In: Accounting
Explain these mentioned ethical theories with advantages and disadvantages.
1.Teleological
2.Deontological
3.Justice and Fairness
4.Ontological
1.Teleological : Teleology or finality is a reason or explanation for something as a function of its end, purpose, or goal. A purpose that is imposed by a human use, such as that of a fork, is called extrinsic.
2.Deontological : Deontological ethics holds that at least some acts are morally obligatory regardless of their consequences for human welfare.By contrast, teleological ethics (also called consequentialist ethics or consequentialism) holds that the basic standard of morality is precisely the value of what an action brings into being .Most deontologists say there are two different kinds of ethical duties, perfect duties and imperfect duties. A perfect duty is inflexible. “Do not kill innocent people” is an example of a perfect duty. You can’t obey it a little bit – either you kill innocent people or you don’t. There’s no middle-ground.Imperfect duties do allow for some middle ground. “Learn about the world around you” is an imperfect duty because we can all spend different amounts of time on education and each be fulfilling our obligation. How much we commit to imperfect duties is up to us.
3.Justice and Fairness: Justice means giving each person what he or she deserves or, in more traditional terms, giving each person his or her due. Justice and fairness are closely related terms that are often today used interchangeably. ..In any case, a notion of being treated as one deserves is crucial to both justice and fairness.
4.Ontological :an ontology is a formal naming and definition of the types, properties, and interrelationships of the entities that really or fundamentally exist for a particular domain of discourse. ... “...a model for describing the world that consists of a set of types, properties, and relationship types.