Theories Of Utilitarianism

Firstly Stakeholder is an individual or a group who has an interest in the success of a business I delivering high results and maintaining the viability of the business’s products and services.There are internal and external

A stakeholder is a person or a group of individual who are interested in the success of a business in delivering successful results and maintaining the activity of the businesses products and services. There are internal and external stakeholders in every company. An internal stakeholder is someone who is internally connected to the business that have personal interests which they may follow. An external stakeholder can be a person or a group of people such as investors, customers, suppliers, people who are predisposed by the business but are not fully in the business.

Utilitarianism: “The idea that an action is right, as long as it promotes happiness, and that the greatest happiness of the greatest number should be the guiding principle of conduct (Oxford Dictionaries).” This theory was thought up as far back as the 17th century, but didn’t become well known until late into the 18th century when Jeremy Bentham a legal and social reformer gave a powerful presentation of the idea. “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, will invite you to add something to the pleasure of others, or to diminish something of their pains (Jeremey Bentham).” Deontology: “An ethical theory that the morality of an action should be based on whether

In today 's society, we face many obstacles in our attempt to achieve the feeling of happiness. As intelligent beings, we try to solve these problems by taking the path that best benefits us. The theory of utilitarianism provides a solution to this but at what cost? What are the benefits and disadvantages of utilitarianism? Is utilitarianism an idea one should live by? What is utilitarianism? I plan on answering these questions within this paper and understand how they relate to everyday life. I will also look at arguments for and against utilitarianism. Then analyze the appealing and unappealing features to determine if utilitarianism should be followed as an absolute rule.

Stakeholder theory looks at the relationships between an organization and others in its internal and external environment. It also looks at how these relationships affect how the organization conducts its activities. You can think of a stakeholder as a person or organization that can affect or be affected by your organization. Stakeholders can come from inside or outside of the

The stakeholder theory made popular by Ed Freeman (1984) does seem to represent a major advance over the classical view (Freeman, 1984). It might seem inappropriate to refer to the stakeholder position as neoclassical. Bowie (1991: 56-66) has defined stakeholders as a group whose existence was necessary for the survival of the firm--stockholders, employees, customers, suppliers, the local community, and managers themselves.

The purpose of this paper is to recognize the definition and what a stakeholder is and what it does. I will also explain the two groups of the stakeholders and put the stakeholders in the group where they belong. I will explain what the stakeholders responsibilities are, what their ethical responsibilities to the company. Will explain what would be the appropriate response to the situation in the company. And finally explain what Joe should propose to the management team and how Joe should support his proposal.

Stakeholder is anyone with an interest in a business. Stakeholder can be individuals, groups or even organisations that are affected by the activity of the business, they include:

Utilitarianism as an ethical theory is seen as 'an act that is morally correct if it results in the greatest amount of good for the greatest amount of people affected by the act'. (Crane, Matten, Chapt. 3). It is a principle that concentrates on the outcome of an act and compares the good outcome with the bad outcome and supports the outcome that brings the greatest amount of good for all stakeholders involved.

In general ,the stakeholder approach may be more conducive to balancing a wide variety of corporate interests and thereby discouraging impropriety.Executives and boards should take the perceptions of both shareholders and stakeholders into account when formulating strategy and enunciate their stance in all organizational communications. Only within that kind of clearly delineated context, can managers be expected to make appropriate decisions. Indeed, some of the most successful businesses are those which have embraced stakeholder values for example Bodyshop. However, we see that generally, shareholder value

Utilitarianism is the ethical belief that the happiness of the greatest number of people is the greatest good. Jeremy Betham and John Stuart Mill are two philosophers that were leading advocates for the utilitarianism that we study today. In order to understand the basis of utilitarianism, one must know what happiness is. John Stuart Mill defines happiness as the intended pleasure and absence of pain while unhappiness is pain and the privation of pleasure. Utilitarians feel the moral obligation to maximize pleasure for not only themselves, but for as many people as possible. All actions can be determined as right or wrong based on if they produce the maximum amount of happiness. The utilitarian belief that all actions can be determined as right or wrong based only on their repercussions connects utilitarianism to consequentialism. Consequentialism is the belief that an action can be determined morally right or wrong based on its consequences. Just like any other belief system, utilitarianism faces immense amount of praise and criticism.

The theory of Utilitarianism states that actions should be judged as right or wrong depending on whether they cause more happiness or unhappiness. It weighs the rightness and wrongness of an action based on consequences of that action.

Numerous moral theories have surfaced in the past years. They have been widely debated by philosophers and social reformers. It is important to understand what these theories are because of their influential tendencies in the way people act, especially in making morally right or wrong decisions. Utilitarianism is one of these many moral theories. Upon further analysis, problems with utilitarian thoughts are revealed. It has been widely debated by many philosophers, including G.E. Moore and Immanuel Kant. Like these two philosophers, I argue that utilitarianism is inadequate because of its contradictory nature as a moral theory. It highlights the principle of utility in seeking the greatest pleasure, allowing egotistic and hedonistic actions to be considered moral.

Utilitarianism is a limiting ethical theory that fails to grasp ethically reality. “The greatest good for the greatest number” is not ethically right in every situation. Although the majority would benefit, the minority will heavily suffer. Considering the overall consequences of our actions, the good may not always outweigh the bad, but this does mean that the good will be the ethically right thing to do. One may think they are “maximizing the overall good,” but in reality, harming many.

The (word) stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success. The various stakeholders in business have differing role and their level of involvement in the enterprise varies