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Applying Utilitarianism in Business - Essay Example

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The writer of the essay "Applying Utilitarianism in Business" suggests that utilitarianism is a good utility theory that many businesses should apply especially in ethical dilemma situations. This is because the system focuses on the greater good of the society and minimizing the greatest harm…
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Applying Utilitarianism in Business
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Download file to see previous pages Businesses have to apply this theory as its application is more realistic in ethical situations because the likelihood of doing actions that lead to greatest harm is more than that of greatest good and they lead to serious consequences. Businesses are required to use this policy in determining the most efficient way to release its negative externalities. Despite all the advantages in the application of utilitarianism in business, this theory has criticism that the businesses need to consider to facilitate their efficient application of the theory to maximize utility. Utilitarianism theory has difficulty distinguishing between different types and degrees of happiness. It is, therefore, the business duty to categories the types and degrees of pleasure in their application of this theory of utility. Categorization will solve the ethical dilemma in choosing between short-term happiness and long-term happiness. Businesses need to identify the degree of happiness that is preferable. Utilitarianism concept assumes that the pleasure is neutral between different types of people. Many criticize this assumption since the pleasure of a sadist cannot match that of the altruist. Businesses are required to evaluate the degree of happiness they inflict in the different types of stakeholders they associate within their application of utilitarianism since individuals respond differently to happiness. Businesses are required to consider the interests of the minority in their application of utilitarianism. ...Download file to see next pagesRead More
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