There are different tools which
are used for making decisions in the business environment.
First of all, ethics shows the
person’s prospective in different situation that what is right or wrong for
them. Every person has different type of moral beliefs. Ethics are not the
feeling it’s the decision which you make according t the situation what is good
for you or not. Some culture follows the
ethical value others are not follow. People can make ethical decisions
depending on the social issues.
The utilitarian Approach focused on the right things which give benefits to people,
company, individuals and others rather than the bad things. In Business you
should make those decisions which give the pleasure to their employees and
decrease the harm. With this effort of companies it increases the happiness
among their employees, employer and others and reduces the bad consequences.
Rights means you can choose anything with your
wish in their life. Basically, it represents the respect to the moral values of
the human beliefs. Everyone has the right to choose their life goals and have
control of information about their lives. In business if company wants to make
ethical decisions then there should be no interference of others with human
rights. Everybody has the rights to speak freely about their ideas.
The fairness or justice approach According to this, every person should
be treated as equally, there should be no differentiate on their religion,
caste or sex. In business decisions are based on the equality and fairness.
Women and men are treated equally in the companies because both are doing best
of them. Women should receive same salaries like man received.
The common good approach focus on all those individuals who make one society, here
they share some sort of conditions for their welfare. Because of our community
we can enjoy our freedom. In business, company is like a group of people here
the manger should take care of everything of their employees like their need,
salaries and their bonus which gives the happiness to their employees. It is
also benefit of company because if employees are happy from their jobs they do
more efforts which gives profit to company.
ethics describe the person on their individual level means that he is. This
approach plays very important role in business. Employees set their moral values
which they follow everyday both in home and at work. Virtue means honest, trustworthy,
responsibility etc those person having these virtue they are more willing to
step up on others. This is important for company to hire those people who are
work with this set of virtue ethics which are also good for company.
While making good ethical decisions first we have to
learn about it from all aspects. Everyone has their different identity so, they
make their own different ethics decisions based on their situations.