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Countries and cultures that follow this orientation can result in dictatorships and absolutist regimes that practice different forms of slavery and abuse to large numbers of people. In fact, we could argue that anything that makes an impact on people should legitimately be within the scope of business. Utilitarianism beckyschroeder. It is not only a method to make a decision; it is a way of incorporating a humane consideration of and for individuals and groups when deciding a course of action. 1999-2023, Rice University. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . According to Mel & Snchez-Runde (2013), Universal ethics can be perceived as a form of moral constitution which is expressed as a set of specific ethical President Johnson was pressured to resign, Secretary of State McNamara later apologized, and the war eventually ended with U.S. troops withdrawing. The utilitarianism principle basically holds that an action is morally right if it produces the greatest good for the greatest number of people. Additionally, the study investigates if the Responsibility to Protect (RtoP) adoption can be interpreted and derived from the moral theories by focusing on one of the three RtoP pillars, prevention. They do need to understand people and their motives, to know how to read and judge character, and to have the ability to imagine themselves in anothers shoes, be they those of a competitor, a boss, or a subordinate. Until that time, international firms doing business in South Africa were expected to abide by the apartheid policy and its underlying values. As you read these, ask yourself which principles characterize and underlie your own values, beliefs, behaviors, and actions. Utilitarianism: Ethical Theories and Business. 131 0 obj As some have asked, What is a human life worth?. It is either less clear what to do or harder to do it because of constant pressure to increase the organizations profitability and the perception that everybody else is doing it.29. | These disagreements can be clarified, and perhaps in part resolved, by distinguishing a number of different conceptions of universalism in ethics. 94 terms. Grounded in good character, motives, and core values, the principle is best exemplified by those whose examples show the virtues to be emulated. BUSG 210 - Practice Midterm II b. At the organizational and societal levels, laws, regulations, and oversight can go a long way e d u / j v b l)/Rect[230.8867 233.3227 360.5693 245.0414]/StructParent 5/Subtype/Link/Type/Annot>> Iss. endobj When we present the specifics and facts of a situation, this and the other principles begin to make sense, although judgement is still required. are licensed under a, Ethical Principles and Responsible Decision-Making, Major Characteristics of the Manager's Job, How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems, Administrative and Bureaucratic Management, External and Internal Organizational Environments and Corporate Culture, The Internal Organization and External Environments, Organizing for Change in the 21st Century, Ethics, Corporate Responsibility, and Sustainability, Dimensions of Ethics: The Individual Level, Leadership: Ethics at the Organizational Level, Ethics, Corporate Culture, and Compliance, Emerging Trends in Ethics, CSR, and Compliance, Cultural Stereotyping and Social Institutions, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Strategic Analysis: Understanding a Firms Competitive Environment, Gaining Advantages by Understanding the Competitive Environment, A Firm's External Macro Environment: PESTEL, A Firm's Micro Environment: Porter's Five Forces, Competition, Strategy, and Competitive Advantage, The Strategic Management Process: Achieving and Sustaining Competitive Advantage, The Role of Strategic Analysis in Formulating a Strategy, Strategic Objectives and Levels of Strategy, Planning Firm Actions to Implement Strategies, Measuring and Evaluating Strategic Performance, An Introduction to Human Resource Management, Influencing Employee Performance and Motivation, Talent Development and Succession Planning, Benefits and Challenges of Workplace Diversity, Situational (Contingency) Approaches to Leadership, Substitutes for and Neutralizers of Leadership, Transformational, Visionary, and Charismatic Leadership, Opportunities and Challenges to Team Building, Factors Affecting Communications and the Roles of Managers, Managerial Communication and Corporate Reputation, The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing, Formal Organizational Planning in Practice, Management by Objectives: A Planning and Control Technique, The Control- and Involvement-Oriented Approaches to Planning and Controlling, MTIIts Importance Now and In the Future, External Sources of Technology and Innovation, Internal Sources of Technology and Innovation, Management Entrepreneurship Skills for Technology and Innovation, Managing Now for Future Technology and Innovation, https://openstax.org/books/principles-management/pages/1-introduction, https://openstax.org/books/principles-management/pages/5-3-ethical-principles-and-responsible-decision-making, Creative Commons Attribution 4.0 International License. Arguments Against Business Ethics In a free market economy, the pursuit of profit will ensure maximum social benefit so business ethics is not needed. A managers most important obligation is loyalty to the company regardless of ethics. So long as companies obey the law they will do all that ethics requires. Read the article Panama Papers FAQ: All You Need to Know About The 2016 Investigation on the Panama Papers and how journalists might hold the corporate world to account in cases of fraud and corruption for a detailed explanation. consent of Rice University. She chose, with the support of and pressure from her editorial staff, to release the classified documents to the public. The following section discusses how ethical leadership at the top and throughout organizations affects ethical actions and behaviors. org/10.4135/9781473910034 More information Summary Contents Universalism, belief in the salvation of all souls. X [%:6Ou\Ng73Y Scandals. Personal responsibility is a different matter. endobj Use of this principle generally applies when resources are scarce, there is a conflict in priorities, and no clear choice meets everyones needsthat is, a zero-sum decision is imminent, Universalism is a principle that considers the welfare and risks of all parties when considering policy decisions and outcomes. If there is anything to be learned from these scandals, it is that organizations will succumb to ethics crises if they do not pay attention to their organizational culture and foster their employees growth as moral beings. This is even more important in industries like banking that are more susceptible to unethical behavior because of the great sums of money that change hands. (3) Who gets hurt? However, the nature of human happiness is subjective. In opposition to moral relativism, moral universalismalso called moral objectivismholds that there are objective right or wrong actions, independently of the 0000001304 00000 n Organizational ethical practices include how a Human flourishing may not be the immediate concern of business, but managers and employees have a significant impact on business performance. 0000004093 00000 n 0000003514 00000 n 0000017527 00000 n W. Wahdat-ul-Wujood - Wahdat-ul-Shuhud - War, philosophy of - Western philosophy - Wu wei. Virtue ethics is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. *$nMY9s:SZC;>M:yREn\rDk~iG']rDn>v]1m7@u,sI>wQZVmb^emU(W y Q)\u58y.? Many leaders character and actions serve as examples of how character-based virtues work. citation tool such as, Authors: Stephen M. Byars, Kurt Stanberry. A Framework for Making Ethical Decisions, 11. The Journal of Values-Based Leadership: Vol. Business Ethics The universalizability theory holds two significant views. Some of the principles presented here date back to Plato, Socrates, and even earlier to ancient religious groups. Or it may be identified with various claims to identify a single fundamental universal principle, from which all other ethical principles and judgments derive. Business Ethics Universal WebUniversal ethics [ edit] There are several ethical standards that are considered to be self-evident, and seem to apply to all people throughout all of history, regardless of cultural, political, social, or economic context. Still, the U.S. Constitutions Bill of Rights, ratified in 1791, was designed as and remains the foundation of, which is based on freedom and justice to protect the basic rights of all. WebUtilitarianism is a consequentialist ethical approach it focusses on the outcomes of an act to judge its goodness. The society, on the other hand, perceives business ethics as the right or wrongs that occur as a result of organizations operating in the community. A simple way of summarizing this principle when examining a moral dilemma is to ask of a proposed action or decision: (1) Is it fair? Corruption appears to exist everywhere, so it would seem to require a persistent and consistent answer everywhere. The 2017 conviction for bribery and embezzlement of Lee Jae-yong, heir to the Samsung electronics empire, was part of a widespread corruption scandal that brought down the president of South Korea. For example, the following precautionary actions might have prevented the disaster: updating the equipment and machinery that failed in the BP and the Exxon Valdez oil crises and investment banks and lending institutions following rules not to sell subprime mortgages that could not and would not be paid, actions that led to the near collapse of the global economy. My Account <>/Metadata 127 0 R/Outlines 88 0 R/Pages 124 0 R/StructTreeRoot 93 0 R/Type/Catalog/ViewerPreferences<>>> 6. It is an orientation that many use quite frequently. 1. It focuses on the type of person we ought to be, not on specific actions that should be taken. Dec 12, 2022 OpenStax. Following a review of normative research on corporate codes of ethics, a set of universal moral values is generated by considering three sources: (1) corporate codes of ethics; (2) global codes of ethics; and (3) the business ethics literature. Based on the convergence of the three sources of standards, six universal moral values for corporate codes of ethics are proposed including: (1) trustworthiness; (2) respect; (3) responsibility; (4) fairness; (5) caring; and (6) citizenship. Without a relationship of trust, there can be no exchange of goods or services upon which economies are built. Furthermore, most religions have high ethical standards but do not address many of the problems faced in business. Diversity and Inclusion in the Workforce, 28. It poses an extremely high cost to the citizenry, it saps the credibility of government and it places companies under an unbearable economic burden.26 The classified documents contained information proving that generals and other top-level government administrators were lying to the public about the actual status of the United States in the Vietnam War. Utilitarianism Theory and Business Ethics In the case of LIBOR, the United Kingdoms Serious Fraud Office determined there were inadequate systems of oversight in the setting of rates and that individual executives encouraged rate fixing, which led to the conviction of several traders, at least one of whom still maintains his innocence.33 Accommodating Different Abilities and Faiths, 29. Available at: B. what ethical behaviors should be expected of company personnel in the course of doing their jobs. In the ideal case, the organizations culture never allows the latter, because scandals not only damage reputations but they make companies and countries much less attractive to investors. If you need friends or relationships in the government bureaucracy in order to get your imports cleared or your license extended, then that means particularism. Utilitarianism, Universal Ethics, Golden Rule, and Virtue Ethics citation tool such as, Authors: David S. Bright, Anastasia H. Cortes. Transparency, whistleblower programs, ethics training, and modeling of appropriate behavior by upper management can create the conditions for employees to act ethically, but conscience is a personal phenomenon.