Ethical issues in Management and Decision Making: A priority in MBA Program in UTTAR PRADESH

Effectively managing ethical concerns can be difficult for management personnel and human resources (HR) experts. Even though there are laws in place to hold people accountable, unethical behavior can still happen at work, and a company can also act unethically. Understanding the potential ethical issues, a company may encounter as a manager or HR professional can help you get ready to handle them successfully should they occur. In this article, we examine the definition of ethical issues in management, look at a few examples, and talk about how to handle them.

Ethical issues in Management:

Business ethical concerns occur when a decision, action, or circumstance goes against the organization’s or society’s ethical standards. Since others may question their behavior from a moral perspective, both organizations and individuals might become entangled in ethical issues. Diversity, compliance, governance, and compassionate decision-making that are in line with the organization’s basic principles are all complex ethical challenges.

Ethical conflicts can be dangerous to an organization because they can imply noncompliance with relevant legislation. In some cases, ethical issues may not have legal consequences but may elicit a negative reaction from third parties. When there are no norms, it might be difficult to manage ethical issues successfully. As a result, as an HR or management professional, you can develop policies that will guide employees in making the right decision when faced with moral issues.

Why is teaching ethics and ethical issues to MBAs so important?

When we make decisions and decide how to act, we are guided by ethics. In business, ethics are the moral norms that govern how organizations deal with their employees, customers, shareholders, and the general public.

Managers make decisions that affect their entire organisations on a regular basis. Their decisions have an impact not just on their own jobs and livelihoods, but also on the organization as a whole, including workers, customers, and the community in general. Management ethics is a critical component of protecting individuals and organizations from the harmful effects of improper managerial decision making.

What is Decision Making in Management?

A decision is the end result of a process in which one selects from two or more possible alternative courses of action in order to achieve a goal (s). The procedure is known as decision making. Managerial decision making is identical with the entire management process.

To demonstrate the concept, consider the critical managerial function of planning. A series of decisions must be made during the planning process, such as what should be done? When? How? Where? Who is it? As a result, planning involves decision making.

The study of ethics is an important aspect of an MBA program because ethical dilemmas arise on a daily basis in business. Consideration and discussion of ethics in an academic setting enables business leaders to make ethical decisions in the workplace.

Making decisions is often a component of other management activities such as organizing and controlling. A decision is a deliberate act in which a manager forms a conclusion on what must be done in a specific scenario. A decision is a plan of action chosen from among several possible options.

Decision making requires two or more alternatives because there is no decision to be made if there is only one alternative. A decision is an action or inaction chosen to suit the needs of a solution (i.e., problem). Decision can also be defined as a decision reached by a manager in order to determine what he (or others) should do in the future (or later on).

If the decision is to be appropriately oriented in terms of goals, the future must be seen at least in generality. Decision making is an intellectual activity since it requires both judgement and imagination to choose one option among many.