518-2 Ethics and CSR outline-Bohlman

518-2 Ethics and CSR outline-Bohlman - CHAPTER TWO ETHICS...

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CHAPTER TWO ETHICS AND BUSINESS DECISION-MAKING Introduction An emphasis on short-term profits may create the temptation to act unethically Theories of Ethical Conduct Ethics are systematic statements of right and wrong behavior based on a philosophical system. Morals reflect values about right and wrong. Ethics is a set standard for determining right and wrong by making reflective choices and by directing the selected choice of action toward good. Should the action be taken based on social good? Business ethics is not a separate theory of ethics Certain professionals may have a higher ethical standard set for them Ethical Standards Based on Universal Duties Deontology An absolute set of standards to measure ethical behavior Immanuel Kant Telling the truth is a universal rule John Rawls Imposes Universal duties There are no exceptions Those who believe that killing another is wrong must oppose capital punishment, war, and killing in self-defense (abortion?) In deontology, a person who fulfills an absolute moral duty embodies the concept of good, and the outcome of following that moral duty – whether good or bad – is inconsequential The concept of good does not include the results Ethical Standards Based on Consequences Utilitarianism Ethical standards based on the consequences of an action Evaluates everything on the basis of utility or benefit
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Jeremy Bentham and John Stuart Mill The greatest happiness for the greatest number Misinterpreted to suggest that if the majority wants something, the act is ethical; rather, the act is judged to be good or bad by the consequences produced in terms of social benefit or utility The Exclusionary Rule Problems: Prediction of the success, failure or utility of certain behaviors is impossible The accumulation of wealth, not how it was
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518-2 Ethics and CSR outline-Bohlman - CHAPTER TWO ETHICS...

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