Leads To Unethical Thinking In Management †Myassignmenthelp.Com

Question: Discuss About The Leads To Unethical Thinking In Management? Answer: Introducation Vicky and Beck are two friends studying in a university having accounting as their major subject. Some uncertainties occurred at Vickys family due to which she has to left for her home, leaving behind a bill of $100 with beck, so that in her absence beck could buy the prescribed accounting book for her. The cost of book is $80 for which she has left $100 so that beck does not face any difficulty in buying the book and on her return he will give back her $20 her new book. Beck when visited the shop, it came to his notice that most of the students has returned the new books to the book shop as they have got the second hand copies. The price of the returned books has been fallen to $65 and they dont appear to be the returned copies. Beck made a calculation that if he buys they returned copy for Vicky, she will not be able to know about the returned copy and beck will earn $15 dollars from all this. Now if we talk about who is the actual stake holder in this situation then it is Vicky a s Vicky has entrusted beck for the buying of the text and with her money. Beck in this situation has the responsibility of Vickys money and her trust, which he fails to maintain as maybe Vicky will never come to know about that she was given a returned book for $80 but the moral ethics of beck here shows that he can cheat any one just for few dollars(Berny 2015). The definition of stakeholder is as follow: A person who has an interest in something and who is impacted by and cares about how it turns out(Your Dictionary 2015). In this situation what happened is beck didnt cared about moral ethics that he should have cared about his friendship. Beck didnt even bothered to tell about it to Vicky; maybe if he had confessed about it to Vicky, there are chances that she shouldnt have said anything to him. Here in this situation Vicky expected that she will, at the time of reaching back to the university will receive a new book from her friend beck, but she didnt knew that beck will comprom ise his ethics just for a little gain of $15. Being the stakeholder in this situation Vickys entrusted her money with beck and she was expecting a better outcome of it, now if ever she comes to know about it from somewhere, she will never again trust beck for even a single penny(Adrian 2012). Beck should confess about it, to Vicky as it is just a matter $15 and she will happily forgive him for now, but if he wont confess then he will invite future problems for himself(Christine 2014). Outline the ethical issues involved? Answer 2: As explained in the above question, Beck and Vicky are two friends that are studying in a university and both having accounting as their major subject. In this question we will discuss about the ethical issues that are involved in this situation of beck and Vicky. Ethical issues mean the conflict between choosing the right and wrong. Here beck was the one who had to choose between right and wrong and he fell for wrong just for $15. The definition of ethical issue is as follow: An ethical issue brings systems of morality and principles into conflict. Unlike most conflicts that can be disputed with facts and objective truths, ethical issues are more subjective and open to opinions and interpretation(Reference 2017). There are different types of ethical issues that arise in business organizations or in our daily lives. Few of the ethical issues that are involved in this situation are explained as follow(Carl 2008): Fundamental Issue: Fundamental issues whether in a business organization or in our daily lives has been given a very due importance, as it deals with integrity and honesty of a person or business organizations(Blog 2013). Integrity means treating every person with a good and fair manner, so that the person makes new and newer contacts for his own betterment. Honesty means loyalty towards something or someone. A person must always be honest, as if he is dishonest towards something or someone, he may achieve a little advantage for sometime but in long future he will be adversely affected by his dishonest nature(Ethics 2004). Here in this situation beck is being dishonest towards Vicky and with his nature he successfully gained $15 from her but it will somehow in future will be revealed to Vicky and at that time he will not be able to face her. Transparency Issue: Transparency issues are those ethical issues which deal with the transparent nature of a human being(Abel 2015). Here in this situation beck has failed to be transparent towards Vicky. He didnt tell her about the actual price of the text book, only because he wanted to have a short term little gain of $15. If he had tell about it to Vicky maybe just because of his transparent nature she could have given him the entire remaining amount as a reward for his transparency and honesty towards her. Decision-Making: Decision making is a process of deciding what to do when to do and how to do and keeping in mind the outcomes of that decision and the people related to that decision(Johnsons 2007). Decision making is another ethical issue that has mostly affected the person in power(Mathew 2017), here in the mentioned situation, it was Beck who was in power with money and this affected him as he failed to make a honest and trustworthy decision as just for the sake of $15, he made a decision that was unfair towards Vicky. Above are the three main ethical issues that are involved in this situation, Beck could have handled this situation by being honest towards his friend Vicky, but he chose to be remain unfaithful and unfair just for $15. Discuss what you would do if you were Beck? Answer 3: The above situation describes that beck was appointed by the responsibility of buying a text book of accounting from the local book shop for Vicky, as she had to rush to her home for some urgency. By reaching to the shop beck comes to know about the returned books that looks like a new book for $65, the new book cost $80. Vicky gave $100 to beck for buying a new book and was expecting $20 back with a new book, now if we I am beck there will two situations that I might do: Situation 1: This situation is as same as the situation that beck is in. Now suppose if I am beck and I have bought the book for Vicky at $65 (returned book), then I will without any unfair thoughts will give back all the saved money to Vicky as she will be more than happy that I saved her $35, in future too she will ask for my help and will entrust me her money and things. In case I need the money so I will tell Vicky that I have her $15 as I really need it because of some urgency and will return it to her as soon as possible. Situation 2: In this situation, I will not buy the second hand returned book, as I will go for the new book as Vicky has demanded and will give $20 back to Vicky or I will contact Vicky about the returned books and will ask her confirmation whether she would like to study a returned book which looks like a newly published one. After confirming and clearing all my doubts I will only then proceed to buy the book. What beck did in this situation is totally unethical and it is really unfair towards his friend and he must apologize to her about what he did just for $15. If he apologize to Vicky, it will not only increase the trust of Vicky in beck but she will be more than happy to know that she has a true and a real friend, who doesnt believes in back stabbing or cheating anyone. References Abel, A 2015, 'Demerits of Ethical Issues', Ethical Dreams , vol 2, no. 100, p. 3. Adrian, A 2012, 'Ethics of Management', in KK Brian (ed.), Business Studies, 10th edn, Kalyani Publishers, Burgue. Berny, C 2015, 'Ethical Issues', Research Papers, KAMPTON UNIVERSITY, J.P PUBLISHERS, Hapmton. Blog, M 2013, Ethical Issues That May Arise In Management, 10th edn, MSC Publishers, Bath. Carl, T 2008, '80 Differen Ethical Uncthical Issues', Brucy and Management tactics, vol 1, no. 10, p. 3. Christine, T 2014, 'Different issues that leads to unethical thinking in management', in Hermine (ed.), Understanding of the World Network, 5th edn, J.K Mito Publishers, Burgelue. Ethics, CMIO 2004, 'CMIE', Business practices, vol 5, no. 105, p. 10, viewed 10th feburary 2015. Johnsons, C 2007, 'Economical Management Practices', Career Trade, vol 5th, no. 200, pp. 96-123. Mathew, E 2017, 'talks about ethics of business organization', Business Property, vol 32, no. 100, p. 2. Reference 2017, viewed 20 july 2017, https://www.reference.com/world-view/ethical-issue-f1d5bd587b50cdbf#. Your Dictionary 2015, viewed 12th April 2017, https://www.yourdictionary.com/stakeholder.