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In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
The Potter Box is a model for making ethical decisions, developed by Ralph B. Potter, Jr., professor of social ethics emeritus at Harvard Divinity School. [1] It is commonly used by communication ethics scholars. According to this model, moral thinking should be a systematic process and how we come to decisions must be based in some reasoning.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
According to the OECD Council decision each adhering country has to set up a National Contact Point (NCP), an entity responsible for the promotion of the Guidelines on a national level. It handles all enquiries and matters related to the Guidelines in that country, including investigating complaints (referred to as "specific instances" [ 8 ...
For example, Aristotle asserts in Book II of the Nicomachean Ethics, the man who possesses character excellence will tend to do the right thing, at the right time, and in the right way. Behavioral ethics over time developed models of human morality based upon the fact that morality is an emergent property of the evolutionary dynamic that gave ...
Principlism is an applied ethics approach to the examination of moral dilemmas centering the application of certain ethical principles. This approach to ethical decision-making has been prevalently adopted in various professional fields, largely because it sidesteps complex debates in moral philosophy at the theoretical level.
Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. . Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the ...
There was a positive association between the framing effect and perceived stress and concerns related to coronavirus, indicating that these factors are influential when it comes to decision-making. However, they were not related to risk aversion. [6] This effect has been shown in other contexts: