Deontological, Utilitarianism, And Virtue Ethics In Business

The word deontology comes from the Greek word “deontos” which means duty (Adams, 2011). Deontology can be defined as doing what is morally correct regardless of the final results as long as they abide by the moral principles. Certain actions, like lying, are never allowed regardless if its outcomes benefit the purpose and no harm is caused. The theory states that whether an action is ethical and follows the moral rules, depends on the intentions behind the decisions (Pieper, 2008). So for an action to be “good” and morally right, it must have been performed at goodwill and abide to moral values.

The object of this essay is to establish whether there is an ethical theory that can be successfully applied to business organisations. In order to answer this question, it is necessary first to define the major ethical theories, which are utilitarianism, deontology and virtue ethics, before determining whether there are any other options. After that, the ethical needs, problems and limitations of work organisations will have to be examined so that the different theories can be evaluated in this context. It will also be important to draw a distinction between the terms "accurate" and "useful" as these actually result in two different questions the answer to which need not necessarily be the same. Another essential part of this discussion

Shaw, W.H. (2014). Business ethics: A Textbook with cases, (8th ed.). Boston, MA : Cengage.

What Friedman implies is that shareholders should only be concerned with maximizing profits and not be obligated to be “socially responsible.” In that case, the manager would only have one priority, to maximize profits. However, what if that manager determined that social endeavors is the best option to maximize profits? This would make the corporation socially responsible while still maintaining maximum profits. The argument presented by Friedman in this case is that while the manager is performing as expected by maximizing profits, this type of “social responsibility is frequently a cloak for actions that are justified on other grounds rather than a reason for those actions.”

Desjardins, J. (2009). An introduction to Business Ethics (3rd Ed.). Boston: McGraw-Hill Higher education. pp. 26~41.

There is an ethical epidemic that is plaguing this world and it is called Human Trafficking. Human trafficking is a serious crime that violates common human rights by trading humans and forcing them to complete acts of coerced labor, or sex slavery. It is the 2nd largest criminal operation in the world next to the drug cartel and it is done to make money off these innocent lives (Ottisova, 2016). The illegal trade and exploitation of human beings for forced labor, prostitution and reproductive favors is unethical and unacceptable by our society because many United States organizations are starting to work together to stop these intolerable acts to end the suffering and pain.

Every business develops a set of ethical principles that they abide by. The business ethical principles intentions: it construct the business certainty in the community , maintain the employees liveried in what the business attempt to have as structural conducts and aid the employees consume principles to make ethical choices that guards the business. In a culture with a diverse assessment structure and augmented judgment visibly by companies with changeable ethics and interests, there appears to be further difficulties on business individuals to make tougher ethical assessments. In our day-to-day performances, we depend on on our ethical principles to monitor us in the correct path and do the correct things. The substance of any efficacious and perpetual business is they segment a mutual ethical matter concentrating on presenting and generating value along with allocating their business values with the citizens they network with on a day-to-day basis.

Business ethics and values have developed through time and crosswise over orders into a field, which is a standout amongst the most vital subjects in the field of business. For the authentic improvement of business morals, it is vital, to begin with, a meaning of business ethics and values in a worldwide setting (Savage, 2005). The study characterize business ethics and values from an administrative viewpoint as choices about what is correct or wrong (worthy or unsuitable) in the authoritative setting of arranging and actualizing business exercises in a worldwide business condition to profit (Child, 2015). The development

Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2015). Business ethics: Ethical decision making and cases (10th ed.). Mason, OH: Cengage.

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

In South Park, South Park illustrates normative ethics in society and people. The characters and scenarios are well scripted to categorize the three main theories of normative ethics; utilitarianism, deontology and virtue ethics. The show constantly displays the universal mindsets of multiple people within various situations and how one effects the other and the world. Majority of these scenarios, virtue ethics brings about the best results for those within the South Park community and the main characters. In the following, I will argue why virtue ethics is the most effective theory to always follow of all theories and how always following a utilitarianism and deontology approach can cause conflict within oneself and society.

The Deontological ethics is marked by steadfastness to universal principles—for example, respect for life, fairness, telling the truth, keeping promises—no matter what the consequences (Halbert, Law & Ethics in the Business Environment. pg. 17).

Taking a share holder approach to social responsibility, Milton Friedman views shareholders as the economic engine of the organization and the only group a firm must be socially responsible to. For the risk taken by investing in the firm, Friedman says the goal of the firm is to maximize profits and return portions of those profits to shareholders. Because a firms’ only concern is to increase profits for themselves and shareholder, they have not social responsibility to the public or society. The shareholder themselves in their private capacity, have social responsibility. Friedman states that the only social responsibility a business has is to use its resources to increase profits. The company is to engage in open and free competition without deception or fraud (Dunn & Burton, n.d.).

Friedman felt that Governments should run social programs, not corporations. In the free enterprise system managers are responsible only to stockholders. Spending money on social projects wrongly appropriates money that belongs to the company. It also robs consumers, who must pay higher prices for products. Friedman argued that this is “taxation without representation.” Corporate Social responsibility threatens political freedom because it requires that companies perform political functions, gives executives political power, and opens business to evaluation by political criteria. Friedman also argued that corporations should not take on political and social projects outside of their economic expertise. Friedman Idea argues that the only social responsibility companies have are to maximize profits while staying within the law. According to the case study Friedman’s ideas seems to characterize the attitude of Jack Welch while he was in Charge at GE. Welch concentrated on playing the competitive game, building dominant businesses, and making money. Although GE did give money to different causes and charities, never emphasized any social responsibility, and focused the company on only increasing the shareholders return on investment. Welch agreed with Friedman’s view that managers should give primacy to the interests of shareholders.

The object of this essay is to establish whether there is an ethical theory that can be successfully applied to business organizations. In order to answer this question, it is necessary first to define the major ethical theories, which are utilitarianism, deontology and virtue ethics, before determining whether there are any other options. After that, the ethical needs, problems and limitations of work organizations will have to be examined so that the different theories can be evaluated in this context. It will also be important to draw a distinction between the terms “accurate” and “useful” as these actually result in two different questions the answer to which need not necessarily be the same. Another essential part of this discussion