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“Morality is simply the attitude we adopt towards people whom we personally dislike.”~ Oscar Wilde on morality
Morality and Law
Philosopher James Rachels suggest two criteria- Reason & Impartiality.
William Shaw-1. An action can be illegal,
but morally right.2. An action that is legal can
be morally wrong.
How are moral Standards Formed ?
Religion and Morality
Morality, Etiquette and Professional Codes
Management and Ethics
Moral Standards Vs Standards
Characteristics that distinguish
Moral standards with
Standards
Associated with special emotions & Vocabulary
Deal with matters that we think can seriously injure or benefit human beings
Moral standards are not established or changed by the decisions of particular
authoritative bodies
Moral standards to be preferred to other values including self interest
Moral standards are based on impartial considerations
Normative TheoriesNormative Theories
Non-Consequentialist( Deontological-Duty Based)
Consequentialist
Egoism Utilitarianism Kantian Theories
Egoism The view that associates morality with self-interest is
referred to as egoism. Psychological Egoism: To derive their basic moral principle
from the alleged fact that humans are by nature selfish Criticism of the Theory of Psychological Egoism:1. Egoism as an ethical theory is not really a moral theory at
all.2. Psychological egoism is not a sound theory in as much it
assumes that all actions of men are motivated by self interest.
3. Ethical egoism ignores blatant wrongdoings.
Utilitarianism: Ethics of Welfare
Classical Utilitarianism & Traditional Utilitarianism The creators of Traditional Utilitarianism were
Jeremy Bentham(1748-1832) and John Stuart Mill(1806-1873)
Bentham’s principle can be stated as- “ The seeking of pleasure and avoidance of pain, ,that is , happiness, is the only right and universally desirable end of human action.
Jeremy Bentham’s Version of Utilitariasm
An action is right from an ethical point of view if and only if the sum total of utilities produced by that act is greater than the sum total of utilities produced by any other act the agent could have performed in its place.
sum up all the values of all the pleasures. Sum up all pains find the balance
John Stuart Mill’s Version of Utilitarianism
John Stuart Mill’s version
of Utilitarianism
The creed which accepts as the foundation of morals, utility or the greatest happiness principle, holds that actions are right in
proportion as they tend to promote happiness, wrong as they tend to produce the reverse of
happiness
It is better to be a human being dissatisfied than a pig satisfied.
It is better to be Socrates dissatisfied than a fool satisfied. And if the fool or the pig are of a different opinion, it is because they know
only, their side of the question.
is
Utilitarianism Principle
It is stated as, “An action is right if and only if it produces the greatest balance of pleasure over pain for everyone.”
UtilitarianPrincipleInvolves
Consequentialism
Hedonism
Universalism
Maximalism
Classical Utilitarianism
Classical Utilitarianism
Needs todetermine
The amount of utility( balance of pleasure and pain for each individual affected by an action)
The amount of utility for a whole society
Two versions of Utilitarianism
Two versionsOf
Utilitarianism
Act Utilitarianism(AU): An action is right if and only if it produces the greatest balance of pleasure over pain for every one; simple theory and provides an
easily understandable decision procedure
Rule-Utilitarianism (RU): An action is right if and only if it conforms to a set of rules, the general
acceptance of which would produce the greatest balance of pleasure over pain for every one; gives finer grouped to the rules of morality and to roles obligations, which are problems of all teleological
theories.
Business Survival
BusinessSurvival
A . States legal regulations
B. Society’sMoral values
To complywith
Is not just to
Make profit but,
Business Prosperity
BusinessProsperity
Equity and responsibility in dealings with –employees,
customers, suppliers
Community involvement
Environmental Concern
Openness
Integrity and responsiveness to criticism
And complaint
Include
Points like
Kantianism: Ethics of DutyImmanuel kant (1724-1804): The most important ethician in the rationalistic school in
modern times. Good willThe notion of Good Will is the concept of Duty The imperatives of morality are not hypothetical but
categorical.The moral duty that binds us is unconditional.The core idea of his categorical imperative is that an action
is right if and only if we can will it to become a universal law of conduct.
Organizational Importance of Kantian Philosophy
In the ethical theories of egoism and moral utilitarianism humans are considered means to achieve the ends.
Kant gives more importance to individuals. an action has moral worth only when it is done from a
sense of duty. Reason is the final authority for morality. Blind beliefs or rituals cannot be the foundations of
morality.Two formulations of Kant:1. To act only in ways that would one would wish others to
act when faced with the same circumstances.2. Always treat other people with dignity and respect.
Theories of Business Ethics
Normative Theories of Business Ethics
Social Contract Theory
Stakeholder Theory
Stockholder Theory
Stakeholders of a Firm
Primary Secondary
Media Consumers Government Judiciary Competitors General Public/Society Political groups Activist groups Trade Unions Customer Advocacy Groups Trade Associations Financial Community Local Community Environment
Stockholders Employees Suppliers Creditors Customers
Survival of the firm depends on Those who affect or are affected by the Firm