MGMT 518: Legal & Ethical Env. of Business BP’s ethical conduct concerning the Deep Horizon blowout Background: The Deepwater Horizon oil spill or the BP oil spill refers to the oil spill in the Gulf of Mexico which flowed for three months in 2010. The spill was a result of the explosion of Deepwater Horizon‚ which drilled on the BP-operated Macondo Prospect. The explosion killed 11 men working on the platform and injured 17 others (Summarized from Wikipedia article on: “Deepwater Horizon
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Utilitarianism is a theory of ethics that bases what is right and wrong solely on the outcomes of each outcome over another as well as taking into account the interests of others rather than one’s own interests (Caae.phil.cmu.edu‚ 2014)‚ another way to describe utilitarianism is to say that the consequences provide the greatest good for the greatest number. For Ted and Gwen‚ who are employees within Nick’s Patisserie‚ Ted is a homeless teenage and Gwen is a single mother whose only source of income
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Ethics and morality are often used interchangeably in colloquial modern English. Though there are several key distinctions between the two‚ one thing that unifies both concepts is the reliance on logical thought and reason from those who practice philosophy. From Socrates to Hobbes‚ the greatest philosophical minds have wrestled with the interplay of morality‚ ethics‚ and reason. This paper will examine this interplay within the paradigm of egoism. First‚ this paper will define the subsets of egoism
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Ethical Egoism is “the doctrine that each person ought to pursue his or her own self-interest exclusively” (Rachels 71). With Ethical Egoism‚ we ought to do what is in our own self-interest‚ instead of trying to do what is in. While we are exclusively pursuing our own interests‚ we can still help people because in many ways‚ when you help yourself‚ you are also in a way helping others who are benefiting from your rewards. Rachels uses the explanation of when you convince a teacher to cancel an assignment
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Virtue Theory The Virtue Theory is one of the three main theories in normative ethics‚ which emphasizes virtues in determining moral character and what is good. It focuses on what makes a good person‚ rather than what makes a good action. In other words‚ The Virtue Theory is an agent-based approach to ethics‚ which asks this question about being good: “What kind of person should I be?” This is in contrast to the other two approaches‚ Utilitarianism and Kantanism‚ which ask this question concerning
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The word ‘morally’ means concerning or relating to what is right and wrong in human behavior. To take a decision of particular subject matter is not a easy deal. Choices approximately proper and wrong permeate regular existence. Ethics should problem all stages of lifestyles: acting properly as people‚ developing accountable organizations and governments‚ and making our society as a whole greater ethical. This document is designed as an creation to making ethical decisions. It acknowledges that
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choices and perhaps their ethical beliefs‚ we start to understand where ethics belongs in the journey of life‚ which leads me to what I am going to discuss‚ virtue theory. I will explain and offer an evaluation of this theory’s strengths and weaknesses‚ as well as what it means to be virtuous. Aristotle believed that there are two types of virtue: intellectual virtues and moral virtues. Intellectual virtues are taught and moral virtues are developed through habit. (Richard Kraut‚ 2012). He believed that
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Psychological Egoism Psychological egoism‚ as a doctrine‚ refers to the notion and ideology that people tend to act and behave in ways that are purposed to fulfill their needs and wishes (Fiester‚ 2012). Generally‚ this point of view endeavors to highlight that most‚ if not all‚ human actions are actuated by rather self-motivated desires that are not easily noticeable. As such‚ it is unequivocal to expound that the proponents of psychological egoism do not advocate or advance for the fact that some
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Ethical egoism is the view that every action is performed in order to maximize one’s own self-interest. Shoemaker argues‚ however‚ that in order for an ethical theory to be tenable it should be publicizable. He explains that ethical egoism should not be publicized‚ and is therefore implausible‚ because by working in their own best interest‚ ethical egoists will essentially eliminate the best outcome for themselves. When two ethical egoists act together in a way that is beneficial to themselves individually
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Ethics The field of ethics ( or moral philosophy) involves systematizing‚ defending‚ and recommending concepts of right and wrong behavior. Ethics is the philosophical study of the moral value of human conduct and of the rules and principles that ought to govern it and there are two levels: on individual level and on society level. On individual level is a person’s own moral beliefs i.e. what he accepts as right and wrong‚ good or bad. For example‚ vegetarian and non-vegetarian and on society
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