1. What does the term ethics mean to you? Do you see a difference between ethics and morality? Explain your answer.
When it comes to ethics in business, many companies are famous for their downfall due to poor ethics. A recent example of this is Enron and the accounting fraud that took place. The term ethics can have multiple meanings, and can often be thought of as morality.
To me, the definition of ethics is the ability to judge what is right or wrong concerning human behavior. Human behavior includes individuals, and also groups of people or organizations. As described in the textbook, the term ethics and morals can be used interchangeably. However, the definition of morality at least to me, is culturally acceptable practices that have been passed down through the generations. Being that scholars are using the two terms interchangeably as time passes, it is completely understandable as to why this is happening, as the two definitions are very similar in character. Ethics being the judgment of right and wrong versus a passed down culturally acceptable practice is how the two definitions are different. Because of this reason, I feel that the two are not exactly the same and should not be used interchangeably. There are five approaches to ethics and how they are viewed in the world. The first of these approaches is Utilitarianism. This approach is based upon the basis that something should be done with the greatest good for the greatest number of people. Kant’s Categorical Imperative is the next approach to ethics. In this approach, Kant thought that people should do what’s right no matter what the consequences are. The third approach is Rawls’ Justice as Fairness. With this approach, Rawls thought the best ethical approach would be the balance of freedom and equality. In this approach, individuals have rights that should never be violated no matter the outcome.