COURSE: BUS 4070 –BUSINESS VALUES AND ETHICS

Instructor: Dr. Eric Kibet

Name: Grace Atte ID number:661522

Question: Explain various theories of ethics and explain how we can determine the right thing
to do on the basis of each (A. Consequentialism or teleological- Utilitarianism, altruism and
ethical egoism, B. Deontologicalism.
As we already know ethics refers to the analysis of matters of right or wrong. Therefore,
several theories have been raised in attempt to have a clear understanding of the topic. There
are as follows:
A- Consequentialism or teleological: It is an ethical school of thought that say the best
actions are the ones that produce the best results. In other words, this theory says
whether something is good or bad depends on its outcomes. Consequentialism is
sometimes criticized because it can be difficult, or even impossible, to know what the
result of an action will be ahead of time.

 Utilitarianism: It is the most well-known version of the consequentialist theory.

According to philosopher Jeremey Bentham it is useful to society to achieve” the
greatest good for the greatest number” of people who may be affected by an action.
For example, if killing one person could result to saving the lives of ten others, killing
in in that case is ethical.

 Altruism: It means acting in the best interest of others rather than in one’s own self-
interest. People have an obligation to help others. For instance, taking time to give
directions to a stranger who has lost his way, Give your seat to an elderly person in
public transport

 Ethical egoism: believes that actions whose consequences will benefit the doer can be
considered ethical. It is ethical to pursue one-self-interest. For example, if robbing a
someone allows you to pay your bill and you are convinced that you will not get
caught, doing so it’s considered ethical.
B- Deontologicalism: ’Study of duty’ ’Focused on duties and rules. According to
philosopher Immanuel Kant people can be moral through dutiful actions. In other
words, to make ethical decisions people have to follow rules such as: ’Don’t lie ‘’,
‘’Don’t steal’’, ‘’Don’t cheat’’ despite the consequences.

For example: Let’s say your parents are involved in the production and selling of
marijuana, according to Kant the right to do would be to denounce them to the police
although it might cause your parents to go to prison.