Introduction
Define ethical decision-making and its significance in a business context. Briefly introduce the framework that will be used to explain the process.

Factors Influencing Ethical Decision Making
Discuss the internal and external factors that influence ethical decision-making:
Internal Factors
Corporate Culture: Explain how a company's values, beliefs, and norms impact ethical choices. Provide examples.
Leadership: Highlight the role of leaders in setting ethical standards and influencing employee behaviour.
Individual Ethics: Discuss how personal values and morals of individuals within the organization play a part.
External Factors
Legal Environment: Explain the impact of laws and regulations on ethical decision-making.
Societal Expectations: Discuss how changing societal values and stakeholder pressures influence ethical choices.
Industry Standards: Highlight the role of industry best practices and ethical codes of conduct.

Process of Ethical Decision Making
Outline a step-by-step framework for ethical decision-making:
1. Identify the Ethical Dilemma:
Explain the importance of recognizing and clearly defining the ethical issue at hand.
2. Gather Information:
Emphasize the need for comprehensive information gathering from various sources to understand the situation fully.
3. Identify Stakeholders:
Discuss the importance of identifying all stakeholders involved and their potential interests and concerns.
4. Consider Ethical Frameworks:
Introduce various ethical frameworks, such as utilitarianism, deontology, virtue ethics, etc., and explain how they can guide decision-making.
5. Generate and Evaluate Alternatives:
Explain the process of brainstorming and assessing different courses of action, considering their ethical implications and potential consequences for stakeholders.
6. Choose a Course of Action:
Discuss the criteria for selecting the most ethical option, emphasizing the justification and rationale behind the decision.
7. Implement and Evaluate:
Highlight the importance of implementing the chosen decision ethically and evaluating its outcomes, making adjustments as needed.

Challenges to Ethical Decision Making
Acknowledge the difficulties in maintaining ethical practices:
Discuss common challenges such as conflicts of interest, pressure to meet targets, organizational culture clashes, and lack of transparency.

Conclusion
Summarize the key points discussed. Reiterate the importance of ethical decision-making for long-term business sustainability and maintaining stakeholder trust. Briefly mention the ongoing nature of ethical considerations in a dynamic business environment.