Business Ethics Ezra

  • Created by: Ezra2602
  • Created on: 24-03-21 12:09
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  • Business Ethics
    • Globalization
      • Refers to the integration of economies, trading and political movements around the world. On a simpler understanding, we may say 'the world is getting smaller'.
    • Good Ethics is Good Business
      • Capitalism would suggest so- Adam Smith
      • For Immanuel Kant, good ethics matters more than good business.
      • Milton Freidman good ethics can result in bad business so long as a business is within the confines of/adheres to legislation.
    • Whistle-Blowing
      • Refers to any situation where an employee, or in some cases other stakeholders, raises concerns of an ethical or legal nature about how a organization is behaving
    • Corporate Social Responsibility
      • A key debate that businesses are not just there to make money/profit but also have wider ethical responsibilities to all stakeholders and their wider community.
        • Stakeholder theory: is a view of capitalism that stresses the interconnected relationships between a business and its customers, suppliers, employees, investors, communities and others who have a stake in the organization. .
    • Utilitarianism
      • Act Utilitarian- case-by-case individual assessment
        • Rule Utilitarian- universal moral principles for all parties involved (E.g. the long-term benefits of minimum wage or holiday entitlement
      • Flexible theory with a significant amount of freedom
        • Classical utilitarians such as Bentham or Mill were very much in favor of freedom (autonomy and minimum state intervention
          • Thus, businesses must have full, unimpeded control over their establishment.
          • Impossible to objectively weigh up 'pleasure' especially on a global scale
    • Kantian Ethics
      • Shopkeeper Analogy- Duty & treating people as 'ends' in themselves not 'means to an end'
        • Idealistic Theory- Universal Law is impractical and impossible
          • Idea of conflicting Kantian Duties- Can we apply 'Prima Facie' here or is it laborious to do so?


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