Ethical Values in Organizations 26 Ethical Values in Organizations

Ethics Ethics is the code of moral principles and values that govern the behavior of a person or group with respect to what is right or wrong. Ethical values set the standard as to what is good or bad in conduct and decision making Ethics is distinct from behaviors governed by law. The rule of law arises from a set of codified principles and regulations that describe how people are required to act, are generally accepted in society, and are enforceable in courts. Relationship between ethics and law is that of overlapping standards and code of conduct

Basis of Ethics Divine command ethics Consequentialists’ views Non consequentialsts (Kant)

Ethics and Consequences Utility theory of ethics: put forward by Hume, Locke and given the ultimate shape by Jeremy Bentham Based on Epicurean philosophy of pain and pleasure Good is what gives more pleasure (happiness), total pleasure or average pleasure? How to calculate happiness to society, hedonists calculus Restatement of Utility theory by J S Mill He acknowledged that happiness/pleasures are different qualitatively, by saying that Mill effectively destroyed the Utility theory American pragmatism