Individual Factors (Final Post)

In this blog, I have tried to emphasize the important topics that belong to the subject of individual factors of the ethical decision making process. In order to provide the reader consistency, I have followed subtopics of the Chapter 6 of the Business Ethics Text Book (Ferrel, Fraedrich, Ferrel).

The following subjects were presented to you in the previous posts.

·      Framework for Understanding Ethical Decision Making in Business

·      Model of the Ethical Decision Making Process

·      INDIVIDUAL FACTORS: MORAL PHILOSOPHIES AND VALUES

·      Individual Factors: Moral Philosophy

·      Philosophies Used in Business Decisions

·      Virtues that Support Business Transactions

·      Three types of Justice provide a framework for evaluating different situations

·      KOHLBERG 's Model of Cognitive Moral Development

·      White-Collar Crime

·      Common Justifications for White-Collar Crime

As a summary, moral philosophies and individual factors that provide principles and rules to the people were briefly presented. People mostly decide what is right or wrong with the help of these factors mentioned above. Religion, moral intensity and person’s affiliations are considered the major individual factors that affect and influence workers ethical decision-making process.

References

Ferrell, O.C., Fraedrich, J. and Ferrell, L. (2013). Business Ethics. Ethical Decision Making and Cases. 9^th Edition.

Common Justifications for White-Collar Crime

White-Collar Crime

White-Collar Crime (WCC)

According to US Department of Justice a WCC is a " non-violent criminal act involving deceit, concealment, subterfuge and other fraudulent activity." These unfortunate white-collar crimes cause more damage in both financial and emotional than regular crimes.

REF:

http://www.frankmungoattorney.com/federal/criminal-law-attorney.html

KOHLBERG 's Model of Cognitive Moral Development

Three types of Justice provide a framework for evaluating different situations

Virtues that Support Business Transactions

Philosophies Used in Business Decisions

Teleology: Assumes that final causes exist in nature and stipulate that acts are morally right or acceptable if they create some anticipated result.

Egoism: Concentrates on the individuals and try to maximize a particular person’s self-interest.

Utilitarianism:  Defines right or acceptable behavior that maximizes greatest good for everybody.

Deontology: Concentrates on intentions rather that on its consequences.

Relativist: Focuses on the basis of individual and group experiences subjectively.

Virtue ethics:  Characterizes an acquired disposition that is valued as part of individual’s personality.

Justice: Assesses ethicalness on the foundation of fairness.