Business Ethics Essay

1356 words - 6 pages

Ethics of care – an ethic that emphasizes caring for the concrete well-being of those near you.
Ethic of virtue – an ethic based on evaluations of the moral character of persons or groups. (Describing the character of someone)
Ethics - The principles of conduct governing an individual or group or the study of morality. Ethics allows us to identify principles of “right” and “wrong” that:
Morality - The standards that an individual, group, or society has about what’s right and wrong. Morals guide our behavior, and help us to “do the right thing”.
Two Types of Ethical Issues:
* Ethical problem: a situation with ethical content requiring a choice between right and wrong.
* Ethical ...view middle of the document...

Deontological Approaches - Focus on “universal ethical principles” e.g., human rights, Kant’s Categorical Imperative.
Act Utilitarianism is…
Consequentialist
i.e., The “rightness” or “wrongness” of an act/decision is based solely on its consequences.
Hedonistic
i.e., Happiness/pleasure/satisfaction is the only intrinsic good.
Focused on maximization (of utility)
i.e., Maximizing the overall net benefit (or minimizing the net cost if all alternatives result in net costs) across all of those affected by the act/decision.
Unconcerned with the distribution of utility
i.e. how the benefits or harms of a decision are distributed is not directly relevant in AU. (But the principle of marginal utility implies that the distribution of benefits/harms of an act has a big impact on its net utility).
Marginal Utility = the utility an individual would gain from one more unit of a thing.
The concept of decreasing marginal utility implies that there is a (limited) “socialist” aspect to utilitarianism.
* If you have lots of some resource, and the marginal utility of that resource is higher for others than for you, ceteris paribus, AU implies you should give some of the resource to them.
However, there is also a (limited) “capitalist” aspect to utilitarianism.
* AU favours efficiency, in that it implies that resources should be directed toward those who can create the most utility with them.

Freedom of one person imposes constraints on other persons. If these constraints require justifications, then freedom will also always require justifications
The freedom one group of agents is given to pursue some of its interests will restrict the freedom other agents have to pursue other conflicting interests
Standards of justice do not override the moral rights of individuals because justice is based on moral rights.
Type of Justice
Distributive – distributing society’s benefits and burdens fairly
Formula: equals should be treated equally (and unequals treated unequally).

EGALITARIANISM -there are no relevant differences among people that can justify unequal treatment. All benefits and burdens should be distributed according to the following formula : Every person should be given exactly equal shares of a society's or a group's benefits and burdens.
CAPITALIST JUSTICE - society's benefits should be distributed in proportion to what each individual contributes to society. ( in terms of effort, productivity and value)
SOCIALISM-the benefits of a society should be distributed according to need, and that people should contribute according to their abilities
LIBERTARIANISM-a person's share of goods will depend wholly on what the person can produce through his or her own efforts or what others choose to give the person out of charity.

Retributive – punishing or blaming a person fairly for doing something wrong
Compensatory – restoring to a person what they lost when he/she was wronged by someone else.
RIGHTS
Right - an entitlement to something (to act...

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