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“Decades Top 10 Executive Ethics Scandals.” The Wall Street Journal. Dow Jones &Company, 2013. Web. 15 Nov 2013.
Horovitz, Bruce "Starbucks aims Beyond Latte to Extend Brand." USA TODAY N.P 19 May. 2006. Web. 30 13 Nov. 2013
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-Financial
-Challenges to IS
-Natural Disasters
-Regulations
-Legal
-Formed in 1985,
-COSO is a joint initiative of five private sector organizations and is dedicated to providing thought leadership through the development of frameworks and guidance on enterprise risk management (ERM) internal control and fraud deterrence..
Stage that determines why a decision is needed and what it should accomplish through gathering information and deliberation
Stage where possible alternatives are evaluated with their potential costs and benefits
This stage is where a choice is made to pursue one course of action.
Stage that measures performance results to initial goals and examines both expected and unexpected outcomes
Where actions are taken to put the preferred course of action into practice.
involves anticipating risks and factoring them into decision making
Starbucks sells about 10 million cups of coffee per day. Imagine the environmental impact that these cups make!
Poses serious ethical consequences for the decision maker or others.
Decision Makers face at least two ethically uncomfortable alternatives.
Threats to overall business success
Identify – Risk identification and categorizing
Analyze – Assessment of risks, importance, what-if analysis to see the impact of risks
Evaluate – Prioritize the risks by applying a rating system to help in treating the risks
Treatment – Avoid, transfer, accept, or reduce the risk impacts
Monitor and Review – Auditing of risk management plan
“Threats inherent in the technologies used to reach business success”
Threats to a brand or to the firm’s reputation
To Minimize the environment impact, Starbucks is going to have 100% of their stores equipped with recycling bins by 2015. Doing so, they will save over 100,000 trees per year.
Decisions that have already been determined by past experience.
Certain Environment: Provided full information on the expected results for decision-making alternative.
Risk Environment: Provided probabilities regarding expected results for decision-making alternatives.
Uncertain Environment: Provided with no information to predict an expected outcome.
Example: A student is caught cheating on an exam, administration is forced to make a decision based on the policies.
1. Utility – Does the decision satisfy all?
2. Rights – Does the decision respect the rights and duties of everyone?
3. Justice – Is the decision consistent with the canons of justice?
4. Caring – Is the decision consistent with my responsibilities to care?
October 10, 2007 Radiohead (Rock Band) released their album In Rainbows for three months as an online download and asked their fans to pay whatever amount they thought the album was worth.
Decisions made in response to a unique situation.
Crisis Decision: Occurs when an unexpected problem can lead to a disaster if not resolved quickly and appropriately.
1. How would I feel if my family found out about this decision?
2. How would I feel if this decision were published in the local newspaper or posted on the internet?”
3. “What would the person you know or know of who has the strongest character and best ethical Judgment do in this situation?”