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Ethics - Decision-Making in Corporations

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Compare and contrast the various ethical decision-making approaches.
Which approach do you think is most applicable in the real world? Explain your rationale.
Generalizing from your results of the Experiential Exercise "Ethical Work Climate", what general recommendations can you make for improving the ethical standings of corporations in general? Explain your reasoning.

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This posting gives you a step-by-step explanation of ethical decision-making. The response also contains the sources used.

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The first decision making approach we consider is the utilitarian approach that says that the ethical approach is one that provides the most good or does least harm. The second ethical decision-making approach is the rights approach. According to this approach, ethical action is one that protects and respects the moral rights of those affected. Another approach is the justice approach or the fairness approach. According to this approach, ethical actions treat all human beings equally or based on some defensible standard. The fourth approach is the common good approach. Life in a community is a good and our actions should contribute to the common good. The fifth approach is the virtue approach according to which actions ...

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