1.1 Identify each of the stakeholders and how they are affected. What are the main harms and benefits in this case for the different stakeholders based on the current situation?
1.2 From a utilitarian perspective, would you argue for or against the proposed tightening of UK banking regulation?
1.3 Using arguments based on the ‘maxims’ of duty, would you consider the UK banks to have acted ethically in their operations?
1.4 What clashes of rights are involved in this situation? Is it possible to judge their relative importance? Whose rights matter most in this situation? (20 MARKS)
1.5 Select and apply two other normative theories to critically …show more content…
The perspective depends on first identifying what are appropriate ‘virtues’ in any context – these are often the ‘values’ identified in Codes of Conduct, and ‘Values’ Statements
The theory can be applied at an individual and an organisational level – often people who become ‘whistle-blowers’ find that their own personal values are in conflict with their organisation, and that to preserve their own character and integrity they are forced to become disloyal to an organisation, and to break an unwritten code of silence
b) Environmental ethics
This is of growing importance as the impacts of enterprise on environmental degradation of air, land and water is recognized. There are two main approaches:
i) the ‘polluter pays’ principle – this argues that use of natural resources should not be free to business, nor should the costs of cleaning up the environment be external to companies. It results in initiatives such as Carbon Trading
ii) a ‘biocentric’ view, known as ‘deep ecology’. This approach refuses to consider economic activity from just an ‘anthropomorphic’ standpoint, and sees human social systems as part of a wider bio-system with which they are interdependent, and on whom they are dependent for survival – business activity should leave no footprint.
Both approaches are similar in viewing the need for ‘sustainability’ as a key business objective.
c) Discourse ethics
This relies on building