Question

In 250 to 300 words using two to three paragraphs, describe the how the Utilitarian principle of what is useful for the greatest number plays a role in business decision making. Are most business decisions utilitarian? What other principles (moral or legal duties; or, being a good person) set limits on what is otherwise permissible on utilitarian grounds? For example, can businesses lie to their customers?

Be sure to cite any works (text, video, or website) referenced!

Answer 1

Answer:

The key meaning of Utilitarian ethics is that an act will be considered rational when this significantly increases the profit of the largest number of individuals and eliminates any damages. It would imply that as companies make decisions, they would remember all such owners who are explicitly related to the company as well as the stakeholders that are indirectly related to it. When seeking to boost their profits, they would also like to maximize the rewards or benefits that consumers earn from buying their goods or services. Therefore, companies will aim to balance their conduct by encouraging the very well-being of those involved.

Consequently, every other company will want to achieve something by encouraging the social welfare-being of customers and shareholders. While manufacturing and selling goods that encourage the welfare of others, companies often strive to conform to the laws and policies while preventing any penalty at the very same time. It will also mean that they would aim to boost its brand identity with a view to increasing their exposure and marketing their products. Trying to engage in constructive activities would allow businesses to grow their business, thus increasing their income.

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