Three Major Ethical Theories

Business Ethics are defined as “moral principles that guide the way a business behaves” (Businesscasestudies, 2017). In order for any business or individual to act in an ethical

Business ethics is the application of right and wrong, good and bad in a business setting.

According to Omidyar & Branson (2016), business ethics are called as corporate ethics which is a set of rules that define the right and wrong behaviour. From the research, ethics are a form of applied ethic that can be used to evaluate whether the conduct of the people are considered acceptable and appropriate. Besides, business ethics are the collective values of a business organization that can be used to evaluate whether the behaviour of the collective members of the organization are considered acceptable and appropriate. In the most basic term, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right.

“Business ethics is the application of general ethical ideas to business behavior” (Lawrence & Weber, 2017, p. 94), and it’s through these ideas that good, bad, moral, and immoral decisions are made based on the foundation and framework of how we view life.

In this essay I have chosen to compare two opposing theories, Immanuel Kant 's absolutist deontological ethics and Joseph Fletchers relativist situation ethics. The deontological ethics focuses on actions made according to duty and the categorical imperative - which shows how acts are intrinsically good or bad. The situation ethics state that no act is intrinsically good or bad, and that actions should b made according to love. From this perspective it looks as thought Kant 's views were less personal than Fletcher 's, although in actuality both focus on the best outcome for humans.

Most people assume that the term ethics refers to the business as a whole. Business ethics apply to the individuals working within businesses. Each individual's action within the company affects the entire company, not just the individual. When any person associated with a business acts ethically and responsibly, it helps the entire organization.

is an obligation by the will to act so that the action can be classified as a

The categorical imperative suggests that a course of action must be followed because of its rightness and necessity. The course of action taken can also be reasoned by its ability to be seen as a universal law. Universal laws have been deemed as unconditional commands that are binding to everyone at all times. Kant

In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.

But in this Act Utilitarian theory of morality, all the little actions that cause more pleasure

Business ethics is a vital element to the growth and success of any business. To be ethical means to have a system of moral principles. Ethics alone is a branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions. To have business ethics you would take the meaning of ethics and apply it to the things that go on it the work place. We are going to take

Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

Therefore, doing the right thing is not driven by the pursuit of individual desires or interests, but by the need to follow a maxim that is acceptable to all rational individuals. Kant calls this the categorical imperative, and he described it thus, “act only on that maxim through which you can at the same time will that it should become a universal law.” (Kant, 2008). This basic condition through which the moral principles guiding the relations between human beings is expected of all rational individuals, and determines how they express their moral autonomy and equality. All rational individuals who are morally autonomous willingly comply with the categorical imperative. They then use it to determine the form and scope of the laws which they will institute in order to safeguard these important conditions that form the basis of human rights (Denise, Peterfreund & White, 1999). According to Kant, human beings have the capacity to exercise reason, and this is what forms the basis for protecting human dignity. This exercise of reason must meet the standards of universality, in that the laws formulated must be capable of being accepted universally by all equally rational individuals (Doyle, 1983). Various accounts documenting the historical development of human rights overlook Kant’s moral philosophy, but it is very clear that, through the categorical imperative, he provides the ideals of moral autonomy and equality

“As a branch of ethics the field of business ethics is interested in how judgments of right and wrong, good and bad, moral obligation and responsibility, rights and duties, and the like, are made and justified” (Gill, David). As a descriptive enterprise, business ethics is an analytical exercise in understanding and explaining how people and businesses make their ethical judgments and decisions. If your business does not carry the proper ethics it cannot thrive. It takes the necessary steps within the business management to enforce these ethics upon their business. The field of business ethics is interested in more than just social and environmental responsibilities but those are certainly critical component areas.