1. Business Ethics
Act-utilitarianism holds that each case should be judged separately in terms of which possible action would maximise happiness; this means that there are no rules to follow, but the theory seems to provide a decision-procedure to act upon in that one acts upon a principle of justice. However, as a system of moral analysis, Utilitarianism has a number of difficulties. One of the major problems is the fact that it is extremely difficult to measure happiness, and if it is not possible to decide which of several available actions produces the most happiness, it must not be possible to decide which action is the right one. Also a particular action generating a high degree of happiness may have consequences that have the opposite effect. Can it be morally right to have a completely innocent and well person killed if two seriously ill people could be saved by an organ transplantation? Is an action always and incontrovertibly right because it gives greatest happiness to the greatest number of people? In addition to this it has the property of universalisality in that the right action will be right for everyone. Also, Utilitarianism fails to measure the intensity of given sides to an issue, and therefore, limits the ability to judge true happiness among members of society. .
Virtue ethics is a very different approach to the others and central to Aristotle's work. It does not primarily concentrate on the right action as such; the right action according to virtue ethicists is the one that the virtuous agent would do. Virtue ethics takes the central feature of morality to be the virtuous character, and the account of what the virtues are as the basis of the theory. Cicero elaborated these notions, and applied them to certain business contexts in a long letter to his son "On Duties" (De Officiis). He attempts to address the very practical question of what we ought to do when what is "right" and what is "advantageous or profitable" conflict with each other.
" Great ethics can be summed up as good for business in the long term. ... Business ethics is necessary for the foundations of corporations. ... We take for granted the reality that ethics does exist as we take the world of business as inclined. ... Business ethics is not a commodity, which remains in an isolated compartment from business itself as a lofty and consequently expendable extra. ... Its soul purpose is to clarify the entirely realistically, practical business like role that ethics play in business practices. ...
As a result, it can be claimed that natural moral law cannot be applied to issues of business ethics. ... Business ethics does not often involve clear cut decisions between right and wrong; more often than not businesses are concerned with balancing the interests of shareholders, with those of employees and customers. Therefore, it can be maintained that the absolute principles of natural moral law are not useful when applied to the complex issues raised by business ethics. ... It is the narrow nature of these precepts that present one of the initial problems encountered when applying natural...
Introduction Are business ethics merely a fashion? ... Or is business ethics something more complicated, ore involved in the society in which business operates? ... So where does business ethics fit into all this? ... Business ethics can be a difficult concept to grasp. ... It provides a complex and involved resource for business ethics. ...
Executive Summary 2.Theoretical Approaches to Business Ethics 3. ... References Executive Summary Ethics in business has been an issue as long as exchange and business have occurred. ... There is an acceptable relationship between ethics in business and business ethics for the last is at one and the same time, pundit, faultfinder, scholar and prophet on the previous. ... Introduction Business ethics (likewise business ethics) is a kind of used ethics or professional ethics that analyzes moral principles and moral or honest troubles that develop in a business setting. ... Business ethics has ...
As Wartick & Wood assert, "Business ethics is based upon some normative concepts about they way business should operate" (Wartick & Wood, 1998, p. 124). Since this day and age we are living in, business practices mostly seem to be publicized as unethical, the word "should" that is emphasized in Wartick and Woods definition of business ethics stands out. People tend to be more apt to uphold a higher code of ethics in a personal or societal context, as opposed to a business context. ... The formal code of ethics comes in various forms, such as vision and mission statements, and written polic...
BUSINESS ETHICS Ethics to me means having and using ones morals to do the right thing. Ethics is so important in business because it gives a company credibility. ... Ethics has such a big impact on whether a business is a success or a failure. ... Reverence for place Ethics is like the foundation for a successful business. ... The business world would cease to exist without ethics to keep businesses on the straight and narrow. ...
Business ethics are a hot topic these days. ... So what is "Business Ethics"? ... Consequently, business ethics can be strong preventative medicine. ... Assumptions of Business Ethics Suppose we contend that business is indeed an honorable profession? ... There are, however, pitfalls in business, as in any other profession, which is why business ethics is an important field of study, a sub-field of professional ethics (which is itself a sub-field of role ethics). ...
Can really define ethics? According to Webster dictionary ethics can be defined as "a system of moral principles" (Webster dictionary). ... Both ethics and morals are using when evaluating any type of business and different situations that can occur within a business. ... How a business communicates with the customers is always important because the customers keep the business growing. ... The business's job is to keep the business going and to meet the needs of all customers. ...