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INTRODUCTION
Business ethics can be both a normative( relating to or deriving from a standard or norm) and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken.
Deontological Theory - family of ethical theories encompassing moral rules - nonconsequentialist approach when the consequences of an action are not taken into account for the decision.
The word "deontological" comes from the Greek word 'deon or duty. According to some deontological approaches, some moral principles are binding, regardless of the consequences.
2) Teleological Ethics - Concept of goodness over and above the concepts of rightness and obligation or duty / the concepts of rightness and obligation are defined in terms of goodness.
Utilitarianism - takes its cue from teleological theories and hence according to utilitarianism, our obligation or duty, in any situation, is to perform the action that will result in the greatest possible balance of good over evil.
Utilitarianism is committed to the maximization of the good and minimization of harm and evil. Society ought to produce the greatest balance of positive value or minimum balance of negative value for all affected Ex: Cost and benefit analysis Risk assessment
1.
Not always possible to calculate utility or to analyze massive amounts of information Ignores distribution of good is it uniformly distributed or favours specific groups? No common definition of what is good?
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3.
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Action that produces the greatest balance of value for the greatest number of people. What about the minority?
Ex: What if society decides that it is in the best interest of the public to deny health insurance to those testing positive for AIDS?
KANTIAN ETHICS
1. It has to be universal something that is moral for one person has to be moral for everyone. For example: Dishonesty cannot be justified as a valid moral principle. 2. Respect for rational beings people should be treated with dignity; and not as means to ends.
3. Autonomy (Independence) action has to respect peoples freedom to choose; people are to treat each other fairly and equally.
WEAKNESSES
1.
2.
3.
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Hard to resolve conflicts when criteria has to treat everyone equally decisions typically involve conflicts of interests
* For the virtue ethicist, building character is what life is all about.
Persons
with
strong
character-possesses
Individual Character-holds that identification & responsible development of human traits of nobility (like courage, justice, gratitude, self-discipline, reliability, caring, simplicity etc) determine the value of all human ethical interactions.
Eg: A person retaining his/her dignity & prospects for happiness by living a virtuous life even after losing all his wealth, health & even the loved ones for no fault of him
Work
Character-holds
honesty,
that
identification
&
of the traits
Eg: Managers create a culture supportive of ethical conduct & implement systems towards achieving this (like JW & Narayana Murthy) System Development Ethics Theory may target
a.
b.
c.
1.
Personal Improvement Ethics by promoting personal responsibility for continuous learning, moral excellence directed at companies goals.
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Extra - Organizational Ethics- by promoting collaborative partnerships ,diversity, social resp. like ecological
Ethics