Business Ethics Essay

2. Laws must be static and unyielding in order to provide stability for a society.

John Stuart Mill’s principle of utility or the greatest happiness principle is the foundation of his ethical theory. The principle of utility holds that an individual must always act in a manner that produces the greatest happiness for the greatest number. He defines happiness as pleasure or the

closing the stores they could have done community outreach or service projects to help lower the rate of crime. They could have led the establishment of a neighborhood crime watch. They could have set up a mentorship program for teens at risk. There are a multitude of programs they could have implemented, some could probably have been used as a tax write off. If all of these efforts failed then I understand closing the stores. If they had to close the stores they should have made every effort to be sure that the displaced employees were able to find a job in another store or assisted them in being placed in another job. They also need to make every attempt to keep the building they were using occupied or cleaned up until it is occupied. How do these actions contribute to being socially responsible? It shows they care about their community, that even though they may have to shut down a store, they still

Ethics and moral obligations are issues we all encounter at one time or another. In the professional setting, all people should act in a manner that would uphold the good of society. To be ethical, one has to determine their obligations, moral ideas, and moral philosophy (Boatright, p. 19, 2009). The case analysis involving Jacob Franklin was a perfect example of how an individual can face the dilemma of doing what is right or wrong. Businesses have their own code of ethics, and the employees within the business have to determine whether or not they will follow the company’s code of conduct. I will discuss several ethical issues in the case analysis including; failure to report information, remaining silent regarding faulty equipment,

What is principle of justice in acquisition? Our book gives us an analogy concerning basketball player, Wilt Chamberlain that was used by Nozick. The idea

an action can't be right if the people who are made happy by it are outnumbered by the people who are made unhappy by it.

Utilitarianism is the system of values stating that maximizing the total happiness of all people is good. Happiness of people should be sacrificed only to bring greater happiness to other people. Psychologically, immediate happiness corresponds to what you want. Pain, including psychological distress, is the opposite of happiness. Actual happiness is not the same as

For utilitarian philosophers, happiness is the supreme value of life. John Stuart Mill defines Utilitarianism as a theory based on the principle that “actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. By happiness is intended pleasure and the absence of pain; by unhappiness, pain and privation of pleasure” (Mill, Utilitarianism). This meaning that utilitarianism is determined by the calculation of happiness, in which actions are deemed to be good if they tend to produce pleasure, a form of happiness. On the contrary, they are evil if they tend to promote pain. Not only does Mill regard to the end product of happiness in actions, but also considers the motives of such actions. In his argument, Mill defends the idea that happiness as the underlying basis of morality, and that people desire nothing but happiness.

Mills purposes the Greatest Happiness Principle that holds pleasure as being happiness with the complete absences of pain, and unhappiness as being the promotion of pain with the privation of pleasure (155 Ethics). Whereas, pain being anything that brings suffering into a decisional matter. Also, the right action is the action that produces a higher balance of happiness over suffering, meaning the better action results in the most happiness and least suffering. Actions are always done for the sake of an end. The end is referring to the consequence that the action brings. Actions are justifiable based on the consequence to which they give. Mills believed that actions should produce the largest sum of happiness rather than just a minimal amount of happiness. Utility is the means of happiness minus suffering with happiness always

Moral Theories Ethics is moral philosophy in which you think about moral problems and judgments. In order to make moral judgments there are some ethical theory’s that have been created and used. In Exploring Ethics, Steven Cahn talks about three theories, which are Virtue, Deontological, and Utilitarian ethics. Which one should you use? While studying all three theories, I have come to the conclusion that Utilitarianism Ethics is the best way to approach an ethical dilemma.

Therefore, Market West accepted the corporation stock as partial debt. Hooper and Yoder agreed to add Brian Bradley who worked for Market West as the third director. Hooper colluded with Bradley and violated a fiduciary duty to Yoder by issuing 95 shares of stock to himself, 5 shares to Bradley, and none to Yoder. Furthermore, Hooper got paid $141,000 salary from the business without Yoder knowing. More importantly, Hooper and Bradly voted to force Yoder to leave the corporation. After Yoder found out that Hooper broke their agreement, violated Yoder’s rights and duties, acted dishonestly, and made unethical decisions, Yoder sued Hooper and Beautiful Daydreams in the District Court. Under the common law, with these facts, the court supported Yoder and ordered Hooper to give back one-half of the salary plus one-half of the shares of stock to Yoder.

The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.

Utilitarianism has surrounded the view of happiness and ways to endorse it. The thought here is that all individuals look for joy, which is the objective of all individuals. At the point when an individual act is decent, he or she should attempt to achieve the best conceivable measure of happiness which is known as "the greatest happiness principle." An individual must continuously deliver happiness, to decrease unhappiness. The theory is entirely centered around the result of an individual's actions; it is classed as a theory that worries about outcomes rather than activities.

2. Ethical Issues in Business. It seems that every day in the news we are hearing of new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings. There are many ethical issues in business. One major issue that we see is over and under reporting net income. Companies like to show that every quarter the net income of the business has an increase or profit. In order to show this they adopt unethical or illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate earnings. With the recent ethical issues we have

Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.