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This document discusses various ethical theories in business, including consequentialist and non-consequentialist normative theories. It describes egoism, utilitarianism, and Kantian ethics as consequentialist theories. Non-consequentialist theories include duties, moral rights, and prima facie principles. The document also discusses normative business ethics theories like the stockholder theory, stakeholder theory, and social contract theory.
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1. The action that is cause for concern is that Raj decided to lie and inflate his GPA and SAT scores on his resume in order to improve his chances of getting a summer internship at the Research Institute.
2. The Research Institute may be affected if they hire Raj based on false information. His potential coworkers and bosses may also be affected if he is not actually qualified for the role.
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This document discusses ethical decision making in organizations. It covers several topics including:
1) Factors that influence behavior such as opportunities, organizational environment, individual behavior, and moral philosophy.
2) How ethical decisions are made by considering the end, means, motive, and consequences.
3) The role of moral philosophies like utilitarianism and humanism in decision making.
4) Suggestions for improving ethical decision making through codes of ethics, interaction with colleagues, and control systems.
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This document outlines and compares several major ethical theories: relativism, which holds that moral principles depend on context rather than being absolute; divine command theory, which states that an action is morally right if God commands it; ethical egoism, which argues people should act in their own self-interest; utilitarianism, which evaluates actions based on their consequences and ability to produce happiness; and social contract theory, which views moral obligations as dependent on implicit agreements within a society. For each theory, the document presents key aspects of the view and potential arguments both for and against it.
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Traditionally, normative ethics (also known as moral theory) was the study of what makes actions right and wrong. These theories offered an overarching moral principle one could appeal to in resolving difficult moral decisions.
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Ethics is :
The study of standards of conduct and moral judgment, moral philosophy
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This document discusses several major ethical theories that address how to determine right and wrong actions:
1. Virtue ethics focuses on developing good character and acting as a virtuous person would in any given situation. Thinkers like Aristotle, Confucius, and Socrates contributed to this view.
2. Consequentialism judges actions based on their consequences, with utilitarianism arguing an action is right if it produces the greatest happiness for the greatest number of people.
3. Non-consequentialist views like deontology and divine command theory argue actions should be judged based on adherence to rules, duties or divine laws rather than consequences. Immanuel Kant's categorical imperative is a key example of deontology
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Nonconsequential reasoning approaches ethics through defined rules and duties rather than considering consequences of actions. There are several types of nonconsequential reasoning:
1) Act-based reasoning focuses on individual acts and situations, claiming there are no general rules and people act on intuition. However, this lacks critical thinking and different intuitions could harm others.
2) Rule-based reasoning believes in set behavioral rules that ensure morality if followed, such as divine ethics which base actions on religious doctrine, and duty ethics like Kant's which focus on universal logical rules.
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Here are my responses to the questions about the ethics case study:
1. The action that is cause for concern is that Raj decided to lie and inflate his GPA and SAT scores on his resume in order to improve his chances of getting a summer internship at the Research Institute.
2. The Research Institute may be affected if they hire Raj based on false information. His potential coworkers and bosses may also be affected if he is not actually qualified for the role.
3. The Research Institute could end up hiring someone who is not actually qualified for the job based on inaccurate information. This could negatively impact workplace productivity and morale. Raj's coworkers may have to cover for him or his work may not meet standards.
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The document discusses two major ethical theories - Utilitarianism and Stakeholder Theory. Utilitarianism is a teleological ethical theory that determines if an action is right based on its consequences and whether it results in the greatest happiness for the greatest number of people. Stakeholder Theory focuses on creating value for all groups affected by a company's actions to achieve sustainability and maximize value for shareholders over time.
Deontological ethics
Deontological ethics focuses on adherence to moral rules and duties rather than consequences. It is based on the ideas of Immanuel Kant, who argued that an act is only right if it is done from duty and respects rational moral laws. For Kant, the only unqualified good is a good will, and morality requires acting only on principles that could become universal rules followed by all rational beings. He formulated the categorical imperative as a test of whether actions truly respect humanity as an end in itself.
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This document discusses ethical theories and their application in public health nursing. It outlines several normative ethical theories: consequentialism, deontology, principlism, and virtue ethics. Consequentialism focuses on achieving the greatest good for the greatest number. Deontology emphasizes duties and moral rules. Principlism proposes four principles: respect for autonomy, nonmaleficence, beneficence, and justice. Virtue ethics examines good/bad character traits. In public health, utilitarianism and the four principles are most dominant. The document also notes some major ethical tensions in public health around individual/community rights, weighing costs/benefits, and privacy versus utility.
Business ethics ethical theory
This document provides an overview of ethical theories, including both traditional and contemporary approaches. It discusses the normative nature of ethical theories and describes some key traditional consequentialist theories like utilitarianism, egoism, and hedonism. It also outlines non-consequentialist approaches including deontology based on duties and virtues. Contemporary ethics discussed include ethical relativism and postmodern approaches. The document serves as an introductory guide to the major concepts and debates in ethical theory.
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This document outlines and describes 9 major ethical theories that provide bases for moral decision making: 1) Divine Command Theory, 2) Ethics of Conscience, 3) Ethical Egoism, 4) Ethics of Duty, 5) Ethics of Respect, 6) Ethics of Rights, 7) Utilitarianism, 8) Ethics of Justice, and 9) Virtue Ethics. It provides a brief 1-2 sentence description of the core idea behind each theory for determining right and wrong actions.
Moral theory
Moral theory is the study of values and guidelines that govern how we live, including the justification of these values. There are two main branches: normative ethics, which examines applied ethics, and theoretical ethics, which focuses on moral reasoning. Moral theories provide conceptual frameworks to explain moral concepts, clarify why actions are right or wrong, and help analyze and rank moral concerns. Theories also offer guidance for resolving moral issues. Major types of theories include ethical relativism, which views morality as subjective to individuals or cultures, and universalist theories, which hold that objective moral principles exist independently of personal or cultural beliefs.
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This document introduces several ethical theories: Kantianism focuses on treating people as ends rather than means; utilitarianism evaluates actions based on their consequences and maximizing happiness; social contract theory proposes that individuals implicitly consent to moral rules for the benefit of society; and virtue ethics emphasizes cultivating moral character through habitually doing right actions. The document provides examples applying these theories to scenarios around plagiarism, highway construction, computer viruses, marketing practices, and more.
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Business ethics C3 theories principles in_business_ethics
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Business law
Businesses have legal and ethical obligations. Ethical theories provide frameworks for determining right and wrong actions. Utilitarianism and Kantian ethics focus on consequences and duties. Social responsibility theories say businesses should consider stakeholders, avoid harm, or do good. Conducting social audits can help businesses meet legal and ethical standards.
1.) What value, if any, do you see in business students studying t.docx
1.) What value, if any, do you see in business students studying the basis of ethical theory ?
2.) what normative theory or general approach to ethics do you most plausible or attractive, and why?
3.) can people who disagree about normative ethical theory still reach agreement on practical questions in the business world
Book : chapter #2
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Chapter Two:
Normative Theories of Ethics
*
*
OverviewChapter Two examines the following topics:Consequentialist vs. nonconsequentialist theories and egoismUtilitarianism, organizations, and self-interestKant’s ethics, categorical imperative, good willNonconsequentialism and moral rightsUtilitarianism and the Optimal CodeMoral decision making and related obligations, ideals, and effects
Moral Issues in Business
Chapter 2
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IntroductionWhat appropriate principles do we rely on when making moral judgments? There is no consensus among those who study ethics.A variety of different moral principles and ethical considerations intertwine and sometimes compete.
Moral Issues in Business
Chapter 2
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Introduction (continued)Ethical dilemmas: Situations involving conflict between ethical principles or normative prioritiesDilemmas have deep impact on the evolution of ethical reflection. Solving ethical dilemmas involves:Appeal to theoretical constructsReevaluation of established moral standards and inherited intuitions
Moral Issues in Business
Chapter 2
*
Consequentialist and Nonconsequentialist TheoriesConsequentialist theories: Those that determine the moral rightness or wrongness of an action based on the action’s consequences or resultsNonconsequentialist (or deontological) theories: Those that do not only determine the moral rightness or wrongness of an action based on the action’s consequences
Moral Issues in Business
Chapter 2
*
(1) EgoismEgoism: The view that morality coincides with the self-interest (well-being) of oneself or an organization one is part ofEgoists: Those who determine the moral value of an action based on the principle of self-interestAn action is morally right if it promotes one’s long-term self-interest. An action is morally wrong if it undermines the agent's self-interest.
Moral Issues in Business
Chapter 2
*
(2) Egoism Personal egoists: Those who adopt an egoist ethic for t ...
Egas chapter 1,2
This document discusses ethics, governance, and sustainability. It covers several topics related to business ethics including theories of ethics like deontological, teleological, and virtue ethics. It discusses the importance of ethics in business and issues in various areas like accounting, human resources, marketing, and production. Business ethics aims to ensure companies do not cause harm to society through their products and processes. Maintaining ethical standards can help companies attract and retain talented employees.
Ethics, Governance and Sustainability
This document discusses ethics, governance, and sustainability. It covers several topics:
- Ethics is about determining right and wrong conduct based on moral principles. Corporate governance should strive for high ethical standards internally.
- There are different theories of ethics, including deontological (duty-based), teleological (outcome-based), utilitarianism (greatest good for greatest number), and virtue ethics.
- Business ethics is important for maintaining trust with stakeholders and society. Ethical businesses can prosper more in the long run.
Ethics .....
1. Business ethics examines ethical principles and problems that arise in business. It applies to how businesses interact with the world and customers.
2. There are often conflicts between serving the interests of employees, businesses, and society. Different views exist on a business's moral duties.
3. Business ethics establishes standards for right and wrong behavior in business based on public interests, organizations, and individuals' values. It distinguishes ethical from unethical conduct.
TOPIC -2.pptx
This document discusses business ethics and ethical theories. It defines business ethics as the moral principles that should govern business activities. It discusses the essential features of business ethics and levels of ethical decision making in business. It also covers the need for business ethics, elements of business ethics, and provides an overview of several ethical theories including utilitarianism, deontology, social contract theory and virtue theory.
Chap004
The document discusses several ethical issues that multinational firms may face, including employment practices, human rights, environmental regulations, and corruption. It also outlines approaches to ethics like utilitarianism, Kantian ethics, and rights theories. The document recommends that firms hire people with strong ethics, build an ethical culture, use ethical decision-making processes, and develop moral courage to ensure ethical behavior.
Lecture 125477882211779933555555522144444
The document provides an overview of a seminar on business ethics and social responsibility. It discusses several approaches to normative ethics including virtue ethics, consequentialism, deontology, and theories of justice. It then covers the concept of ethical leadership, which has four dimensions: purpose, being a moral person, being a moral manager, and having meaningful leadership-follower relationships. The moral manager dimension focuses on how ethical leadership is practiced in everyday operations through role modeling, communication, and reinforcing values and norms.
Business ethic & values
This document discusses business ethics and its importance. It explains that business ethics examines the moral standards and values as they apply to business policies, institutions, and behaviors. Business ethics is important because ethical behavior is the best long-term business strategy and ethics helps ensure fairness for all stakeholders, including employees, customers, suppliers, and the community. The document also notes that as businesses operate globally, managers face complex ethical dilemmas when balancing economic and local interests in different countries.
Business ethics grp in POM
This document defines business ethics as written and unwritten codes that govern business decisions and actions. It discusses how business ethics asks what is right and wrong in business situations. The document outlines four levels of ethical questions in business: society, stakeholders, internal policy, and personal. It also discusses tools of ethics including values, rights and duties, moral rules, and human relationships. The document provides examples of basic ethical principles like promise keeping, nonmalevolence, mutual aid, and respect for persons and property.
Evolution of Ethics in India.docx
This document provides a review of Indian philosophy and business ethics. It discusses how ethics was once seen as irrelevant to business but is now seen as critical to success. It explores the meaning of business ethics in the context of major Indian philosophical traditions like Hinduism, Buddhism, Jainism, and Arthashastra. The paper is divided into sections on the characteristics of Indian philosophy and ethics, management ethos in these traditions, relevance to modern governance, and individual ethics. Overall, it aims to establish links between ancient Indian ethics and modern business ethics concepts.
Foundations of ethics
The document summarizes key concepts in business ethics including:
- Utilitarianism holds that actions should maximize good for the greatest number of people. Panera Cares aligns somewhat with utilitarianism and Sidgwick's dualism.
- Deontological frameworks like Kant's ethics judge actions based on universal principles rather than consequences. Kant argued decisions should be rationally universalized.
- The Business Standards Codex outlines eight principles of ethical behavior for companies: fiduciary duty, property rights, reliability, transparency, dignity, fairness, citizenship, and responsiveness.
Theoretical Bases for Analyzing the Ethics of a DecisionAdapte.docx
This document summarizes three major theoretical perspectives on ethical decision-making: utilitarianism, profit maximization, and universalism.
Utilitarianism holds that the ethical choice is the one that results in the greatest benefit for the greatest number of people, even if it harms some individuals. Profit maximization is a subset of utilitarianism that says businesses should choose the option that maximizes profits. Universalism argues that people have inherent worth and rights that should not be violated for any ends.
The document discusses criticisms of each perspective and notes they are simplified here for practical application to decision-making. It suggests choosing one as a "home base" theory but also considering alternatives if the home theory does
Global values to business ethics ...
This document discusses ethics in business. It defines business ethics as examining ethical rules and principles in a commercial context. Companies are increasingly concerned with ethics due to fraud scandals. There are challenges to international business ethics as values differ across cultures with no universal code. Acting ethically can help ensure sustainable development, healthy relationships, and competitive advantage. Effective business ethics involves outlining both rigid values like honesty and flexible values that may vary by situation. An ethical framework for international cooperation requires agreement on rigid values while adapting flexible values across cultures.
RESPOND TO THE FOR FURTHER REFLECTION” QUESTIONS.docx
RESPOND TO THE “FOR FURTHER REFLECTION”
QUESTIONS FOUND IN THE GREY SHADED
STUDY CORNER SECTION AT THE END OF EACH
CHAPTER.
AN 800 - 1000 WORD Reflection RESPONSE
TO THE QUESTIONS IS NEEDED TO BE
ELIGIBLE FOR FULL CREDIT.
BE PREPARED TO SHARE YOUR VIEWS DURING
CLASS DISCUSSIONS.
MANAGEMENT ETHICS
BUMGT 235 – UW-STOUT
Chapter Two:
Normative Theories of Ethics
*
*
Ponzi scheme
Bernie Madoff and the SECBernie Madoff’s Ponzi scheme may have cost investors up to $65 million
Many organizations failed after Madoff ‘s crimes discovered
Securities and Exchange Commission had numerous complaints that it failed to follow up on properly
Subsequent SEC analysis claimed errors due to inexperienced staff
A painful reminder that we depend on regulatory agencies to protect us
*
Bernie Madoff (arrested Dec 11, 2008)
*
Introduction Ethical dilemmas: Situations involving conflict between ethical principles or normative prioritiesDilemmas have deep impact on the evolution of ethical reflection. Solving ethical dilemmas involves:Appeal to theoretical constructsReevaluation of established moral standards and inherited intuitions
Moral Issues in Business
Chapter 2
*
Consequentialist and Nonconsequentialist TheoriesConsequentialist theories: Those that determine the moral rightness or wrongness of an action based on the action’s consequences or resultsNonconsequentialist (or deontological) theories: Those that do not only determine the moral rightness or wrongness of an action based on the action’s consequences
Moral Issues in Business
Chapter 2
*
EgoismEgoism: The view that morality coincides with the self-interest (well-being) of oneself or an organization one is part ofEgoists: Those who determine the moral value of an action based on the principle of self-interestAn action is morally right if it promotes one’s long-term self-interest. An action is morally wrong if it undermines the agent's self-interest.
Moral Issues in Business
Chapter 2
*
Egoism Personal egoists: Those who adopt an egoist ethic for themselves but do not make the universal claim that all individuals should do the sameImpersonal egoists: Claim that the pursuit of one’s self-interest should motivate everyone’s behaviorEgoists do not necessarily care only about pursuing pleasure (hedonism) or behave dishonestly and maliciously toward others.Egoists can assist others if doing so promotes their own well-being.
Moral Issues in Business
Chapter 2
*
UtilitarianismDefinition: The moral theory that we should act in in ways that produce the most pleasure or happiness (and least amount of suffering) for the greatest number of people affected by our actionsMain representatives: The British philosophers Jeremy Bentham (1748–1832) and John Stuart Mill (1806–1873)The principle of utility: Actions are right if they promote the greatest human welfare, and wrong if they do not
Moral Issues in Busin ...
Module 2 Methods of Ethical AnalysisApplication of Ethical Theo.docx
Module 2: Methods of Ethical Analysis
Application of Ethical Theories
In module 1, we acquired a foundation in classical ethical theories. In this module, we will learn how to apply this knowledge to ethical challenges in today's business world and, more specifically, to the area of information technology.
As we learned in module 1, the main traditional ethical theories tend to be either rule-based (deontological) or consequentialist (teleological). Both types of theories provide a framework for deciding whether actions are right, depending upon the consequences that result from the action (consequentialist) or whether the action follows the relevant rules for ethical behavior (deontological). Traditional ethical theories were intended to apply universally to ethical dilemmas and obviously didn't factor in issues such as marketplace competition, stockholders, and today's ever-changing world of information technology. Today's IT manager needs to be able to address ethical issues and to find resolutions in concrete business terms rather than engage in a philosophical ethical debate. However, we can use those theories to guide our ethical decision-making process.
In addition to the ethical theories already presented, business ethics attempts to take traditional ethics and apply them practically to a business context. The normative theories of business ethics (NTBE), introduced to the information systems community in large part by Smith and Hasnas, provide three basic approaches to ethical problems: stockholder, stakeholder, and social contract theories (Smith, 2002). In this section, we will introduce those theories as well as make connections to classical theory.
Normative Theories of Business Ethics
As its name indicates, the stockholder theory of NTBE focuses on making ethical decisions that benefit stockholders. According to this theory, because stockholders have invested in the company for their own profit, actions taken by the company should be focused on benefiting the bottom line. A manager or employee has a responsibility to use corporate resources in ways that do not take away from the stockholders' benefits. Stockholder theory instructs managers to act within legal constraints. It does not instruct or encourage managers to ignore ethical constraints.
Stakeholder theory expands a manager's responsibility beyond the stockholders to include anyone with an interest in the firm. This could include employees, customers, stockholders, and potentially even competitors. Given that there is a potential conflict among the interests of the various stakeholders, the manager's challenge is to balance those interests and to provide the best possible solution that does not substantially infringe on any individual stakeholder group.
According to social contract theory, businesses have ethical obligations to benefit society by fulfilling customer and employee interests within the generally accepted rules or codes. If there were a hypothetical contract ...
BHMS4508 Business and Professional Ethics
The document discusses normative ethical theories that can be used to evaluate business ethics decisions. It outlines several major theories including egoism, utilitarianism, ethics of duty, and ethics of rights and justice. These theories can be categorized as either consequentialist, focusing on outcomes, or non-consequentialist, independent of outcomes. The document advocates an approach of ethical pluralism, considering insights from multiple theories to gain a well-rounded perspective for complex business ethics decisions.
Business ethics and spirituality
The document discusses business ethics from several perspectives. It provides definitions of business ethics from various scholars, focusing on establishing ethical standards and norms to guide right and wrong behavior in business. It also discusses frameworks for ethical decision making, the complex and dynamic nature of business ethics, and the importance of developing virtues and moral character. Both arguments for and against business ethics are presented. The role of spirituality in business ethics is explored, distinguishing between morality and ethics.
Business ethics theories
Various approaches to Business Ethics. Friedman's theory, kant's Theory ,Utilitarianism theory ,Emergence of new values
THE ETHICAL AND SOCIAL RESPONSIBILITIES OF ENTREPRENEURS
This document discusses the ethical and social responsibilities of entrepreneurs. It covers topics like ethical issues in entrepreneurship, stakeholders, corporate social responsibility, and developing an ethical workplace culture. Regarding ethical issues, it discusses discrimination, harassment, unethical accounting, health and safety, and more. It also discusses legal issues like intellectual property, contracts, fraud, and antitrust laws. Additionally, it covers social entrepreneurship and the qualities of social entrepreneurs like being ambitious, mission-driven, strategic, and results-oriented. Finally, it discusses creating an ethical workplace culture with principles like respect, diversity, gender equality, and trust.
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- 5. makes use of self interest as the measuring rod for actions performed
- 6. is equated with an individual’s personal interest but it is equally identified with the interest of an organization or society
- 9. Kantian Ethics Proponent: Immanuel Kant (1724-1804) This theory introduces an important humanistic dimension to business decisions, which is to behave in the same way that one would wish to be treated under the same circumstances and to always treat other people with dignity and respect.
- 12. Normative theories of business ethics Stockholder theory: expresses business relationship between stock owners and their managers running the day-to-day business of the company. As per the theory, managers should pursue profit only by all legal, non-deceptive means.
- 13. Normative theories of business ethics Stakeholder theory: argues that a corporate’s success in the market place can best be assured by catering to the interests of all its stakeholders (shareholders, customers, employees, suppliers, management and the local community). This objective is achieved when corporations adopt policies that ensure an optimal balance among all stakeholders.
- 14. For example, Marico, the makers of Parachute oil, discovered a harmless tint in the oil from one of its production lines. The company withdrew the batch from the market, shut down the production line, but kept the workers on payroll and involved them in the investigation of the cause. In a short time, the workers located the cause, rectified it and resumed production
- 15. Normative theories of business ethics Social Contract theory: is based on the principles of “social contract”, wherein it is assumed that there is an implicit agreement between the society and any created entity such as a business unit, in which the society recognises the existence of a condition that it will serve the interest of the society in certain specified ways.