Description
Provide an example from your own experience where you acted in accordance with one or more of the patterns of irrational or unethical decision making. Explain the egocentrism or sociocentrism, as well as any pathological tendencies of mind, involved in your thought process. How could you have applied the keys to sound decision making to approach the situation more rationally? If you prefer not to discuss your own decision making experience, you may instead discuss someone you know, a historical figure, or a fictional character.
Your response should be at least two pages in length and should be typed using 12-point Times New Roman font. All sources used, must be referenced; paraphrased and quoted material must have accompanying citations in APA format. The title and reference page do not count towards the two-page minimum.
Explanation & Answer
Attached.
Running Head: IRRATIONAL OR UNETHICAL DECISION MAKING
Irrational or Unethical Decision Making
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IRRATIONAL OR UNETHICAL DECISION MAKING
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Ethics is fundamental to every decision making process since the decision that an
individual makes have a direct impact on either the individual or a group people. It is therefore
important to consider ethics in any decision that we make in our daily lives. Most companies
have ethics and compliance policies that are reviewed and signed by all employees every year.
The ethics policy is required to guide the actions and decisions of people within the organization
including the top decisions made by top managers of the organization. The top management and
employees are therefore charged with the responsibility of conducting their business affairs in
accordance with the highest level of ethical standards. Despite the fact that organizations have
ethical policy guidelines outlined within the ethics and codes of conduct framework of the
organization, organization managers have often times violated the values of the ethical codes of
conduct of the organization and acted in accordance with their egocentrism. Such actions often
times result into loss of failure of the organization to undertake their moral responsibility thereby
affecting the employees, the organization or the shareholders of the organization.
A good example of unethical decision making is in case of Enron. This is an example that
everyone is aware of. Taking a look at Enron’s ethical case, focusing on one individual, Andrew
Fastow, Enron’s Chief Finance Officer, Andrew’s decision as a CFO of Enron resulted into loss
of billions of dollars of the company leading to the ultimate bankruptcy and final collapse of the
company. Andrew Fastow was charged by court and faced 98 counts of money laundering,
conspiracy and fraud. He made the decision that conspired with the other improper partnership
that he ran by then. His decisions included ...
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