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Discussion Reply: Business Integrity, God’s Perspective, and Decision Models

Discussion Reply: Business Integrity, God’s Perspective, and Decision Models

 

Discussion Reply:
You will reply to one of your classmate’s thread.
Minimum of 250 words in the body.
Minimum of 2 sources from the literature in addition to course texts.
Use bolded headings below in the reply.
Current APA format must be used.
Use the following Outline:
 Summary – Sumarize the author’s original thread in no less than 125 words.
 Critique – Discuss what you agreed with, did not agree with and why in no less than 125
words.
Support your factual assertions with citations.

William K

Business Integrity, God’s Perspective, and Decision Models

Introduction

     Corporate governance and management oversight are evolving to address companies' increasing complexity and the impacts of integrity breaches. Adopting a strategic approach and aligning company values with its vision and mission are essential for organizational development. Upholding integrity-based actions is crucial for enduring and thriving in the face of ethical and economic challenges. In business, organizations aim to establish integrity through effective corporate governance and values. Understanding ethical constructs explains unethical behavior. Bad strategy involves evading coherent strategies due to leaders' reluctance to make essential choices.

     God’s perspective on business integrity involves making ethical decisions and aligning organizational behaviors with virtuous character. Business executives must consider ethical practices beyond just maximizing shareholder value. Unethical conduct will inevitably lead to detrimental effects on the company's financial performance. "He stores up sound wisdom for the upright; he is a shield to those who walk in integrity." Prioritizing the economic bottom line will consistently result in adopting integrity-principled business practices. This perspective underscores the significance of integrity, equity towards employees, goodwill, and corporate and employee contributions to the community.

     Decision Models instill confidence in my ability to succeed in life and to continue achieving success in the future. The John Whitmore Model of SMART Goals helps focus efforts by setting measurable goals, creating a plan, staying on track, and building confidence. Realistic, achievable, and timely goals guide efforts in a meaningful and impactful direction. The Choice Overload model aids in moving forward through decisions, preventing missed opportunities, and making a decision, even if it's not perfect.

Process: Business Strategy Development

The Power of Business Integrity

     Corporate governance faces increased public scrutiny as companies influence society more significantly. The oversight function of management has experienced significant changes in response to the growing complexity of companies and the extensive impacts of integrity breaches on various stakeholders. This shift in responsibility requires that businesses address ethical and societal issues. Proactively adopting a strategic approach is essential. It represents a strategic move to assess organizational integrity and establish a practical ethical framework, preempting potential issues and demonstrating the importance of organizational decisions (Fuerst et al., 2023, p. 418).

     Linking the strategic vision and mission with company values is essential to organizational development. Organizations create a statement of values to guide the actions and behavior of their personnel in conducting business. These values encompass the company's commitment to diversity, equity, and inclusion, reflecting its integrity, ethical behavior, and beliefs in social responsibility (Gamble et al., 2015, pp. 21-22). Integrity-based actions must be upheld to build a company capable of enduring and thriving while effectively managing ethical and economic challenges. Promoting corporate success requires ensuring an organization's integrity, making it an essential and non-negotiable aspect (Fuerst et al., 2023, p. 418).

     In business, organizations aim to establish a robust framework for integrity by reconceptualizing it as a combination of theoretical and practical wisdom while prioritizing effective corporate governance. They emphasize the importance of a philosophical focus for managerial strategies on the constraints of this approach within the global socio-economic landscape (Patsioti-Tsacpounidis, 2023, p. 422). A company's values represent the beliefs, traits, and behaviors expected in conducting business and pursuing the strategic vision and mission. These values emphasize the importance of doing the right thing and adhering to high standards (Gamble et al., 2015, pp. 21-22).

     Fraud, corruption, and a lack of integrity are prevalent within the corporate world. Understanding the ethical and psychological constructs that underline corporate corruption can explain the reasons behind unethical behavior by corporate managers. Leaders often face difficult predicaments when dealing with corporate corruption (Patsioti-Tsacpounidis, 2023, p. 422). The phenomenon of bad strategy involves the deliberate evasion of formulating a coherent and effective strategy. This problem is attributed to leaders' reluctance or incapacity to make important choices when faced with conflicting priorities. Consequently, a flawed strategy is developed (Rumelt, 2011, p. 57).

     Some companies need to embody their proclaimed values in practice. While top executives may display specific values, these principles often do not significantly influence company personnel's behavior or operational practices (Gamble et al., 2015, pp. 21-22). Organizations should recognize the importance of studying business ethics and underscore the significance of addressing ethical issues within the business domain. A virtue-based perspective highlights the value of continual action within environmental and social frameworks as an integral part of the learning process. Various moral virtues emphasize the significance of integrity. To genuinely embody a specific virtue, it is essential to comprehend Aristotle's virtue ethics theory and its role in defining the ideal business life (Patsioti-Tsacpounidis, 2023, p. 422).

     Businesses are currently faced with the demanding task of evaluating organizational integrity, which requires the development of a comprehensive theoretical framework. A critical approach involves integrating integrity into corporate governance structures to uphold regulatory compliance, diminish corporate vulnerabilities, and enhance overall business efficiency. This focus on embedding integrity within corporate governance frameworks seeks to reinforce regulatory adherence, mitigate corporate susceptibilities, and elevate business efficiency beyond the constraints of standard governance models (Fuerst et al., 2023, p. 418).

God’s Perspective on Business Integrity

     Integrity encompasses the capacity to make sound judgments, extend beyond the creation and interpretation of general principles, and acknowledge the importance of addressing concerns and principles that arise in ethical predicaments. Organizations with executives dedicated to establishing company operations based on solid values and business practices have designated core values deliberately embedded into the corporate culture. This integration makes the core values essential to the organization's identity and operational foundation.

     Virtue involves aligning organizational behaviors with virtuous character. A virtuous individual sustains balance by ensuring that their intuitions, perceptions, emotions, and principles are harmonious, leading them to act with integrity (Patsioti-Tsacpounidis, 2023, p. 422). At value-driven companies, executives lead by example, and employees are held accountable for upholding the established values (Gamble et al., 2015, pp. 21-22). However, the presence of hardworking, fair, honest, and generous individuals in their personal lives without integrity in their business can adversely affect the economy and the lives of others. Proverbs 21:3 states, "[3] To do righteousness and justice is more acceptable to the LORD than sacrifice" (ESV).

     Personal integrity significantly influences society, and upholding honesty demands individual diligence and communal support. Psalm 112:5 states, "[5] It is well with the man who deals generously and lends; who conducts his affairs with justice" (ESV). According to Keller (2012), modern and postmodern role models inadvertently undermine individuals' inclination to question how their values conflict with the business environment (pp. 120-121). Even in upper-class regions, corruption undermines otherwise robust economies and denies many, particularly the underprivileged, the advantages of residing in such communities (Keller, 2012, pp. 120-121). Proverbs 11:3 states, "[3] The integrity of the upright guides them, but the crookedness of the treacherous destroys them" (ESV). The prevalence of corruption within a society is directly linked to its economic fragility.

     Given the growing emphasis on ethical practices in the corporate realm, it is customary for business executives to strive to maximize shareholder value. This approach often results in a narrow evaluation of activities based on their legality, emphasizing their potential for generating profit (Keller, 2012, pp. 120-121). This constant monitoring of managers and business proprietors is unnecessary, as unethical conduct must inevitably lead to detrimental effects on the company's financial performance. Proverbs 10:9 states, "[9] Whoever walks in integrity walks securely, but he who makes his ways crooked will be found out" (ESV).

     Proverbs 2:7 states, "[7] he stores up sound wisdom for the upright; he is a shield to those who walk in integrity" (ESV). Prioritizing the economic bottom line will consistently result in adopting integrity principled business practices. This perspective underscores the significance of integrity, equity towards employees, goodwill, and corporate and employee contributions to the community (Keller, 2012, pp. 120-121).

Decision Models

     I consistently follow my personal decision-making models. I am confident in my ability to succeed in life and to continue achieving success in the future. I model myself around core values to utilize the right tools at the correct times. I could be better, but I aim to communicate effectively and am confident in what I want to say. I communicate ideas and opinions clearly and concisely and am not afraid to take risks. I remain prepared to take on new tasks, even if unsure of the results, recognizing that taking risks is essential for growth and development, and I don't let the fear of failure stop me from achieving my ambitions.

     The John Whitmore Model of SMART Goals (Krogerus et al., 2018, p. 22): Specific goal definition facilitates achievement. It is crucial to establish precise and detailed objectives. Setting and meticulously refining specific goals enables aligning actions toward a common purpose. Measurable goals are essential for tracking progress toward objectives. Setting metrics helps identify key performance indicators that measure progress. Achievable goals can be met due to good planning and tracking, which increases confidence throughout the process. Realistic goals guide efforts in a meaningful, impactful direction. Timeliness helps prevent goal procrastination and encourages a sense of urgency and the opportunity to schedule the steps toward goal achievement. Milestones must be far enough to make it attainable yet close enough to maintain progress.

     I do not need to prove myself to others or seek validation from external sources. I trust my judgment and instincts and make decisions confidently and without hesitation. The Choice Overload (Krogerus et al., 2018, p. 30): When faced with many options, people tend to have more difficulty making decisions and are less satisfied with their choices. With so much information available through social media, it can be overwhelming to weigh every pro and con of each option carefully. This can lead to settling for more straightforward answers to seemingly more apparent questions, such as choosing something or someone that aligns with your interests without requiring much additional thought. Sometimes, it's okay to make a decision that's good enough, meets about 80 percent of your confidence in the choice, and move on. People who are satisfied with a "good enough" decision tend to be happier and not feel the effects of being overwhelmed by too many choices. I am decisive and do not hesitate or procrastinate when making decisions. Indeed, indecision can lead to missed opportunities, and making a decision, even if it is not perfect, is better than not making a decision.

Conclusion

     The importance of business integrity cannot be overstated. Organizations must adopt a strategic approach that aligns company values with its vision and mission. Upholding integrity-based actions is essential for enduring and thriving in the face of ethical and economic challenges. Decision models such as the John Whitmore Model of SMART Goals and the Choice Overload model aid in setting measurable goals and making decisions, even if imperfect.

References

Gamble, J. E., Peteraf, M. A., Thompson, A. A., (2015). Essentials of strategic management: The quest for competitive advantage (Ed. 5th). New York: McGraw Hill Education.

Keller, T. (2012). Every good endeavor: Connecting your work to god’s work. Dutton/Penguin Group.

Krogerus, M., Tschäppeler, R., & Piening, J. (2018). The decision book: Fifty models for strategic thinking (New, fully revised ed.). W.W. Norton & Company.

Rumelt, R. P. (2011). Good strategy, bad strategy: The difference and why it matters (1st ed.). Crown Business.

The Holy Bible, English Standard Version (ESV®). (2016). Crossway, Good News Publishers.

             https://www.esv.org Links to an external site.  (Original work published 2001)

Annotated Bibliography

Fuerst, M. J., Luetge, C., Max, R., & Kriebitz, A. (2023). Toward organizational integrity measurement: Developing a theoretical model of organizational integrity. Business and Society Review, 128(3), 417-435.  https://doi.org/10.1111/basr.12329 Links to an external site.

Summary of Key Points

     The function of management oversight has undergone significant changes in response to companies' growing complexity and the extensive consequences of integrity lapses on various stakeholder groups. Corporate governance has come under intense public scrutiny as companies exert more influence on society. This shift in responsibility requires businesses to address ethical and societal issues such as human rights, environmental sustainability, and poverty.

     Ensuring an organization's integrity has become an essential and non-negotiable aspect of promoting corporate success. Upholding integrity-based actions is pivotal for building a company capable of enduring and thriving while effectively managing ethical and economic challenges. Incorporating integrity into corporate governance frameworks promises to reduce corporate vulnerabilities and promote business effectiveness, exceeding the limitations of governance models solely focused on adhering to regulations.

     Given the intricate task of assessing organizational integrity, businesses are under urgent pressure to develop a robust theoretical framework. This proactive approach is necessary and a strategic move to gauge organizational integrity and conceptualize the ethical structure effectively, staying ahead of potential issues.

Evaluation of the Quality of the Publication

     The Business and Society Review is a business ethics journal that publishes articles that address a wide range of ethical and social issues concerning the relationships between business, society, the environment, and the public good. Articles in the Review present original theoretical and empirical research that contributes directly to business and society. The journal had over 110,000 full-text views in 2023.

Evaluation of the Quality of the Author(s)

     Madeleine Fuerst is the Chair of Business Ethics at the TUM School of Management, Technical University of Munich, in Munich, Germany. Christoph Lütge studied business informatics and philosophy. He obtained his PhD from TU Braunschweig in 1999 and completed his habilitation at LMU Munich in 2005. In 2007, he was awarded a Heisenberg Fellowship. Since 2010, he has been the Chair of Business Ethics at TUM, and since 2019, he has been the Director of the TUM Institute for Ethics in AI. In 2020, Lütge was appointed as a Distinguished Visiting Professor at Tokyo University. He has also held visiting positions at Harvard, Pittsburgh, Taipei, Kyoto, and Venice. Lütge is a member of the Scientific Board of the European AI Ethics initiative AI4People and the German Ethics Commission on Automated and Connected Driving.

Where This Fits Into the Discussion

     Efforts focused on integrating integrity within corporate governance frameworks aim to ensure regulatory compliance, mitigate corporate vulnerabilities, and augment business effectiveness. Assessing organizational integrity, however, presents multiple challenges that necessitate establishing a robust framework. This proactive approach is critical for evaluating organizational integrity and establishing an ethical infrastructure.

Patsioti-Tsacpounidis, I. (2023). Aristotle’s akrasia and corporate corruption: Redefining integrity in business. Philosophy of Management, 22(3), 421-447.  https://doi.org/10.1007/s40926-023-00239-2 Links to an external site.

Summary of Key Points

     Fraud, corruption, and lack of integrity are widespread in the corporate world. Leaders often find themselves in challenging positions when confronted with corporate corruption. Efforts to ensure proper corporate governance have been in place for the last three decades. There is a theoretical basis for corruption in business, which includes concepts such as "akrasia" (moral weakness or incontinence) and "kakia" (wickedness). These concepts reflect the ethical and psychological framework behind corporate corruption and help to explain why corporate managers act unethically.

     Organizations establish a solid theoretical framework for integrity in business by redefining it as a combination of theoretical and practical wisdom. They emphasize the necessity of a philosophical background for managerial practices and discuss the limitations of this approach in global socioeconomic affairs. Organizations must acknowledge the importance of normative and empirical methodologies in studying business ethics and underscore the significance of Aristotle's ethical theory in addressing ethical issues in business.

     Various moral virtues emphasize the importance of integrity. Integrity involves making sound judgments, surpassing the formulation and interpretation of general principles, and possessing the ability to consider the concerns and principles that surface in ethical dilemmas. It's crucial to assess the type of community the company represents and explore how Aristotle's theory can be applied in corporate governance and the relevance of Aristotle's virtue ethics theory to business ethics.

     A perspective based on virtue emphasizes the importance of continuous action within environmental and social contexts as a part of the learning process. Being virtuous means aligning organizational actions with virtuous character. A virtuous person maintains equilibrium by ensuring that their intuitions, perceptions, emotions, and principles are cohesive, leading them to act with integrity. To truly embody a specific virtue, it's crucial to understand the significance of Aristotle's virtue ethics theory in determining the excellent life in business.

Evaluation of the Quality of the Publication

     Philosophy of Management addresses all aspects of the philosophical foundations of management in theory and practice, including business ethics, ontology, epistemology, aesthetics, and politics.  The application of intellectual disciplines to issues facing managers is increasingly recognized to include organizational purpose, performance measurement, the status of ethics, employee privacy, and limitations on the right to manage. Philosophy of Management is an independent, refereed forum that focuses on these central philosophical issues of management in theory and practice. The journal is open to contributions from all philosophical schools and traditions.  The journal publishes four issues per year.

Evaluation of the Quality of the Author(s)

     Dr. Patsioti-Tsacpounidis has been a member of the Department of History, Philosophy, and the Ancient World for over twenty years and is currently the Head of this Department. She has taught courses in Greek Philosophy, Plato and Aristotle, Ethics, Business Ethics, Social and Political Philosophy, Existentialism, and American Philosophy. Her research interests include the applicability of theoretical models from antiquity to contemporary times in business ethics, corporate governance, and global affairs and their significance for conflict or dilemma resolution. She also serves as a member of the Curriculum Committee and as the Chair of the Ranking and Evaluation Committee. Dr. Patsioti-Tsacpounidis holds a Ptychion in Philology from the National and Kapodistrian University of Athens, a Postgraduate Diploma in Linguistics from University College London, an MPhil in Philosophy and Classics from University College London, a Certificate in Public Relations from the London School of Public Relations, and a PhD in Philosophy from the National and Kapodistrian University of Athens.

Where This Fits into the Discussion

     Aristotelian business ethics aims to allow individuals to use their leadership skills and engage in philosophical reflection. The key concepts and theoretical foundations of Aristotelian business ethics include the belief that acting ethically in business can contribute to a person's well-being. It also emphasizes a comprehensive understanding of virtue, focusing on organizational matters. Aristotelian ethical theory holds significant importance in the field of business ethics.