Chapter 2 Review
Normative Theories of Business Ethics
This theory is divided in two parts- Consequentialist Theories and Nonconsequentialist theories. Consequentialist theories that determine the moral rightness or wrongness of an action based on the action’s consequences or results. Nornconsequentialist those that determine the moral rightness or wrongness of an action based on the action’s intrinsic features or character.
Consequentialist Theories is also further divided into two types, egoism-the view that morality coincides with the self-interest of an individual or an organization, and Egois who determine the moral value of an action based on the principle of personal advantage. Even acts of self-sacrifice are inherently self-regarding insofar as they are motivated by a conscious or unconscious concern with one’s own advantage. The Utilitarianism is the moral doctrine that we should act in ways that produce the most pleasure or happiness for the greatest number of people affected by our actions. Jeremy Bentham and John Stuart Mill used the utilitarian standard to evaluate and criticize the social and political institutions of their day. Although
Bentham and Mill had different conceptions of pleasure, both men equated pleasure and happiness and considered pleasure the ultimate value. Anything that is good is good only because it brings about pleasure directly or indirectly.
Nonconsequentialist Theories also called Kantian theory a German philosopher with non approach to ethics. He believed in good will and said the moral worth of an action is determined on the basis of its…