Role Of Egoism In Business Ethics

1.0 INTRODUCTION

Ethics is the study of right and wrong, duty and obligation, moral norms, individual character and responsibility. Ethic is also called as a system of moral principles. Ethics is derived from the Greece word called “ethos”. The meaning is character and manners. In other words, Ethics are more moral guideline which governs good behavior. Ethics is the means the branch of philosophy that focus on morality and the way in which moral principles are applied in everyday life. It involves an active process of applying values, which may range from religious principles to customs and traditions. In the ethics part, it has some basic questions such as what is fair, what is the right things need to do in the situation? Business ethics is the study and examination of moral and social responsibility

Those who determine the moral value of an action based on the principle of self-interest. If the action is morally right it is promoting one’s long term self -interest. However, if the action is wrong it is undermines the agent’s self-interest. Egoism is the theory that the morally right action is the one that produces the most favorable balance of good over for one self. We should limit our judgment to our own ethical egoism and not interfere with judgment of others. Egoism has three parts which is personal egoists, Psychological egoism and impersonal egoists. For the personal egoists is to pursue their own self-interest but do not make the universal claim that all individual should do the same things. Impersonal egoists are the claim that the pursuit of one’s self interest should motivate everyone behavior. Egoism does not necessary to care only about the pursuing pleasure or behave. It also cam assist others if doing so promotes their own advantages. Psychological egoism is the view that the motive for all our actions is self-