A few different business ethics theories exist, such as the utilitarian, rights, justice, common good and virtue approach. In business contexts, utilitarianism implies an obligation for businesses to do what they can to act in a way that maximizes happiness and minimizes suffering. D. ensuring justified treatment of … 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. Business ethics is the code of principles and values that govern the decisions and actions within an organization. One approach maintains that we judge actions by their consequences and the other maintains that we judge actions by appeal to rules. The utilitarian approach to business ethics. That is, the utilitarian approach seems to imply that it would be ethical to inflict pain on one person if that action results in a net increase in happiness. 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. As an ethical theory, it was supported by the works of John Stewart Mill and Jeremy Bentham. losing a job) are irrelevant as if an employer is acting unethically, the employee has a duty to report them. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. To act from a good will is to act from duty. 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. 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. Mait Juriado photo/Moment/Getty Images. By Staff Writer Last Updated Mar 27, 2020 5:43:31 PM ET. The first theory, utilitarianism, we will consider in this lecture. In this article, I suggest and support a utilitarian approach to business ethics. The idea of applying utility to ethics has its roots in 18th century philosophy. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. ‘Kantian ethics provides the best approach to business ethics.’ Discuss. Legal Administration Business Administration. What Is the Utilitarian Approach? For Kant, the essence of morality is the goodwill, and, reason is at the centre of morality. For Kant emotions/ consequences are not considered; For 18th Century Immanuel Kant duty is all important and must be done through good will. 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 . In applying utilitarian principles to business ethics, the cost-benefit analysis is most often used – it is a good decision making tool. More generally, we are reviewing five theories that provide the ethical building blocks you can use in your classroom to debrief any ethical dilemma. 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. 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 … A hard-core utilitarian would say that outcomes are all that matter. 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 … In the past, there was a focus on rules within a business. By Claire Andre and Manuel Velasquez . 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. Utilitarianism is a philosophical approach that is very often applied to ethics. Utilitarianism is already widely used as a business ethic approach, although it is … 63. c. people have dignity and need to be treated as such. C. maximizing business profits by increasing employee productivity. When used in a sociopolitical construct, utilitarian ethics aims for the betterment of society as a whole. For Kant the consequences of whistleblowing (e.g. Kantian Ethics/ Business Ethics. 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 … clients, colleagues, the community. In this article, I suggest and support a utilitarian approach to business ethics. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. Question added by Atallah Alenizi , Project Manager , Directive Date Posted: 2015/12/12. Of course, every dilemma can be dissected using more than one approach, and thus, the end result or decision may […] A Kantian approach to business ethics The importance of purity of motive • Kant argued that the highest good was the good will. Kantian ethics is deontological, meaning that the actions rather than the consequences matter in ethical decision making. B. the moral worth of actions or practices is determined by their consequences. Business owners and managers can use an ethics theory they deem most appropriate for use in their operations. In this article, I suggest and support a utilitarian approach to business ethics. The Utilitarian Approach • The ethical action is the one that produces the greatest good and does the least harm for all stakeholders e.g. The utilitarian philosophy for business ethics primarily focuses on: A. applying home-country standards of ethics in foreign countries. Last time, we talked about the Utilitarian Approach to ethical decision-making. What is the utilitarian approach to business ethics and examine its weaknesses? The second theory, called deontology, will be addressed later. B. adopting the ethics of the culture in which a business operates. Business & Finance Geography World View Science Pets & Animals Home / World View / Philosophy / Ethics / What Is the Utilitarian Approach? 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. d. 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). D. human beings have fundamental rights and privileges that transcend national cultures. Business Ethics has in many ways made a move towards an Aristotelian approach. 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. Thus, it is the intention behind an action rather than its consequences that make that action good. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. b. the moral worth of actions or practices is determined by their consequences. C. people have dignity and need to be treated as such. 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