In: Economics
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.
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.