Name: Assignment Ethics

Faculty: Shaikh Ghazi

Course: Business Ethics and Social Responsibility
Date issued: 16th March, 2022
Deadline for submission: 21st March 2022
Name of Student: Muhammad Ammar Zahid

Ethical Theory : Overview

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. It is common in
discussions of business ethics to appeal to one or more ethical
theories in an attempt to clarify what it is right or wrong to do in
particular situations.

History Of Ethical Theory

The present discussion will be limited to the history of
philosophical or "meta" ethics, for two reasons. First, because it
is impossible to cover, with any degree of thoroughness, the
history of ethics in either of the first two senses. Practices and
the codification of practices are the threads out of which all of
human culture is woven, so that the history of ethics in either of
these senses would be far too vast a subject for a brief essay.
Second, although ethical philosophy is often understood in a
broad way as including all significant thought about human
conduct, it can well be confined within manageable limits by
separating purely philosophical thought from the practical
advice, moral preaching, and social engineering that it
illuminates and from which it receives sustenance. This
distinction, while somewhat artificial, makes sense of the
common opinion that philosophy in general, and ethical
philosophy in particular, was invented by the Greeks.

Evolution Of Ethical Theory

The first full development of evolutionary ethics came from

Charles Darwin (1809–1882) and Herbert Spencer (1820–1903)
in the nineteenth century. At the beginning of the twentieth
century, the Darwinian theory of ethics was renewed and
deepened by Edward Westermarck (1862–1939). At the end of
the twentieth century, this Darwinian tradition of ethical
philosophy was reformulated by Edward O. Wilson, Robert
McShea, Frans de Waal, and others.

The three main business ethics theories are deontological theory,

teleological theory, utilitarianism, and norm theory. One of the largest
influences of modern business ethical principles is Kantian theory, which is
a type of norm theory. The majority of professional ethics are based on
doing what is best for the group. But here we will disscuss about

DEONTOLOGICAL THEORY:
Deontology is an ethical theory that uses rules to distinguish right from
wrong. Deontology is often associated with philosopher Immanuel
Kant. Kant believed that ethical actions follow universal moral laws,
such as “Don’t lie. Don’t steal. Don’t cheat.”
Deontology is simple to apply. It just requires that people follow the
rules and do their duty. This approach tends to fit well with our natural
intuition about what is or isn’t ethical.
Unlike consequentialism, which judges actions by their results,
deontology doesn’t require weighing the costs and benefits of a
situation. This avoids subjectivity and uncertainty because you only
have to follow set rules.
Despite its strengths, rigidly following deontology can produce results
that many people find unacceptable. For example, suppose you’re a
software engineer and learn that a nuclear missile is about to launch
that might start a war. You can hack the network and cancel the launch,
but it’s against your professional code of ethics to break into any
software system without permission. And, it’s a form of lying and
cheating. Deontology advises not to violate this rule. However, in
letting the missile launch, thousands of people will die.

TELEOLOGICAL THEORY:
The Teleological Ethical Theories are concerned with the consequences of
actions which means the basic standards for our actions being morally right or
wrong depends on the good or evil generated.

Types Of Teleological Theories:

Ethical Egoism: The ethical egoism is a teleological theory that posits, an
action is good if it produces or is likely to produce results that maximize the
person’s self-interest as defined by him, even at the expense of others. It is
based on the notion that it is always moral to promote one’s own good, but at
times avoiding the personal interest could be a moral action too.
Utilitarianism: The Utilitarianism theory holds that an action is good if it
results in maximum satisfaction for a large number of people who are
likely to get affected by the action.

Eudaimonism: Eudaimonism is a teleological theory which posits, that an

action is good if it results in the fulfillment of goals along with the welfare
of the human beings.

Thus, a moral theory that maintains that the rightness or wrongness of actions
solely depends on their consequences is called as a teleological theory.

Ethical Issues That Can Affect Business:

• Harassment and Discrimination in the Workplace. ...
• Health and Safety in the Workplace. ...
• Whistleblowing or Social Media Rants. ...
• Ethics in Accounting Practices. ...
• Nondisclosure and Corporate Espionage. ...
• Technology and Privacy Practices.

Stake Holders Interest:

Below are six common things stakeholders may have an interest in :

COSTS: Costs are how much money a business spends to operate.

Stakeholders who are interested in the cost of doing business are
typically investors and business leaders.
PROFITS: The profits of a business are often a primary interest for
investors and leaders. In addition, the profits of a business can
directly affect the employee, as they play a major role in the
health of an organization.
SOCIAL IMPACT: Social impact is the effect the business has on the
world or community around it.

EMPLOYEE HAPPINESS: Happiness is often a direct concern for

each employee. Most people want to work at a job they enjoy and
where they feel valued.

HEALTH AND SAFETY: Another common interest of employees is

the health and safety of their work environment. They want to
work in an environment where there is little to no risk of injury.

JOB SECURITY: Job security is a direct concern of employees and

their families. If a business makes a decision that affects the long-
term job security of a position, this can directly affect that
employee and their family's financial stability.

SUMMARY:
Lets see some point of views of….

ARISTOTLE: Aristotle emphasized that virtue is practical, and that the purpose of ethics
is to become good, not merely to know. Aristotle also claims that the right course of action
depends upon the details of a particular situation, rather than being generated merely by
applying a law.

KANT: German philosopher Immanuel Kant that is based on the notion that: "It is impossible
to think of anything at all in the world, or indeed even beyond it, that could be considered
good without limitation except a good will."
STUART MILL: Stuart Mill goal is to justify the utilitarian principle as the foundation of
morals. This principle says actions are right in proportion as they tend to promote overall
human happiness.