General ethics, business ethics and ethical theory Essay
General ethics, business ethics and ethical theory, 500 words essay example
Ethics is a branch of philosophy. Ethics is a normative science because it is concerned with the norms of human conduct. As a science it must follow some rigors of logical reasoning as other sciences. As a science, involve systemizing, defending, and recommending concept of right and wrong behavior. Business ethics is the application of general ethical ideas to business behavior. It is based on the principle of integrity and fairness and concentrates on the benefits to the stakeholders both internal and external. Stakeholder includes those individuals and group without which the organization does not have an existence. It includes shareholders, employees, customers, dealers, government and the society. According to Mario Draghi President of European Bank, he believe that ethics is important element should be followed by all the business people.
Teleological this describes an ethical theory which judges the rightness of an action in terms of an external goal or purpose. So, according to a teleological theory, consequences always play some part, be it small or large, in the determination of what one should or should not do. Not all teleological theories are consequentialist. John Rawls' theory of justice is teleological, but not consequentialist because it claims that consequences are only part of what must be considered when determining what policy is morally just. By far the most common teleological theories are egoism and utilitarianism. For example,
Immanuel Kant's (1778)" Critique of Practical Reason" has introduced deontological theory This type of theory claims that there are features within the actions themselves which determine whether or not they are right. Deontological ethics, in philosophy, ethical theories that place special emphasis on the relationship between duty and the morality of human actions. He claims that actions are only morally right when they are done out of duty. He sees moral duties as unchanging laws for human conduct. He believes that morality is derived from the ability to think rationally, which enables beings to be free. If one is not free, then one cannot be held responsible. Thus only free individuals are moral agents and all free individuals are capable of acting out of reason. Kant's moral theory is largely focused on protecting and promoting the free action of rational beings. Three formulations of his categorical imperative are derived from this moral foundation. For example,
Virtue Based Theories also known as ethical theory Virtue based theories focus on the character of the person. According to virtue based theories, ethics is about what sort of person one should strive to become. The qualities that one should develop in oneself are called virtues honesty, fairness, kindness, faithfulness, generosity, prudence, integrity, and bravely. For example, In order to get along with others at work, whether co-workers or members of management, you always treat people with respect, listen to their opinions and you accept others for whom they are. This makes you respected in return and a valuable part of your company. Being honest is important to you and you don't gossip about others behind their backs.