Introduction
In this case, it says that Pat – a famous trader – was noticed using cocaine in the workplace. Through this behavior, he endangers the company, but the manager ignores this since Pat still brings good results to the company. I am acting as a trader who recently got a job at this firm’s thought experiment. I am faced with an ethical dilemma of whether to inform the management about this situation, knowing that it can negatively affect Pat’s career. In this case, the moral problem for the company is the lack of professionalism on the part of Pat and the company’s well-being at risk. Eight steps of ethical decision-making were carried out to make a decision. As a result, it was concluded that this unprofessionalism should not be hushed up, and specific measures should be taken.
Discussion
In this case, it is unethical and unprofessional business conduct since drug use strongly affects concentration and impulsive decision-making. Some studies demonstrate that high levels of risk-taking and impulsivity are associated with substance use disorder (Hynes et al., 2021, Hoots, 2020). Therefore, this ethical problem severely risks the company’s viability. There are three affected parties; me, as a witness, Pat, and the bank’s management with Bob. His cocaine use, in general, could be regarded as an inviolable personal life, but since this happens at work, it already become a work problem. The central management of the bank has the right to be aware of what is happening with its assets and who has them in its hands. In this case, my rights as a trader are to provide an ethically acceptable working environment.
Next, it is necessary to determine the possible consequences for each party. If Pat continues to work under drugs, it can lead to significant losses on the company’s part. There have already been quite a few cases when traders have lost significant amounts of money while under the influence of drugs (Moy &, Pactwa, 2017). Using cocaine or other psychoactive substances is dangerous for the trader and the entire business organization (Baker et al., 2017). My career as a trader may suffer from this, as it is unknown what failures will be, which may lead the company to bankruptcy.
In the next step, it is essential to determine the interests of each of the parties. Our duties with Pat are the same: we are obliged to obey the boss, treat customers equally, and perform our tasks. The responsibilities of management are to treat customers and employees equally and to sign business contracts in the company’s interests. As for character and honesty, as a trader of this company, I feel morally obligated to fulfill the wishes of the client and the company; and I consider using cocaine in the workplace immoral.
To solve this problem, I can take various actions. First, I need to talk to Pat, If he takes measures at this stage, the information will not reach the management, and nothing will threaten his career. If this information is ignored, an attempt will be made to inform management about it. The company will have to spend money on the proceedings and possibly lose the best trader. If this does not bear fruit in this case, I can try to act through an ethics officer or an ombudsman. In this case, the information may go beyond the company and attract the attention of a third party to the company. In the future, if the situation is not resolved, I will need to leave the company and move to another one where ethical values are something meaningful. In this case, the company is still at risk of losing large sums.
Conclusion
The eight steps of ethical decision-making have led me to choose to deal with this moral problem rather than hush up drug use in the workplace. I would accept any consequences of my actions, including losing my job because I am interested in protecting my moral integrity. However, the eight steps led to activities, including talking to the manager to possibly convince him to do the right thing.
References
Baker, H. K., Filbeck, G., & Ricciardi, V. (Eds.). (2017). Financial behavior: Players, services, products, and markets. Oxford University Press.
Hoots, J. K. (2020). Now or Later? Emotional Factors and Decision-Making in Cocaine Use Disorder (Doctoral dissertation, University of Illinois at Chicago).
Hynes, T. J., Hrelja, K. M., Hathaway, B. A., Hounjet, C. D., Chernoff, C. S., Ebsary, S. A.,… & Winstanley, C. A. (2021). Dopamine neurons gate the intersection of cocaine use, decision making, and impulsivity. Addiction Biology, 26(6), e13022. Web.
Moy, R. L., & Pactwa, T. E. (2018). To Catch a Trader: A Video Case Study of Insider Trading. Journal of the Academy of Business Education, 19.
Trevino, L. K., & Nelson, K. A. (2021). Managing business ethics: Straight talk about how to do it right. John Wiley & Sons.