Decision Making and Management - Essay
Added on 2021-06-15
25 Pages3929 Words32 Views
Professional DevelopmentHigher EducationPhilosophy
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Project Management Name:Register No.:Guide:Submission Date:
Table of Contents1.Introduction............................................................................................................................................................12.Literature Review....................................................................................................................................................22.1Overview.............................................................................................................................................................22.2Review................................................................................................................................................................23.Evaluation...............................................................................................................................................................54.Plan.........................................................................................................................................................................65.Conclusion...............................................................................................................................................................9References......................................................................................................................................................................10Appendix A....................................................................................................................................................................11Appendix B....................................................................................................................................................................15Appendix C....................................................................................................................................................................20
1.IntroductionThis research ensures to find the importance of managerial knowledge, be it ethics ormorals in business, when decision making and management is considered. The Ethical decision-making is a discipline, which follows an approach to identify and resolve the business relatedissues. The fact to understand about ethical business decision making is that, it not only helps todo the right thing, instead there is much more. One of the element of implementing ethics in thebusiness is, it needs awareness or sensitivity to ethical issues which can arise, and thus, it wouldneed an effective method for resolving the relevant issues in the decision making process. Theother aspect that has to be thought about is, the thoughts of an individual affects their words anddeeds, and with respect to ethics in business decision making should be evaluated based on thetangible evidence and results from words and actions. The question to ponder on in this essay includes, “Can an immoral person take ethicaldecision or is it only the moral person can take ethical decisions?” “Is it possible to incorporateethics in business decision making and how?” and “Is ethical business decision making haveconnection with effective managerial practices.” The attention grasped by ethics in decisionmaking is really high, and on this topic a large amount of research and study is acknowledged toidentify the importance of ethics in business decision making. These researchers abide on findingthe importance of ethical decision making and its connection with effective management.To aim of this report is to evaluate the managerial knowledge, hard skills and soft skillsof a manager. As a researcher of this report, I indicate the review and evaluate my ownmanagerial capabilities. The objective of this research is to develop the strategies, competencies,along with the indigenous cultural competence, to check whether the managerial behavior iseffective or not, if not what is required. The required skills will be reviewed, investigated andconcluded, to represent the importance of ethical standards in business decision making, and itsrelationship with effective managerial practices.Belbin Self-Perception Inventory, Thomas-Kilmann conflict Mode Instrument andLearning style Questionnaire methods will be used for evaluating my managerial capabilities.Based on the evaluation, strategic plan for developing my skills will be planned.1
2.Literature Review2.1OverviewThe review is based on the skills which I/ researcher lacks. In the next section, I haveevaluated my skills based on Thomas-Kilmann Conflict Mode Instrument, for assessing mybehaviour, during the circumstance of conflict, for determining my personality, level ofcompetencies and skill for becoming an effective manger. This evaluation efforts are taken tocheck my ethical decision making as a manager. 2.2ReviewThe specific skills reviewed in this review includes, conflict management, capabilitiesrequired for promoting good ethical decision making and how personality is related with ethicaldecision making. Alakavuklar (2007) demonstrated that, the topic of “Conflict” is researched by variousacademic disciplines in relation with the organizations. It is observed that in organizationsconflict could be experienced in various levels like interorganizational, interpersonal andinterdepartmental levels. If there exists any conflict at the interpersonal level the followingaspects are studied such as, amount of conflict intensity, functional/dysfunctional. The style ofhandling conflict because of relevance in managing the conflict is now a major concern ofvarious researchers. Traditionally conflict handling styles is categorized in to the followingstyles, integrating, obliging, compromising, dominating and avoiding. However, it contains acouple of dimensions such as concern for self and concern for other. The connection that existsbetween the ethical approaches and conflict handling styles are discussed in this research anddetermines that ethical concerns are significant source for the conflict potential. Based on thisconsideration, the research argues on the relationship between the ethical orientations ofindividuals for ethical approaches and their tendency for selecting one of the conflict handlingstyles. Analysis of, the relationship between the ethical orientations and conflict handling stylesis conducted in a framework of three ethical approaches as deontology (i.e., it is the extent wherethe action is considered as consistent based on the obligations or the unwritten universalprinciples of an individual), ethical egoism (i.e., it is the extent where an individual selects theaction depending on increasing the interests of the related actor) and then comes relativism (i.e.,2
it is the extent where any of the actions recognized as appropriate according to any of thefollowing such as, cultural aspects or beliefs or the country). A scenario of Turkish publicUniversities was conducted by adapting Multidimensional Ethics Scale (MES) and Rahim’sOrganizational Conflict Inventory-II (ROCIII). Finally, the results showed that the orientations inall the three ethical approaches had potential in explaining the preferred conflict handling style. It has been demonstrated by Emery, Sr. (2017) that, if the organization is applied withethical principles, it can broaden an individual along with the corporate priorities i.e., beyond theshareholder enrichment and profit. The ethical factors are said to influence the leaders for takingright decision for protecting from any kind of unethical behavior’s impact on the organization("Influence of Decision Making in Organizational Leadership and Management Activities",2018). The connection among the independent variables of leadership and the right decisiontaking, and the dependent variable of the ethical behavior are examined in this study. The resultsfound in the study represents that in the workplace, the unethical behavior might relate with theability of the leaders for taking right decisions. Thus, it is important for a leader to have ethicalbehavior.Even according to the evidences provided by Ejimabo (2015), the leaders of theorganization must actively take part in data based process for decision making, because of thepower of information in taking the right decision. Therefore, for leadership decision makingprocess the leaders should willing take the responsibility of various tasks and work on theirgoals, situations, self-confidence and facing the consequences during decision making("Leadership And Decision Making", 2018). The findings of this study suggests the leaders ofthe organizations to allow their skilled subordinates for participating in the process of decisionmaking. Because, their involvement is considered to improve decision’s quality and acceptance,by everyone at the workplace. Additionally, the researcher has stated that there is extreme needfor modification and enhancement in the process of taking decisions for the leaders of theorganization, then the managers and the executives in accordance with technology, policy,leadership effectiveness and for success. Again Obioma Ejimabo (2015) in a different study has explored the influence of takingright decision related to organizational leadership and the management related activities, but theeffect on creativity, effectiveness, growth and accomplishing organizational goal are presented inthis study. The results of this study also showed high requirement for modifying and improving3
the decision making for the organizational leaders, managers and executives in accordance withtechnology, policy, leadership effectiveness, for diversity and globalization. In business, theability of the leader to understand the factors can influence the decision making process and canlead the organization towards success. Katja Mihelič, Lipičnik and Tekavčič (2010) suggests that, higher amount of concern isregarded for the impacts of decisions on other individuals like, the managerial decisions providessignificant effect on both the professional and the private life of the stakeholders, including theemployees. When the perspective of an individual’s personality, the leaders possess anexceptionally strong inspiration and they are strong at their emotional self, they are courageous,then they treat all the employees fairly, just and have self-control (Selart, 2015). At last, theleaders stick to strong religious values, to support their moral commitments which are generallyrooted in the religious convictions which produces the consciousness of unconditional obligationtowards other people. On the other hand, it is believed that the success of the market and ethicalconduct work together, thus the ethics and the competitiveness cannot be separated.Antes et al. (2007) the study examined the fundamental characteristics of a person’spersonality, cynicism as predictors and narcissism of ethical decision-making for the graduatingstudents who are being trained in the field for their career growth. The participants in the studycompleted the individual’s difference of measures with the scenario-based ethical process ofmaking decision measures which captures the complicated, multifaceted nature of ethicaldecision-making in scientific research. The results revealed that both narcissism and the cynicism(where the individual differences influences their self-perceptions and also the perceptions ofother people) has represented constant negative relationships with thetraits of ethical decision-making, on the other hand more basic personality characteristics were found to be less consistentand also weak. For instance, conscientiousness and agreeableness. Further analyses examined therelationship of personality to metacognitive reasoning strategies and social-behavioral responsepatterns thought to underlie the ethical decision-making. Finally, the outcomes show that theindividual’s personality is linked to various social-cognitive mechanisms that could, relativelydescribe the link between the personality and the ethical decisions.As per, Terpstra, Rozell & Robinson (1993) the influence of variables on individuals'ethical decisions related to insider trading: interpersonal competitiveness, locus of control,desperateness to achieve more, religious beliefs, self-esteem, the number of times an individual4
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