Business Ethics
- Created by: Sosun11
- Created on: 02-06-17 11:22
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- Business Ethics
- Tonduer
- We should live more ethical lives as consumers
- Utilitarianism
- Preferance
- Everyone's preference's are equally valued and must be taken into account when a business makes a decision
- How does a utilitarian decide what is more import the long term protection of the environment
- Or the maintaining jobs for the people
- Act
- The hedonic calculus aims for the greatest good for the greatest number
- Protect the rights if stakeholders as their happiness is as equally important as one anothers
- Rule
- Harm principle - businesses can do as they want as long as no one is harmed
- Better to be a human dissatisfied than a pig satisfied
- Follow the general rules within a society
- Preferance
- Solomon
- Businesses that aim for virtuous behaviour will be more succesfull
- Shareholders
- Someone who owns shares in a company
- Ted Synder
- Profit is more important than principle
- Globalisation
- The growth of the worldwide economy and trade
- Supposedly beneficial to LEDC and MEDC
- Leads to exploitation - UN trying to make globalisation just and fair
- Micro Ethics
- The small issues that contribute to ethical standards
- Intentions, obligations and promises
- Stakeholders
- Someone who has a vested interest in a company whether they be staff or a customer
- Marx
- 'The only power employees have is to withdraw labour'
- The employer controls the market so can find anyone to replace the labour
- bourgeoisie
- The only bargaining chip the labour has is their skill
- proletariat
- Rawls
- Social justice contract between employers and employees
- Kantian
- Don't use others as a means to an end .e.g. For profit
- Businesses need universal laws in order to function ethically
- Whistle blowers?
- If all stakeholders are intrinsically valued when business practice be more ethical
- Virtue Ethics
- Aristotle suggested that businesses cannot be separated from society
- Would the motivation for an action or decision lead to Eudaimonia
- A good business is run by a previous business setting a good example
- Golden mean avoid vices of excess and deficiency
- Friedman
- Profit is more important than ethics
- Adam Smith
- Free market competiton
- Religious approach
- The love of money is the root of all evil - Timothy (Bible)
- The parable of the lost son - Money doesn't = happiness
- The golden rule - treat others how you wish to be treated
- Modern protestant Weber - Reward in money is a result of self salvation
- Tonduer
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