The thought process of selecting a logical choice from the available options.
When trying to make a good decision, a person must weight the positives and negatives of each option, and consider all the alternatives. For effective decision making, a person must be able to forecast the outcome of each option as well, and based on all these items, determine which option is the best for that particular situation.
Conflicts of Interest
A conflict of interest is a situation where one person or organization has separate interesting opposing each other in one matter. For example, if you are the social media consultant for one brand, it’s a conflict of your interests to also consult with brands they compete with. While some conflicts of interest are outlined by legal statutes, most aren’t. It’s a just a matter of perception.
Sometimes the ethical problem isn’t about how you deal with the people outside of your business but the ones who built it. Partnerships can be tricky in the best of circumstances. When you’re determining what’s fair and what’s not, things can get even more complicated. For example, is it ethical for you to take a bigger percentage of the business income if you put in more capital? What exactly can you charge to business accounts? What percentage of the liability is fair for you to give to your partner?
Taking Credit for Others' Work
Employees often work in teams to create marketing campaigns, develop new products or fine-tune services, yet rarely does everyone in a group contribute equally to the final product. If three members of a five-person team did all the work, do those three members demand to receive proper credit while pointing out that two members of the team did not pull their weight?
Your supervisor enters your office and asks you for a check for Rs. 4500.00 for
expenses he tells you he incurred entertaining a client last night. He submits
receipts from a restaurant and...