Perceived fairness in organizational settings

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Fairness Heuristic Theory

Van den Bos and Lind (2002) established foundational ideas about the significance of perceived fairness in organizational settings. They explored how fairness acts as a heuristic for individuals when assessing their treatment and position within an organization.Recent studies by Gould et al. (2023) and Rahman and Karim (2022) further elaborate on how fairness affects workplace outcomes. They emphasize that perceived fairness leads to higher organizational commitment, better job performance, and improved job satisfaction.

Fairness heuristic theory can guide leaders in understanding and predicting employee reactions and behaviors based on their perceptions of fairness within the organization.By integrating fairness as a core leadership value, organizations may reduce inconsistencies in decision-making and align more closely with established standards.

Maslow's Theory of Needs

Maslow's original hierarchy outlines physiological, safety, love and belonging, esteem, and self-actualization needs that drive human motivation. Herzberg's two-factor theory linked these needs to job satisfaction and performance. Mustofa (2022) and Vo et al. (2022) have expanded Maslow's work in organizational contexts, showing how fulfilling higher-order needs can lead to motivation, satisfaction, and enhanced performance within organizations.

Understanding how leaders' personal needs and motivations align with Maslow's hierarchy can help identify why they may exhibit inconsistent decision-making.Acknowledging employee needs can assist leaders in creating environments that reduce dissatisfaction and increase satisfaction, thereby conforming to organizational expectations.

Ethical Decision-Making Theory

This theory emphasizes the intersection of individual, organizational, and situational influences on ethical decision-making processes. Lim et al. (2023) discuss how contemporary financial services leaders face ethical dilemmas shaped by individual values and organizational cultures, making this theory especially relevant for studies in globalized contexts.

This framework will be utilized to analyze the ethical dimensions of decision-making by financial services leaders, particularly as they navigate complex regulatory and cultural environments. By understanding the ethical decision-making processes, organizations can better structure policies to guide leadership decisions toward consistency and ethical standards.

Globalization Theory

Prefacing the widespread advent of globalization, theorists explored the increasing interconnectedness of economies, societies, and cultures. Mohiuddin (2023) highlights the profound effects globalization has on business practices, emphasizing the need for adaptable organizational strategies that can respond to diverse cultural expectations and economic shifts.

Globalization can impact ethical decision-making by introducing varied cultural norms and expectations that leaders must navigate. In the context of Jamaica's financial services, globalization prompts the reevaluation of decision-making processes to better align with international standards and practices.

Reference no: EM133838186

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