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This paper summarizes each of ethical approaches, especially the Grand Principles, Nash’s Covenantal Business Ethic, Damon’s Four Dimensions of Business Morality, and Hill’s (2008) Christian Ethic for Business. Also, this paper critiques each of them through analyzing the strengths and weaknesses of approaches. Finally, the most favor approach is provided at the end. The Grand Principles which are called the prescriptive approach are provided by some philosophers such as Kant and Aristotle. The Grand Principles include Consequentialist Theories, Deontological Theories, and Aristotle’s Virtue Ethics. Firstly, Consequentialist Theories emphasize that the consequences of an action. If the consequences are good, the action is good while if the consequences are bad, the action is bad. A popular form of consequentialism is utilitarianism which means that the proper course of action is the one that maximizes overall "happiness". The other form of consequentialism is negative utilitarianism which means when actions are right in proportion to their tendency to minimize harm. Secondly, Deontological Theories does not focus on the results of an action, but focus on duties, obligations and principles. For example, the Golden rule, the second great commandment, and the categorical imperative. Thirdly, Aristotle’s virtue theory which is one of prescriptive approaches focus on the integrity of the moral actor. One of strengths of prescriptive approach is that the theories are illustrated by philosophers. It is clear to see the words or sentences. For example, the words were recorded in Bible: “Love your neighbor as yourself”. This sentence is simple and clear to show the key idea that how people treat their neighbors. In addition, in his article, Aristotle shows that “Do back to other people what they do to you”. Aristotle shows that ideas...
References: Damon, W. (2004). The moral advantage: How to succeed in business by doing the right thing. San Francisco, CA: Berrett-Koehler Publishers.
Hill, A. (2008). Just Business: Christian ethics for the marketplace (2nd ed.). Downers Grove, IL: InterVarsity.
Nash, L. (1993). Good Intentions Aside: A manager’s guide to resolving ethical problems. Harvard business school press. P. 19, Garden City, NY: Doubleday
Northouse, P. G. (2013). Leadership: Theory and practice. (6th ed.). Thousand Oaks, CA: Sage.
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