ETHICAL THEORIES:-NORMATIVE THEORIES PART 1
• MEANING AND DEFINITION OF BUSINESS
ETHICS
•
THE TERM ETHICS HAS BEEN DERIVED FROM THE GREEK
WORD ETHOS WHICH MEANS CHARACTER
•
MORAL VALUES WHICH EXPLAINS US WHAT IS GOOD OR
WHAT IS BAD
•
FREDRICK AND LAWRANCE,” APPLICATION OF GENERAL
ETHICAL IDEAS TO BUSINESS.”
•
BUSINESS ETHICS PERTAIN TO THE STUDY OF
GOOD,EVIL,RIGHT AND WRONG AND JUST AND UNJUST ACTIONS OF BUSINESS.
• ETHICAL THEORIES
•
LAY DOWN THE MORAL PRINCIPLES THAT GUIDE IN
DECIDING WHETHER A PARTICULAR ACTIN,CONDUCT,BEHAVIOR OR JUDGMENT IS RIGHT OR
WRONG
•
THESE PRINCIPLES ARE GIVEN BY ETHICAL THEORIES
.
•
NEED FOR ETHICAL THEORIES REQUIRED:-
I.
INSUFFICIENCY OF GENERAL RULES
II.
DUE TO CONFLICTING OPINIONS OF PEOPLE
III.
IT GIVES SOLID JUSTIFICATION
IV.
DEALS WITH THE CHANGED CIRCUMSTANCES AND
ENVIRONMENT
V.
GIVES RATIONAL ANSWERS IN SELECTING THE RIGHT
ACTION OR BEHAVIOR
• THEORIES OF ETHICS
•
NORMATIVE:-
I.
TELEOLOGICAL ETHICAL THEORIES
II.
DEONTOLOGICAL THEORY
III.
OTHER
·
11 .DESCRIPTIVE
·
111.VIRTUE BASED THEORY
• NORMATIVE THEORIES
•
DEALS WITH CONTENT OF MORAL JUDGMENTS I.E
DETERMINING THE MORAL COURSE OF ACTION AND INCLUDES THE CRITERIA FOR WHAT IS
RIGHT OR WRONG.
•
TELEOLOGICAL THEORY:
I. EGOISM
II.
UTILITARIAN
III.
ALTRUISM
•
DEONTOLOGICAL THEORY
•
OTHER THEORY
I.
STOCKHOLDER THEORY
II.
STAKEHOLDER THEORY
III. SOCIAL CONTRACT THEORY
• CONSEQUENTIAL(TELEOLOGICAL THEORY)
•
DERIVED FROM THE GREEK WORD TELEOS WHICH MEANS
AND ENDS.
•
ARE CONCERNED WITH THE CONSEQUENCES OF ACTIONS
WHICH MEANS THE BASIC STANDARDS FOR OUR ACTIONS BEING MORALLY RIGHT OR WRONG
DEPENDS ON THE GOOD OR EVIL GENERATED
•
FEATURES:
A.
THEY GIVE PRIORITY TO WHAT IS GOOD OVER WHAT IS
RIGHT
B.
AN ACTION WHICH BRINGS HAPPINESS FOR THE LARGE
NUMBER OF PEOPLE
C.
RESULT DETERMINE THE RIGHTNESS OR WRONGNESS OF
ALL ACTIONS
•
TYPES OF TELEOLOGICAL ETHICAL THEORIES
Ø
ETHICAL EGOISM:AN ACTION IS GOOD IT PRODUCES OR IT IS LIKELY
TO PRODUCE RESULT THAT MAXIMIZES THE PERSON’S SELF INTEREST DEFINED BY HIM EVEN
AT THE EXPENSE OF OTHERS.
•
BASED ON THIS NOTION THAT IT IS ALWAYS MORAL TO
PROMOTE ONE’S OWN GOOD BUT AT TIME AVOIDING THE PERSONAL INTEREST COULD BE
MORAL ACTION TOO.
•
IT DIFFERS FROM PSYCHOLOGICAL EGOISM WHICH
CLAIMS THAT PEOPLE CAN ACT IN THEIR SELF INTEREST. ALSO DIFFER FROM RATIONAL
EGOISM THAT IT IS RATIONAL TO ACT IN ONE’S SELF INTEREST.
•
IT HOLDS THAT ACTIONS WHOSE CONSEQUENCES WILL
BENEFIT THE DOER CAN BE CONSIDERED ETHICAL IN THIS SENSE.
Ø THE UTILITARIAN APPROACH
•
IT ASSESSES AN ACTION N TERMS OF ITS
CONSEQUENCES OR OUTCOME FOR EXAMPLE THE NET BENEFITS AND COSTS TO ALL
STAKEHOLDERS ON AN INDIVIDUAL LEVEL.
•
A UTILITARIAN MAY ASK WHETHER IT IS MORAL TO
SPEND SO MUCH MONEY ON CAMPAIGN AD BY POLITICIAN. HE WILL EXAMINE HOW THE MONEY
IS SPENT,HOW IT BENEFITED THE PEOPLE AND IF THAT MONEY COULD HAVE BEEN SPENT
ON SOMETHING ELSE
•
ASSUMPTIONS OF THIS APPROACH:
- BENEFITS AND COST OF AN ACTION CAN BE MEASURED
- A RIGHT ACTION IS ONE WHICH CREATES MAXIMUM AMOUNT OF NET PLEASURE
- COMMON NUMERICAL SCALE TO MEASURE COST AND BENEFITS
- ALTERNATIVE ACTIONS,THEIR BENEFIT AND COST
• THE UTILITARIAN APPROACH
• TWO TYPES OF UTILITARIAN APPROACH:-
- ACT UTILITARIAN :-ONLY CONCERNED WITH ACHIEVING THE MAXIMUM GOOD
ACCORDING TO THIS THEORY,A PERSON’S RIGHT MAY
BE INFRINGED UPON IN ORDER TO BAENEFIT A GREATER SEGMENT OF POPULATION.
II.
RULE
UTILITARIAN :- AN ACTION IS RIGHT IF ONLY IF IT CONFORMS TO GENERALLY
ACCEPTED RULES AND PRODUCES THE GREATEST BALANCE OF PLEASURE OVER PAIN.
Ø ALTRUISM APPROACH
•
SELF LESS CONCERN FOR THE WELFARE OF OTHERS. IT
IS TRADITIONAL VIRTUE IN MANY CULTURE AND CORE ASPECT OF VARIOUS RELIGIOUS TRADITIONS.
IT IS OPPOSITE OF SELFISHNESS.
•
BASED ON ETHICAL DOCTRINE WHICH CLAIMS PEOPLE ARE NORMALLY OBLIGED TO BENEFIT OTHERS.
No comments:
Post a Comment