Business decisions, by their very nature are related to ethical considerations, because (1) the most cost-effective solutions are elections where the decision could have done differently, (2) every decision or action affects people, and (3) every decision or set solutions is embedded in the belief system that assumes some basic values, or cancellation. The problem of moral justification of belief, and their integration into business process management and application of ethical standards in the daily decision-making, are incomplete and can be annoying. But the business manager resorted to the old tradition of ethical research. This note sets out some of the key terms used in the study of ethics and describes the task of business ethics. Most importantly, the text describes the five theories of moral reasoning-utilitarianism, based on the rules of morality, law approach, the modern approach to Aristotle's virtuous character, and social justice. They were the minimum standards for an acceptable moral decisions that can serve as a criterion for moral judgments of business.
This Darden study. "Hide
by Pat Werhane Source: Darden School of Business 11 pages. Publication Date: December 1, 1994. Prod. #: UV0385-PDF-ENG
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