Identify what stewardship means in the business setting

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Reference no: EM133852656

Assignment:

We will not be navigating to Cengage for the Case Study assignments but will look at some key ethical approaches to solving cases. Ethical practices are very important in the marketplace and the work environment. Ethics refers to the beliefs held regarding right and wrong and good and bad. Family, friends, social groups, and culture influence and shape a person's belief system. This fact alone creates ambiguity - in the United States, people come from a variety of diverse backgrounds, and if you consider the global scale, the challenge as to determining what is ethical is amplified.

In today's global business environment, the concepts of ethics and stewardship have become increasingly critical. Business leaders need to be able to understand and apply these principles for sustainable success and positive societal impact.

Review Making an Ethical Decision and Common Ethical Approaches.
Read Chapter 4, Case Study: North American Dental Group.

Answer each of the following questions in at least one fully developed paragraph.

Explain how you define ethics and identify what stewardship means in the business setting.

Discuss whether it's possible to balance ethical practices with profitability. Why or why not?

North American Dental Group is a company that some say failed to provide ethical practices to patients. Use Making an Ethical Decision and Common Ethical Approaches to identify the following:

What was the potential ethical issue at North American Dental Group?

Consider these five ethical approaches: (1) Which option will produce the most good and do the least harm? (The Utilitarian Approach), (2) Which option best respects the rights of all who have a stake? (The Rights Approach), (3) Which option treats people equally or proportionately? (The Justice Approach), (4) Which option best serves the community as a whole, not just some members? (The Common Good Approach), and (5) Which option leads me to act as the sort of person I want to be? (The Virtue Approach). Explain which approach best addresses the ethical situation in question.

How could that approach be implemented with the greatest care and attention to the concerns of all stakeholders (dentists, employees, patients, communities)?
What are three qualities you feel make a business leader ethical?
How could leaders within the North American Dental Group foster an ethical culture within their organizations?

Reference no: EM133852656

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