Business Ethics Outline

Business Ethics Outline - Chapter 1 Ethics in the World of...

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Chapter 1: Ethics in the World of Business Business Decision Making o Two Distinguishing Features of Business Economic Character Takes place in organizations o Levels of Decision Making Individual Organization Business Systems o The Moral Point of View 1 of 3 P.O.Vs other two legal and economic 2 Features of the Moral POV Willingness to seek out and act on reasons Impartiality o Regard the interests of everyone equally o An Integrated Approach A business decision should be ethically defensible while at the same time satisfying the legal demands of economic performance and the company’s legal obligations Case 1.2 The Ethics of Hardball Ethics, Economics, and Law o The Relationship of Ethics and Economics Justification of the Market System Some Conditions for Free Markets o The Relation of Ethics and Law Two Schools of Thought Why the Law Is Not Enough Ethics and Management o Ethical Management and the Management of Ethics o Ethics and the Role of Managers Business Ethics and Ethical Theory Case 1.3 A Sticky Situation Case 1.4 Argus Incorporated: A Leasing Triangle Chapter 2:Welfare, Rights and Justice Case 2.1 Beech-Nut’s Bogus Apple Juice Utilitarianism o Two Types of Ethical Theory Teleological Utilitarian
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Rightness of actions determined by the amount of good consequences Whatever makes humans generally better of or provides some benefit is good Deontological Kant Denies consequences are relevant We have a duty to perform certain acts because of the nature of these actions or the rules they follow o The Principle of Utility Jeremy Bentham Principle requires that consequences be measured so that pleasure and pain can be added together and the results of different courses of action compared Assumes precise measurement of pleasure and pain is possible Hedonistic calculus Objections to Bentham’s Principle o Pleasure is not the only good o “pig philosophy” o Mill’s Version Attempted to develop a more defensible version Departed from quantitative treatment of pleasure o Pleasures also differ in quality Says humans enjoy higher pleasures thanpigs o The Forms of Utilitarianism Classical Utilitarianism An action is right if and only if it produces the greates balance of pleasure over pain for everyone Four theses of Ut. Consequentialism o Rightness determined by consequences Hedonism o Pleasure is the ultimate good Maximalism o Right action produces the greatest amount of good Universalism o Consequences that are considered are for everyone o Act- and Rule-Utilitarianism AU An action is right if and only if it produces the greatest balance of pleasure over pain for everyone RU
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An action is right if and only if it conforms to a set of rules the general acceptance of which would produce the greatest
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This note was uploaded on 05/07/2008 for the course AE 291 taught by Professor Hanafey during the Fall '07 term at Fairfield.

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Business Ethics Outline - Chapter 1 Ethics in the World of...

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