Business Management 1 (BEC121E) Assignment 1 Business Ethics For Juliet Puchert By: Mr. KUDZAI MACDONALD MANDIZVIDZA 201105404 Tut Group: W10 Contents INTRODUCTION 3 Business ethics concept 3 IMPORTANCE OF BUSINESS ETHICS 4 Reputation 4usiness ethics Investors’ confidence 4 Financial performance 5 Consumers 5 ETHICAL ISSUES 5 The community 5 Employees 5 Customers 6 Suppliers 6 Managers 7 BASIC BUSINESS ETHICS THEORIES 7 Stockholders’ theory 7 Stakeholder’s
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Virtues in Engineering William F. May said of the expert: “He had better be virtuous. Few may be in a position to discredit him. The knowledge explosion is also an ignorance explosion; if knowledge is power‚ then ignorance is powerlessness” (Harris 30). In the context of engineering‚ this places engineers in a very special position. Because of this power‚ which few may ever possess‚ it becomes necessary for engineers to be virtuous or posses certain attributes for the welfare of the public
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Patience is a Virtue Are you an impatience person? A person that complains a lot that all the things you want are done instantly. Or a person that would like to use every second of his/her time wisely. Here explains why patience is a virtue and why we should have patience. The phrase “patience is a virtue” is just a way of expressing the importance of being patient. A virtue is a trait or quality deemed to be morally excellent and thus is valued as a foundation of principle and good moral being
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Deontological theories identify various duties and rights. Duties and obligations have been classified under several categories and they include duties to God‚ oneself and others. Those others include family‚ social and political duties. Basic rights including life‚ liberty and the pursuit of happiness are considered to be natural‚ universal‚ equal‚ and inalienable. The focus of deontological theories is on moral duties or obligations rather than on moral value or goodness. Intentions play a significant
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Jeremy Bentham’s Utilitarianism Utilitarianism is one of the most powerful and persuasive approaches to normative ethics in the history of philosophy. Though not fully articulated until the 19th century‚ proto-utilitarian positions can be discerned throughout the history of ethical theory. Though there are many varieties of the view discussed‚ utilitarianism is generally held to be the view that the morally right action is the action that produces the most good. There are
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that the evidence produced and discussed at length within the thesis provides abundant evidence for strong similarities in Aristotle and Confucius’s outlooks concerning ethics. Emerging from the point that both of their works can be classified as examples of virtue ethics and building upon the numerous areas of convergence between them too it is clear that both Aristotelian and Confucian virtue ethics can be discussed in terms with each other and are not exclusionary of the ideas or concepts‚ nor the
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Virtues and Vices From http://www.therealpresence.org/essentials/commandments/acc23.htm Experience tells us that we develop moral habits according to our fidelity to the voice of conscience. There is an iron law in the formation of habits. Apart from the supernatural action of divine grace‚ we can acquire good moral habits‚ called virtues‚ as we can acquire bad moral habits or vices. The law which underlines all formation of habit says that every thought tends to become a desire‚ every desire
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The Virtue of Forgiveness Under the circumstances‚ the human may rush in making his decisions‚ so the consequences will be more negative than the actions resulting from these decisions‚ so it will be better if he does not make these decisions. It’s important for man to pardon so he can cope up with the milieu he is living; We stop here to mention some features of the Prophets (blessing and peace be upon him) forgiveness in his dealing with people. These are useful and great lessons in every place
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Stuart Mill’s ethical theory of Utilitarianism. Mill held two theories on utilitarianism‚ a normative and a psychological one. Normative views of Mills’ include his "principle of utility" which says actions are right if they produce the greatest amount of happiness and pleasure and wrong if they cause displeasure and pain. His psychological theory says people want to live in harmony with their fellow man and that they have a basic sensitivity to the needs of others. Utilitarianism is interested in promoting
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Describe the similarities and differences between the ERG Theory and Maslow’s Hierarchy. How have you used either of the two theories in daily life? Respond to at least two of your peers for this posting. Maslow’s Hierarchy is a need-based system. He believed that there was a hierarchy of need and an individual would remain at his current level until that particular need was satisfied. If the current need is not met‚ then the individual would not advance to the next stage. The five stages
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