Making Business Decisions Should Be Simple, Right - 948 Words

Making business decisions should be simple, right. However, relationships with stakeholders can make business decision complicated. Stakeholder relationships are a key factor to running a sustainable organization. In business as well as life there are always those grey areas in decision making. This is where ones Morals and ethics come into play when making decisions. Is there a moral or ethical dilemma that can arise when exposing stakeholders to whom you have close personal or professional ties to? How do you overcome these dilemmas? Business leaders must assess the risk and tradeoffs when tackling the ethical dilemma of whether or not to expose a stakeholder. In order to understand the problem of wheatear or not to expose a stakeholder there are key things one needs to know and understand. The first is a stakeholder; who is anyone â€Å"with an interest, claim, or stake in the company† (Hill, Jones, Schilling, 2015). Stake holders can include but are not limited to: customers, employees, owners/investors, suppliers, competitors, creditors, communities and government agencies and regulators. Relationships with these stakeholders should be looked at as intangible assets. â€Å"By effectively managing relationships with increasing the opportunities and lowering the risk for each relationship, a company can enhance the quality of its intangible assets and therefore increase the overall valuation of the business† (Friedman, 2014). In addition, we need to understand ethics;Show MoreRelatedDecision Making Process For The Cleaning Supply Organization870 Words   |  4 Pagesre-prioritize our decision making process to help imp rove sales. Listed below is a decision making model that will help the cleaning supply organization prioritize short and long term goals. This may seem like an ambitious process, but it is crucial to stop the negative sales trend. 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