The Prescriptive Approach to Ethical Decision Making - Report Example

The paper "The Prescriptive Approach to Ethical Decision Making " is a wonderful example of a report on management. The paper primarily emphasizes the notion of a perspective approach to ethical decision-making for modern organizations. The key perspective approaches identified in the paper are utilitarian, deontological, and virtue ethics approaches. A clear description of the 8-step model developed by Trevino & Nelson has also been provided in the paper, which explains the systematic approach to be followed in the ethical decision-making process.

In addition, the perspective approaches have been explained using US companies as an example. It was identified from the research that an organization, in order to adopt a perspective approach, requires considering various factors that might tend to be complex in some situations. However, these approaches have proven to be effective for organizations in their long-term survival. The Prescriptive Approach to Ethical Decision Making Ethical decision-making has become quite important in the modern-day business environment, as maintaining sound business ethics and responsible organizational behavior increases the satisfaction level of the employees, yielding satisfaction among customers and ensuring long-run sustainability.

The main reason behind ethical decision-making gaining importance is that organizational executives have been practicing unethical actions, which ultimately are observed to hamper the organizational image in the long run. Therefore, in order to understand the influence of ethical decision-making on an organization, it is necessary to understand the concept of ethics in relation to decision-making in the modern business context (Phuong et al., 2014). In simplistic terms, ethics can be defined as behavioral standards that determine the values of deciding whether something is right or wrong and accordingly, these values or principles are accepted by individuals in a societal or organizational context.

Business decision-making is one of the most vital aspects for the overall growth and expansion of the business, which occurs in each and every level of an organization. These decisions can be defined as strategic decisions that are undertaken by the top-level management or the managers of an organization so as to meet the long-term business objectives and maintain a good relationship with the customers (Davidrajuh, n.d.). Business ethics, on the other hand, is an important concept, which directly influences the ethical decision-making process.