EIB20103

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EIB20103

Main topic

Ethical Theories

3 Moral Theories

The Utilitarian Theory of Mill *morality action should be judge by the consequences, nit by action.

The Deontological Theory of Kant *actions are judge right or wrong can be determined by reason, and an individual has a duty to act in accordance with the principles (action)

The Virtue Theory of Aristotle * moral is vital. Only people with good character are able to do good.

Normative Ethics ( Prescriptive Ethics)

Provide moral guidance on how one ought to act as to examine whether the action is wrong or right, good or bad. * to take care of our parents is an obligation (key word: moral behaviour)

Ethical Problems

Covert Ethical Problems

Involves corporate acquisitions, marketing and personnel policies, insider tradings, market war etc. They are complex, difficult to locate, to eliminate and are consequently much more dangerous and threatening to business.

Overt Ethical Problems

Deal with bribery, theft, sabotage etc. They are clear for everyone to see and are generally considered reprehensible.

Business Ethics Definition

A branch of ethics that examines ethical rules and principles within a commercial context, the various morals or ethical problems that can arise in a business setting, and any special duties or obligations that apply to persons engaged in commerce.

Ethics Definition

Concern on what is good or right in human interaction. It revolves around three central concept: self, good and other.

Subtopic