Question

Objective

Identify ethics theories used in business

Categorize theories of ethics

Apply theories of ethics to business situations

Overview

Students will use research methods and apply critical thinking to create a taxonomy of germinal theories and principles of ethics.

Instructions

In this assignment, you will use the Internet, books, or any other method of research to create a taxonomy (chart) of ethical theories and principles and provide examples to apply the theory.

The taxonomy should include a minimum of 5 ethical theories or principles and include: the name of the theory or ethical principle, the author, the year/era the theory was conceptualized, and an example of the theory’s application.

Example:

Theory	Era and Author	Definition	Example
EMOTIVISM .	[S. L. Stevenson] Influenced by the growth of analytic philosophy and logical positivism logical in the 20th century	Says moral judgments are mere expressions of emotion.	To say, “the garden is beautiful!!” It’s a mere expression of emotion it’s not a right or wrong statement. Your interpretation of whether you feel it is or isn’t beautiful is what draws one to try and sway the others opinion to be similar.

Step 1 – Research and select five theories or principles of ethics.

Step 2 – Open Microsoft Word and create a table

Your table should have 4 columns and 6 rows

Include the following columns: Theory, Era and Author, Definition, and Example

Step 3 – Add information about the theories you’ve selected to your document.

Answer 1

Q.No 3:-

Ethics Theories Used In Business.

Deontology:-The deontological class of ethical theories states that people should adhere to their obligations and duties when engaged in decision making when ethics are in play. This means that a person will follow his or her obligations to another individual because upholding one’s duty is what is considered ethically correct. This ethical theory in the world of business results in the desired successful progress.

A person who adheres to deontological theory will produce very consistent decisions since they will be based on the individual’s set duties. Deontology contains many positive attributes, but it also contains flaws. One flaw is that there is no rationale or logical basis for deciding an individual’s duties. For instance, a business person may decide that it is his/her duty to always be on time to meetings. Although this appears to be something good, we do not know why the person chose to make this his duty

Utilitarianism:- Utilitarian ethical theories are based on one’s ability to predict the consequences of an action. To a utilitarian, the choice that yields the greatest benefit to the most people is the one that is ethically correct. There are two types of utilitarianism, act utilitarianism and rule utilitarianism. Act utilitarianism subscribes precisely to the definition of utilitarianism—a person performs the acts that benefit the most people, regardless of personal feelings or the societal constraints such as laws. Rule utilitarianism takes into account the law and is concerned with fairness. This theory is also applicable to the business where the success id predicted and actions are taken for the future for the growth of the business.

Q.No 1 & 2 Categorization of ethical theories and these are the ethical theories used in business

Ethical theories can be said either descriptive or normative.

Ethical Theories Descriptive Normative Describe ethical phenomena Provide general rules and principles of behavior. A descriptive approach to ethics attempts to describe the moral systems of groups or societies. As such it involves empirical research on individuals, groups, and societies in order to uncover moral beliefs. Topics Covered by Descriptive Ethics • Values Ethical ideals , Moral virtues , Wrong and right actions and behaviors , Moral systems (relativism)…

Ethical theories are said to be normative if they propose “to prescribe the morally correct way of acting”. Normative theories of ethics or «moral theories» are meant to help us figure out what actions are right and wrong.

Normative ethical theories attempt to answer two main questions: (1) what is the good life for men? (2) How ought men to behave? Normative ethical theories might be interpreted as answers to requests for advice on how to deal with aspects of daily living.

Ethical theories can be categorized into Traditional ethical theories and contemporary ethical theories.

	Theory Era and Author Definition Example Utilitarianism Jeremy Bentham, the founder of utilitarianism, described utility as the sum of all pleasure that results from an action, minus the suffering of anyone involved in the action. was substantially modified by his successor John Stuart Mill, who popularized the word 'Utilitarianism' In 1861 The most basic, states that something is moral, or good when it produces the greatest amount of good for the greatest number of people. It's a theory of normative ethics that asks whether a specific action is good or bad, moral or immoral. Utilitarianism answers this question with an economic analysis that focuses on human lives and says that those actions that make people happy are good. A utilitarian may ask whether it's moral for politicians to spend billions of dollars on campaign ads. He or she would examine how the money is spent and whether the ads directly resulted in improving people's lives, or if that money could have been better spent on something else. Stoicism Stoicism is a school of Hellenistic philosophy that flourished throughout the Roman and Greek world until the 3rd century AD. Stoicism was foundedin Athens by Zeno of Citium in the early 3rd century BC, and was heavily influenced by certain teachings of Socrates The stoic ethical system is based on the idea that we should strive towards living in accordance with nature. As humans develop reason with adulthood, they need to become virtuous to achieve this and by extension happiness. Think of the emotions as wind, and Stoic discipline as a set of strong sails. Without discipline, we will be blown off course and probably wrecked; we will have no way of dealing with the emotional storms that blow in. But with good strong sails, we can harness the wind and make it useful. Cyrenaic hedonism Aristippus (born c. 435 BC, Cyrene, Libya - died 366 BC, Athens), the disciples of Socrates. He was the founder of the Cyrenaic school of hedonism, the ethic of pleasure Hedonism is a school of thought that argues that pleasure and happiness are the primary or most important intrinsic goods and the aim of human life Skipping work and going sky-diving. The most ethical thing for a hedonist is to enjoy life and experience pleasure. He needs money for that pleasure so he has a job, but if he feels that today what will give him pleasure is sky-diving, he skips work and goes as the ethic of pleasure is higher than the ethic of responsibility. Virtue Ethics (or Virtue Theory) Virtue ethics began with Socrates, and was subsequently developed further by Plato, Aristotle, and the Stoics in the third and fourth centuries B.C. Virtue ethics (or aretaic ethics are normative ethical theories which emphasize virtues of mind and character. It is an approach to Ethics that emphasizes an individual's character as the key element of ethical thinking, rather than rules about the acts their consequences. For example it is virtuous to be courageous when faced with physical confrontation. However, it is a vice if you are over enthusiastic to fight, and also a vice if you are too cowardly to fight when it is needed. Machine ethics The term Bioethics was coined in 1926 by Fritz Jahr in an article about a "bioethical imperative" regarding the use of animals and plants in scientific research. In 1970, the American biochemist Van Rensselaer Potter used the term to describe the relationship between the biosphere and a growing human population. Potter's work laid the foundation for global ethics, a discipline centered around the link between biology, ecology, medicine, and human values. Bioethics is the study of the ethical issues emerging from advances in biology and medicine. It is also moral discernment as it relates to medical policy and practice. Bioethicists are concerned with the ethical questions that arise in the relationships among life sciences, biotechnology, medicine, politics, law, and philosophy Abortion - is the unborn a person deserving the right to life? Where does the mother's bodily autonomy fit in, and can it outweigh life if the unborn is a person? For that matter, how do we define "person" for this, and what are the implications of how we define it? In light of this, is there a point it should be banned after, or should it be banned or allowed through the whole pregnancy?