Ethics in
Business and
the Christian
Life
Night 5
Tuesday May 26, 2015
What is Ethics?
A branch of philosophy dealing with what is
good and bad and with moral duty and
obligation.
The principles of moral conduct governing an
individual or group.
Ethics refers to right and wrong conduct of
individuals and institutions of which they are
a part.
What is Business Ethics?
Comprises moral principles and standards that
guide behavior in the world of business.
– Businesses must make a profit in order to survive.
– Business profits should not be obtained by any means
necessary.
A trade-off must exist between the firm’s desire for
profits and what is good for individuals and
society.
What is Ethics?
– “…that behavior which is the ‘right’ thing to do, given the
circumstances”
– Four principles:
– Honesty
– Integrity
– Fairness
– Concern for others
Theory in Ethics
– Teleology
– Consequentialism
– Egoism
– Utilitarianism
– Deontology
– Relativism
Methods for Ethical Decision Making
Teleology
– Act is morally acceptable if it produces some
desired result.
– Form of consequentialism--morality of
decisions are based on their consequences.
Methods for Ethical Decision Making
Teleology
– Egoism--acts that benefit the individual’s selfinterest.
– Utilitarianism--acts that maximize total utility-the greatest good for the greatest number of
people.
Methods for Ethical Decision Making
Deontology
– The inherent rightness or wrongness of an act
guides behavior, regardless of the outcome.
– Believes that there are some things people
should never do.
Methods for Ethical Decision Making
Relativism
– The correctness of decisions is thought to
change over time.
– Uses others to judge the ethicality of decisions.
Absolutes or
Relatives
Five Common Ethical Traps
– The False-Necessity Trap
– The Doctrine-of-Relative-Filth Trap
– The Rationalization Trap
– The Self-Deception Trap
– The Ends-Justify-the-Means Trap
Tools for Doing the Right Thing
– Is the action you are considering legal?
– How would you see the problem if you were on
the opposite side?
– What are alternate solutions?
– Can you discuss the problem with someone whose
advice you trust?
– How would you feel if your family, friends,
employer, or coworkers learned of your actions?