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Ethical Issues and Application of Ethics Theories - Case Study Example

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Summary to case study on topic "Ethical Issues and Application of Ethics Theories"
According to Mario Alexandrou, Stakeholders are m those people who are in some way or the other, getting affected by a business situation. They can end-users or clients, people who will draw out the requirements for a projects or who will have their say in the final decisions being made (2009)…
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Download file "Ethical Issues and Application of Ethics Theories" to see previous pages... Similarly, Carly also wants to show the work of young artists in his museum as it was a success in a museum in London. This will affect both Z museum and Carly as a successful show will increase the rating of the museum and will help them become a popular place. Similarly, Carly will also benefit by controlling a successful museum as his standing and worth will increase.
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The other stakeholder in the case is Jeremy Q. Jeremy Q is going donate a good sum of money to museum in an attempt to increase recognition in the corporate sector, which will give him chance to attract a corporate sponsorship for his collections. So, he may also be affected greatly by the success of the show. M's will also not remain unaffected by the show. They have been forced to become a stakeholder by the persuasion of Jeremy and Carly. Both have offered them to use their services in future if they sponsor the show. This means future financial gains for M's if show becomes a success. Similarly, young painters will get exposure and there may be a change that the success of their painting in the show may lead them to fame. These were some of the stakeholders and how ethical or operational issues impact these stakeholders.
According to Manuel Velasquez, Teleology theory states that what make an action good or wrong are the consequences of that action. For example, a "right action" always leads to right consequences and vice versa. In our case, all the stakeholders were working for their own benefits. For example, Jeremy wanted publicity and corporate sponsorship for his collections. Similarly M's wanted more business opportunities in the future and Carly wanted to enhance his reputation. In surge of their own benefits, all the stakeholders were working for the success of Z museum. However, according to Teleology theory, this self-interest is justified as long as the final target is achieved, that is the success of Z museum. However, if the Museum fails to put on a great show, the actions of these stakeholders would be classified as unethical or wrong actions, as suggested by this theory. Similarly, Manuel Velasquez defines Deontology theory as "it is not the consequences but the motivation behind these actions that determine the actions right or wrong". In our case everyone was lacking the real spirit and working for their self-interest or personal success (2009). Hence, their actions, according to deontology theory were wrong as they were not working for the success of the Museum, which was the main target, but instead everyone was seeking growth in his own personal stature. However, one cannot classify this behavior as truly negative behavior. According to Shaw, egoism theory sets the personal achievement and pleasure as the main goal for one's actions. The behavior of the stakeholders can be justified if their actions are viewed in the light of this theory. The director was working for his growth in reputation, Jeremy for his publicity, M's for future business. All of them were indirectly putting their efforts for the success of the show at the Museum. Their actions are justified by the egoism and Teleogical theories but, their actions cannot be considered as totally ethical under deontology (2005).
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