EVALUATING BUSINESS ETHICS

EVALUATING BUSINESS ETHICS

ROLE OF ETHICAL THEORIES

Ethical AbsolutismEthical Relativism

TRADITIONAL ETHICAL THEORIES

CONSEQUENTIALIST THEORIES

Egoism Utilitarianism

EGOISM ADAM SMITH

An action is morally right if the decision maker freely decides in order to pursue either his (short term) desires or his (long term) interests.

UTILITARIANISM

An action is morally right if it results in greatest amount of good for the greatest amount of people affected by the action.

UTILITARIANISM AND COST BENEFIT ANALYSIS

PROBLEMS WITH UTILITARIANISM

SUBJECTIVITY

PROBLEMS OF QUANTIFICATION OR MEASUREMENT

DISTRIBUTION OF UTILITY

RULE UTILITARIANISM

Two Principles I.An action is right from an ethical point of view if and only if action would be required by those moral rules that are correct. II.A moral rule is correct if and only if the sum total of utilities if everyone were to follow that rule is greater than the sum total utilities produced if everyone were to follow some alternative rule.

NON CONSEQUENTIALIST THEORIES

THE CONCEPT OF RIGHT

In general a right is an Individuals entitlement of something.

NEGATIVE AND POSITIVE RIGHTS

RIGHTS AND DUTIES

BASIS OF MORAL RIGHTS

Emmanuel Kant (1724 1804)

KANTS CATEGORICAL IMPERATIVE

First Formulation An action is morally right for a person in a certain situation if and only if, the persons reasons for carrying out the action is a reason that he or she would be willing to have every person act on, in any similar situation.

SECOND FORMULATION

An Action is morally right for a person if and only if in performing the action the person does not use others merely as a means for advancing his or her own interests, but also both respects and develops capacity to choose freely for themselves.

JUSTICE AND FREEDOM

DISTRIBUTIVE JUSTICE

JUSTICE AS EQUALITY EGALITARIANISM

JUSTICE BASED ON CONTRIBUTION Capitalist Justice

JUSTICE BASED ON NEEDS AND ABILITIES - SOCIALISM

JUSTICE AS FREEDOM - LIBERTIANISM

RETRIBUTIVE JUSTICE

COMPENSATORY JUSTICE

CONTEMPORARY ETHICAL THEORIES

FEMINIST ETHIC OR ETHICS OF CARE

An approach that priorities empathy, harmonious and healthy social relationships, care for one another and avoidance of harm above abstract principlesEthics of care emphasizes two moral demands.

we each exist in a web of relationships we have with specific persons.

2.We each should exercise special care for those with whom we are concretely related by attending to their particular needs, values, desires and concrete well being as seen from their own personal perspective and by responding positively to those needs, values, desires, and concrete well being particularly of those who are vulnerable and dependent on our care.

VIRTUE ETHICS

Morally correct actions are those undertaken by actors with virtuous characters. Therefore, the formation of virtuous character is the first step towards morally correct behavior Intellectual virtues wisdom Moral virtues Honesty, Courage friendship, merely loyally, patience