Overview of Ethical Theories in Business Administration
Ethical theories play a crucial role in guiding ethical behavior within business administration. This content delves into different ethical theories such as Utilitarianism, Deontology, Virtue, and Relativism, providing insights into their principles and applications in decision-making processes.
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Libyan International Medical University Faculty of Business Administration Ethical Theories Name: Salim Alshuhoomi ID: 2708 EMAIL: Salim_2708@limu.edy.ly 1
CONTENT CONTENT DEFINITION OF ETHICAL THEORIES TYPE OF ETHICAL THEORIES CONCLUSION REFERENCES 2
ETHICAL ETHICAL THEORIES THEORIES Ethical Theories are attempts to provide a clear unified account of what our ethical obligations are. They are attempts, in other words, to tell a single story about what we are obligated to do, without referring directly to specific examples 3
Type of ethical Theories Type of ethical Theories Utilitarianism Deontology Virtue Relativism 4
Utilitarianism Utilitarianism It is a moral theory that states that the best behavior a person can do is that which brings him the most benefit. 5
Utilitarianism Utilitarianism For example, Sarah walks into a hostage situation. There are 20 hostages and she is told that if she shots one hostage, she will save the lives of the other 19. Utilitarianism would support Sarah killing of one of the hostages because the other 19 lives are a greater benefit, regardless of the fact that the cost would be one person's life. 6
Deontology Deontology is a theory that suggests actions are good or bad according to a clear set of rules. Its name comes from the Greek word deon, meaning duty. Actions that obey these rules are ethical, while actions that do not, are not. This ethical theory is most closely associated with German philosopher, Immanuel Kant. 7
Virtue Virtue Virtues are attitudes, dispositions, or character traits that enable us to be and to act in ways that develop this potential. They enable us to pursue the ideals we have adopted. Honesty, courage, compassion, generosity, fidelity, integrity, fairness, self-control, and prudence are all examples of virtues. 8
Relativism Relativism You might believe that truth and morality are different between cultures without believing that they are subjective. For example, a relativist would have to agree that eating beef is wrong in India, but they could disagree that it is okay for me to eat dogs just because it's right to me. 9
C Conclusion onclusion The purpose of ethical theories is to put in place a system of principles individuals use to make moral choices and to justify those choices. 10
R References eferences Jorgensen, A. S. (2019, May 17). The Difference Between Ethical Egoism & Ethical https://www.theclassroom.com/difference-ethical-egoism-ethical-subjectivism-8732283.html Subjectivism. The Classroom | Empowering Students in Their College Journey. https://www.theclassroom.com/difference-ethical-egoism-ethical-subjectivism-8732283.html Hamilton, V. (2019, January 10). Types of Ethical Theories. The Classroom | Empowering https://www.theclassroom.com/types-of-ethical-theories-12083413.html https://www.theclassroom.com/types-of-ethical-theories-12083413.html Students in Their College Journey. https://www.theclassroom.com/types-of-ethical-theories- 12083413.html 11
