The following section discusses how ethical leadership at the top and throughout organizations affects ethical actions and behaviors.21. | (3) Who gets hurt? These programs are effective for their ability to help individuals act on their principles. WebUniversalism 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. 52 terms. Is it possible to identify a set of universal values that is consistent across cultures and time? 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. 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. V. Value pluralism - Value theory - Vedanta - Verificationism - Verism - Vienna Circle - Virtue ethics - Vitalism - Voluntaryism. To put this question another way, is there a set of universal values that all can endorse? 136 0 obj 148 0 obj <> Applying the common good principle can also be asked by a simple question: How will this decision or action affect the broader physical, cultural, and social environment in which I, my family, my friends, and others have to live, breathe, and thrive in now, next week, and beyond?. Webmoral relativism theory or more similar to the moral universalism theory and if there are any differences between the arguments. Some limitations of this principle suggest that it does not consider individuals, and there is no agreement on the definition of good for all concerned. In addition, it is difficult to measure costs and benefits. This is one of the most widely used principles by corporations, institutions, nations, and individuals, given the limitations that accompany it. The Concept of Ethical Business in Ancient Athens, Ethical Advice for Nobles and Civil Servants in Ancient China, Comparing the Virtue Ethics of East and West, Utilitarianism: The Greatest Good for the Greatest Number, Ethical Decision-Making and Prioritizing Stakeholders, Three Special Stakeholders: Society, the Environment, and Government, Corporate Law and Corporate Responsibility, Sustainability: Business and the Environment, The Impact of Culture and Time on Business Ethics, The Relationship between Business Ethics and Culture, The Workplace Environment and Working Conditions, Contributing to a Positive Work Atmosphere, Criticism of the Company and Whistleblowing, Recognizing and Respecting the Rights of All, Accommodating Different Abilities and Faiths, Animal Rights and the Implications for Business, Ethical Issues in the Provision of Health Care, Changing Work Environments and Future Trends, Alternatives to Traditional Patterns of Work, Robotics, Artificial Intelligence, and the Workplace of the Future, Business Ethics in an Evolving Environment, Making a Difference in the Business World, Profiles in Business Ethics: Contemporary Thought Leaders, The pursuit of happiness is as near a universal human trait as we can find. 138 0 obj In addition, we are sometimes faced with the question, Who has the moral authority to punish to pay compensation to whom? Still, as with the other principles discussed here, justice stands as a necessary and invaluable building block of democracies and freedom. 8 Therefore, utilitarianism goes by the rule that an action is evaluated to be ethical based on a set of rules or principles that can bring the retreat usefulness to the greatest amount of people (Mill, 2006). When in Rome, do as the Romans do.. Accommodating Different Abilities and Faiths, 29. Organizational responsibility is fairly straightforward: Comply with applicable local, state, national, and international regulations. WebBusiness ethics exists on three levels: the individual, the organizational, and the societal. Dec 12, 2022 OpenStax. Discuss need of Value education. Are the Values Central to Business Ethics Universal? 8 grramire. Can Martin Bubers notion of love play a role in business? In opposition to moral relativism, moral universalismalso called moral objectivismholds that there are objective right or wrong actions, independently of the But employees are human beings first, which means any attempt to improve their welfare must begin by thinking of them as human beings rather than as employees. Contributing to a Positive Work Atmosphere, 26. Moral (and human) rights, on the other hand, are universal and based on norms in every society, for example, the right not to be enslaved and the right to work. 0000003514 00000 n then you must include on every physical page the following attribution: If you are redistributing all or part of this book in a digital format, It also involves religion mandates and existing moral codes. Are there human values that apply everywhere despite differences in time, place, and culture (Figure 5.7)? Until that time, international firms doing business in South Africa were expected to abide by the apartheid policy and its underlying values. However, happy employees are one thing; the human flourishing identified by Aristotle and John Stuart Mill is quite another. WebView CONCEPTS & THEORIES OF BUSINESS ETHICS.ppt from MBA 2 at School of Law, Christ University, Bangalore. endobj 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. doi. Feelings may come and go, but the solidarity that people have with each other and the care they take with one another define them as human beings (Figure 5.8). WebView CONCEPTS & THEORIES OF BUSINESS ETHICS.ppt from MBA 2 at School of Law, Christ University, Bangalore. Universalism (pronounced yu-ni-VER-sul-iz-um) is a doctrine that teaches all people will be saved. 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. Boeing leadership encourages employees to proactively seek out issues, speak up and report concerns, and engage with transparency. After all, we cannot make a commitment to serve customers, develop leaders, and improve life for all stakeholders unless there is freedom and moral agency, the necessary ingredients in establishing an attitude of concern, that is, respect for oneself and for others, including all appropriate stakeholders. <>/Border[0 0 0]/Contents()/Rect[499.416 612.5547 540.0 625.4453]/StructParent 4/Subtype/Link/Type/Annot>> Moral theories remain a topic of interest, not just to moral philosophers, but increasingly in business circles as well, thanks to a tainted reputation that urges more awareness in this regard. Limitations here also show that using this principle may not always prove realistic or practical in all situations. The search for a universally applied set of ethics always comes back to it. Web(SEM-III) THEORY EXAMINATION 2020-UNIVERSAL HUMAN VALUES AND ETHICS Time: 3 Hours Total Marks: 70 Note: 1. It is either less clear what to do or harder to do it because of constant pressure to increase the organizations profitability and the perception that everybody else is doing it.29. In fact, John Mackey, the founder of Whole Foods, has said that love has been the basis of his success in business, which translates into care and concern for customers beyond profit and for workers beyond productivity (Figure 5.8).39, Recall the statement by IBM quoted earlier in the chapter: [IBM] remain[s] dedicated to leading the world into a more prosperous and progressive future; to creating a world that is fairer, more diverse, more tolerant, more just.40. Content: formal principles or uniform requirements? 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 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. | Types of Business EthicsPersonal responsibility. Each person who works for a business, whether on the executive level or the entry-level, will be expected to show personal responsibility.Corporate responsibility. Businesses have responsibilities to their employees, their clients or customers, and, in some cases, to their board of directors.Loyalty. Respect. Trustworthiness. More items OpenStax is part of Rice University, which is a 501(c)(3) nonprofit. Using creativity is also important when examining difficult moral decisions when sometimes it may seem that there are two right ways to act in a situation or perhaps no way seems morally right, which may also signal that not taking an action at that time may be needed, unless taking no action produces worse results. WebKeywords: universalism, utilitarianism, punctuated equilibrium 1. As some have asked, What is a human life worth?. Or it may be identified with various claims to identify a single fundamental universal principle, from which all other ethical principles and judgments derive. b. Differentiate "ethics" and "values". This book uses the This principle has at least four major components that are based on the tenets that (1) all individuals should be treated equally; (2) justice is served when all persons have equal opportunities and advantages (through their positions and offices) to societys opportunities and burdens; (3) fair decision practices, procedures, and agreements among parties should be practiced; and (4) punishment is served to someone who has inflicted harm on another, and compensation is given to those for a past harm or injustice committed against them. Webundergraduate and graduate students of business ethics, this article briefly examines the two most popular theories, Universalism (Kantian) and Utilitarianism (consequentialist),