Tough times call for tough decisions. The singular dilemma of top management in the recessionary business
environment is prioritization in meeting the expectations of
diverse stakeholders—the shareholders/ owners expect their share value
to be retained, the employees expect their jobs and emoluments to be
protected, the distributors expect support in running business when
risks are coming down, the suppliers expect to supply the required
material at the same price and preferably the high quantities procured before,
the government expects the company to take care of the society around
the business. All these diversified and conflicting expectations have
made decision making by the company very tricky. This article, we examines
the conflicts with respect to HR functions in an organization,
employee expectations and its impact on other stakeholder's desires. These
decisions are examined under ethical perspective since ethics as a concept
takes into consideration the social and cultural environments, and morals
prevailing in the society.
Ethics is often talked about, but seldom considered while
making managerial decisions. As per the Chambers dictionary, ethics
means "that branch of philosophy which is concerned with human
character and conduct; a system of morals or rules of behavior." There are
multiple factors that are ingredients in defining the ethical behavior
from an individual like honesty, expertise, independence, loyalty, fairness
and advocacy. These factors help in guiding the conduct of the
individual and also in communication and setting the expectations regarding
the conduct from an individual. |
