The Impact of Ethics on Decision-making.

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The Impact of Ethics on Decision-making

Introduction

When speaking of the impact of ethics on decision-making, it is hard to pin point a subject to speak on. Ethics is tightly intertwined with decision-making in business today. Objectivity, impartiality, integrity, honesty, and ethical principles above private gain – These are high ideals to which to aspire, and a challenge to maintain. Ethics or morality poses questions about how we ought to act and how we should live. Everything we do, or don’t do, is a choice that can affect the course of our lives and the lives of others. Such ethics rest on universal values that cut across time, culture, politics, religion and ethnicity. With all that at stake, it’s clear that the impact of ethics on decision-making carries deep rooted and heavy effects.

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What is Ethics?

Let’s start by identifying what ethics is. Ethics refers to well based standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics also refers to the study and development of one's ethical standards. It is necessary to constantly examine one's standards to ensure that they are reasonable and well-founded. Ethics also means, then, the continuous effort of studying our own moral beliefs and our moral conduct, and striving to ensure that we, and the institutions we help to shape, live up ...

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