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Importance of ethics and moral standards in business
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Ethical theories are a way of finding solutions to ethical dilemmas using moral reasoning or moral character. The overall classification of ethical theories involves finding a resolution to ethical problems that are not necessarily answered by laws or principles already in place but that achieve justice and allow for individual rights. There are many different ethical theories and each takes a different approach as to the process in which they find a resolution. Ethical actions are those that increase prosperity, but ethics in business is not only focused on actions, it can also involve consequences of actions and a person’s own moral character. Utilitarianism can be described as an ethical theory that states if the consequences of an action …show more content…
This theory involves evaluating the individual making the decision rather than the actions or consequences themselves. Aristotle defined “virtue as a character trait that manifests itself in habitual actions.” (Boatright, 2012) This means that you are not considered virtuous because you did the right thing one time, you must be consistent. Virtue character traits include: compassion, courage, courtesy, etc. these traits not only allow for ethical decision making but they also provide happiness to the individual possessing the traits. When a person has virtue as a part of their character their actions will be moral and ethical without having to choose between what they want to do and what they should do – the decision would be the same. Their actions and feelings would coincide with the moral rationale of the virtue theory. Advantages of the virtue theory are instilling good moral character traits into individuals allowing for more ethical decision making based on personal character. Also, the virtue theory promotes happiness through good moral character which encourages people to make ethical business decisions but also ethical personal decisions – leading to a more fulfilling life. A disadvantage is virtue ethics is trying to determine a list of virtues that people should possess, each trait needs to be carefully …show more content…
This idea allows for justice to be measured by an equation, each person’s share of something must be justified by some relevant difference, making the equation equal. Each person should receive exactly what is proportional to what they put in. If you work an hour longer than someone then you should receive pay for one more hour. This is equal because you are being compensated exactly for the work you put in and the other person is not shorted in any way because they did not work that extra hour therefore should not receive the extra pay. This theory allows for impartiality when making a decision, it is not based on justice because of your moral character or consequence of your action it is based on equal justice for all based
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.
Ethical judgements limit the methods available in the production of knowledge in both the arts and the natural sciences. Discuss.
Philosophical Ethical Theories As we know, philosophers divide ethical theories into three major classes. They are Metaethics(descriptive), Conceptual(applied), and Normative(prescriptive). Metaethics basically takes the scientific approach to concocting where exactly our ethical principals and philosophies come from (Feiser, 2005). Descriptions and explanations of moral behaviors and beliefs are provided on the basis of facts studied by such specialists of anthropology, sociology and history (Beauchamp & Bowie, 2005).
Virtue theory is the best ethical theory because it emphasizes the morality of an individual in which their act is upon pure goodness and presents as a model to motivate others. Aristotle was a classical proponent of virtue theory who illustrates the development habitual acts out of moral goodness. Plato renders a brief list of cardinal virtues consisting of wisdom, temperance, courage, and justice. This ethical theory prominently contradicts and links to other theories that personifies the ideal being. However, virtue theorists differ from their own expression of these qualities yet it sets a tone that reflects on the desire to express kindness toward others.
The virtue ethics approach is a theory that suggests that people are judged via their character, not specific actions. An individual who has developed good character traits (virtues) is judged as a morally good person. An individual who has developed bad character traits (vices) is judged as a morally bad person. Most of us have a mixture or virtues and vices. There are many pros and cons linked to this approach. The pros include
Ethics is a branch of philosophy that deals with the moral principles and values that govern our behavior as human beings. It is important in the human experience that we are able to grasp the idea of our own ethical code in order to become the most sensible human beings. But in that process, can ethics be taught to us? Or later in a person’s life, can he or she teach ethics the way they learned it? It is a unique and challenging concept because it is difficult to attempt to answer that question objectively because everybody has his or her own sense of morality. And at the same time, another person could have a completely different set of morals. Depending on the state of the person’s life and how they have morally developed vary from one human
The code of ethics are a guide of principles designed to help professionals conduct business honestly and with integrity.1Most organization have codes of ethics that its members are required to follow and it lays out the rules and acceptable behavior of its the members of ethics and which actions are acceptable or not acceptable business practices. One industry where professional codes of ethics is important is health care. Most health care workers belong to an accredited organization of their profession, such American Medical Association (AMA), American College of Healthcare Executives (ACHE), and American Nurses Association. They may also be required to have additional certification and rules they must follow based on the laws of the individual
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.
Utilitarianism is a movement in ethics which began in the late eighteenth centaury and is primarily associated with the English philosopher Jeremy Bentham and was later adapted and fully developed by John Stuart Mill in the ninetieth century. . The theory states that we should try to achieve ‘the greatest good for the greatest number’. Utilitarianism is a teleological theory of ethics. Teleological theories of ethics look at the consequences to decide whether an action is right or wrong. Utilitarianism is defined as a doctrine that the useful is the good and that the determining consideration of right conduct should be the usefulness of it consequences: specifically: a theory that the aim of action should be the largest possible
The strong points of the theory is that it is morally acceptable for everyone. Many people will believe that what God says is true, and everyone follows the proper protocol to please God; a variety of people can come together and come to a general consensus on certain rules because it commanded by God. Many people believe that God is almighty, and everything he commands is for benevolence. It brings uniformity because everyone is expected to be held to certain principles and fulfill certain obligation; everyone has an example to follow by looking at the people around them. It brings people together because everyone has ...
Utilitarianism, the theory of ethics which judges actions in condition of the consequences. If the consequences are good, then the actions are also good. If the consequences are not good, then the actions are also judge as not being good. Goodness is in deflect judged in condition of the amount of happiness a behavior show. It could be argue that from a utilitarian peculiarity of inspection, the consequences of staying brisk may likely lead to the factor performing more Acts of the Apostles that increase the general happiness.
Every day we are confronted with questions of right and wrong. These questions can appear to be very simple (Is it always wrong to lie?), as well as very complicated (Is it ever right to go to war?). Ethics is the study of those questions and suggests various ways we might solve them. Here we will look at three traditional theories that have a long history and that provide a great deal of guidance in struggling with moral problems; we will also see that each theory has its own difficulties. Ethics can offer a great deal of insight into the issues of right and wrong; however, we will also discover that ethics generally won’t provide a simple solution on which everyone can agree (Mosser, 2013).
Virtue Ethics Virtue ethics is a theory used to make moral decisions. It does not rely on religion, society or culture; it only depends on the individuals themselves. The main philosopher of Virtue Ethics is Aristotle. The. His theory was originally introduced in ancient Greek.
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,