Ethical Decision Making and Contemporary Managers Essay

Ethical Decision Making and Contemporary Managers - prove ExampleThe Enron scandal a few years back and the JP Morgan failure are merely tips of the berg in the sense that they clearly point towards the fact that many another(prenominal) times the managers in the corporations, moved by self-interest or a more than rational commitment to the shareholders, do end up resorting to un honest decisions which in the considerable run have a very destabilizing impact on the economy and the society. Hence, single big challenge facing the managers serving the corporations is to resort to honest decision making in their daylight to day professional conduct, irrespective of the pulls and pres veritables they are always vulnerable to. As per the Oxford Advanced Learners Dictionary, ethics mean moral principles that control or influence a persons mien (518). Going by the fact that managing corporations is a job that is about allocation and distribution of resources, exercise and delegation of legal and financial power, sharing and concealing of information, there is no denying the fact that contemporary managers do many times come across bits which could press them to waver from the established principles and ethics (Pava 17). The ethical challenges faced by managers within an organization could be of many types. For instance, many times the managers have to face a situation which requires them to strike a balance between reducing running costs and the health and safety of the employees. Here, a manager gave to ethical decision making while never cut upon the expenditure that assures the safety and public assistance of the employees. ... Also, for instance, in the present age of technology and IT revolution, managers are required to respect the information pertaining to customers, while at the same time resorting to an optimal use of the available information to maximize sales and profits. No wonder, these calls for a dedicated ethical decision making and the weighi ng of the decisions taken in the light of the set ethical benchmarks. As employees, shareholders and customers expect the companies to be ethical and above board, a failure of the management in this battlefield my mar the reputation and viability of a corporation in a serious way. Going by this, the almost important question that comes to mind is that what can the managers do to act in an ethical way? offshoot and foremost, a manager, to be able to act in an ethical way must have an privileged map dedicated to ethical decision making. If a manager adheres to any religion, it is really good as it could serve as a source of deciding as to what is right or wrong. However, managers who are not given to religious affiliations could also draw inspiration from the available secular sources to develop a person-to-person ethical compass that could guide them during their course of decision making. The next thing that could go a long way in promising ethical decision making on the part o f the managers is that corporations should make sure that junior managers do always have access to senior mentors within the organization who have a reputation for ethical decision making (Sims 209). This will allow the young managers to have a pragmatical exposure to the challenges involved in ethical decision making and will prepare them to be the leaders of the future. Besides, in their day to day working, the senior management should make it a point to encourage ethical