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Module 1

The document discusses the meaning and definitions of ethics and business ethics. It outlines four key ethics theories - teleological, deontological, virtue, and system development ethics theories - and provides examples of each. The document also discusses the nature, objectives, and need for business ethics.

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AP ABHILASH
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Download as DOCX, PDF, TXT or read online on Scribd
48 views

Module 1

The document discusses the meaning and definitions of ethics and business ethics. It outlines four key ethics theories - teleological, deontological, virtue, and system development ethics theories - and provides examples of each. The document also discusses the nature, objectives, and need for business ethics.

Uploaded by

AP ABHILASH
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Meaning of ethics
The word “ethics” is derived from the Greek word ‘Ethicos’ originated from
‘ethos’ means character and from the Latin word ‘Ethicus’ means mores or
customs.
2.Definition of ethics.
Ethics is a branch of philosophy that is concerned with human conduct. It
consists of a code of conduct of human beings living in a society. Ethics
examines the rational justification for our moral judgments; it studies what is
morally right or wrong, just or unjust.
3. Definition of Business Ethics.
It is a form of applied ethics. Business ethics are moral principles that define
right and wrong behavior in the world of business. What constitutes right and
wrong behavior in business is determined by the public interest groups, and
business organizations, as well as an individual’s personal moral and values.
4.Nature of Business Ethics.
 Creates Goodwill and Enhance Profits.
 Brings loyalty of customers and workers.
 Reconcile corporate interest with moral demands.
 Healthy rewards in the long run.
5.Objectives of Business Ethics.
Peter Pratley has prescribed a two fold objective of business ethics which
evaluates human practices by calling moral standards and gives prescription
on how to act morally in a specific situation.
 Analysis and evaluation.
 Provide therapeutic advice.
6.Need For Business Ethics.
 Business operates within the society.
 Every business irrespective of size exists more on ethical means or in
total regards to its social concern to survive long.
 Business needs to function as responsible corporate s in the country.
KEY ETHICS THEORIES(4 types)
 Teleological Ethics Theory
 Deontological Ethics Theory
 Virtue Ethics Theory
 System Development Ethics Theory

1. Teleological Ethics Theory


End Justifies means or the ethical value of actions.
Types of Teleological Ethics Theory
(A) Ethical Egoism –An action is good if it produces results that
maximize a persons self interest even at the cost of others.
There are two types of ethical egoism, these are:-Psychological Egoism and
Enlightened Egoism
 Psychological Egoism-Ethical egoism says “People always and
only want some thing for themselves whenever they act” goes against
the reality of genuine altruism. But the intentional sacrificing of one’s
self-interest for the sake of others disproves the relevance of
psychological egoism.
 Enlightened Egoism- It fulfills the long range self interest of the
actors, also exercises altruistic concern for others.
(B)Utilitarianism –An action is good if it produces greatest amount of
happiness for greatest number of stake holders.
(C) Eudaimonism –An action is good if it promotes the fulfillment of
objectives having human nature and for human happiness.
Deontological Ethics Theory
An action is morally right irrespective of its consequences. Means justifies the
ends.

Types of Deontological Ethics Theory


(A) Negative and Positive Rights Theories –An action is right if it
protects people from the illegal interference by other people or
government in exercising that right(negative).An action is right if it
facilitates any individual in whatever way he wants to survive.
(B) Social Contract Theories –An action is good if it conforms to the
agreed upon terms and conditions meant for social welfare which has
been negotiated by the competent parties.
(C) Social Justice Theories –An action is good if it facilitates the duty of
fairness in the distributive, retributive and compensatory dimensions of
social benefits and burdens.

Virtue Ethics Theory-


To educate human beings and inculcate virtue in him so that he
becomes an inseparable part of the society.
Aristotle’s Notion of Virtue
 The foundation of morality lies in the development of good
virtues with in individuals.
 Moral virtues are desire regulating mechanisms which
remain as a ‘mean’ between two extreme ‘vices’.
Types Virtue Ethics Theory
(A) Individual Character Ethics –It deals with identification and
development of human traits of nobility.
(B) Work Character Ethics –It deals with identification and
responsible development of noble,thoughtful and practitioner
traits at the work place.
(C) Professional Character Ethics –Managerial moral
development shapes work units moral development

System Development Ethics Theory


It deals with studying the nature and scope of providing
supportive framework by which continuous improvement of
ethical conduct will be made and subsequently influence the
ethical value of action.
Types of System Development Ethics Theories
(A) Personal Improvement Ethics – An action is good if it
promotes personal responsibility for continuous learning,
system holistic development improvement, and moral
excellence.
(B) Organizational Ethics – An action is good if it promotes both
formal and informal organizational processes which
increases procedural, positive out come, respectful caring
and innovation in the ethical work culture of the
organization.
(C) Extra organizational Ethics – An action is good if it
promotes the enhancement of collaborative partnership,
collective innovative spirit and global justice in the human
and natural environment.

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