utilitarian approach to business ethics

As an ethical theory, it was supported by the works of John Stewart Mill and Jeremy Bentham. Business Ethics has in many ways made a move towards an Aristotelian approach. ‘Kantian ethics provides the best approach to business ethics.’ Discuss. These just didn't work, as there was no incentive to keep the rules, and lots of reasons to break them. When used in a sociopolitical construct, utilitarian ethics aims for the betterment of society as a whole. In this article, I suggest and support a utilitarian approach to business ethics. D. ensuring justified treatment of … 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. 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. Legal Administration Business Administration. In this article, I suggest and support a utilitarian approach to business ethics. So, utilitarianism provides a basis for criticizing business behaviours that cause harm to anyone at all. The utilitarian approach to business ethics. 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. By Claire Andre and Manuel Velasquez . B. the moral worth of actions or practices is determined by their consequences. Kantian ethics is deontological, meaning that the actions rather than the consequences matter in ethical decision making. d. 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. By Staff Writer Last Updated Mar 27, 2020 5:43:31 PM ET. A few different business ethics theories exist, such as the utilitarian, rights, justice, common good and virtue approach. • The utilitarian approach deals with consequences; it tries both to increase the good done and to reduce the harm done. A Kantian approach to business ethics The importance of purity of motive • Kant argued that the highest good was the good will. 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. In the past, there was a focus on rules within a business. Calculating Consequences: The Utilitarian Approach to Ethics. losing a job) are irrelevant as if an employer is acting unethically, the employee has a duty to report them. 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. For Kant the consequences of whistleblowing (e.g. C. people have dignity and need to be treated as such. b. the moral worth of actions or practices is determined by their consequences. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. 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 … What is the utilitarian approach to business ethics and examine its weaknesses? Upvote (1) Views (6366) Followers (2) Write an Answer A hard-core utilitarian would say that outcomes are all that matter. clients, colleagues, the community. The second theory, called deontology, will be addressed later. c. people have dignity and need to be treated as such. For Kant, the essence of morality is the goodwill, and, reason is at the centre of morality. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. Mait Juriado photo/Moment/Getty Images. The utilitarian philosophy for business ethics primarily focuses on: A. applying home-country standards of ethics in foreign countries. 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 … 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. Question added by Atallah Alenizi , Project Manager , Directive Date Posted: 2015/12/12. What Is the Utilitarian Approach? In this article, I suggest and support a utilitarian approach to business ethics. 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. 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 … 63. The Utilitarian Approach • The ethical action is the one that produces the greatest good and does the least harm for all stakeholders e.g. 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 . More generally, we are reviewing five theories that provide the ethical building blocks you can use in your classroom to debrief any ethical dilemma. D. human beings have fundamental rights and privileges that transcend national cultures. Last time, we talked about the Utilitarian Approach to ethical decision-making. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. Kantian Ethics/ Business Ethics. The first theory, utilitarianism, we will consider in this lecture. B. adopting the ethics of the culture in which a business operates. One approach maintains that we judge actions by their consequences and the other maintains that we judge actions by appeal to rules. Business & Finance Geography World View Science Pets & Animals Home / World View / Philosophy / Ethics / What Is the Utilitarian Approach? Business ethics is the code of principles and values that govern the decisions and actions within an organization. Thus, it is the intention behind an action rather than its consequences that make that action good. C. maximizing business profits by increasing employee productivity. To act from a good will is to act from duty. Of course, every dilemma can be dissected using more than one approach, and thus, the end result or decision may […] Utilitarianism is already widely used as a business ethic approach, although it is … Utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for all affected individuals. Utilitarianism is a philosophical approach that is very often applied to ethics. The idea of applying utility to ethics has its roots in 18th century philosophy. In applying utilitarian principles to business ethics, the cost-benefit analysis is most often used – it is a good decision making tool. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. 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). For Kant emotions/ consequences are not considered; For 18th Century Immanuel Kant duty is all important and must be done through good will. Business owners and managers can use an ethics theory they deem most appropriate for use in their operations. An employer is acting unethically, the employee has a duty to report.... In their operations stakeholders e.g from a good decision making tool and examine weaknesses! The consequences matter in ethical decision making to anyone at all first theory, utilitarianism, we talked the... We judge actions by appeal to rules will be addressed later is a philosophical approach that very... Good and does the least harm for all stakeholders e.g / philosophy / ethics / What is the goodwill and! 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