Essay business ethics

Submitted By bellawaxaz
Words: 953
Pages: 4
Open Document
1. Shaw and Barry distinguish two different forms of utilitarianism. What are these two forms? Briefly describe each.

The first form of utilitarianism was a view by Jeremy Bentham and John Stuart Mill. They viewed utilitarianism as that a person’s actions are right if they create the most pleasure, and wrong if they do not. Both men believed that pleasure and happiness were equal and considered it the ultimate value. They thought of utilitarianism as self-interest. An understanding of this is that if someone gets pleasure out of something or it makes them happy then it is okay for them to do something. For example, if someone gets pleasure out of driving much faster than the speed limit, then according to Bentham and Mill it must be right because it is giving this person pleasure when really this person is breaking the law and it is not okay to do.

The second form of utilitarianism is known as “rule utilitarianism” or called act utilitarianism. This form Is like the view of Bentham and Mill in that it is still about pleasure, but not self-pleasure. This form is on a bigger scale that it is not just one person but many people that it is for. If the overall level of happiness or pleasure is greater than the pain or unhappiness then it is considered a good action. This form is appealing for businesses since there is usually a very large amount of people. An example of this would be a company that is reconstructing its way of working. Part of the companies plan may result in people losing their jobs. Although these people lost their jobs and were unhappy, there were less people losing their jobs than that of the people that were still in the company that were happy so that makes it a good decision for the company.

2. What do economists mean by “the declining marginal utility of money?”

3. Robert Nozick presents his entitlement theory as a function of three basic principles. What are these three basic principles?

#1-The first of Nozicks principles is, A person who acquires a holding in accordance with the principle of justice in acquisition is entitled to that holding. If someone gains something legally and it doesn’t affect someone else, then they have the right to what they gain. If someone was to plant a vegetable garden in their back yard that did not affect anyone else, then they are entitled to what comes out of that garden.

#2- The second of Nozicks principles is, A person who acquires a holding in accordance with the principle of justice in transfer, from someone else entitled to the holding, is entitled to the holding. If the person that planted the garden decides to give away some of the vegetables to their neighbor, then their neighbor is entitled to the vegetables that were given to them.

#3- The third of Nozicks principles is, No one is entitled to a holding except by (repeated) applications of 1 and 2. If someone was to go to the vegetable garden and take from it as they pleased without the permission of the person who is already entitled to it, then they are not entitled to anything in the garden.

4. Two main features of John Rawls's theory of distributive justice are particularly important. What are these two features? Describe them.

#1- The first feature of Rawl’s theory of distributive justice is the hypothetical-contract approach. This feature of Rawl’s theory states that people in a society should come together to determine the ground rules for their society, specifically, government. He believes that instead of their society being built off of or reconstructed from what may have been in the past, that people
Show More

Related Documents: Essay business ethics

Business Ethics In Business

INTRODUCTION Business ethics is a study of moral standards and how these apply to the systems and organizations through which modern societies produce and distribute goods and services, and to the people who work within these organizations. Business ethics, in other words, is a form of applied ethics. It includes not only the analysis of moral norms and moral values, but also attempts to apply the conclusions of this analysis to that assortment of institutions, technologies, transactions, activities…

Words 1543 - Pages 7

Business Ethics

Ghazaleh Tavakolishanjani Business Ethics Professor Peter Sebhatu National University 1. No. The ability to act with rectitude, to refer their policies and plans to a culture of ethics that embraces the most fundamental moral principles of humankind, which serves to legitimize the maximization of shareholder wealth. 2. Yes. These resources may be both tangible and intangible. Shareholders, for ex- ample, supply capital; suppliers offer material resources or intangible knowledge; employees…

Words 314 - Pages 2

Business Ethics

Business Ethics Karl Claudio Composition GE-117 Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. The economy these days is at a low point for many consumers in United States. Due to the economy, prices are getting higher, many people’s income is decreasing…

Words 555 - Pages 3

The Importance Of Business Ethics In Business

purpose of business practices that are put in place is to provide the company with approval and favorable expert position among merchants, consumers, and prospective collaborations. These characteristics and having well-known business ethics allow room for the business to grow in many areas such as building working relationships. The positive outcome of these relationships can consist of merchandise prices being lower, consumers being loyal with returning their business, and the business growing from…

Words 727 - Pages 3

Essay on Business Ethics

What is ethics? Ethics can be defined as a set of principles used by an individual to govern his or her decisions in an effort to ensure fairness and equality. Business ethics, as defined by the Stanford Encyclopedia of Philosophy is the applied ethics discipline that addresses the moral features of commercial activity. The same source also gives a history of business ethics which states that the concept as an academic principle is relatively young-only about forty years old; but in general is as…

Words 1442 - Pages 6

Business Ethics Essay

Business ethics refers to those values, standards and principles that operate within business (McGraw-Hill Irwin). Business ethics can also be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the company’s culture sets standards for determining the difference between good and bad decision making and behavior. In today's modern business world, the road to success requires more than merely technical skills, practical…

Words 645 - Pages 3

Business Ethics: Ethics And Moral Reasoning

HEADER: BUSINESS ETHICS Business Ethics Kimberly Lindsey PHI 208: Ethics and Moral Reasoning Instructor John Ludes June 16, 2014 BUSINESS ETHICS 2 Introduction In this paper we will be discussing how businesses and management should and do show superior business ethics in doing what is right for the company as well as the employees. The reason for there to be business ethics, is to choose and know what is right and what is wrong in the business and with…

Words 1584 - Pages 7

Essay On Business Ethics

Business Ethics Papa James Ethics and Moral Reasoning: PHI 208 Instructor David A. Smith March 10, 2014 Business Ethics The issues behind business ethics has expand over times. Sometimes companies do not treat their employee’s right and follow their code of ethics. This could cause troubles for the company. Business ethics is a format of professional ethics that examines moral and ethical problems that come about in a business environment. The heart of any company is their employees. The policies…

Words 783 - Pages 4

Enron Business Ethics

one of the biggest energy companies in America, was reviewed by Paul Healy, the James R. Williston Professor of Business Administration at Harvard, and Krisha G. Palepu, the Ross Graham Walker Professor of Business Administration at Harvard, who state that “despite the elaborate corporate governance network, Enron was able to attract large sums of capital to fund questionable business model, conceal its true performance through a series of accounting and financing maneuvers, and hype its stock to…

Words 2133 - Pages 9

Essay on Business Ethics

Business Ethics MGMT-1125 6/5/2013 Rhonda Ledbetter | Business Ethics Business ethics are forms of applied ethics or professional ethics that examine ethical principles and moral or ethical problems that arise in a business environment. It can also be defined as the moral values and principles set forth for a company or market. Proper business ethics are vital for a business to be successful, providing quality care and honesty to consumers. Business ethics are important because how a business…

Words 527 - Pages 3