Ethical theories & business practices

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Transcript of Ethical theories & business practices

Page 1: Ethical theories & business practices

Asalam-u-alaikumm

Page 2: Ethical theories & business practices

Ethical theories.

1. egoism (already discussed)

2.utilitarian theories

3. Kantian theories

4.rights theories.

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Utilitarian theories.

Utilitarianism, also referred to as ethics of welfare.

Concerned with the behavioral school of ethics.

Two main pioneers of this theory are Jeremy Bentham (1748-1832) and john Stuart (1806-1873).

Mainly propounded by Bentham but worked upon and refined by john Stuart.

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Utilitarianism;

Assumptions(principles, features):

a. All human have only two motivators;

1. happiness,

2. pain.

b. Morality should be based upon the principle of maximizing happiness and minimizing pain, not only in the current situations but also in the long run.

c. Bentham viewed the interests of the community simply as a sum of the interests of its members.

d. Circumstances dictate what is right and what is wrong.

e. Cardinal measurement of benefits and costs.

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overview;

Utilitarianism has the advantage of being capable of explain why we hold that certain activities are generally wrong (lying ,adultery, killing, stealing) and why others are right (telling the truth, honesty, not breaking promises).

As per utilitarianism, Ethics is nothing but the art of directing the actions of men so as to bring about the greatest possible happiness to all (principle of efficiency).

Utilitarianism is the basis of the technique of cost-benefit analysis.

A decision is ethical only if it provides a greater net utility than any other decision possible from the same variables.

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Utilitarianism…..

Could and can justify anything at any point of time on the principle of “the majority rule.”

Drawbacks:

1. lack of clarity in definitions of benefits and cost.

2. it is difficult to measure utility and even impossible to measure certain other kinds of benefits and costs like measurement of health and life

3. all benefits aren’t tradable with one another.

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Kantian ethics

propounded by Emmanuel Kant (1729-1804) who is regarded as the most important ethicist in the rationalist school of modern ethical studies.

Kantian theory of ethics is based on the view that the only intrinsically good thing is a good will.

an action can only be good, therefore, if the principle behind it is in conformity with the “good will”

Kant stressed that an action must be only taken only for duty’s sake and not for some other reason.

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Kantian ethics….

Kantian theory stresses individual rights and acts as the basis of human rights.

It also stresses the need for the respect of others rights and choices.

As per the Kantian theory one should act in ways that one would wish others to act when faced with the same circumstances.

As per Kant morality can only be established on the basis of reason, and not blind faith.

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Difference between the two……

Utilitarian theory Kantian theory

1. Stresses overall decision making at a collective level.

1. Stresses decision making at the individual level.

2.Morality should be based on the principle of maximizing happiness and minimizing pain.

2. is based on the view that the only intrinsically good thing is a good will.

3.Basis of social development 3.Basis of personal development

4. Criticized for its cardinal roots and complex model of calculations of benefits and costs.

4. Criticized for its utopian view of society i.e. its view of how a person should always be selfless.

5. Has scope for accommodating situational changes.(times change, needs change, so does behavior).

5. One of the fundamentals of Kantian approach is that there should be no change in one’s behavior with any situational change.

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Difference (continued…)

Utilitarian theory Kantian theory

6. Consequences justify actions. 6. Consequences are no justifications for wrong actions.

C:\Users\DELL\Desktop\Utilitarian & Kantian Ethics.avi

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THANK YOU

(from everyone)

TO EVERYONE…