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Consequentialism Theory in Business Ethics
- 1. CONSEQUENTIALISM M A R Y J O Y FA B R E R O | C A R L A FAT I M A FA R
- 2. “ A discipline used to explore the rightness or wrongness of business activities” – BESR, Lesson 2 BUSINESS ETHICS Traditional Ethical Theories Consequentialism Deontological ethics Moral Rights Ethics of care Virtue Ethics TOPICOVERVIEW “foundation of business ethics”
- 3. BUSINESS ETHICS Traditional Ethical Theories Consequentialism Deontological ethics Moral Rights Ethics of care Virtue Ethics TOPICOVERVIEW DESCRIPTIVE “How the world is” Describe moral belief/system of group or societies NORMATIVE “How the world should be” Help us figure out what is right or wrong
- 4. BUSINESS ETHICS Traditional Ethical Theories Consequentialism Deontological ethics Moral Rights Ethics of care Virtue Ethics TOPICOVERVIEW NORMATIVE “How the world should be” Help us figure out what is right or wrong DECISION MAKING
- 5. PLANS, MOTIVATIONS, VIRTUES ACTIONS RESULTS CONSEQUENTIALISM THEORYNON- CONSEQUENTIALISM • A.k.a Teleological ethics (Greek: Telos: end, purpose, intention) approach in decision making wherein a person bases moral judgement on the outcomes of the action
- 6. You run a factory in a very poor country and a child comes to your door and asks for a job. Non- Consequentialism “It is wrong to employ children — children have human rights, and one of those rights is the right to play and to be educated, rather than to be toiling in factories or fields.” - Deontologist EVENT ACTION RESULT Consequentialism “ If turning the child away means that she would starve, or turn to something worse (like prostitution) then it would be ethically better to give her the job.” Give her a job. Unidentified
- 7. CONSEQUENTIALIST: “the morally right action is the one with the best overall consequences (for an individual or group)”
- 8. CONS OF CONSEQUENTIALISM • individuals must research the consequences of their acts before they can make an ethically sound choice • doing such research is often impracticable, and too costly • the time taken by such research leads to slow decision- making which may itself have bad consequences, and the bad consequences of delay may outweigh the good consequences of making a perfect decision
- 10. PSYCHOLOGICAL EGOISM • We DO act in our own self- interest ETHICAL EGOISM • We SHOULD act in our own self- interest ETHICAL EGOISM Ethical Egoism was founded from Psychological Egoism.
- 11. ETHICAL EGOISM Main proponent of Psychological Egoism Interprets some acts of altruism to be egoistic: “I was in pain to consider the miserable condition of the old man; and now my alms, giving him some relief, does also ease me.”
- 12. ETHICAL EGOISM The correct moral action is the one that meets the self interest of an individual. > SELF-INTEREST GREATER GOOD
- 13. ETHICAL EGOISM 2 grounds of ethical egoism: 1) Human person by nature is not purely egoistic 2) Ethical egoism tends to violate objective moral principles
- 14. ETHICAL EGOISM 1) Human person by nature is not purely egoistic PURE EGOISM EGOISM and ALTRUISM A child is drowning You save the child Reward & praise EVENT ACTION RESULT A child is drowning You save the child You feel at ease EVENT ACTION RESULT
- 15. ETHICAL EGOISM 2) Ethical egoism is not a viable theory Egoism tends to violate objective moral principles just to satisfy one’s interest. If business world is dominated by egoists, expect: Exploitation of workers Deception of consumers Violation of basic Human rights Environmental Abuse