Values and Ethical Decision Making MGT/521 July 22, 2012 Week Three Abdelmagead Elbiali

Values and Ethical Decision Making Ethical decision-making involves considerations about our deepest values and commitments. It allows us to think about our relations to others and what we owe to them. While ethical decisions are often our highest priority, in the real world, they often have to be balanced against other concerns. For example, business concerns involve generating a profit and maximizing individual or corporate gain. One of the biggest problems for modern businesses is how to balance ethical goals with business goals. Should a company like Verizon work with Chinese companies in securing corporate goals? Chinese finds acceptable certain practices that American culture shuns, such as child labor. By working with these Chinese companies, Verizon can secure goods more cheaply and maximize corporate profit, but on the other hand, ethical principles would be violated. As individuals, we must simultaneously make ethical and business decisions. Resourceful thinking, we can formulate goals that share a considerable overlap with the goals of business and ethics. * Tina’s Decision-making Process *
Based on the outcome of the Ethics Awareness Inventory, what is the most likely decision-making process your selected team member would go through to make the ethical decision based on their values? (Tina) Verizon’s Decision-making Process “Our commitment to promote human rights values is consistent with our dedication to respect employees, value customers, strengthen communities, protect the environment and engage with stakeholders to make the right decisions for the future or our business” (Verizon, 2012, para. 5). Verizon promotes a culture of ethical and responsible business practices, as well as, strives to maintain their reputation of responsibility and trust. The decision-making process Verizon is most likely to use to make an ethical decision is the rational decision-making model. “The rational decision-making model is a series of steps managers often follow to make logical, intelligent, and well-founded decisions” ( Nickels, McHugh & McHugh, 2010, p. 186). The steps of rational decision-making include defining the situation, collecting information, developing alternatives, developing agreements between all parties involved, deciding which alternative is best, implementation, and following up (Nickels, McHugh & McHugh, 2010). The rational decision-making process is the most likely method Verizon will use because it uses a scientific approach to making business decisions. Verizon is in a position where they have multiple stakeholders with competing values. Verizon has an ethical and responsible obligation to shareholders, customers, vendors, and the communities in which they operate. “Given our global reach and extensive supply chain, it is imperative that we conduct business responsibly and ethically, maintaining our reputation for trust and responsibility wherever we operate” (Verizon, 2012, para. 1). With so much at stake, making the best business decisions possible is vital to continued success of Verizon. Conclusion In conclusion, there are many areas that need to be explored with care and diligent attention. We have two sets of concerns that we need to mind. First, we need to make sure that we make decisions ethically. Ethical concerns should never be completely abandoned simply for the sake of profit. However, since we live a world with other needs as well, including the need to make a living, ethical concerns need to be balanced with business concerns. Companies need to be able to make a profit in an ethical manner. When it comes to specific situations such as Verizon working with Chinese companies, Verizon must make sure to balance their ethical and business goals. Verizon must never violate any supreme ethical principles or rules in the process though. The resulting balance is one that strives to maximize the overlap between ethical and business goals. *

References
Nickels, W. G., McHugh, J. M., & McHugh, S. M. (2010). Understanding Business (9th ed.). New York, NY: McGraw-Hill/Irwin.
Verizon Inc. (2012). Ethics and Governance. Our Conduct. Retrieved July 20, 2012, from http://responsibility.verizon.com/ethics-and-governance/2011

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