How successfully might a utilitarian approach be applied to issues arising in business ethics? 40 marks
10 views 0 purchase
Course
3. Applied Ethics. b) Business Ethics (H573)
Institution
OCR
Bullet-point essay revision plan written by a student aiming for top grades. Discusses the question 'How successfully might a utilitarian approach be applied to issues arising in business ethics?' and includes a personal thesis statement. Includes scholars such as Mill/Bentham/Kant/Aristotle and mo...
How successfully might a utilitarian approach be applied to issues arising in business
ethics?
Intro:
• Utilitarianism - principle of utility.
> Acting for the greats good for the greatest number of people.
> Act Utilitarianism - developed by Bentham.
> Teleological approach.
> Rule Utilitarianism - developed by Mill.
• Business ethics - refers to the corporate social responsibility businesses have beyond
their shareholders.
Thesis:
• Superficially successful.
> Teleological approach - businesses have to consider their impact.
> Can be multifaceted - eg, consumers/employees/climate etc.
• However - unrealistic + contributed to further marginalisation of minority groups.
> Ultimately - impossible for businesses to follow consistently because businesses do have
to make a profit in order to stay on the market.
> Poses an ethical dilema of nurturing the community or satisfying it’s shareholders.
> Teleological approach - inherent flaw.
> Uses people as a means to an end.
> Kantian ethical approach might be more successful - although still limited.
Utilitarianism:
• Act Utilitarianism - Bentham.
> Atheist + radical empiricist.
> Developed Hedonic Calculus - draws on Greek traditions + Aristotle’s belief that
happiness results from use of reason + cultivating virtues.
> Teleological reasoning + quantitive approach.
> HC designed to rate pleasure under certain criteria.
• Rule Utilitarianism - Mill.
> Philosopher + active reformer.
> Qualitative approach - places happiness as the standard of utility.
• Bentham’s HC can provide a thoroughly premeditated guide of business owners - useful
under pressure.
> Situational approach - appreciated complexity of moral business dilemas.
• However - there will always be a ‘utilitarian sacrifice’.
> Minority suffers whilst major enjoys the maximised pleasures.
> eg, Business owners of Rana Plaza sacrificed the lives of their workers.
> Needs to be balanced to provide greater equality.
Corporate Social Responsibility:
• Utilitarianism would support a business’s CSR - businesses have to consider their
impact.
> ‘greatest pleasure/happiness/ for the greatest number’.
> CSR.
> Employees - safe working conditions/minimum wage/employment security etc.
• However - unrealistic.
> Business still have to make a profit in order to stay on the market.
> Milton Freedman - economist who wrote ‘ The Social Responsibility of a Business is to
increase its profits’.
> Argued it is actually unethical to prioritise CSR above shareholders.
> Taking money away from profits to fulfil CSR = stealing from shareholders.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Kitty06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.44. You're not tied to anything after your purchase.
