Business Other names for this doctrine are universal restoration, universal WebWe believe that compliance and ethical behavior are everyones responsibility. About Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . Criticism of the Company and Whistleblowing, 27. Ch. This, as with all these principles and approaches, is broad in nature and seemingly rather abstract. Alani_Parra. CONCEPTS & THEORIES OF BUSINESS ETHICS VALUES Basic convictions that a specific mode of (Classical) Maximalism: A right action produces the greatest good consequences and the least bad. As an Amazon Associate we earn from qualifying purchases. They prescribe obligations for everybody, define When we present the specifics and facts of a situation, this and the other principles begin to make sense, although judgement is still required. WebView CONCEPTS & THEORIES OF BUSINESS ETHICS.ppt from MBA 2 at School of Law, Christ University, Bangalore. She chose, with the support of and pressure from her editorial staff, to release the classified documents to the public. Until that time, international firms doing business in South Africa were expected to abide by the apartheid policy and its underlying values. b. Scandals. beckyschroeder. Practical wisdom, however, is often required to be virtuous. The focus still seems to be on organizational responsibility and compliance as opposed to individual responsibility and the formation of ethical conscience. Loyalty to the Brand and to Customers, 24. Some bias is good, as in having a favorable disposition toward those who work hard in intellectually honest ways. A major limitation when using this principle is, Who determines what the common good is in situations where two or more parties differ over whose interests are violated? In individualistic and capitalist societies, it is difficult in many cases for individuals to give up their interests and tangible goods for what may not benefit them or may even deprive them. Applying this principle is related to a quick test before acting or making a decision by asking, What would my best self do in this situation? Others ask the question inserting someone they know or honor highly. The utilitarianism principle basically holds that an action is morally right if it produces the greatest good for the greatest number of people. The dilemma for the Washington Posts then CEO centered on her having to choose between exposing the truth based on freedom of speechwhich was the mission and foundation of the newspaperor staying silent and suppressing the classified information. Virtue ethics is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. 34 terms. : Ethical relativism is really not a principle to be followed or modeled. Vol. <>stream DeGeorge suggests that a course in the philosophy of business would enable students to think about the foundations of businessits values, ends, purpose, and justification . 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 As you read these, ask yourself which principles characterize and underlie your own values, beliefs, behaviors, and actions. If not, and if ethical standards are relative, are they worth having? Practical wisdom, however, is often required to be virtuous. For example, although what constitutes ethical behavior in Islamic society is strongly linked to religious values, secular philosophers can endorse a highly developed commitment to commercial ethics, too. 129 0 obj WebBased on the expressed preferences of 163 undergraduate and graduate students of business ethics, this article briefly examines the two most popular theories, Universalism (Kantian) and Utilitarianism (consequentialist), and presents a SWOT analysis of both. <>/Border[0 0 0]/Contents( \n h t t p s : / / s c h o l a r . The claim that ethical standards or principles are universal is an ancient commonplace of many ethical traditions and of contemporary political life, particularly in appeals to universal human rights. 5. On their list of values, corporate responsibility to the public is among the top ones. Universalism in ethics may be identified with claims about the form, scope or content of ethical principles, or with the very idea that ethical judgment appeals to principles, rather than to particular cases. Also, the issue arises, Who defines virtuous, especially when a complex act or incident is involved that requires factual information and objective criteria to resolve?, The common good is defined as the sum of those conditions of social life which allow social groups and their individual members relatively thorough and ready access to their own fulfillment. Decision makers must take into consideration the intent as well as the effects of their actions and decisions on the broader society and the common good of the many. Ethical relativism is the theory that holds that morality is relative to the norms of one's culture. There are programs that do this, such as Giving Voice to Values at the Darden School of Business at the University of Virginia.35 . Universalism, belief in the salvation of all souls. After all, free enterprise has the interests of the enterprise at heart. These disagreements can be clarified, and perhaps in part resolved, by distinguishing a number of different conceptions of universalism in ethics. Chapter 5 - The Universalist Approach and Kant in Business Ethics from Normative Approaches Published online by Cambridge University Press: 10 November In most professional disciplines, including business, the primary ethical frameworks used in the classroom draw on Universalist approaches. If you belong to such an institution, please log in or find out more about how to order. Many organizations focus on the letter of the law so that they can claim good faith in their effort to create an ethical environment. How can businesses do this? Yet it remains controversial. Unfortunately, in the United States, much of this money is spent on merely meeting the minimum requirements of compliance, so that if there is ever a problem with the Department of Justice or the Securities and Exchange Commission, the organization is insulated from criticism or liability because its employees have engaged in the recommended training. For example, South Africas all-white National Party and government after 1948 implemented and enforced a policy of apartheid that consisted of racial segregation. Web(SEM-III) THEORY EXAMINATION 2020-UNIVERSAL HUMAN VALUES AND ETHICS Time: 3 Hours Total Marks: 70 Note: 1. Discuss need of Value education. Utilitarianism: Ethical Theories and Business. The film The Post, based on fact, portrays how the daughter of the founder of the famed newspaper, the Washington Post, inherited the role of CEO and was forced to make a decision between publishing a whistle-blowers classified government documents of then top-level generals and officials or keep silent and protect the newspaper. trailer Except where otherwise noted, textbooks on this site Giving employees common-sense advice and training in practical ways to counter unethical behavior, as well as ethical role models at the top of the organization, can be more effective than prevention. 4.8 (4 reviews) Term. 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 Recent Governance Reforms: An Executive Summary, 13. Ultimately, the theory of universalism in business ethics helps to promote ethical behavior and responsibility in the business world, and can serve as a powerful tool <>/MediaBox[0 0 612 792]/Parent 125 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> Grounded in good character, motives, and core values, the principle is best exemplified by those whose examples show the virtues to be emulated. are licensed under a. 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. WebBusiness ethics exists on three levels: the individual, the organizational, and the societal. 0000000016 00000 n b. Differentiate "ethics" and "values". Legal rights are entitlements that are limited to a particular legal system and jurisdiction. According to the Union Internationale des Avocats, an international, nongovernmental association of legal professionals, corruption corrodes the democratic principles of accountability, equality, and transparency. Business ethics exists on three levels: the individual, the organizational, and the societal. Using one or more of these principles and ethical approaches intentionally can also help you examine choices and options before making a decision or solving an ethical dilemma. e]__3EwcaXLpMu\6ki3=3A{aji_*i/NQwio+OKZM$>w3@-$CH^~d), q)>x1t4N8S8JrRG?;*6Q^LZE j;@+l8PPi-(v=XFM7%-Ag}VuPfa{+_gU ?hv Z&*~TVF:F78%dDZ N|#*q6]d/PQ{ox S@twnir@/ohoWDw^p Qd~`JyBAAFH 73 terms. It is an orientation that many use quite frequently. 94 terms. 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. Time: 3 Hours Total Marks: 100 Note: Attempt all Sections missinganyIf data;requ suitably choose SECTION A. Attemptall questions in brief. 137 0 obj It recognizes that decisions about right and wrong can be difficult, and may be related to individual context. Only the individuals self-interest and values are relevant for judging his or her behavior. In addition, using this principle can require sacrifice of human lifethat is, giving ones life to help or save otherswhich may seem contrary to the principle. Should business ethics be grounded only on more concrete tenets? Normative business ethics should address systemic issues such as oversight and transparency as well as the character of individuals who make up the organization. 0000002159 00000 n The same action may be morally right in one society but be morally wrong in another. 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. 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. Web(SEM III) THEORY EXAMINATION 2021-UNIVERSAL HUMAN VALUES & PROFESSIONAL ETHICS. then you must include on every digital page view the following attribution: Use the information below to generate a citation. c. So, universalist ethical principles may present difficulties when used in complex situations, but such principles can also save lives, protect the integrity of a nation, and stop meaningless destruction. The following section discusses how ethical leadership at the top and throughout organizations affects ethical actions and behaviors. <<77326D38A9B4B2110A000018C493FC7F>]/Prev 592216>> An action is morally right if the net benefits over costs are greatest for all affected compared with the net benefits of all other possible choices. From these systems has emerged a basic set of ethical norms for the business world. 1 / 35. Business ethics concerns. 148 0 obj What responsibilities do companies have regarding justice and care? WebAdherents of ethical universalism are likely to believe that Common agreement about right and wrong is the basis for ethical standards that apply to all businesspeople. [133 0 R 134 0 R 135 0 R 136 0 R 137 0 R 138 0 R 139 0 R 140 0 R] Still, legal requirements are usually clear, as are the ways an organization can exceed them (as do, for example, companies such as Whole Foods, Zappos, and Starbucks). This book explores the reasons why grappling with universality and ethics W. Wahdat-ul-Wujood - Wahdat-ul-Shuhud - War, philosophy of - Western philosophy - Wu wei. These principles can be, and are, used in combination; different principles are also used in different situations.18 The principles that we will cover are utilitarianism, universalism, rights/legal, justice, virtue, common good, and ethical relativism approaches. WebFollowing 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) The damage done to an organizations or governments reputation due to scandal can be enormous and long lasting. This principle, as with universalism, can always be used when individuals, groups, and nations are involved in decisions that may violate or harm such rights as life, liberty, the pursuit of happiness, and free speech.
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