of the paragraph selected is based on the framework used in the article that defines ethics in crisis decisions. It is important to know the importance of ethical decision according intrinsic value to all stakeholders. This is the paragraph “We have defined an ethical decision…” (Christensen & Kohls, 2003, p. 333, para. 2) where the framework defines assoication between stress, crisis, and unethical and ethical decision.

This paragraph has been chosen to define crises as events in relation to threatening organizational survival, being ambiguous, characterised by time pressures, and having high impact. In crisis decision making, importance of ethics has been shown within the paragraph that defines behavioural effects as well along with unethical and ethical decision making within an organization. It also involved stakeholders, and relationship among crisis-imposed stress and the narrowing of stakeholder consideration. The approach is going to relate with focusing on decision making under threat, uncertainty, or crisis that effects reducing the ability of the decision maker concerning all stakeholders.  

This paragraph defines ethical egoism defining normative perspective defined in terms of holding people ought to act exclusively in their self-interest. Based on this ethical perspective, this shows the importance of teleological theories and utilitarianism. Teleology is defined while focusing on the goal of the ethical action based on an assumption where the outcome relies on an assessment of a respective outcome. The combination of both teleology and utilitarianism shows action to be good or bad along with an impact or an outcome of the action. Moreover, utilitarianism is a classical teleological theory beneficial for rational decision-making that might leads towards increasing happiness and satisfaction involving the foundation of both legislation and morality as per the paragraph.

Teleology and utilitarianism combine to benefit both organizations and individuals through attaining maximisation along with maintaining interpersonal relationship during crisis. Both theories working together drives human behaviour of an individual within an organization (Baumane-Vitolina, et al., 2016). According to Wright, Marvel and DesMarteau (2014), defines the ethical framework for decision making considering both the theories that involves situationism, subjectivism, absolutism and exceptionism to make a better moral and ethical decision-making in relation to stakeholders.

References

Audi, R., 2012. Virtue ethics as a resource in business. Business Ethics Quarterly, 22(2), pp. 273-291.

Baumane-Vitolina, I., Cals, I. & Sumilo, E., 2016. Is ethics rational? Teleological, deontological and virtue ethics theories reconciled in the context of traditional economic decision making. Procedia Economics and Finance, Volume 39, pp. 108-114.

Christensen, S. L. & Kohls, J., 2003. Ethical decision making in times of organizational crisis: A framework for analysis. Business & Society, 42(3), pp. 328-358.

Crisp, R., 2015. A Third Method of Ethics?. Philosophy and Phenomenological Research, 90(2), pp. 257-273.

Gupta, R., 2019. Ethics and ethical dilemmas–a practical approach. Vinimaya, 40(1), pp. 5-19.

Gustafson, A., 2013. In defense of a utilitarian business ethic. Business and Society Review, 118(3), pp. 325-360.

Hiekkataipale, M.-M. & Lämsä, A.-M., 2019. (A) moral agents in organisations? The significance of ethical organisation culture for middle managers’ exercise of moral agency in ethical problems. Journal of Business Ethics, 155(1), pp. 147-161.

Reddy, Y. R., 2009. The ethics of corporate governance: An Asian perspective. International Journal of Law and Management, 51(1), pp. 17-26.

Shim, K., Chung, M. & Kim, Y., 2017. Does ethical orientation matter? Determinants of public reaction to CSR communication. Public Relations Review, 43(4), pp. 817-828.

Vadastreanu, A. M., Maier, D. & Maier, A., 2015. Is the success possible in compliance with ethics and deontology in business?. Procedia Economics and Finance, Volume 26, pp. 1068-1073.

Wang, L., Zhong, C.-B. & Murnighan, J. K., 2014. The social and ethical consequences of a calculative mindset. Organizational Behavior and Human Decision Processes, 125(1), pp. 39-49.

Wright, E., Marvel, J. E. & DesMarteau, K., 2014. Exploring millennials: A surprising inconsistency in making ethical decisions. Journal of Academic and Business Ethics, 9(1), pp. 1-14.

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