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Importance of Ethical Aspects for Decision-Making

Author

Listed:
  • Zdenek Dytrt
  • Radomir Serek

Abstract

The management theory did not develop equally with the changes in technologies. The consequence of this shortcoming is a prevalence of quantitative management which puts an emphasis on the quantitative values. This represents a risk for the sustainable growth. Therefore, the managerial ethics, which biases qualitative values and attitudes, is important for the managers' decision-making. The effective decision-making process is further based not only on the manager's experience, which may lead to a certain routine, but also on the cooperation among the other departments and educational institutions. Furthermore, the successful innovations, which are often an outcome of the systemic and complex decision-making, require to follow certain rules during their implementation. A person may become an initiator, leader, subject or a consumer of the innovation and should be adequately prepared for all these roles. Despite the abrupt development in the technical areas there is not such progress in the humanities. Education is still more focused on the content and form (thus quantity) rather than on the applications and relations (quality).

Suggested Citation

  • Zdenek Dytrt & Radomir Serek, 2020. "Importance of Ethical Aspects for Decision-Making," Business and Economic Research, Macrothink Institute, vol. 10(3), pages 35-46, September.
    • Handle: RePEc:mth:ber888:v:10:y:2020:i:3:p:35-46
    as

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    References listed on IDEAS

    as
    1. Csikszentmihalyi, Mihaly, 2000. "The Costs and Benefits of Consuming," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 27(2), pages 267-272, September.
    2. Simpson, Penny M. & Siguaw, Judy A. & Enz, Cathy A., 2006. "Innovation orientation outcomes: The good and the bad," Journal of Business Research, Elsevier, vol. 59(10-11), pages 1133-1141, October.
    3. Zdenek Dytrt & Radomir Serek, 2020. "Leadership - Management of Management," Business and Economic Research, Macrothink Institute, vol. 10(1), pages 274-283, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Innovation; Leadership; Managerial Ethics; Responsible Management;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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