Question

In: Economics

The past decade has been marred by a series of scandals in South Africa’s private sector,...

The past decade has been marred by a series of scandals in South Africa’s private sector, each demonstrating a clear lack of ethics, each fraudulent in their own special way (Business Insider South Africa, 2020).

With the aid of appropriate business related examples, critically debate the three (3) Ethical Models of Jones and George (2003) and advise the business community on the most suitable model for organisations to adopt.

Solutions

Expert Solution

The famous model of Jones and George is known as the utilitarian model, moral rights model and justice model. These ethical decision selection models can be used by any manager that is accepted with any ethical difficulty.

i) Utilitarian Model:- Utilitarianism is one of the famous most important moral theories. Like other categories of consequentialism, its main thought is that whether actions are morally correct or incorrect relays on their impacts. Specially, the only impacts of actions that are applicable are the good and bad outcomes that they produce.

ii) Moral rights model:- :Moral rights model, is one that best sustains and protects the basic rights and advantages of the people concerned by it.

iii) Justice ethical model:- It is the ethical model which allotes the advantages and disadvantages among stakeholders in a honest and, equitable way.

The most suitable model for organisations to adopt is utilitarian model. Utilitarianism delivers a guiding structure of decision making implanted in social welfare which support direct business toward more ethical actions. It holds that the most ethical selection is the one that will produce the prominent good for the prominent number.


Related Solutions

(Private Sector and Caribbean Development) The private sector has been referred to as the “engine of...
(Private Sector and Caribbean Development) The private sector has been referred to as the “engine of growth” for Caribbean economies; implying that this sector is expected to play a leading role in generating output and employment. Do you see a role for government in this environment? If so, please state your reasons and give specific examples of areas of government involvement. Provide References
The private sector has been regarded as a key partner of the public sector in providing...
The private sector has been regarded as a key partner of the public sector in providing funds for Infrastructure Investment. However, the private sector has faced a number of challenges in providing funds for infrastructure development. Discuss the challenges and suggest remedies that will assist the private sector to overcome these challenges
The rate of entrepreneurship has been growing steadily in the United States over the past decade....
The rate of entrepreneurship has been growing steadily in the United States over the past decade. The reasons behind this increase are varied. Most of the people starting a business seek a combination of greater financial success, independence, flexibility, and challenge. Owning a business holds appealing benefits for entrepreneurs like being their own boss, having control over their schedule, and facing new challenges. Almost every entrepreneur starts out as a small businessperson but not every small businessperson starts out as...
For the past decade, rubber powder has been used in asphalt cement to improve performance. An...
For the past decade, rubber powder has been used in asphalt cement to improve performance. An article includes a regression of y = axial strength (MPa) on x = cube strength (MPa) based on the following sample data: x 112.3 97.0 92.7 86.0 102.0 99.2 95.8 103.5 89.0 86.7 y 74.5 71.0 57.4 48.7 74.6 73.6 67.8 59.7 58.2 48.7 (a) Obtain the equation of the least squares line. (Round all numerical values to four decimal places.) y = Interpret...
(a) Over the past decade, some of Japanese savings has been used to purchase large amounts...
(a) Over the past decade, some of Japanese savings has been used to purchase large amounts of U.S. financial assets (typically U.S. government bonds). Suppose Japan suddenly stopped purchasing U.S. financial assets. Graphically illustrate the effect of Japan’s reduction in purchases of U.S. financial assets using the Open Economy model developed in the Ch 6 appendix. (Hint: In your model you will need to draw three diagrams). Clearly label the axes and curves in each of your graphs in the...
Healthcare Policy in the United States has been largely consumed over almost the past decade by...
Healthcare Policy in the United States has been largely consumed over almost the past decade by Affordable Care Act. Why does universal access to healthcare continue to be debated in the United States, and in what ways is this discussion different from the healthcare discussion in other countries?
1 Over the past decade, there has been a strong positive correlation between teacher salaries and...
1 Over the past decade, there has been a strong positive correlation between teacher salaries and prescription drug cost. (a) Do you think paying teachers more causes prescription drugs to cost more? Explain. (b) What lurking variable might be causing the increase in one or both of the variables? Explain. 2 When we use a least-squares line to predict y values for x values beyond the range of x values found in the data, are we extrapolating or interpolating? Are...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years. Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years. Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products...
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years. Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT