Aug 3rd, 2016
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Hunter Business School
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Understanding ethical theories at the organisational level and their implications.

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ETHICAL THEORIES AND THEIR FUNCTIONSEthical theories provide a framework for judging right or wrong decisions. There are two typesof Ethical theoriesConsequentialistNon-consequentialistConsequentialist theories If the consequences are good, the action is right; if they are bad, theaction is wrong. There are two theories under this category: Egoism and UtilitarianismEgoism-The self and its needsUtilitarianism-overall happinessDeontology-dutyCare ethics-relationships, vulnerability, and empathyVirtue ethics charactera) Egoism:Egoism as an ethical theory. The view that equates morality with self- interest is referred to asegoism. An egoist contends that an act is morally right if and only if it best promotes hisinterests. Moral philosophers distinguish between two kinds of egoism: personal andimpersonal. Personal egoists claim they should pursue their own best interests, but they do not saywhat others should do. Impersonal egoists claim that everyone should let self-interest guide his or her conduct.b) Utilization theory: J.S Mill and Jeremy BenthamUtilitarianism tells us to bring about the most happiness for everyone affected by our actions.Jeremy Bentham and John Stuart Mill were very important early utilitarians.1John Stuart Mills EthicsAccording to him utilitarianism could be looked at from the following: The permissibility of actions is determined by examining their outcomes and comparin

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