Common Ethical Approaches

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Introduction
Ethics refers to the standards for human behavior which are being accepted by society. It can be said in order to be ethical the human beings behave as per standards. Ethical decision making refers to the process of making decisions in which the most ethical alternative is being selected. There are various approaches in determining the ethical standards. Various approaches for determining ethical are: - Common moral benefits, Virtues based, Rights, Justice, Theological, Utilitarian, Deontological etc(Larry, Chobanian, & Wong, 2001). This paper provides the detailed analysis of Rights, virtue, feminist, and common morality theories, and their impact on ethical decision.

Comparison & Contrast of Rights, virtue, feminist and common …show more content…

Business ethics are part of ethics and are essentially the applied ethics. Business ethics are the practical in nature and are derived from various approaches of ethics. These four approaches have strong influence of business ethics. Like the rights approach in business ethics means behaving so as to protect the moral rights of the people involved such as employees and customers. Virtues approach in business ethics aims at operating in a virtues manner i.e. the businesses should obey laws, respect its customer, and be responsible towards its all stakeholders (Wolf & Theodora, 2015). Feminist approach motivates businesses to be equal opportunity employer and to recognize the rights of females (Sterba, 2000). The common morality theory is reflected in the corporate social initiatives being followed by companies these days. As the businesses operate in society and derive its resources from society itself, hence the businesses should behave ethically for the common good of the …show more content…

As due to globalizations and the growth of internet, the world has become smaller. Any news good or bad spreads immediately. Hence the business needs to be very cautious about their actions. They need to behave ethically for the common good for the society. The companies which ignore the common good have to pay a big price for same such as in case of Nestle. Nestle has lost huge business due to manufacturing and selling unhealthy food products in developing nations. The businesses operate in society and derive all resources from society; hence morally they are responsible towards society. Any company which impacts society in negatively has to bear the strong negative response from the

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