universalism theory in business ethics

136 0 obj Subsequently, some common factors and discrepancies between the two theories will be discussed. endobj When we present the specifics and facts of a situation, this and the other principles begin to make sense, although judgement is still required. X. Xenofeminism. Obvious limitations of relativism include following ones blind spots or self-interests that can interfere with facts and reality. | then you must include on every digital page view the following attribution: Use the information below to generate a citation. Discuss need of Value education. This principle is related to universalism. But employees are human beings first, which means any attempt to improve their welfare must begin by thinking of them as human beings rather than as employees. 0000001898 00000 n About (2) Is it right? endobj WebView CONCEPTS & THEORIES OF BUSINESS ETHICS.ppt from MBA 2 at School of Law, Christ University, Bangalore. Corruption can be defeated only by individuals acting in accordance with their conscience and being supported by systems and corporate culture that encourage such action. Virtue ethics is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. 135 0 obj e d u / j v b l / v o l 8 / i s s 2 / 3)/Rect[128.1963 131.7406 312.7275 143.4594]/StructParent 7/Subtype/Link/Type/Annot>> endobj in the circumstance that telling the truth leads to death, objectivism could require we lie 0000009193 00000 n This does not deny the need for profit and financial success. This means we must hold ourselvesand one anotheraccountable to our values and to creating an open and inclusive workplace. As some have asked, What is a human life worth?. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . (3) Who gets hurt? One alternative is to put the humanities into business. Some of the principles presented here date back to Plato, Socrates, and even earlier to ancient religious groups. They abdicate personal responsibility by assigning blame elsewhere. Or it may be identified with various claims to identify a single fundamental universal principle, from which all other ethical principles and judgments derive. 133 0 obj WebBusiness ethics exists on three levels: the individual, the organizational, and the societal. Vol. Ethical relativism is really not a principle to be followed or modeled. Business 148 Study Guide. Theories of Business Ethics. Corporations and Politics: After Citizens United, 14. Following a review of normative research on corporate codes of ethics, a set of universal moral values is generated by considering three sources: (1) corporate codes of ethics; (2) global codes of ethics; and (3) the business ethics literature. Based on the convergence of the three sources of standards, six universal moral values for corporate codes of ethics are proposed including: (1) trustworthiness; (2) respect; (3) responsibility; (4) fairness; (5) caring; and (6) citizenship. For example, the following precautionary actions might have prevented the disaster: updating the equipment and machinery that failed in the BP and the Exxon Valdez oil crises and investment banks and lending institutions following rules not to sell subprime mortgages that could not and would not be paid, actions that led to the near collapse of the global economy. One distinctive understanding of universalism in ethics is that ethical principles are principles for everybody. Accommodating Different Abilities and Faiths, 29. 0000003198 00000 n : It is an orientation that many use quite frequently. A&P I Autonomic Bonus Activity. <>/Border[0 0 0]/Contents(scholar@valpo.edu)/Rect[350.833 72.3516 427.21 82.8984]/StructParent 8/Subtype/Link/Type/Annot>> The Concept of Ethical Business in Ancient Athens, Ethical Advice for Nobles and Civil Servants in Ancient China, Comparing the Virtue Ethics of East and West, Utilitarianism: The Greatest Good for the Greatest Number, Ethical Decision-Making and Prioritizing Stakeholders, Three Special Stakeholders: Society, the Environment, and Government, Corporate Law and Corporate Responsibility, Sustainability: Business and the Environment, The Impact of Culture and Time on Business Ethics, The Relationship between Business Ethics and Culture, The Workplace Environment and Working Conditions, Contributing to a Positive Work Atmosphere, Criticism of the Company and Whistleblowing, Recognizing and Respecting the Rights of All, Accommodating Different Abilities and Faiths, Animal Rights and the Implications for Business, Ethical Issues in the Provision of Health Care, Changing Work Environments and Future Trends, Alternatives to Traditional Patterns of Work, Robotics, Artificial Intelligence, and the Workplace of the Future, Business Ethics in an Evolving Environment, Making a Difference in the Business World, Profiles in Business Ethics: Contemporary Thought Leaders, The pursuit of happiness is as near a universal human trait as we can find. To get a sense of individual rights in the workplace, log on to one of the Best Companies to Work For annual lists (http://fortune.com/best-companies/). From these systems has emerged a basic set of ethical norms for the business world. Altruism is also part of character-based virtue ethics. WebUniversalism in Ethics. In the case of LIBOR, the United Kingdoms Serious Fraud Office determined there were inadequate systems of oversight in the setting of rates and that individual executives encouraged rate fixing, which led to the conviction of several traders, at least one of whom still maintains his innocence.33 1. Cooper, Santora, and Sarros wrote, Universalism is the outward expression of leadership character and is made manifest by respectfulness for others, fairness, cooperativeness, compassion, spiritual respect, and humility. Corporate leaders in the Worlds Most Ethical Companies strive to set a tone at the top to exemplify and embody universal principles in their business practices. <>/Metadata 127 0 R/Outlines 88 0 R/Pages 124 0 R/StructTreeRoot 93 0 R/Type/Catalog/ViewerPreferences<>>> Many companies in the United States, Europe, and elsewhere were pressured in the 1980s and before by public interest groups whether or not to continue doing business or leave South Africa. WebKeywords: universalism, utilitarianism, punctuated equilibrium 1. Limitations here also show that using this principle may not always prove realistic or practical in all situations. The following section discusses how ethical leadership at the top and throughout organizations affects ethical actions and behaviors.21. The first view uses universality to distinguish the moral from non-moral. After all, literature that has stood the test of time can provide tremendous insight into human behavior, and Homer or Shakespeare may be more relevant to contemporary executive leadership than a business seminar on how to motivate employees. Someones principle is a moral principle if he or she is willing to universalize it and if not it is then the other way round. Arguments Against Business Ethics In a free market economy, the pursuit of profit will ensure maximum social benefit so business ethics is not needed. A managers most important obligation is loyalty to the company regardless of ethics. So long as companies obey the law they will do all that ethics requires. endobj Although Universalism has appeared at various times in Christian history, most notably in the works of Origen of 140 0 obj In the conclusive section, some suggestions and recommendations are presented. are licensed under a. Some limitations when using this principle are (1) it can be used to disguise and manipulate selfish and unjust political interests, (2) it is difficult to determine who deserves what when both parties are right, and (3) individuals can exaggerate certain entitlements at the expense of others. Freeman's stakeholder theory, on the other hand, is seen as being on the other end of the continuum, arguing for selflessnessanother misinterpretation, as I argue with Ed Freeman's help. Types of Business EthicsPersonal responsibility. Each person who works for a business, whether on the executive level or the entry-level, will be expected to show personal responsibility.Corporate responsibility. Businesses have responsibilities to their employees, their clients or customers, and, in some cases, to their board of directors.Loyalty. Respect. Trustworthiness. More items Can business ethics provide one? Can being aware of the actual values you use to guide your actions make a difference in your choices? V. Value pluralism - Value theory - Vedanta - Verificationism - Verism - Vienna Circle - Virtue ethics - Vitalism - Voluntaryism. 137 0 obj Business What would that look like? Except where otherwise noted, textbooks on this site In the United States, companies spend more than $70 billion annually on ethics training; worldwide, the figure is more than double that.30 The 2017 conviction for bribery and embezzlement of Lee Jae-yong, heir to the Samsung electronics empire, was part of a widespread corruption scandal that brought down the president of South Korea. Attempt all questions in brief. Philosopher and historian Martin Buber (18781965) taught that love is not a feeling but a responsibility of one person for another. The society, on the other hand, perceives business ethics as the right or wrongs that occur as a result of organizations operating in the community. A Framework for Making Ethical Decisions, 11. Utilitarian ethics says, in general, that the most ethical course of action is the one that provides the greatest benefit to the most people. Followers of this principle can become absolutists and true believersmany times believing and following their own ideology and beliefs. 130 0 obj These principles can be, and are, used in combination; different principles are also used in different situations.18 The principles that we will cover are utilitarianism, universalism, rights/legal, justice, virtue, common good, and ethical relativism approaches. This principle, as with universalism, can always be used when individuals, groups, and nations are involved in decisions that may violate or harm such rights as life, liberty, the pursuit of happiness, and free speech. Some of the strengths and weaknesses that will be discussed for Universalism are consistency, intension basis, and universalizability, while some of the discussed strengths and weaknesses for Utilitarianism are flexibility, outcome-basis, and lack of consistency. 139 0 obj 3 Howard Schultz, founder of Starbucks; co-founder Jim Sinegal at Costco; Sheryl Sandberg, chief operating officer of Facebook; and Ursula M. Burns, previous chairperson and CEO of Xerox have demonstrated setting effective ethical tones at the top of organizations. Web4.4 business ethics theories 4.4.4 Deontology or universalism theory The proponents of the deontology theory are Immanuel Kant who emphasises that the ends do not justify the means of an action; the right thing must always be done even if doing the wrong thing would do the most good for the most people (Weiss, 2009:107). Attempt all Sections. *$nMY9s:SZC;>M:yREn\rDk~iG']rDn>v]1m7@u,sI>wQZVmb^emU(W y Q)\u58y.? However, middle managers and employees often complain their ethics training consists of passing a computerized sexual harassment or fraud program once a year but that nothing is done to address issues in a substantive way or to change the culture of the organization, even those that have experienced problems.31

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