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. .
- 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.
- 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
- Classical utilitarians such as Bentham or Mill were very much in favor of freedom (autonomy and minimum state intervention
- Act Utilitarian- case-by-case individual assessment
- 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?
- Idealistic Theory- Universal Law is impractical and impossible
- Shopkeeper Analogy- Duty & treating people as 'ends' in themselves not 'means to an end'
- Globalization
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