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Final Exam Prep

In: Business and Management

Submitted By joshjoshjosh
Words 2581
Pages 11
Moral Philosophies

Consequentialist theories.
The morality (right vs wrong) of an action is judged entirely by its on consequences.
Right and wrong are determined by the outcome of an action. “The end justifies the means”

Non consequentialist theories
Based on inputs and intentions
Actions are intrinsically good or bad by themselves. The right or wrong of these actions is not determined by their consequences.

Actions are judged by how much they benefit the majority.
The greatest good for the greatest number of people.
It is ethical to make the minority unhappy or suffer to create the greatest good
The various ways of defining the greatest good should be taken into consideration.
Promulgated by John Stuart Mill and Jeremy Bentham
Act Utilitarianism
Every act has an individual moral obligation.
Rule Utilitarianism
Apply utilitarianism to a set of rules that will benefit the majority.

Kantian Ethics
Intention based
The categorical Imperative contains three maxims.
Universality: You should only do something if you think it would be ok if everyone did it all the time. E.g. cheating in business, if everyone did it the economy would collapse.
Every human should be treated as an end not a means to an end: So you can’t manipulate people to achieve an end. Contrasts to consequentialism which is based on ‘the greater good’.
Means you cannot lie, (example about com101 being fav class)
Act as if you were the moral authority of the universe: If any action that you undertake, repeated across the universe would create negative effects it is deemed unethical and you should not do it.

WB: Corporate governance codes require people to whistleblow on breaches of the codes.
E.g. Enron:
Required by corporate governance to report unethical business actions.

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