XAT, scheduled to be held on January 05, 2014 is the gateway to entry into premier B-schools like XLRI and XIMB. However, it is quite different when compared to CAT as it is a pen and paper test, and has sections on GK and Decision-Making (DM).
Many aspirants are bewildered by the DM section. Well, to start off with an idea about Ethics and it’s role in Decision making here is a situation:
Suppose that a trolley is running down a hill at a fast speed, heading towards five people at the bottom of the street. When it reaches them it will surely kill all of them. You notice that there is a fat man just next to you. If you push the fat man on the track, his body is large enough to stop the trolley in its tracks. But the fat man will surely die.Will you kill the fat man to save the five men?
These are the typical Decision Making scenarios to test the ethics of a person. Now, XAT will test you upon these frameworks of ethics, but in a business scenario and judge your ability to tackle them as a future manager.
But, first of all let’s look at Ethics.
Why do we compromise in situations as mentioned above?
I.There is too much to gain.
II.There is too much to lose.
III.The watchdogs are asleep.
Does ethics mean different things to different people? Does ethics mean different things at different times to the same person? Why should you act ‘ethically’ when there is a stronger reason to behave otherwise?
How to Resolve Ethical Issues?
Step I: Get the Facts
What are the relevant facts of the case? What facts are unknown?
What individuals and groups have an important stake in the outcome? Do some have a greater stake because they have a special need or because we have special obligations to them?
What are the options for acting? Have all the relevant persons and groups been consulted?
Step II: Evaluate Alternative Responses
Utilitarian Approach: Which option will produce the most good and do the least harm?
Rights Approach: Even if not everyone gets all they want, will everyone’s rights and dignity still be respected?
Fairness or Justice Approach: Which option is fair to all stakeholders?
Common Good Approach: Which option would help all participate more fully in the life we share as a family, community, society?
Virtue Approach: Would you want to become the sort of person who acts this way?
Step III: Decide!
Considering all these perspectives, which of the options is the right or best thing to do?
For the full presentation on “The Frameworks of Ethics”, refer this link on slideshare
Next series of articles will discuss typical Decision Making scenarios.
The author is the Founder-Director of TestCracker. He has done his B.Tech from IIT-KGP and his MBA from XLRI, Jamshedpur. Reach him at yashaswi@testcracker.in