Weaknesses in Thinking and Ethical Decision-Making
Vulnerabilities in ethical decision-making
The area that I think I would be vulnerable in ethical decision-making is in the way profits are created in my business. I tend to believe that what matters is how much profit has been made from the business rather than how the profit itself has been made. This is a more traditional profit-centered business mindset. I believe in maximizing profits and returns on investment with no particular regard to how they were made. In this case, there could be social effects from the business activities.
I need to coach myself to always evaluate the effects of the business on the outside environment. I should also train myself to ensure that the business is sustainable and not likely to cause globalization effects. Such effects are caused by practices such as exploitation, environmental and social damage, and child labor. The business that I am undertaking should also be friendly to the community and not have detrimental effects on people’s well-being and health.
Effects of emotions and personal biases on thinking
Personal biases and emotions limit a person’s ability to reason (think) logically. Biases are inclinations towards certain beliefs or perspectives. These beliefs are generally ill-supported by evidence or reason. When one involves personal biases and emotions in his or her thinking, the person would be incapable of looking objectively at the facts. The person will be stuck in his or her worldview, which may not be objective in the first place. Such a particular person will also end up being vulnerable since he or she or she would certainly not be eager to have a great open mind concerning certain issues.
In a new business environment, regarding example, a particular person could have a private bias and idea that women are unable to make good market leaders or managers. These kinds of emotions may business lead human resource employees to recruit administrators according to sex somewhat than merit. This specific is a prejudiced view and may possibly be bad for typically the firm’s success