Ethics in Business and the Christian Life

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Presentation transcript:

Ethics in Business and the Christian Life Night 5 Tuesday March 17, 2015

What is Ethics? A branch of philosophy dealing with what is good and bad and with moral duty and obligation. The principles of moral conduct governing an individual or group. Ethics refers to right and wrong conduct of individuals and institutions of which they are a part.

What is Business Ethics? Comprises moral principles and standards that guide behavior in the world of business. Businesses must make a profit in order to survive. Business profits should not be obtained by any means necessary. A trade-off must exist between the firm’s desire for profits and what is good for individuals and society.

What is Ethics? “…that behavior which is the ‘right’ thing to do, given the circumstances” Four principles: Honesty Integrity Fairness Concern for others

Theory in Ethics Teleology Consequentialism Egoism Utilitarianism Deontology Relativism

Methods for Ethical Decision Making Teleology Act is morally acceptable if it produces some desired result. Form of consequentialism--morality of decisions are based on their consequences.

Methods for Ethical Decision Making Teleology Egoism--acts that benefit the individual’s self- interest. Utilitarianism--acts that maximize total utility-- the greatest good for the greatest number of people.

Methods for Ethical Decision Making Deontology The inherent rightness or wrongness of an act guides behavior, regardless of the outcome. Believes that there are some things people should never do.

Methods for Ethical Decision Making Relativism The correctness of decisions is thought to change over time. Uses others to judge the ethicality of decisions.

Absolutes or Relatives

Five Common Ethical Traps The False-Necessity Trap The Doctrine-of-Relative-Filth Trap The Rationalization Trap The Self-Deception Trap The Ends-Justify-the-Means Trap

Tools for Doing the Right Thing Is the action you are considering legal? How would you see the problem if you were on the opposite side? What are alternate solutions? Can you discuss the problem with someone whose advice you trust? How would you feel if your family, friends, employer, or coworkers learned of your actions?