Business Ethics Exam Answers
Nghi Le
PHIL 301
Professor Stieb
Midterm Exam, May 2, 2013
1/ What is ethics? What are some common ethical types? Why do business people need it? Can ethics be taught to people?
Ethics is a study of morality, stems from the ancient Greek “ethos” meaning custom or habit. It is a study of theories concerning what is good and evil in human conduct. There is no particular set of laws defining what is ethical and what is not, because there is no right or wrong answer. The second sense of ethics speak of “codes of ethics”, which are a set of rules serve as guidance to people, often in fields of professions such as business or medical. Ethical contrasts with unethical, which goes against the codes of ethics. There are several ethical theories in Western philosophy. Many of them look at the fruits of one’s action – categorized under Consequentialism, while other theories uphold one’s right and duty, which is Deontology.
Consequentialism pertains to cost and benefits. It deals with the results and consequences of performing or not performing an action. For example: If war brings more good (money, oil, labor) than bad (casualties) then it is ethical. Some consequentialist theories are utilitarianism and ethical egoism. Utilitarianism, according to Bentham and Mill, the right action is which creates the greatest good for the greatest number. People should ask what action would promote the greatest amount of happiness for people who are affected. For example: a utilitarian would say euthanasia is ethical if that would bring satisfaction to the suffering patient and financial relief to the family. Ethical egoism, according to Ayn Rand, says we should do what is purely in our best interest, as opposed to altruism. It promotes one’s well-being above others.
Meanwhile deontology pertains to rights, duties or obligations. It concerns the morality of the action that is being performed (or not performed) rather than the results deriving from said action. In Kantian deontology,
PHIL 301
Professor Stieb
Midterm Exam, May 2, 2013
1/ What is ethics? What are some common ethical types? Why do business people need it? Can ethics be taught to people?
Ethics is a study of morality, stems from the ancient Greek “ethos” meaning custom or habit. It is a study of theories concerning what is good and evil in human conduct. There is no particular set of laws defining what is ethical and what is not, because there is no right or wrong answer. The second sense of ethics speak of “codes of ethics”, which are a set of rules serve as guidance to people, often in fields of professions such as business or medical. Ethical contrasts with unethical, which goes against the codes of ethics. There are several ethical theories in Western philosophy. Many of them look at the fruits of one’s action – categorized under Consequentialism, while other theories uphold one’s right and duty, which is Deontology.
Consequentialism pertains to cost and benefits. It deals with the results and consequences of performing or not performing an action. For example: If war brings more good (money, oil, labor) than bad (casualties) then it is ethical. Some consequentialist theories are utilitarianism and ethical egoism. Utilitarianism, according to Bentham and Mill, the right action is which creates the greatest good for the greatest number. People should ask what action would promote the greatest amount of happiness for people who are affected. For example: a utilitarian would say euthanasia is ethical if that would bring satisfaction to the suffering patient and financial relief to the family. Ethical egoism, according to Ayn Rand, says we should do what is purely in our best interest, as opposed to altruism. It promotes one’s well-being above others.
Meanwhile deontology pertains to rights, duties or obligations. It concerns the morality of the action that is being performed (or not performed) rather than the results deriving from said action. In Kantian deontology,