The Eight Steps to Sound Ethical Decision-Making in Business Approach
Imagine that you’re a trader who joined a large investment bank two years ago. Pat, one of your fellow traders, is well known for being a big risk taker and a big money maker for the ﬁrm. You see him at a party one night and notice that he surreptitiously used cocaine several times. Several weeks later, in the ofﬁce, you notice that he seems exceptionally high-spirited and that his pupils are extremely dilated. Do you raise the issue with Pat’s manager?
To answer this question, define the primary ethical dilemma for the international organization or U.S. business or financial sector. Identify the affected parties (i.e., the stakeholders) in the case and the important right of each. Identify the consequences of your decision and the obligations of your analysis. Describe alternative courses of action that may be taken and the likely consequences of each proposed action for each stakeholder. Explain what you personally think is the right course of action in the case and the basis of your recommendation (i.e., check your gut). How can you voice your values in this case?