A working model towards enhancing decision-making in a multinational corporation: a case study of Old Mutual, Zimbabwe

Abstract

This dissertation explored the ethical decision-making challenges faced by multinational corporations (MNCs) operating in Zimbabwe’s volatile political, economic, and social environment, with a specific focus on Old Mutual Zimbabwe. As MNCs navigated complex ethical dilemmas in such unstable environments, they had to balance international ethical standards with local realities. This study examined the existing ethical frameworks at Old Mutual and assessed their effectiveness in addressing challenges such as regulatory inconsistency, economic instability, corruption, and cultural pressures. Using a qualitative approach, data was gathered through semi-structured interviews with 30 employees across various organizational levels and supplemented with observational data. The findings revealed that Old Mutual faced significant ethical challenges related to currency instability, political interference, and corruption, which complicated decision-making processes. Additionally, the study highlighted the limitations of current ethical frameworks and proposed a Contextual Ethical Decision-Making (CEDM) model tailored to the Zimbabwean context. This model was designed to enhance ethical decision-making by incorporating local socio-economic and regulatory conditions while maintaining global corporate governance standards. The research contributed to the literature on corporate ethics in developing economies, offering insights for MNCs and policymakers to improve ethical governance practices in similar environments. The study concluded with recommendations for strengthening ethical frameworks and fostering transparency, accountability, and social responsibility in Zimbabwe’s business sector.