Topic 4 Sustainable Org s2 2013 (1 Slide Per Page)

the best course of action has the best outcome for

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Unformatted text preview: the means to get there • ‘Ethical egoism’: seeking self-interest only • Consequentialist frameworks are typical in business settings Utilitarianism Utilitarianism seeks the greatest good (benefit) for the greatest number of people. - The best course of action has the best outcome for most Can Can apply to either individual acts or general rules How to define ‘good’? Universal Universal principles or duties Actions can be judged as right or wrong in themselves (regardless of consequences) Examples: – People should be treated as ends in themselves (with intrinsic worth), & never as instruments (or means to ends) – Treat people as you would like to be treated yourself (the ‘golden rule’) – All people have rights that should be considered Justice • General principles & specific rules relating to fairness, resource distribution • Types of justice – Procedural – Outcome / Distributive – Interactional Is this quote still relevant today? “The Business of Business is Business Business Business” (Milton Friedman, 1970) Ethical thinking is ultimately no more than considering oneself and one’s company as citizens of the business community and of the larger society, with some concern for the well-being of others and – the mirror image of this – respect for oneself and one’s character. Nothing in ethics Nothing excludes financially sound thinking, and there is nothing about ethics that requires sacrificing the bottom line. In both the long and the short run, ethical thinking is essential ethical to to strategic planning. There is nothing unethical about making money, but money is not the currency of ethical thinking in business Solomon 2004 p.44 Take Home Lessons • To successfully embed corporate responsibility and sustainability within organisations, there needs to be a focus on developing the mindset and skills of individual managers, rather than simply introducing new policies and procedures. • Once again managers play an important role in an organisation! And in the near future, what decision would you be making when confronted with an ethical dilemma in business? • Acknowledgement: We like to thank Dr. Tracy Wilcox and Dr...
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This note was uploaded on 04/08/2014 for the course MGMT 1001 taught by Professor Danielellason during the Two '09 term at University of New South Wales.

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