Using one of the models or framework of your choice, write a 2-3 paragraph reflection about a recent ethical decision you have made. Explain how you went through the process of making a sound ethical decision.

Identify the strengths and weaknesses of each ethical model presented in section 3 (pp. 189-196).

The section that talk about it :

Ethics is defined as a set of values that define right and wrong. Values are standards or principles that a person finds desirable.

There are four levels of ethical issues. First, societal issues deal with bigger items such as taking care of the environment, capitalism, or embargos. Sometimes companies get involved in societal-level ethics based on their company policies—for example, not using child labor in overseas factories.

The second level of ethical issues is stakeholder issues. These are the things that a stakeholder might care about, such as product safety.

Internal policy issues are the third level of ethical issues. This includes things like pay and how employees are treated.

Personal-level ethical issues refer to how we treat others within our organization.

There are sources of personal ethics and sources of company ethics. Our personal sources of ethics may come from models we had in our childhood, such as parents, or they could come from experiences, religion, or culture. Companies use values statements and codes of ethics to ensure everyone is following the same ethical codes, since ethics vary from person to person.

We can use a variety of models and frameworks to help us in ethical decision making. For example, the Twelve Questions model encourages us to ask questions such as whom this decision affects to determine the best ethical choice.

Josephson’s model consists of seven steps. They include stop and think, clarify goals, determine facts, develop options, consider consequences, choose, and monitor/modify.

Another model discussed has the following steps: identify the problem, identify the potential issues involved, review relevant ethical guidelines, know relevant laws and regulations, obtain consultation, consider possible and probable courses of action, list the consequences of the probable courses of action, and decide on what appears to be the best course of action.

Philosophers look at ethics in a framework following a utilitarian approach, common good approach, rights approach, and the virtue approach. These approaches provide a framework for sound ethical decision making.

Social responsibility is defined as the duty of business to do no harm to society.

There are four levels of social responsibility. First is economics, or the responsibility of the business to be profitable. Second is the responsibility to meet the legal obligations; businesses must comply with the law and regulations. Next, companies have a responsibility to act ethically and morally and to choose the action that causes the least, if any, harm. Finally, philanthropic responsibility is the idea that businesses should give back—in either time, money, or goods—to the community in which they serve.

People used to believe that the relationship between social responsibility and the community was an inverse one, where if companies benefited society, it came at an economic cost to them. Recent research has pointed out that, in fact, creating shared value (CSV) actually benefits both parties and not at a cost to one or the other.