Unit 1:Ethics Flashcards
what is teleology
-Teleology is a group of moral philosophies in which an action is judged to be morally right if it produces a
desired result and thus it is focused on the consequences of the action.
-teleology is also referred to as consequentialism.
-Two important
teleological philosophies often used in business decision-making are egoism and utilitarianism.
-Egoism: is focused on the consequences for the individual. The egoist defines right or acceptable
behavior only in terms of its consequences for him- or herself. Egoists make decisions that maximize
their self-interest, Example: An example of an egoist is a fraudster who targets the elderly because they may be
more vulnerable and more easily persuaded—and they may have more money that they can be
relieved of—than younger persons would.
-Utilitarianism is also concerned with consequences, but the utilitarian seeks the greatest good
for the greatest number of people, rather than just the greatest good for him- or herself. Example: An example of a utilitarian decision is redesigning a defective product before distributing
it even though it is far along in production because the defect has been discovered to cause
injuries or deaths in users, potentially leading to lawsuits and recalls later that would be even
costlier than the redesign.
what is deontology
-Deontology focuses on the rights of individuals and is a system of ethics based on respect for all persons.
Deontologists maintain that some things should never be done.
-focus on action itself
-Referred to non-consequentialism
-According to deontology, an action can
be ethically correct even though it does not produce a net positive result for either the decision maker or for
society as a whole.
Example: If a company has an unsafe condition in its plant that could injure or even kill workers, a
deontological view would be that the plant must be modified and the condition corrected, even if the cost is
so great that the company is bankrupted and all the workers lose their jobs. In contrast, a utilitarian would
make a decision about whether or not to modify the plant on the basis of cost versus benefit.
-if an action is suitable to become a universal principle to guide everyone’s behavior,
then that action is ethical.
Relativism
A relativist defines ethical behavior subjectively, based on his or her own experiences and on those of other
individuals and groups.
To a relativist, what is right and what is wrong depends on the consensus of the group, and that can change.
Claim that no universal set of moral principles exists.
Decision is right if its based on within one’s own value belief.
Virtue ethics
Virtue ethics focuses on the moral character of the decision maker not the action itself nor the outcome
Example: A person with the virtue of “honesty” will be predisposed to tell the truth because it is the right
way to communicate with others.
justice
every individual should be given what he\she deserves
4 types:
Social justice: everybody deserves equal economic, social, and porlitical opportunities, irrespective of gender ,race, religion, etc
Distributive Justice: asset should be allocated equally within society
restorative justice: those who have suffered unfairly can seek to be made whole
retributive justice : those who have done wrong should be punished objectively and proportionally
