People go into business to make money and once in business, the immediate imperative is to generate profits for the owners and the shareholders. Businesses at the same time assume some responsibilities towards the environment and the communities in which it operates to sustain its development…
Download file to see previous pages...
Since these are costly ethical activities that seem irrelevant to the business goal of maximizing owner value, many businesses choose to bluff and engage in some amount of deception and mask these little sins by justifying them with ethical theories that say such acts are ethical under the circumstances. This report examines these theories and perspectives on business ethics to determine if businesses can be forgiven for unethical behavior and, if so, at what point should one draw the demarcation line.
Business ethics has been the focus of passionate debates since the time of Plato and Socrates. The possible reason for the diverging views is that people always have different concepts and perceptions of what is good or bad, and what is right and wrong. Aronson (2001) believes the study of business ethics can help provide the standards for determining what behavior is good and bad or what is right and wrong. The literature on business ethics suggests ways to discuss the many different perspectives or theories by grouping them according to their similarities. The most frequently used perspectives fall under two groups of theory called deontology and teleology. Deontology is also described as formalism while teleology is utilitarianism, which means that the former is non-consequentialist while the latter is consequentialist (Christensen, 2005). In ethics, formalism is defined as a concept that views an act as right or wrong irrespective of the consequences, while utilitarianism holds that right conduct is determined by its usefulness in promoting the most good for the largest number of persons and thus keeps an eye on the consequences of the act. From these definitions, one can start forming an idea of which of deontology and teleology is the better ethical approach to business.
2.a. Teleology & Deontology
Teleology and deontology essentially uphold the same behavior that businesses should observe, which is business ethics. They differ only in their perspectives, means and desired results. Teleological theories focus on the "what" whereas the deontological view looks at the "how" of ethical behavior (Christensen, 2005). This means that in teleology, the outcome is more important than the intent, which is the reverse in deontology. Accordingly, teleology and deontology are traditionally seen as opposing viewpoints, with the former looking into the future to determine the best outcomes for everyone while the latter looking back in history to establish ethical guideposts from traditional culture and religion (Brady, 1985). Teleology is defined as the theory in which the only right-making properties are those that promote the good (Gaus, 2001). As for deontology, it is the perspective of doing what is morally right, regardless of the amount of good or evil that results from the act (Christensen,2005). Thus, teleology promotes what is good, while deontology promotes what is right (Gaus, 2001). For teleology, the more important thing is the outcome and less the behavior. It is the other way around for deontology.
2.b. Deontology at Work
Deontology is derived from the Greek words deon (duty) and logos
...Download file to see next pagesRead More
Cite this document
(“Business Ethics and social responsibility Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1504602-business-ethics-and-social-responsibility
(Business Ethics and Social Responsibility Essay)
“Business Ethics and Social Responsibility Essay”, n.d. https://studentshare.org/miscellaneous/1504602-business-ethics-and-social-responsibility.
6 children have been reportedly died due to consuming the milk while more than 800 were hospitalized due to the consumption of the milk. Society as a whole therefore not only bears the health costs of such activities of the firms but also withstands the social damage done by such unethical behavior.
7 Work Cited Page…………………………………………………………….. 8 Executive Summary The restaurant industry is one of largest employers in the United States. The industry generates billions of dollars in sales each year. It is important for the players in this industry to consider the importance of ethics and social responsibility.
the paper will include references to the moral philosophy or social issues that affect my approach to the development of this Code of Ethics. My Code of Ethics will contain the following components: statement of values, and why the principles are non-negotiable, the moral philosophy or social issues affecting my approach to ethics.
The expectations of the society regarding the social obligations of organisations are continuously changing mainly because of the influences by varied approaches to social, economic, cultural events and political aspects impacting the business environment; thereby transforming the social mentality, which puts the pressure on local or multinational corporations to carry their business in an ethical and socially responsible manner.
Business ethics have normative dimensions. This means that there are some norms in which these ethics must adhere to. Every organization has to follow some business conducts in order to create a friendly environment between the organization and its customers.
CSR, regardless of a company's primary objectives, is an important subject of debate in business ethics study since it is commonly believed that if a firm earns from the community, it must return the favor by giving back to the community. The idea makes sense and the argument can be backed by various ethical and moral theories.
itutional accords sanctioned by Congress, executive branch’s propagated constitutional regulations, and case law derived from the federal magistrates.
The federal law and the Constitution are the highest land law, thus preventing territorial laws and the conflicting state
All emergencies and accidents that occur due to the negligent attitude to safety are laid on the building owner, who is fully accountable for the factory’s collapse. The companies that buy from this factory should face consequences
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Business Ethics and social responsibility for FREE!