week one assignment ORG 6520
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Ethical Decision Making
Vicky Caldwell
University of Arizona Global Campus
ORG 6520: Professional Ethics, Standards of Practice & Law
Dr. Giordano
December 18, 2023
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Ethical Decision Making
The analysis paper examines the ethical decision-making process followed by businesses.
Along with evaluating moral ethical codes requires companies to adhere to the mission statement
that defines values and morals for the upper-level management set forth by corporate chief executive officers. Code-based ethics focuses on the importance of adhering to moral rules. Virtue ethics highlights an individual’s moral characteristics while focusing on character role and
development. However, sticking to management does not interfere with moral development or character. Principle and virtue ethics play a vital role in ethical conduct. Whereas deontology and
consequentialism are based on rules that try to give us the right action, virtue ethics makes central use of the concept of character. There are various steps required to overcome ethical dilemmas such as, determining goals, collect details, determine the issues at hand, identify the alternatives, develop possible solutions, right, and good moral ethics enable individuals to implement morals (Jungers & Gregoire, 2016). As a consultant hired by Wells Fargo corporation to review, update and refresh Wells Fargo employees concerning ethical conduct. The information included in the scenario enables financial consultants to investigate why the wrong decisions were made to follow through with implementing unethical behavior. The CEO of Wells Fargo Corporation reported firing over 5,300 employees a few years ago for committing unethical financial practices. Although the Wells Fargo Company is known across the United for delivering various financial services and products through online, local, in person, and globally.
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The employees that made the wrong decisions to implement customer personal information such as birthdates, addresses, names, and social security numbers which is required to open accounts. However, during the Wells Fargo investigations which involved interviewing current employees and previous employees of the company revealed more than 2 million unapproved customer accounts were created. The Wells Fargo employee’ s revealed upper-level management instructed them to send fraudulent emails with inaccurate account pin numbers to multiple customers. Wells Fargo threatened to fire employees that refused to complete the tasks requested by upper-level management and supervisors. There were employees that refused to comply with Wells Fargo unethical demands by the company. The results of the fraudulent financial scandal involved charging current customers with actual fees. The employees of the corporation endured vital ethical difficulties which involved immoral behavior in the sales department, unwarranted release of employees and mistreatment by company leadership. The responsibility of a consultant involves integrating a solution to using a systematic approach to assist Wells Fargo corporation managers, chief’s executive officers, and board of directors in compiling a generalized lists involving alternatives to determine ways to fix the areas. The company ended up having to pay 185 million dollars in fines which led to corporate managers hiring a consultant to assist in helping Wells Fargo to come up with a solution so this does not happen again. The consultant will set up a meeting with Wells Fargo CEO and board of directors to determine a solution which enables consumers to provide feedback. The solution involves sending questionnaires to the consumers concerning their experiences while conducting business with Wells Fargo financial (Haslam & DePaul, 2019).
The data collected from the customer questionnaires enables consultants, board of directors, and the chief executive officers to determine which employees participated in creating the fake accounts.
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The questionnaires sent to the consumers enable them to add alternative information to assist the company by recommending rules that Wells Fargo can implement in the company policies. The policies implemented serve as a guide that can be integrated into the employee and management handbook with ethical codes. The Wells Fargo personnel benefit from the policy handbook with a list of ethical codes that hold employees accountable for conducting unethical business practices. The guide serves as a training manual for new and current Wells Fargo employees to review prior to hire dates to prevent the illegal ethical practices from occurring again. In addition to learning the ethical codes the handbook will include ramifications that occur
if found conducting illegal activities. The difference between mandatory and aspirational ethics are as follows: Mandatory ethics involves a minimum level of functioning at professional practice. Aspirational ethics focuses on doing what is in the best interest of your clients. The knowledge gained from the employee guidebook enables new or potential employees to learn the difference between mandatory ethics and aspirational ethics which focuses on the client’s needs versus the laws which will enables me to gain the experience required to do volunteer in my community effectively. In conclusion, the code of ethics defines professional and personal standards that define right from wrong ethical practices. The professional and personal standards
define rights, certain virtues, benefits, fairness, obligations, honesty, and devotion. Therefore following the decision-
making model ensures satisfaction of stakeholders involved in the organization.
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References
American Psychological Association. (2017). Ethical Principles of Psychologists and Code of Conduct, Including 2010 and 2016 Amendments [Web page]. Retrieved from http://www.apa.org/ethics/code/ Haslam, L., & DePaul, V. (2019). Case Study Application of an Ethical Decision-Making Process
for a Fragility Hip Fracture Patient. Canadian geriatrics journal: CGJ
, 22
(1), 7–12. https://doi.org/10.5770/cgj.22.272 Jungers, C. M., J. (2016, July 1). Authenticity in ethical decision making: Reflections for professional counselors. The Journal of Humanistic Counseling, 55
(2), 99-110. doi:10.1002/johc.12027