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MGT353 - Chapter 04

Virtues values and character are critical determining

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Unformatted text preview: costs of a decision, policy or action Costs and benefits can be economic, social or human 3. Rights Person or group is entitled to something or to be treated in a certain way Examples of basic human rights are right to life, safety, and due process 4. Justice Means benefits and burdens are distributed equally, according to some accepted rule 4-19 Figure 4.5 Four Methods of Ethical Reasoning 4-20 10 2/16/2014 Applying Ethical Reasoning to Business Activities Can use the virtues, utility, rights, and justice framework as a tool to analyze real business ethics dilemmas Once the ethical analysis is complete, the decision maker should ask the question: Do all of the above ethics approaches lead to the same decision? If all the answers are “Yes”, the proposed action is ethical If all the answers are “No”, the action is not ethical and needs to be reconsidered If “Yes” and “No” answers are mixed, you must decide which takes priority 4-21 11...
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