Business Ethics Chapter 1 Saq

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AIMST UNIVERSITY

BUSINESS ETHICS

Chapter 1 (Individual)

NAME: LIM EU JIN (1000121)

INTAKE: BATCH 8

SEMESTER: YEAR 2 SEMESTER 1

PROGRAMME: BSc. BUSINESS & MARKETING

LECTURER: MR. R. RAVINDRAN

BUSINESS ETHICS(CHAPTER 1)
Short Answer Questions
TELEOLOGICAL FRAMEWORKS

1. Compare and contrast the Ethical Egoism and Utilitarianism frameworks. Ethical Egoism, from the viewpoint of a business entity, maintains that companies should act strictly in line with their own interest. While this sounds like the direction that companies currently take anyway, pure pursuit of Ethical Egoism opens up a host of problems that deserve discussion. For example, under pure Ethical Egoism, companies would essentially disregard product safety, ethical business practices good corporate citizenship, environmental respect and the like, as the pursuit of profit, market share, or any other strategic goal would be the only concern. Utilitarianism, in contrast to Ethical Egoism, from a business ethics standpoint, would be defined as the ultimate pursuit of whatever it is that the goal of a given business might be, ranging from maximum profitability to largest possible market share to industry award. Overall, the main consideration is not the ethical, legal or moral consequences of the strategies and tactics undertaken by the company in question, but is the end result-whatever is gained in the process. Along these same lines, the utility of a business activity can be evaluated in terms of the benefit it provides versus the damage that it can cause to others along the way. 2. Is Sidgwick’s Dualism really a middle ground between Ethical Egoism and Utilitarianism. Sidgwick’s Dualism of the practical reason is the idea that since egoism and utilitarianism aim both to have rational supremacy in our practical decisions, whenever they conflict there is no stronger reason to follow the dictates of either view. The dualism leaves us with a practical problem: in conflict cases, we cannot be guided by practical reason to decide what all things considered we ought to do. There is an epistemic problem as well: the conflict of egoism and utilitarianism shows that they cannot be both self-evident principles. Only the existence of a just God could, for Sidgwick, prevent the conflict and thus solve the dualism.

DEONTOLOGICAL FRAMEWORKS

3. Compare and contrast the Existentialism and Contractarianism framework. Existentialism is the philosophical and cultural movement which holds that the starting point of philosophical thinking must be the experiences of the individual. Moral and scientific thinking together do not suffice to understand human existence, so a further set of categories, governed by a norm of "authenticity", is necessary to understand human existence. Authenticity, in the context of existentialism, is being true to one's own personality, spirit or character. Contractarianism names both a political theory of the legitimacy of political authority and a moral theory about the origin or legitimate content of moral norms. The political theory of authority claims that legitimate authority of government must derive from the consent of the governed, where the form and content of this consent derives from the idea of contract or mutual agreement. The moral theory of contractarianism claims that moral norms derive their normative force from the idea of contract or mutual agreement. Contractarians are skeptical of the possibility of grounding morality or political authority in either divine will or some perfectionist ideal of the nature of humanity. 4. Is Kant’s Ethics really a middle ground between Existentialism and Contractarianism. Kant’s Ethics is not a middle ground between Existentialism and Contractarianism because it is one of the three dominant deontological frameworks. Kant’s Ethics stands alone in this. Immanuel Kant discussed ethical decisions based on the free will of the individual. Kant argued that...
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