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Which approach to ethics holds that the moral worth of actions or practices is determined by their consequences?

The utilitarian approaches to ethics hold that the moral worth of actions or practices is determined by their consequences.. It typically is fairly easy to measure the benefits, costs, and risks of a course of action. An advantage of utilitarianism is that the philosophy allows for the consideration of justice.

Which of the following 3 terms best describes the business situation in which none of the available alternatives seem 100% ethically acceptable?

Ethical dilemmas are situations in which none of the available alternatives seems ethically acceptable.

Where did business ethics come from?

The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx’s attack on capitalism.

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When was business ethics invented?

Norman Bowie dates the birth of business ethics as November 1974, with the first conference in business ethics, which was held at the University of Kansas, and which resulted in the first anthology used in the new courses that started popping up thereafter in business ethics.

What are the 3 principles of utilitarianism?

There are three principles that serve as the basic axioms of utilitarianism.

  • Pleasure or Happiness Is the Only Thing That Truly Has Intrinsic Value.
  • Actions Are Right Insofar as They Promote Happiness, Wrong Insofar as They Produce Unhappiness.
  • Everyone’s Happiness Counts Equally.

What is wrong with utilitarianism?

Perhaps the greatest difficulty with utilitarianism is that it fails to take into account considerations of justice. Given its insistence on summing the benefits and harms of all people, utilitarianism asks us to look beyond self-interest to consider impartially the interests of all persons affected by our actions.

What are the 3 A’s of business ethics?

There are three parts to the discipline of business ethics: personal (on a micro scale), professional (on an intermediate scale), and corporate (on a macro scale). All three are intricately related.

What are some ethical issues in business?

Types of Ethical Issues in Business

  • Discrimination. One of the biggest ethical issues affecting the business world in 2020 is discrimination.
  • Harassment.
  • Unethical Accounting.
  • Health and Safety.
  • Abuse of Leadership Authority.
  • Nepotism and Favoritism.
  • Privacy.
  • Corporate Espionage.

What are the 7 principles of ethics in business?

Business Ethics for Executives

  • Honesty.
  • Integrity.
  • Promise-Keeping & Trustworthiness.
  • Loyalty.
  • Fairness.
  • Concern for Others.
  • Respect for Others.
  • Law Abiding.
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Who is the father of business ethics?

Clarence Walton, PhD., “The Father of Business Ethics” Passes Away.

How many stages are there in the history of ethics?

And some discourse in moral philosophy is even more abstract. Philosophers divide ethics into into three different levels, which range from the very abstract to the concrete: metaethics, normative ethics, and applied ethics. Understanding these levels is a good step toward grasping the breadth of subject.

What was the first business in history?

Most companies today survive for about 15 years. Many of the longest-lasting businesses produce food items, alcohol, or even guns — things people have evidently been interested in for centuries. The oldest company in the world is a hotel called Nisiyama Onsen Keiunkan in Japan, which opened in 705.

What are the 7 ethical theories?

The normative ethical theories that are briefly covered in this chapter are:

  • Utilitarianism.
  • Deontology.
  • Virtue ethics.
  • Ethics of care.
  • Egoism.
  • Religion or divine command theory.
  • Natural Law.
  • Social contract theory.

Who was the founder of ethics?

1. Preliminaries. In the West, virtue ethics’ founding fathers are Plato and Aristotle, and in the East it can be traced back to Mencius and Confucius.

What is the history of a business?

Business history is a historiographical field which examines the history of firms, business methods, government regulation and the effects of business on society. It also includes biographies of individual firms, executives, and entrepreneurs. It is related to economic history.

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