Evidence-Based Management And Ethical Decision Making

Evidence-based management allows for decisions to be made after facts and evidence are considered and places the best interest for the entire company and consumers as most important (Kinicki & Williams, 2012). Steps to approach evidence-based management include treating the business as if it has plenty of room for development, such as a prototype, viewing the company as consumers and outsiders would, and appreciate failure and take it as a growing opportunity. An application of evidence-based management is business analytics, which is a sophisticated version of business data analytics, such as portfolio analytics and time-series forecast (Kinicki & Williams, 2012). Predictive modeling, multiple applications, and support are ways to achieve business analytics. For example, UPS achieves multiple applications by not only applying data to tracking packages but also to usage patterns to evaluate defections and problems and better customer service.

Questions that should be asked after a proposal include if it is legal, if it maximizes shareholder value, and if it is ethical. Ethical decisions can be made by following ethical principles; they can also be made by focusing on the probable consequences of the decision, all which can be found in a decision tree (Kamble & Kumar, 2017). Harboring an ethical workplace will not only allow employees to feel welcome, safe, and experience compassion, but it can also enhance the managerial and organizational aspects of the company, increasing consumers and