100%(4)4 out of 4 people found this document helpful
This preview shows page 1 - 3 out of 7 pages.
Running head: MY LIGHT AND SHADOWSMy Light and Shadows: Ethical Business Decision Making Madeleine Offenhauser MGMT-512: Ethical and Legal Aspects of Management Indiana Wesleyan University 16 September 2019 1
MY LIGHT AND SHADOWS My Light and Shadows: Ethical Business Decision MakingA significant challenge in the world of business is today is how to respond when faced with an ethical business decision. Does one respond in a way that benefits themselves when they know that there will be no consequences? Does one evaluate their morals to help make the best decision? The Caux Round Table for Moral Capitalism and James White’s “biblical principles” are two sets of guidelines to ensure the best ethical decision is made. The Caux Round Table for Moral Guidelines are a set of guidelines to follow in business dealings that will improve society versus the person; these guidelines are based upon the thought that positive and product conduct cannot be ensured through market forces nor the law (Caux Round Table for Moral Capitalism, n. d.). James White’s “biblical principles” are a set of guidelines rooted from the teachings of theBible; these principles all refer to the idea that God is ultimately who we serve and who will holdus accountable at the end (White, 1978). Although the two sets of guidelines differ, there are also similarities.Comparison of GuidelinesThe Caux Round Table for Moral Capitalism and “biblical principles” were both created to follow ethical and moral principles in business decision making. Honesty is a reoccurring theme in both sets of guidelines. The root of many large business scandals is honesty; false information is used to better the company, disregarding all moral value of the organization (Marshall, 2007). James White’s first and second principles both require honesty; we must fairlyrepresent a product or service as well as being able to admit our failures (White, 1987). The first principle in the Caux Round Table for Moral Capitalism conveys honesty; if we want to show respect towards our stakeholders, we must be honest in all situations, even when the situation is 2