Decision making is one ethical challenge that entrepreneurs face in their day to day lives. Entrepreneurs’ growth rotates around making decisions that influence the daily operations of their enterprises. Moreover, choices made may impact on long term plans for the operation and subsequent survival of the company. Thus ethical decision making can be summarized as an essential method for exploring moral problems and recognizing ethical courses of action. The courses of action may include assessing any substitute actions, a collection of facts, testing the decision for objectivity, a reflection of the results, and making a decision. Generally, the process should focus on safeguarding customer and employee rights, individual beliefs and values of workers, and ensuring that business operations are just and fair.
Ethical egoism is the positioning of the philosophical ethics that manifest in moral people taking actions that are in their desires. Overall (2016) states that, when people pursue single-mindedly, the fulfillment of their own greedy and vain wishes, they inadvertently profit humanity. This outcome is based on the ideology that individuals tend to work hard in achieving goals that benefit their interest and unintentionally benefit the society in the process.
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Application of ethical egoism in decision making could benefit an organization in the long run. But, this benefit can only be achieved when the organization makes provision for the individuals to make personal goals that are aligned to the vision of the organization. The logic behind this application is, when the workers strive in their selfish ways to achieve the goals they have set, they will, in the long run, benefit the organization. The selfish drive of the workers is based on the presumption that individuals are motivated to achieve their own goals more than goals that help others.
References
OVERALL, J. (2016). UNETHICAL BEHAVIOR IN ORGANIZATIONS: EMPIRICAL FINDINGS THAT CHALLENGE CSR AND EGOISM THEORY. BUSINESS ETHICS: A EUROPEAN REVIEW , 25 (2), 113-127.
