Situations that you can use the Seven Ethical Decision Making and 4 Philosophical theories

7 Ways of Ethical Decision Making:
1. Getting the Facts
2. Identify Stake Holders
3. Consider the Consequence of your decision
4. Way Various Guideline and Principles
5. Develop and Evaluate options
6. Review your Decision
7. Evaluate the Decision

4 Philosophical Theories:
1. Virtue Ethics Approach
2. Utilitarian Approach
3. Fairness Approach
4. Common Good Approach


Situation:

--->For me the situation that you can apply the 7 ways of Ethical Decision making and the 4 philosophical theories is how to manage business.

For 7 ways of Ethical Decision Making:

♠Get the Facts: First you must gather information about the business you will take up and the location where you will put the business.
♠Identify Stake Holder: If the business you will take up has a stake holders you must consider their ethical values and not only their capability to produce money and you must identify who will be the Leader and the members.
♠Consider the Consequence of your Decision: If you decided to put up a business you must consider all the consequences that your business will to face so that you will be prepared in case the time comes.
♠Way Various Guidelines & Principles: When you put up a business you must have guidelines and principles to follow so that your business runs good.
♠Develop and Evaluate Options: When you are to put up a business you must have options of kind of businesses you will have so that you can choose the one that suits you.
♠Review Decision: If all are set, review again your plan or decision for some additional or correction of Ideas.
♠Evaluate the Decision: If all are set and clear evaluate or test your decision so that you can see if your decision is right or wrong.

For 4 Philosophical Theories:

♠Virtue Ethics Approach: Virtue is an acceptable behavior or good doings, in order to have a good business you must approach virtue ethics.
♠Utilitarian Approach: In putting up a business you must consider all the things that makes your consumers happy and contended in terms of your services and products.
♠Fairness Approach: You must be fair and with your employees regarding your decisions.
♠Common Good Approach: In putting up a business you must be good to your costumers and your employees, so that your business will succeed.

♠Maynard Jake T. Luzon♠