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Critical Thinking in Business - Essay Example

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Thomas Harvey, director of BIM Lagos branch is trapped in a situation where the adoption of certain malpractices will generate profits for this company, and adherence to moral and ethical values as prescribed by the company, will put the investment operations of the company in Nigeria, at stake…
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Critical Thinking in Business

Download file to see previous pages... It is recommended that the Director should immediately discuss the ground reality with the local governing authorities, the authorities should be requested for taking some remedial actions, and if not, and the authorities should be warned that the company might shun their Lagos branch. A developing country, with poor infrastructure, can not afford to lose foreign investment, and it is expected that the authorities will resolve the issue, and the malpractices of the client agents will get affected and sorted out. (Saxton, 1989)
The recent studies have concluded that the application of comprehensive code of conduct and ethics had significant impact on the opinion with reference to ethical behavior in organization, and Thomas should adhere by it, the company's moral reputation should not be put at stake merely for the approval and satisfaction of client agents. It is understandable that codes of ethics can't help in solving the most difficult ethical problems in business, and it is important for the director to work out certain solution without compromising on the ethical values. If the malpractice of the company gets exposed to the international community, the company will have negative impact on its growth and operations. (Barnett, 1996)
It is important to evolve and portray BIM as good business firm that is financially successful and economically efficient enterprise which would combine profit-making with social responsibility. Furthermore, it is expected that the firm provide handsome and suitable remuneration to its employees to become involved in their communities and eventually to transform into good corporate citizen. Therefore, Thomas should take some relevant measures after in consultation with the company's high management, and should provide possible and sufficient incentives to the employees, so that their personal need and greed should not make them compromise over the company's value. The question is not just about the Thomas crossing the floor, but his subordinates are likely to practice the similar approach, which is also a matter of concern, and should be avoided.
The two significant consequences will reference to adoption of ethical techniques include,
1. Under modern conditions, ethics can be conceptualized in two different levels, i.e. ethics with reference to actions and ethics with reference to conditions of actions, i.e. based on rules or institutions, also called institutional ethics or order ethics. It is most important to avoid any existing or expected contradiction between the two.
2. Another important aspect is with reference to ethics under pre-modern conditions i.e. the selection of evaluation and selection of the rules. It is important to understand that adherence to common values as a foundation. In the age of globalization, the practice of agreement and consensus on values has diluted. (Davis, 2003)

The Director Thomas Harvey has another option i.e. adoption of strategy for mutual advantages, such technique will surely resolved the dispute, if the involvement of the local authorities is to be ignored for any reason. The client agents and the company should bring themselves to justify ethical norms in terms of mutual advantages or benefits, in this regard; three different options can be evaluated. ...Download file to see next pagesRead More
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