Foundations of the

Principles of
Business Ethics
 OBJECTIVES

Identify the classical philosophies and

their implications for business principles
and practices.

Compare and contrast classic philosophies

as they relate to business setting
Ethics or moral philosophy is a branch of philosophy that
"involves systematizing, defending, and recommending
concepts of right and wrong
behavior.
Ethics more with standards of conduct
isacceptabl concerned to a profession, or members of an
organization
e a group,
.
 Business ethics (also known as corporate ethics) is
a form of applied ethics or professional ethics, that examines
ethical principles and moral or ethical problems that can arise in
a business environment. It applies to all
aspects of business conduct and is relevant to the
conduct of individuals and entire organizations. As an applied
branch of General Ethics, it must be studied from the
perspective of Philosophy. This is because
Ethics is a part of moral principles.
 Classical
Philosophies
The philosophies of these Classical Philosophers have a
great implication on business and are the foundation of
the principles of the business ethics.
 He's known for his classic
Socrate philosophy, HAVE THE COURAGE
s TO known
He is best DISAGREE.
for the Socratic method
of question and answer. The Socratic
methods a way of thinking that allows
individuals to define their own purpose
for learning. In business, administrators
ought not to sleepwalk or basically oblige
the group.
Plat
THE POWER TO RULE. His prime belief
o
was that a person must study
themselves in order to find out their
level of character. He is acclaimed for
his choices regarding the matter of the
real world. In business, it is constantly
vital to know the qualities and
shortcomings of everybody.
 Aristotl
e
LET PEOPLE SEEK FULFILLMENT.
He was most practical
the
business orientedand
of all philosophers. In
business, the association must give and
condition that is conductive to human
development and satisfaction.
Confuciu The most famous of his golden rule: DO
s NOT DO UNTO OTHERS WHAT YOU
DO NOT WANT OTHERS DO UNTO
YOU, and his famous classic philosophy
is LIVE A CONTENTED, MORAL
AND
HAPPY LIFE. Confucian values can aid in
the creation of business leaders who are
true leaders of the society.
The ancient Greek historian and
educator, that humans are
understoo soci Plutarc
d incredibly who constantly al h
creatures,
around themobservethe
and imitate them. He is famouspeopl
in his
philosophy, BE A GOOD ROLE MODEL. e In
organisational terms, that means what you say to
your employees is less important than what you
do. They will watch how you behave, how you
treat others, how you cope with pressure and
whether you follow through on your promises.
And they will imitate you, they will follow your
lead.
Epicuru THE ART OF HAPPINESS. Epicurus was a fourth
centuryGreek philosopher who rathe
s taught,
scandalously, that theaim of life r
simply to be as happy as possible herewas
Earth. He warnedthat humans on are very bad
at
being happy, andvery good at
reasons to be inventing
Today, some
miserable.
compani are Epicuru
es embracing and teachs'
philosophy, thetrying
art ofto their
employees happiness.
 Immanuel
Kant
One of the most influential
philosophers in the history of Western
philosophy. He advances the theory
of deontology or deontological ethics,
the theory of duty and obligation.
Virtue
Ethics
The Ethics of Aristotle:
Virtue Theory
Virtue Theory doesn't judge actions as right or wrong but rather
the character of the person doing the actions. It put emphasis on
the development of human values and moral character. Instead of
trying to form specific rules for everyone to follow, it proposes to
build a virtuous character. In a sense, we all know what it means
to have a virtuous character, we all know who can be counted
upon
to do the right thing. In this classic theory,
virtue
virtues stand out, courage, moderation, four justice,
prudenc Virtues matter in management and and
e. finance.
The Ethics of Bentham and
Mill: Utilitarianism
Utilitarian ethical theories are based on one’s ability to
predict the consequences of an action. When making moral
decisions, we are advised to select that action which
produces amount
greatest the of good for the number of
greatest
people. If the balance of good happiness
or
usefulness or
outweighs that of evil, harm, or unhappiness, then
the choice is a moral one. Due to this emphasis on the
outcome of ethical decisions, utilitarianism is classified as a
consequentialist theory.
The Ethics of
Kant:
Deontology
The term deontology stems from the Greek deon—
obligation, or command. The deontological clas duty,
of
theories states that people should s ethical
adhere and duties when engaged in decision making
obligations to when
their
ethics are in play. Kant argued that there is more foundational
principle of duty. He call it categorical imperative, it simply
mandates an action, irrespective of one’s personal desires. For
Kant, we should treat people as an end, and never as a means to
an end. That is why we should alwaystreat people with
dignity, and use them as mere instruments.
never
The Ethics of John
Rawls: Justice
Theory
Rawls is a uniquely American political philosopher, and this
can be seen from his emphasis on political liberty. He
labeled his ethics to be “justice as fairness,” and he
developed it over nearly a lifetime. In Western thought,
Rights theories, a right refers to a person’s just claim or
entitlement. Justice theories define justice as the ideal,
morally correct state of things and persons.
THANK
YOU