Ethics Ethical Theories, Utilitarianism, And Virtue Ethics

Business ethics assist companies to make ethical decisions. Whether they be large strategic decisions or small internal problems, ethical theories help business make the right decision in a situation. There are three major ethical theories we’ve examined, Utilitarianism, Deontology, and Virtue Ethics. This essay will address two of the three major ethical theories, Utilitarianism and Deontology. Utilitarianism applied to business is the ethical approach that focuses on the consequences. In dealing with consequences utilitarianism looks at the risk versus reward or pleasure versus pain. Thus striving to create the most amount of reward or pleasure for the most amounts of people. Utilitarianism is technically a sub class of consequentialism, along with Ethical Egoism. Both ethical egoism and utilitarianism view the right action as one that produces the most intrinsic good, the best outcome. Where the two diverge is when it comes to who is receiving the intrinsic good. In Ethical Egoism the agent is the one who is concerned with getting the most intrinsic good, while utilitarianism is looking at everyone affected. (Frederick source) When deciding to act, the utilitarian will first find out all courses of action they could take. Then they would consider all who would be affected by the course of action, including the decision maker (if affected). After determining who will be affected, how they will be affected should be taken into account those persons will be affected as aShow MoreRelatedThe Ethics Of Virtue Ethics925 Words   |  4 PagesVirtue ethics is a normative theory whose foundations were laid by Aristotle. This theory approaches normative ethics in substantially different ways than consequentialist and deontological theories. In this essay, I will contrast and compare virtue ethics to utilitarianism, ethical egoism, and Kantianism to demonstrate these differences. There is one fundamental aspect of virtue ethics that sets it apart from the other theories I will discuss. For the sake of brevity and to avoid redundancy, I willRead MoreThe Similarities and Differences Between Different Ethical Theories65 1 Words   |  3 PagesDifferences in Ethics: The main aim of any ethical theory is to do what is right and good since it involves moral rules or acting based on specific ethical values. In certain cases, the right and good as well as the ethical rules and values are sometimes common to various ethical theories. Even though ethical theories have different reasons for application, there is an overlap in these theories that result in similar conduct in an ethical situation. There are various ethical theories with differencesRead MoreEssay about Eth 316 Week 1764 Words   |  4 PagesIntroduction Utilitarianism, deontological, and virtue theory ethics are three normative approaches to ethics. This paper will go over the similarities and differences between virtue theory, utilitarianism, and deontological principles. It will include information of the variations in how each concept details ethics, morality, and it will also discuss a personal experience to describe the correlation between virtue, values, and moral perceptions as they relate to one of the three theories. SimilaritiesRead MoreComparing Political Philosophy Theories1095 Words   |  5 PagesAssociate Level Material Ethical Theory Comparison Chart Respond to the prompt for each of the five ethical theories listed. One section on each chart has been filled in as an example. What is good? (1–2 sentences) Aristotle – Virtue EthicsMill – UtilitarianismKant – DeontologyConsequentialismNodding – Care Ethicswhat would you say is our principal or highest objective by nature? According to Aristotle, it is the attainment of happiness, for it is that alone that we seekRead Moreethics Essay840 Words   |  4 Pages Samantha St.Upery Ethics Essay ETH/316 August 7, 2014 Mrs. Mona Ristovv Ethics Essay Utilitarianism ethics accentuates that the activity that should be ethically beneficial to the group. In further terms, the outcome of any moral activity ought to be valuable for all by mass offer. This is a universal fundamental theme for ethics in industrialist economies and business as well as in all governments. Virtue Theory is also known as virtue ethics focal point on the person’s characterRead MoreBusinesses Are Completely Incompatible With Virtue Ethics Essay examples1010 Words   |  5 Pagesï » ¿Businesses are completely incompatible with virtue ethics. Discuss. Business ethics is concerned with how well a business treats its stakeholders and whether a business’s actions are seen as ethical. Within business ethics there are three approaches which could be adopted. The first approach is that a business’s main goal could be to maximise profits and nothing more, where the ethics of the business wouldn’t necessarily be important. This view is supported by Milton Friedman. Secondly, some ethicistsRead MoreThe Ethical Theory Of Virtue Ethics1115 Words   |  5 Pagescriticisms of virtue ethics. First, virtue ethics is really complicated and multiple varieties of the theory of virtue ethics exist. Hence a single summary of VE cannot completely do justice to this theory and the complexity it encompasses. Second, as VE is attempted to be used on more specific cases and is tried to be made more concise, the theory tends to become more inaccurate. The article further suggests the needs for a more comprehensive and specific explana tion of virtue ethics. Although thereRead MoreUtilitarianism, Virtue And Care Ethics930 Words   |  4 PagesThe three ethical theories I will discuss from Chapter 1 include: utilitarianism, virtue and care ethics. First, the utilitarianism is moral standard and a theory of action by humans that are morally right in action. Utilitarianism is an action that is morally right if its consequences are more favorable. One way for businesses’, as our reading suggests (Fieser Moseley, 2012), is make a list of all the good and bad for any particular act. If the good outweighs the bad then that action shouldRead MoreThe Man Who Shocked The World1725 Words   |  7 Pagesday-with some agreeing with Milgram and many others opposing the very idea of conducting such an experiment with deception. The different ethical theories within the context of the moral dilemma that the case study provides that are going to be discussed in this paper are: Utilitarianism, Universal Ethics, Ethical Relativism and Virtue Ethics. Utilitarianism (according to the classical approach) argues that the ‘morally right action is the action that produces the most good’ (Driver, 2014). If understoodRead MoreEthic Theory and Practice1660 Words   |  7 Pagesfirst five chapters of Ethics Theory And Practice there are four main types of theories Ethical Egoism, Utilitarianism, Kantian Ethics, and Virtue Ethics. I will be presenting and reacting to each of these different Ethics, and presenting my own approach to Ethics. In the second chapter of our book Ethics Theory And Practice It discuses ethical egoism and utilitarianism. Ethical Egoism is a theory that states that everyone should act in their own self interest. Ethical Egoism can take three