Question

How do organizations use decision making to maximize value and what ethical considerations should be addressed"

Answer 1

Organizations use decision making process to evaluate different alternatives, different course of action and the exhaustive portfolio of goods and services to decide what is to be produced, for whom to be produced and how much is to be produced. It makes the organization to take right decisions that can maximize profit for the organization and its stakeholders.

While doing so, the organization should focus upon creating value for the customers, follow the government compliance and work for the environmental conservation. These developments come when an organization instills corporate governance and train employees to become ethical in their conduct. At the same time, organization should set up whistle blower polices and risk management framework so that the organizational vision is implemented across the organization. These ethical considerations will give strengths to the decision making process and organizational value creation for the consumers.