From the course: Ethical Decision-Making in Business: Strategies for Success
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Integrating ethics into business decisions
From the course: Ethical Decision-Making in Business: Strategies for Success
Integrating ethics into business decisions
Imagine you're working at a self-driving car company testing the first car. After 99 tries, the results indicate the cars are perfectly safe. Then on the 100th test, you find a potential glitch that could cause the car to malfunction in a very rare situation. Fixing the bug would require delaying the launch by several months, costing your company millions of dollars, while allowing your competition to get ahead, which might sink your company. The question is, Do you report the bug and risk your company or do you stay silent, potentially risking lives? In this lesson, I'm going to explain how to identify and assess ethical dilemmas so you can make more informed decisions and integrate ethics into your own business decisions. First, what is business ethics? For some, this is a gray area, since ethics aren't the law and can be different at each organization. Think of business ethics as the moral principles that guide a company's actions, similar to societal norms. Balancing ethics is…
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