Ethics

Introduction

Ethics in the area of business management had vital importance for making the viable and effective decision, and sometimes it also help the organizations for creating long term value for the success. In simple terms Ethic refers to principles of behaviour that conveys the message about how the human beings will act in certain situations and circumstances. These situations can be encountered with their friends, family members, parents, children, business people, citizens, professionals, teachers, and so on. In maintaining the personality and characteristics of an individual or an organization ethics is very important. In this paper I will be going to analyze and summarize the ethics principle on different perspective, including the five sources of ethical standards discuss in the videos, and then the analysis will be based on the my perspective of ethics and its importance.

Ethical Standards

Ethical standards are hard to measure, as there are two fundamental problems related to identifying and measuring the standards of ethics. These fundamental problems are, the basis on which the ethical standards are measured, and secondly how those basic standards are applied and link to specific situations face by an individual (Aristotle, p. 152). If our ethics are not based on the religion, feelings, law, science or accepted social practices, than what are that basis where these ethical standard are based. Many ethicist and philosophers have tried to assist in this critical question and arguments. They have suggested five different sources for the understanding of ethical standards (Frankena, p. 103).

Five Sources of Ethical Standards

The first source of Ethical standard is the “Utilitarian approach”, which emphasize on the ethical actions that causes the maximum benefits instead of harm, or putting it in another way it suggest that the production of any action by humans is greatly balanced by the good over harm. ...