Unit 2 IP

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Colorado Technical University *

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Feb 20, 2024

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Running head: ETHICAL DECISION MAKING IN BUSINESS 1 Unit 2 Individual Project Juan Borrego INTD670-1804B-01 Professor Randi Barnes Plante Colorado Technical University

ETHICAL DECISION MAKING IN BUSINESS 2 Abstract There can be many situations in business where decisions must be made with some amount of hesitation. Some people are comfortable making those types of decisions without a second thought. While others may might require some time for the decisions to be ethically correct in the end. These are decisions that can not only jeopardize a person’s career but can jeopardize the stability and reputation of an entire organization. This paper will discuss ethical decisions in business.

ETHICAL DECISION MAKING IN BUSINESS 3 Unit 2 Individual Project Part I Applying Rational Choice Model According to the Rational Choice Model M.U.S.E. lesson, “this model focuses on the process of how to make good choices or decisions, rather than on the nature of the choices or decisions” (Colorado Technical University, 2018) The rational choice model is an economic principle that provides focus on decisions that are individual decisions that are made which are in the best interest of an individual. In business, partnerships are essential to help the organization with day to day operations and generating revenue for both parties. Therefore, Joe’s best decision is to accept the invitation from Bill and attempt to use it to his advantage. Bill’s invitation in this case would be essential for his hotel securing a good vendor. In what ways do you agree or disagree with the result of applying the rational choice model? I would have to agree with the rational choice model in this case. Joe feels that he is under pressure to deliver business solutions and when the opportunity to network with Bill arises, he cannot pass that up. Joe can use this opportunity to not only improve his relationship with Bill but also to focus on the future needs of the business. Being able to maximize the situation is important in creating better decisions. In this case, even though Bill invites Joe for a family weekend, there is an opportunity to strengthen his bid. According to the rational theory, the decision is aimed at ensuring the Joe achieves his target, regardless of the existing situation with Bill.

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ETHICAL DECISION MAKING IN BUSINESS 4 Part II What ethical theory supports the response to this invitation that you recommend to Joe? The ethical theory that would best support this case is the virtue ethics theory. The virtue ethics theory emphasizes the importance of acting virtuously (in an appropriate manner) in a variety of situations. This provides a greater level of focus on an individual character and knowing the difference between what is ethically right and wrong. (Bonde, 2011) Why would you use this theory? This theory is key in defining the relationships that exist among individuals. With all the pressure that Joe is under, he needs to ensure that he has a positive interaction with Bill. Joe must achieve a high level of respect from Bill in order to maintain not only a business relationship but also an external friendship. Any decision that Bill makes should be respected by Joe based on the virtue ethics theory. What is an alternative recommendation, applying a different ethical theory? An alternative recommendation, would be the utilitarianism theory. This theory shows that the best action is the one that has the greatest good for the greatest number of people. (Colorado Technical University, 2018) Joe decided in this case that should help him improve the relationship he has with Bill. By him making that decision, he set his organization up with an opportunity for business. As long as Joe makes decisions that are morally correct, it should not make too much of a negative impact.

ETHICAL DECISION MAKING IN BUSINESS 5 Compare and contrast your recommendation with the alternative. An aspect to consider would be the need to ensure that that actions that are being undertaken is ethical. It is important that Joe not lead Bill into situations that could lead to difficult moral dilemmas. When considering the two ethical theories, I believe that the virtue ethical theory would be the best one to go with. It seems to be the most effective when addressing the ethical needs in the relationship between Joe and Bill.

ETHICAL DECISION MAKING IN BUSINESS 6 References Bonde, S. (2011). Making Choices: Framework for Making Ethical Decisions. Colorado Technical University. (2018, November). M.U.S.E. Retrieved from Ethical Theory. Colorado Technical University. (2018, November). M.U.S.E. - The Rational Choice Model. Retrieved from Colorado Technical University: https://class.ctuonline.edu/_layouts/MUSEViewer/Asset.aspx? MID=13502932&aid=13502954

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