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Vulnerabilities in ethical decision-making
The area that I think I would be vulnerable in ethical decision-making is in the way profits are made in my business. I tend to believe that what matters is how much profit has been made from the business rather than how the profit itself has been made. This is a more traditional profit-centered business mindset. I believe in maximizing profits and returns on investment with no particular regard to how they were made. In this case, there could be social effects from the business activities.
I need to coach myself to always evaluate the effects of the business on the outside environment. I should also train myself to ensure that the business is sustainable and not likely to cause globalization effects. Such effects are caused by practices such as exploitation, environmental and social damage, and child labor. The business that I am undertaking should also be friendly to the community and not have detrimental effects on people’s well-being and health.
Effects of emotions and personal biases on thinking
Personal biases and emotions limit a person’s ability to reason (think) logically. Biases are inclinations towards certain beliefs or perspectives. These beliefs are usually ill-supported by evidence or reason. When one involves personal biases and emotions in his or her thinking, the person would be incapable of looking objectively at the facts. The person will be stuck in his or her worldview, which may not be objective in the first place. Such a person will also be vulnerable since he or she would not be willing to have an open mind about certain issues.
In a business environment, for example, a person may have a personal bias and belief that women cannot make good leaders or managers. Such emotions may lead human resource personnel to recruit managers based on sex rather than merit. This is a biased view and may be detrimental to the firm’s success.
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