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Business Ethics in Today's Corporate World
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Recommended: Business Ethics in Today's Corporate World
“Masters, grant to your slaves justice and fairness, knowing that you too have a Master in heaven” Colossians 4:1 (Dake’s Annontated Reference Bible). Leaders should always treat their employees and fellow business leaders with respect and dignity and should never violate ethical codes of conduct. Christians have a Lord and Master in heaven and should never treat people unethically because our lord and master will judge us for this on Judgment Day. It is important that all people even non-Christians follow universal values, morals and ethical behavior in all business activities. This paper will talk about three different secular views of business ethics, why it is important to practice common standards in the business world.
Utilitarianism
Utilitarianism is a way of looking at ethical decisions without applying religious beliefs its founder was Bantham and Mil (Ruddell, 2004). Its method is to determine whether an act
It is the Christian way to treat people, as we want to be treated. Common standards are similar to this verse because everyone knows how he or she expects to be treated in business so they should treat others the same way. People have a clear understanding of what is right and wrong, what is acceptable, and what is not acceptable in the business world. Utilitarianism is a form of moral universalism where people understand the difference from right and wrong because they understand universal norms and local norms (Mele & Sanchez-Runde, 2013). People’s understanding of universal norms and local norms allow them to make ethical business decisions. Another example of common standards is common values. People use their common values when making business decisions because they have an understanding of what is important to themselves in the group that they are doing business
Alexander Hill, Just Business Christian Ethics for the Marketplace. Downers Grove, Ill: IVP Academic, 2008. Paperback. $14.95Jessica Burt
Utilitarianism is a moral theory that seeks to define right and wrong actions based solely on the consequences they produce. By utilitarian standards, an act is determined to be right if and only if it produces the greatest total amount of happiness for everyone. Happiness (or utility) is defined as the amount of pleasure less the amount of pain (Mill, 172). In order to act in accordance with utilitarianism, the agent must not only impartially attend to the pleasure of everyone, but they must also do so universally, meaning that everyone in the world is factored into the morality of the action.
“Utilitarianism is the creed which accepts as the foundations of morals utility of the greatest happiness principle holds that actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness.” (Mil, 90). Utilitarianism ethics is based on the greatest good for the greatest number meaning that the moral agent does what he/she thinks will be
While business enterprise is the activity of providing goods and services, many companies lose sight or do not want to implement the aspect of Godliness into their company’s mission. It’s a struggle and balancing act for many high level executives. The conflict is high profit with the risk of ignoring biblical principles or low profits but more peace of mind in knowing you and your company are doing the right thing. Some executives are able to achieve both; high profit with peace of mind and doing the right thing but not many.
Utilitarianism is the view of considering everyone’s benefit as equally important versus only considering my own. For any action, the morally correct thing to do is cause the greatest amount of happiness or pleasure or benefit for the greatest number possible; while at the same time causing the least amount of pain or unhappiness for the smallest number possible.
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Seawell, Buie 2010, ‘The Content and Practice of Business Ethics’, Good Business, pp. 2-18, viewed 22 October 2013, .
Utilitarianism is a moral theory that approaches moral questions of right and wrong by considering the actual consequences of a variety of possible actions. These consequences are generally those that either positively or negatively affect other living beings. If there are both good and bad actual consequences of a particular action, the moral individual must weigh the good against the bad and go with the action that will produce the most good for the most amount of people. If the individual finds that there are only bad consequences, then she must go with the behavior that causes the least amount of bad consequences to the least amount of people. There are many different methods for calculating the utility of each moral decision and coming up with the best
Utilitarianism is a theory aimed at defining one simple basis that can be applied when making any ethical decision. It is based on a human’s natural instinct to seek pleasure and avoid pain.
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu
Utilitarianism Summary and Opinion Utilitarianism is a school of thought that proposes that society should take the course of action that benefits the most people. Essentially, utilitarianism introduces the concept of hedonistic rationality as the basis for what justice should look like. This means that utilitarianism looks to maximize utility, which Jeremy Bentham describes as “whatever produces pleasure and happiness, and whatever prevents pain or suffering” (Sandel 34). Within the overall umbrella of utilitarianism, Justice introduces two subcategories: Jeremy Bentham’s utilitarianism, and John Stuart Mill’s utilitarianism.
Utilitarianism is one of the best known and influential moral theories. There are two different meanings to two words but at times, they can be the same perspective. Utilitarianism is different from ethical theories it makes the rightness and wrongness of an act dependent to a person. The right thing can be done from a bad motivation. There are consequences including good or bad by the act. It is between an action and their happiness or unhappy outcomes depending on the circumstances. There is no moral principle only itself of utilitarianism. It balances the individuality and community of happiness. The purpose of the morality is by making life better and increasing that amount of good deed. “Another aspect of utilitarianism is the belief that
Business ethics is part of today’s society whether you like it or not. There are many things happening in today’s corporate world that needs to be opinioned.
Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out
Utilitarianism is defined to be “the view that right actions are those that result in the most beneficial balance of good over bad consequences for everyone involved” (Vaughn 64). In other words, for a utilitarian,