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What is Ethics??
The word ethics is derived from Latin word ethicus and Greek word ethikos. Ethics are moral guidelines which govern good behaviour So behaving ethically is doing what is morally right A system of moral principles Our Ethical compass
Concepts of Ethics
Ethical subjectivism the morally correct decision often depends on the circumstances of a person making it.
Ethical relativism there is no universal set of principles by which to judge morality. Consequentialism it consists of two ideas:
the concept of value maximization of value.
Business ethics
Ethical problems in business:
Overt problems transparent Covert problems - complex
An ideal ethical decision comprises of the following virtues: Right morally correct Equitable- just and equal Good- highest good for all concerned Proper appropriate and acceptable Fair honesty Just action
Ethical theories
Metaethics Normative ethics
Teleological ethical theory Deontological ethical theory Virtue ethics
Applied ethics
Ethical theories
Metaethics
it deals with the gamut of ethical issues. It is defined as the study of the origin and meaning of ethical concepts. It questions whether the moral values exist independently of humans or they are simply human conventions Psychological issues that deal with psychological basis of the moral action Linguistic issue that deal with the meaning of key moral terms we use. Axe even angels will fall !!!
Ethical theories
Normative ethics
It implies something that guides or controls It guides human conduct. We should treat others the same way we want others to treat us.
Prescriptive Universal Overriding Public Practical
Johnson and Johnson credo says, "We believe our primary responsibility is to the doctors, nurses and patients, mothers and all others who use our products and services
Tata credo says 'give back to the people what you have earned from them'. Wal-Mart, established the Three Basic Beliefs as the company's credo: - Respect for the Individual - Service to our Customers - Strive for Excellence