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utilitarian approach to business ethics

The idea of applying utility to ethics has its roots in 18th century philosophy. Of course, every dilemma can be dissected using more than one approach, and thus, the end result or decision may […] In this article, I suggest and support a utilitarian approach to business ethics. In the past, there was a focus on rules within a business. Companies will attempt to work out how much something is going to cost them before taking action that should, ideally, result in consequences favourable to everyone. Question added by Atallah Alenizi , Project Manager , Directive Date Posted: 2015/12/12. More generally, we are reviewing five theories that provide the ethical building blocks you can use in your classroom to debrief any ethical dilemma. • The utilitarian approach deals with consequences; it tries both to increase the good done and to reduce the harm done. ‘Kantian ethics provides the best approach to business ethics.’ Discuss. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. One approach maintains that we judge actions by their consequences and the other maintains that we judge actions by appeal to rules. B. adopting the ethics of the culture in which a business operates. The utilitarian approach to business ethics suggests that: a. people should be treated as ends and never purely as means to the ends of others. What is the utilitarian approach to business ethics and examine its weaknesses? BUSINESS ETHICS :: Utilitarianism • Introduction • Jeremy Bentham • Theory of Utility • Types of Utilitarianism • Some Criticisms • Moral Dilemma Introduction Over the course of the next two lectures we will be looking at two of the most politically and philosophically significant … Utilitarianism (Consequence-based Ethics) 2 years ago • Ethical Theories and Frameworks • 0 One of the most influential ethical frameworks , utilitarianism is focused on consequences and results; the sole basis of morality is determined by its usefulness or utility . Utilitarianism in business can lead to a bottom-line mentality in which decisions are based on achieving the greatest good for the organization as it pertains to the greatest number of stakeholders, including shareholders and all others affected by the actions of the organization The outcome is the determining factor, not the intent of the actors or whether people are treated humanely. Business Ethics has in many ways made a move towards an Aristotelian approach. C. people have dignity and need to be treated as such. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. By Claire Andre and Manuel Velasquez . D. human beings have fundamental rights and privileges that transcend national cultures. c. people have dignity and need to be treated as such. D. ensuring justified treatment of … These just didn't work, as there was no incentive to keep the rules, and lots of reasons to break them. Utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for all affected individuals. Business owners and managers can use an ethics theory they deem most appropriate for use in their operations. Utilitarianism is a philosophical approach that is very often applied to ethics. In this article, I suggest and support a utilitarian approach to business ethics. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. Upvote (1) Views (6366) Followers (2) Write an Answer d. When Oliver North was asked to explain why he lied to congressional committees about his role in the Iran-Contra affair, he replied, "Lying does not come easily to me. Mait Juriado photo/Moment/Getty Images. Although different varieties of utilitarianism admit different characterizations, the basic idea behind all of them is to in some sense maximize utility, which is often defined in terms of well-being or related concepts. Last time, we talked about the Utilitarian Approach to ethical decision-making. The second theory, called deontology, will be addressed later. Legal Administration Business Administration. Calculating Consequences: The Utilitarian Approach to Ethics. By Staff Writer Last Updated Mar 27, 2020 5:43:31 PM ET. Business ethics theories include the moral principles or codes a company implements to ensure that all individuals working in the company act with acceptable behavior. Kantian Ethics/ Business Ethics. losing a job) are irrelevant as if an employer is acting unethically, the employee has a duty to report them. For Kant, the essence of morality is the goodwill, and, reason is at the centre of morality. B. the moral worth of actions or practices is determined by their consequences. clients, colleagues, the community. So, utilitarianism provides a basis for criticizing business behaviours that cause harm to anyone at all. As a part of general and practical ethics, business ethics focuses on moral or ethical principles and issues that occur in the business environment, providing judgments as … The utilitarian approach to business ethics. The utilitarian approach to business ethics suggests that: A. people should be treated as ends and never purely as means to the ends of others. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. The Utilitarian Approach • The ethical action is the one that produces the greatest good and does the least harm for all stakeholders e.g. 63. Business & Finance Geography World View Science Pets & Animals Home / World View / Philosophy / Ethics / What Is the Utilitarian Approach? In applying utilitarian principles to business ethics, the cost-benefit analysis is most often used – it is a good decision making tool. The first theory, utilitarianism, we will consider in this lecture. As an ethical theory, it was supported by the works of John Stewart Mill and Jeremy Bentham. A Kantian approach to business ethics The importance of purity of motive • Kant argued that the highest good was the good will. Utilitarianism, in normative ethics, a tradition stemming from the late 18th- and 19th-century English philosophers and economists Jeremy Bentham and John Stuart Mill according to which an action is right if it tends to promote happiness and wrong if it … To act from a good will is to act from duty. For Kant the consequences of whistleblowing (e.g. Generally speaking, utilitarian philosophy teaches that the consequences of actions are always of great importance and that justice and beneficence should be the guiding principles while making decisions (Hales 1608). Utilitarianism is already widely used as a business ethic approach, although it is … Business ethics is the code of principles and values that govern the decisions and actions within an organization. When used in a sociopolitical construct, utilitarian ethics aims for the betterment of society as a whole. 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