The paper "Description of Ethical Theories and Principles" is a great example of a Management Case Study. Decision making is the systematic process of choosing logically between options that are available. During decision making, an individual weighs both the positive aspects of an action and the negative aspects before settling on the best option. For decision making to be effective and conclusive, an individual must be able to anticipate the effects of the decisions taken. Decision making can be undertaken from different perspectives. They include: ethics and ethical perspective, psychological and a value founded perspective.
This paper examines the ethics and ethical perspective of decision making based on the 1987 movie wall street. The paper discusses the ethical decision making of the characters in Wall Street and tries to base these decisions on developed theories, models and frameworks of the ethics and ethical perspective of decision making. The strengths and weaknesses of the decisions made by these characters will also be critically analyzed and evaluated based on this perspective. Ethics and ethical decision case study Decision making essentially depends on the individual making the choices.
It is the person involved who sees whether the decision to be taken could be somehow damaging to another person or group of people. The decision-maker observes the choices presented and acknowledges whether the decision to be made would be between a bad and a good alternative or between choices that are both good or between two bad choices. Before making an ethical decision, the decision to be made should be based on the relevant facts known about the case, the unknown factors, and the people that might be affected by the decision and the alternate options available. In Wall Street, the original movie, Bud Fox is a stockbroker in Steinem investment on Wall Street in the early 1980s.
He has a very strong desire to be successful and this leads him to work for a highly successful broker Gordon Gekko. Bud is strongly motivated by money and when given a choice by the greedy Gekko to use inside information to getting both of them rich, he takes it. Even though he grows extremely rich, Bud Fox ends up making a trail of decisions that have a negative impact on him, his family and his associates at work. Bowie and Bowie (2004) while explaining the teleological and deontological ethical theories point out that the deontological theory of ethics give significance to moral rules and issues that should not be and cannot be broken.
The deontological ethical theories do not hold the view that the end justifies the means but rather attach significance to the action and not its consequence. On the other hand, teleological theories of ethics attach a great deal of significance to the consequence or end result of the made decision.
Teleological theorists argue that whether the decision was right or wrong can only be surmised from the end result. Teleological theories conform to the notion that the end justifies the means. An action that would lead to a good end is taken to be morally and ethically sound as compared to an action that leads to a bad end. Teleological theorists point out that actions like love, kindness, and honesty are only good if their application provides good results (Bowie & Bowie, 2004, pg 34, 35).
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