BUSINESS ETHICS IN GLOBAL CONTEXT

Business Ethics in Global Context

Name of the Writer

Name of the Institution

Business Ethics in Global Context

Introduction

Ethics creates differentiation between right and wrong. Business ethics refers to a professional ethics and applied ethics form, which scrutinize ethical problems and principles that take place in a business setting.

Discussion

Q1.

Business people have several ethical theories sources to select from when taking decisions. Each ethics system provides a unique standpoint on circumstances and may assist in predicting the decision consequences. Two well-known schools of thought exist with relation to decision making and business ethics. Jeremy Bentham is associated with Utilitarian ethics, considers what is advantageous to maximum number of people. Immanuel Kant is associated with Deontological ethics, considers naturally honorable and ethical actions (Oruc & Sarikaya, 2011).

The decision rationalization has always been a disagreement between the means and the ends. The sense of wrong and right is always exists and is the foundation for what ethics are. There are two different types of decision based ethical systems, Kantian and Utilitarianism ethics that are contrasted and compared below with relation to managerial action.

Utilitarianism refers to an ethical theory affirming that the correct decision is one that benefits the society as a whole. On the other hand, the Kantian ethics principle refers to the balanced process found upon right and wrong and how people distinguish things as being ethically apposite.

In Utilitarian, the managerial decisions are on results. Whatsoever option fabricates the utmost utility or happiness is the best option. In case the maximum probable utility is unachieved, then it is ethically incorrect. Furthermost overall pleasure must be required from the decision for anybody indirectly or directly exaggerated. However, the decisions in Kantian ethical system are based on motives, and are based on intent of acting or will of person. Managerial actions are based on will rather than on the consequences (Robertson & Athanassiou, 2009).

Utilitarian glances at the bigger image. The thought includes the greatest good philosophy for the utmost amount. Intention should be overlooked. The action should be unrelated from the performer. It is essential to involve in actions where the optimistic outcomes are more important than the negative outcomes for people as a whole. On the other hand, Kantians emphasize on both big picture and small details. This refers to an individualistic approach, makes sure that ethical obligations are met without considering the outcomes. Individuals and minorities in an organization cannot be ignored.

Utilitarianism generates happiness. Acts are merely ethically allowed if the outcomes of that act turn out maximum happiness and utility for all engaged. The foundation of this principle refers to the notion of generating the maximum good for the utmost amount. Several supports the approach of utilitarian as it provides more constructive consequences in comparison to a Kantian approach. However, the greater good is brings forth under Kantianism. Under this principle, actions are carried out for the duty sake. Duty is the inevitability of reverence acting out for universal law. Managers perform only actions that are in accordance ...