Martin Shrekeli bought patent to lifesaving drug and raised $ price by 5000 percent This was legal but possibly unethical as people could not afford drug and died In this exercise you will post an ethical issue and analyze using IDDR BACKGROUND Chapter 3 Ethics in Business Making Ethical Business Decisions Business decisions involve legal concerns, financial questions, health and safety concerns, and ethical components All corporate actors should think broadly about how their decisions and actions will affect other employees, shareholders, customers, and the community A Systematic Approach IDDR ( I Desire to Do Right ) Using the IDDR approach involves organizing the issues and approaching them systematically This four step process can help eliminate various alternatives and identify the strengths and weaknesses of the remaining alternatives Often, the best approach is for a group (rather than an individual) to carry out the process, which comprises the following steps IDDR METHOD Step 1 Inquiry Identify the parties, specify the problem, and list the relevant ethical principles Step 2 Discussion Compile a list of action options and resolution goals discussing various strengths and weaknesses of each and any legal consequences Decision makers need to consider what they should do before considering what they can or will do Step 3 Decision Come to a consensus decision on an action plan Step 4 Review Evaluate the decision to determine whether the solution was effective Did the action solve the ethical problem Were the stakeholders satisfied with the result Could anything has been handled better The results of this evaluation can be used in making future decisions Applying the IDDR Approach To more fully understand the IDDR approach, it is helpful to work through the process by analyzing an ethical problem For your Discussion this week, you will post an ethical scenario and analyze ASSIGNMENT 1) Post a questionable ethical scenario you are aware of This may be something you have personal experience with or something you must research 2) Apply IDDR analysis, see EXAMPLES BELOW 3) Respond to at least two classmates Ask questions and engage WHEN DOING IDDR 4 STEP Analysis, USE THESE Guidelines as applicable The law Is the action you are considering legal Business rules and procedures Is the action you are considering consistent with company policies and procedures Social values Is your proposed action consistent with the spirit of the law, even if it is not specifically prohibited Your conscience How does your conscience regard your plan Could your plan survive the glare of publicity Promises to others Will your action satisfy your commitments to others, inside and outside the firm The law Is the action you are considering legal

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Martin Shrekeli bought patent to lifesaving drug and raised $ price by 5000 percent! This was legal - but possibly unethical - as people could

Martin Shrekeli bought patent to lifesaving drug and raised $ price by 5000 percent!

This was legal - but possibly unethical - as people could not afford drug and died.

In this exercise you will post an ethical issue and analyze using IDDR:

BACKGROUND:

Chapter 3 - Ethics in Business

Making Ethical Business Decisions

Business decisions involve legal concerns, financial questions, health and safety concerns, and ethical components. All corporate actors should think broadly about how their decisions and actions will affect other employees, shareholders, customers, and the community.

A Systematic Approach: IDDR ("I Desire to Do Right")

Using the IDDR approach involves organizing the issues and approaching them systematically. This four-step process can help eliminate various alternatives and identify the strengths and weaknesses of the remaining alternatives. Often, the best approach is for a group (rather than an individual) to carry out the process, which comprises the following steps.

IDDR METHOD:
Step 1: Inquiry. Identify the parties, specify the problem, and list the relevant ethical principles.
Step 2: Discussion. Compile a list of action options and resolution goals discussing various strengths and weaknesses of each and any legal consequences. Decision makers need to consider what they should do before considering what they can or will do.
Step 3: Decision. Come to a consensus decision on an action plan.
Step 4: Review. Evaluate the decision to determine whether the solution was effective. Did the action solve the ethical problem? Were the stakeholders satisfied with the result? Could anything has been handled better? The results of this evaluation can be used in making future decisions.

Applying the IDDR ApproachTo more fully understand the IDDR approach, it is helpful to work through the process by analyzing an ethical problem. For your Discussion this week, you will post an ethical scenario and analyze.

ASSIGNMENT:

1) Post a questionable ethical scenario you are aware of. This may be something you have personal experience with or something you must research.

2) Apply IDDR analysis, see EXAMPLES BELOW.

3) Respond to at least two classmates: Ask questions and engage!!

WHEN DOING IDDR 4-STEP Analysis, USE THESE Guidelines as applicable:

The law: Is the action you are considering legal?
Business rules and procedures: Is the action you are considering consistent with company policies and procedures?
Social values: Is your proposed action consistent with the "spirit" of the law, even if it is not specifically prohibited?
Your conscience: How does your conscience regard your plan? Could your plan survive the glare of publicity?
Promises to others: Will your action satisfy your commitments to others, inside and outside the firm?
The law: Is the action you are considering legal?