• Theories Of Business Ethics Pdf

Chapter02.1.Copyright © 2012 Pearson Education, Inc. All rights reserved.Business EthicsConcepts & CasesManuel G. Velasquez.Copyright © 2012 Pearson Education, Inc. All rights reserved.Chapter TwoEthical Principles in Business.Copyright © 2012 Pearson Education, Inc.

All rights reserved.Utilitarianism. Actions and policies should be evaluated onthe basis of the benefits and costs they willimpose on society. The only morally right action in any situationis that whose utility is greatest by comparisonto the utility of all the other alternatives. Leading utilitarian theorists:– Jeremy Bentham– John Stuart Mill.Copyright © 2012 Pearson Education, Inc.

Theories Of Business Ethics Pdf

All rights reserved.How to Apply Utilitarian Principles. First, determine what alternative actions or policies areavailable to me in that situation. Second, for each alternative action, estimate the directand indirect benefits and costs that the action willprobably produce for all persons affected. Third, for each action, subtract the costs from thebenefits to determine the net utility of each action. Fourth, the action that produces the greatest sum totalof utility must be chosen as the ethically appropriatecourse of action.Copyright © 2012 Pearson Education, Inc.

All rights reserved.Criticisms of Utilitarianism. Critics say not all values can be measured.– Utilitarians respond that monetary or othercommonsense measures can measure everything. Critics say utilitarianism fails with rights andjustice.– Utilitarians respond that rule-utilitarianism candeal with rights and justice.Copyright © 2012 Pearson Education, Inc.