What Are The Non Fundamental Theories Of Business Ethics

ETHICS

DEFINATION:

“The branch of axiology or knowledge that deals with the standards, moral values and acts of right or wrong is known as ethics.”

BUSINESS ETHICS:

“The branch of ethics which deals with the moral values of any business is known as business ethics.”

• In business ethics, there is a sense of responsibility which lies between the suppliers and the customers.

• In business ethics, we learn how to run an organization with the basic requirements and teachings of ethics.

• To run an organization a person must know how to respect others and how to take care of emotions of others.

VALUES OF ETHICS:

Ethics is basically related to our inner and outer personality. What basically are we from inside that shows how good we are. Being sophisticated

The ancient Greeks and the philosophers have explained different parts of utilitarian in their own ways. Utilitarianism is defined as the maximum balance produces by an action and then that maximum balance would decides that action was right or wrong whether it might hurt everyone and give happiness to one which is getting that maximum balance. So, this clearly states that the right action is that which gives good profit or benefit. There is no care of sentimental.

NON-CONSEQUENTIAL ETHICAL THEORY:

A non- consequential theory does not follow any consequences it just shows and proof that what is wrong or what is right. When an act is done if its intention and motive are good then it means the whole act is good regardless of the consequences. Non-consequential ethical theory is basically based on intrinsic values. In this approach, people don’t think about their future but they take care of other people emotions.

• Non-consequential theory is also known as Deontology.

• Deontology is the Greek word which means to study

If a person is lying to hide his some mistake then it is wrong to lie. Lying is something which is very bad and wrong. No one should lie for any reason.

CONSEQUENTIALISM:

Consequentialism is a theory which tells about the moral rightness, the moral values and the wrongness of an act. Consequentialism explains the good factors of acts and things.

CASE STUDY RELATED TO BUSINESS ETHICAL THEORY:

Daniel and Joseph are best friends and neighbour too. Daniel runs an organization which sold drugs. Joseph is drug addict. He asks Daniel to lend some of the drugs to him. Here is that point where their friendship truly calls. Drug addict is a bad thing. Daniel gave some of the drugs to Joseph and he also knows that this is absolutely a bad act which will cause harm to Joseph. But what can he do now? This is business. He has to run his business at any cost to earn maximum profit. Intentionally, he does not take care of his friend but he prefers his business more than his friend. This case study gives consequential ethical theory. Utilitarianism comes here. In business, we should prefer our intrinsic values but here extrinsic values are followed. This case study only highlights that a good act is that which gives maximum benefit and gives happiness of ours don’t others. This is called consequential ethical