What Factors Influence Ethical Decision Making?

What are six steps of decision making?

Overview of the 6-Step ProcessStep 1: Define Desired Outcomes and Actions.

Step 2: Endorse the Process.

Step 4: Develop Alternatives or Options.

Step 5: Evaluate, Select, and Refine Alternative or Option.

Step 6: Finalize Documentation and Evaluate the Process..

What are the 5 main factors that influence purchasing decisions?

Here are 5 major factors that influence consumer behavior:Psychological Factors. Human psychology is a major determinant of consumer behavior. … Social Factors. Humans are social beings and they live around many people who influence their buying behavior. … Cultural factors. … Personal Factors. … Economic Factors.

What are the 4 elements that influence consumer decision making?

There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system.

What are the personal factors that influence consumer Behaviour?

Personal factors include: age, occupation, life cycle, economic, lifestyle, personality and self-concept. Based on prior research evidence, the factors for consumer behaviour in HE adapted by the authors are: gender/sex, age, family, prior education, income and lifestyle.

What are the 7 steps to ethical decision making?

1 – GATHER THE FACTS. □ Don’t jump to conclusions without the facts. … 2 – DEFINE THE ETHICAL ISSUE(S) … 3 – IDENTIFY THE AFFECTED PARTIES. … 4 – IDENTIFY THE CONSEQUENCES. … 5 – IDENTIFY THE RELEVANT PRINCIPLES,6 – CONSIDER YOUR CHARACTER &7 – THINK CREATIVELY ABOUT POTENTIAL.8 – CHECK YOUR GUT.More items…

What are the factors that influence decision making?

There are several important factors that influence decision making. Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance.

What are 3 factors that you should consider when making an ethical decision?

Making Ethical Decisions: Things to Ask YourselfDoes your decision conflict with any of the core ethical values?Think of someone whose moral judgment you respect. … How will your decision affect others?Ask yourself: Are my actions legal?Are there regulations, rules, or policies that restrict your choices/ actions?Would your decision be perceived as unethical?More items…•

What are the factors influencing consumer buying decision?

The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer. These factors can individually or collectively affect the buying decisions of the consumers.

What are the principles of ethical decision making?

The five principles, autonomy, justice, beneficence, nonmaleficence, and fidelity are each absolute truths in and of themselves.

What are some examples of ethical decision making?

10 Great Examples of Ethical Decision Making In BusinessCostco’s Decision To Pay Fair Wages. … Volkswagen’s Strategy to Reduce its Workforce Without Layoffs. … Best Buy’s Commitment to Sustainability. … Woolworth’s gets out of liquor and gambling. … CVS Health Stops selling tobacco. … Chick-fil-A Pays for Employee Education. … McDonald’s invests in Employee Skills and Animal Rights.More items…•

How your emotions influence your decision making?

Emotions can effect not just the nature of the decision, but the speed at which you make it. Anger can lead to impatience, and rash decision-making. … While if you feel afraid, your decisions may be clouded by uncertainty, and caution, and it might take you longer to choose.