We will write a custom Essay on Business Ethics: Utilitarianism, Rights, Justice, Caring, and Virtue theories specifically for you! John Stuart Mill's idea of rule utilitarianism is an ideal approach to business ethics due to consideration of not only the consumer but the employees. Williams explains this argument with a hypothetical execution situation with protagonist Jim.

Utilitarianism can be used in any business decision that seeks to maximize positive effects (especially morally, but also financially) and minimize negative ones. In this article, I suggest and support a utilitarian approach to business ethics. As with Bentham’s formulation, utilitarianism in business ethics is primarily concerned with outcomes rather than processes. The Egoistic Approach One variation of the utilitarian approach is known as ethical egoism, or the ethics of self- interest. One approach maintains that we judge actions by their consequences and the other maintains that we judge actions by appeal to rules.
The Utilitarian Approach assesses an action in terms of its consequences or outcomes; i.e., the net benefits and costs to all stakeholders on an individual level. Utilitarianism, in normative ethics, a tradition stemming from the late 18th- and 19th-century English philosophers and economists Jeremy Bentham and John Stuart Mill according to which an action is right if it tends to promote happiness and wrong if it tends to produce the reverse of happiness—not just the happiness of the performer of the action but also that of everyone affected by it. BUSINESS ETHICS :: Utilitarianism • Introduction • Jeremy Bentham • Theory of Utility • Types of Utilitarianism • Some Criticisms • Moral Dilemma Introduction Over the course of the next two lectures we will be looking at two of the most politically and philosophically significant theories … Utilitarianism pro-vides a guiding framework of decision making rooted in In this article, I suggest and support a utilitarian approach to business ethics. Get your first paper with 15% OFF. Utilitarianism (also called consequentialism) is a moral theory developed and refined in the modern world in the writings of Jeremy Bentham (1748-1832) and John Stuart Mill (1806-1873).

The first theory, utilitarianism, we will consider in this lecture.

In this approach, an individual often uses utilitarian calculation to produce the greatest amount of good for him or herself.

A Defense of a utilitarian approach to business ethics, written for Business Ethics: A Philosophical Approach Edited by Werhane and Donaldson.
Paper #1 In A Critique of Utilitarianism, Bernard Williams argues that when following a Utilitarian approach for moral dilemmas, Utilitarianism might have us sacrifice or modify our moral integrity. Utilitarianism is a doctrine which suggests that actions are correct if they are useful or to the benefit of a majority of the population. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. The idea of applying utility to ethics has its roots in 18th century philosophy.

Utilitarian Approach "ethical actions are those that provide the greatest balance of good over evil" In order to take the utilitarian approach, the problem must be analyzed from several different perspectives, and the solutions to each must be contemplated to arrive at the one that favors the greater good. In this article, I suggest and support a utilitarian approach to business ethics. A Kantian approach to business ethics The importance of purity of motive • Kant argued that the highest good was the good will. Utilitarianism provides a guiding framework of decision making rooted in social benefit which helps direct business toward more ethical behavior. The second theory, called deontology, will be addressed later. As with Bentham’s formulation, utilitarianism in business ethics is primarily concerned with outcomes rather than processes.

It strives to achieve the greatest good for the greatest number while creating the least amount of harm or preventing the greatest amount of suffering. The utilitarian approach, also called utilitarianism, is essentially a moral principle that asserts that morally correct actions are those that provide the greatest volume of benefits over harms for the majority of people. Deontological Ethics There are two major ethics theories that attempt to specify and justify moral rules and principles: utilitarianism and deontological ethics.

To act from a good will is to act from duty. If the outcome leads to the greatest good (or the least harm) for the greatest number of people, then it is assumed the end justifies the means. Determining the morality or ethics of every decision relies upon the resulting outcome instead of any other factor involved. In Defense of a Utilitarian Business Ethic ANDREW GUSTAFSON ABSTRACT In this article, I suggest and support a utilitarian approach to business ethics. Utilitarianism is already widely used as a business ethic approach, although it is not well developed in the literature.