Understand the Ethical Dimensions of Business Decisions

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Understand the Ethical Dimensions of Business Decisions

Ethical Dimensions of Business Decisions

Graduates of the MBA program will be capable of demonstrating ethical reasoning skills in ethical scenarios commonly found in business settings.

Ethical Reasoning

  1. Identify dilemma - having the ability to clearly describe the dilemma in detail having gathered pertinent facts and describes exactly what must be decided in the situation
  2. Identify stakeholders - having the ability to describe the viewpoints of the affected stakeholders (indirect and direct) as well as the roles of appropriate parties in the decision making process
  3. Analyze alternatives - analyze alternatives and consequences, and ideally having the ability to describe a number of alternatives and describes the alternatives’ resulting consequences on a variety of stakeholders
  4. Choose an action - choose an appropriate action, and ideally having the ability to describe a plan to implement the action while considering its pros and cons.

Ethical Reasoning in Business

In general, business ethics is the application of behavioral standards that individuals face within a business setting (Ghillyer, Business Ethics Now, 2014).

 

“Managers – those expected to act as role models or enforce discipline – are responsible for a large share of workplace misconduct (60 %) and senior managers are more likely than lower-level managers to break rules. Surveyed employees said that members of management are responsible for 6 of every 10 instances of misconduct and they pointed the finger at senior managers in 24 % of observed rule breaking. Middle managers were identified as the culprit 19 % of the time and first-line supervisors were identified as bad actors 17 % of the time…. Organization’s investments in ethics and compliance are paying off, but there remains room for improvement. ”

(National Business Ethics Survey® (NBES®), Executive Summary, 2013).

 

The case for ethical awareness and proactivity in the workplace hinges, in part, on the educational training of its employees/owners.

 

The MBA program strives to assist is graduates in understanding ethical dimensions of business decisions.

 

Poor ethical practices in the US business environment can lead to fines and penalties on both the federal and state levels, while negatively affecting employee performance, relationships with customers, decreased company credibility and brand image, as well as detrimental impacts on local and global business-to-business relationships.

 

Graduates of the MBA program are assessed on their ability to identify ethical dilemmas facing companies, consider stakeholders whom may be impacted by the company’s behavior, identify and analyze alternatives available to the company, and ultimately choose an appropriate action.

MBA curricular focus on ethical decision making:

Business Law 711: Legal and Ethical Environment of Business

 

(UTM Course Catalog 2015-2016, p. 357): “Today’s managers are expected to make decisions that comply with legal and ethical principles. This course increases awareness of ethical, legal and regulatory controls, problems and responsibilities that impact business dealings with government agencies, consumers, employees, competitors, investors and society. Students will develop the ability to identify and address major legal and ethical issues so as to avoid potential liability and to maintain ethical integrity in a competitive global marketplace.”

MBA Assessment of Ethical Decision Making

  Identifies Ethical/Legal Dilemma
Above Average (3) Describes the dilemma in detail having gathered pertinent facts and describes exactly what must be decided
Average (2) Identifies dilemma, including most pertinent facts and identifies what must be decided
Below Average (1) Has difficulty identifying the dilemma or is unsure what must be decided
  Considers Stakeholders
Above Average (3) Describes viewpoints of the affected stakeholders and describes the roles of appropriate praties in the decision making process
Average (2) Identifies the stakeholders and identifies who should be involved in the decisions making process
Below Average (1) Has difficulty indentifying the stakeholders or is unsure who should be involved in the decision making process
  Analyzes Alternatives and Consequences
Above Average (3) Describes a number of alternatives and describes the alternatives' resulting consequences on a variety of stakeholders
Average (2) Identifies at least two alternatives and identifies the alternatives' resulting consequences
Below Average (1) Has difficulty analyzing alternatives or is unsure of the alternatives' resulting consequences
  Chooses an Action
Above Average (3) Describes an appropriate action and describes a plan to implement the action with pros and cons
Average (2) Identifies an appropriate action and identifies an appropriate plan to implement the action
Below Average (1) Has difficulty Choosing an action or is unsure how to formulate a plan to implement the action
Total Score: Mean Score:

Hybrid MBA Program

The Hybrid MBA program offered through the College of Business and Global Affairs is open to anyone holding a bachelor's degree from a four-year college or university, regardless of undergraduate major. Students complete their coursework through a combination of online and hybrid courses. Students can select either the General MBA or MBA with Agricultural Option.

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Online MBA for Financial Services Professionals

Open to students in all fields, The Online MBA is geared toward the financial services industry, and may be of particular interest to professionals with a connection to, or interest in banking and/or financial services.

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