three approaches to ethical decision
making
first approach - answer conventional approach ( societal norm approach)
conventional approach - answer based on how common, everyday society (avg. people)
view today's business ethics
-relies on use of common sense and wide sense of whats ethical
2 key branches of ethics - answer descriptive and normative
descriptive ethics - answer describing, characterizing and studying the morality of
people/orgs/society
-focuses on "WHAT IS" the set of ethical standards in a business, org. or specific
company/manager
danger of descriptive ethics - answer people think if everyone is doing it then it must be
acceptable
normative ethics - answer seeks to develop basic moral principles that are intended to
guide behavior/actions/decisions
-focuses on "WHAT SHOULD BE" in terms of business practices --> want to establish
standards by which business practices are guided
second approach - answer principles approach (moral guideline focus)
principles approach - answer based on use of ethical principles/guidelines to justify
direct behavior/actions/practices
*generated by moral philosophers
ethics principle - answer ethical concept that will assist you when faced with ethical
dilemma
2 types of ethical theories - answer teleological and deontological
teleological theories - answer focuses on CONSEQUENCES/RESULTS of the actions
they produce
utilitarianism - answer*major principle in teleological category
-take action that results in greater good for the greatest number of people
-consequence based
making
first approach - answer conventional approach ( societal norm approach)
conventional approach - answer based on how common, everyday society (avg. people)
view today's business ethics
-relies on use of common sense and wide sense of whats ethical
2 key branches of ethics - answer descriptive and normative
descriptive ethics - answer describing, characterizing and studying the morality of
people/orgs/society
-focuses on "WHAT IS" the set of ethical standards in a business, org. or specific
company/manager
danger of descriptive ethics - answer people think if everyone is doing it then it must be
acceptable
normative ethics - answer seeks to develop basic moral principles that are intended to
guide behavior/actions/decisions
-focuses on "WHAT SHOULD BE" in terms of business practices --> want to establish
standards by which business practices are guided
second approach - answer principles approach (moral guideline focus)
principles approach - answer based on use of ethical principles/guidelines to justify
direct behavior/actions/practices
*generated by moral philosophers
ethics principle - answer ethical concept that will assist you when faced with ethical
dilemma
2 types of ethical theories - answer teleological and deontological
teleological theories - answer focuses on CONSEQUENCES/RESULTS of the actions
they produce
utilitarianism - answer*major principle in teleological category
-take action that results in greater good for the greatest number of people
-consequence based
