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The foundation of ethics and your role in ethics - Coggle Diagram
The foundation of ethics and your role in ethics
"Why we do what we do"
Theories
Utilitarianism
By John Stuart Mill
"Greatest happiness theory"
The ethical action is the one that causes the greatest happiness for all
An action is right if
it promotes the best consequences*
Drivers:
Consequence based
Disadvantages:
Ignores concerns of justice for minority
The virtue Theory
Ethical actions come from ethical people
An action is right if
it is what a virtuous agent would do in these circumstances
Drivers:
Character based
Disadvantages:
Depends on similar community standards for morality
By Aristotle
Deontological Theory
An action is right if
it is in accordance with moral law or principle
(rationality)
Drivers:
Duty-based
meaning the "action"
Categorical Imperative/Universalisation:
Action is ethical if everyone is able to act like this
Disadvantages:
it underestimates happiness
By Emmanuel Kant
Quick Test
3.) Is it consistent with the organisation's values?
If I make the decision Am I honouring what the organisation expects of me in terms of its values
4.) Is it fair to all?
Requires us to think about the other and have empathy
2.) How will it look in the newspaper?
Would I be happy if I read about my decision in the newspaper
5.) If I do it, will it feel good?
1.) Is it legal
If something is against the law or organisation policies, then chances are that it is unethical
Theories of modern Corporation
Hypothesis
Do corporations have moral responsibilities towards their owners or do they also have responsibilities towards the society they operate in?
Corporate Social Responsibility
Christopher Stone
Managers do no only have an obligation towards shareholders
Milton Friedman
Believed that decisions regarding social responsibility rest with shareholders and an entity is not obliged to any
social responsibility
unless Shareholders decide to such effort
Believed that shareholder satisfaction is an entity's greatest responsibility