business ethics a books review

7/27/2019 Business Ethics a Books Review

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The Law of Business must consider ethicsand morality.

Ethics: guiding philosophy of a group,societal values concerning right and wrong.

Morals: principles of right and wrongmeasured by an individuals conscience.

Ethics vary from society to society where asindividual morals remain fairly constant.

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BUSINESSETHICS

ETHICS MORAL

LAW OFBUSINESS

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ETHICAL THEORIES

CONSEQUENTIAL

EGOISM

UTILITIARISM

FEMINISM

NON-CONSEQUENTIAL

PRINCIPLES

RAWLS, VEIL OFIGNORANCE

KANT, CATEGORIAL

IMPERATIVE

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Consequential and Non-consequentialPrinciples.

Consequential: evaluate action byexamining the consequences produced bythe action.

Non-consequential: focus of the concept of

duty rather than what is right or wrong.

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Consequential Ethics. Egoism: rightness determined by consequences

the act produces for person performing theaction. Holds one will act in a manner which

produces greatest balance of good over bad foroneself.

Utilitarianism: rightness determined byconsequences the act produces for ones group.Holds one should act in such a manner which will,over time, produce most good over bad for ones

group. Feminism: emphasizes attention be paid to the

effect of decisions on individuals. Focuses oncharacter traits.

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Non-Consequential Ethical Theories.

Kant and the Categorical Imperative: suggestscertain universal moral truths every person mustfollow in order to act morally and ethically.Imperative that one follow certain perfect truths.

Rawls and the Veil of Ignorance: theorysuggesting that rules of ethical behavior be

created by persons who ignore their owncharacteristics and circumstances includinggender, race, ethnicity, and/or religion.

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Other Theories:

Relativism: states that two people or two

societies may hold opposed ethical views toone another, and yet both may be correct.

The Golden Rule: advises each person todo onto others as you would have others

do onto you.

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Individual and business factors toconsider when charting an ethical

protocol: Short and long term impact on of the

decision on society and the organization. Who will be affected and to what degree

by the decision. Whether the decision and subsequent

ethical protocol is compatible with thelaw.

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Factors considered when making a

decision: The obligations that arise from

organizational relationships.

The ideals involved in any decisions that

are made.

The effects or consequences ofalternative actions.

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Business is an Amoral Institution: originallyheld business to be amoral meaning

they could not act morally or immorallyas they were not natural persons.

The Game Theory: operating abusiness is like playing a game. Nolonger practical as government nowestablish the rules (legal regulations) forbusiness.

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Holds that businesses owe duties tosociety as society allows business to exist.Social Contract Theory considers: The Changing Social Environment.

Problems with Business Ethics: no fixedguidelines to follow and no formal code ofethics that a business should follow.

The Human Factor.

The Legal Aspect.

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Holds that businesses owe duties tosociety as society allows business to exist.Social Contract Theory considers: The Changing Social Environment.

Problems with Business Ethics: no fixedguidelines to follow and no formal code ofethics that a business should follow.

The Human Factor.

The Legal Aspect.

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Global Competition and MarketingOpportunities.

Demand business consider social values inother countries where firms do business.

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Create framework for business ethics: Adopt synthesis approach to resolve ethical

issues. Consider public image and consequences of

actions.

Adapt ethical standards as rapid change isconstant in business.

Work with government rather than against

Will not be easy but alternative is increasedregulation and public mistrust.

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business ethics a books review

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