Business Ethics (Essay Sample)

Business Ethics
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Institution
Business Ethics
Ethical Egoism is when individuals promote their own wellbeing above the interests of others. In this theory, it is believed that people should not be their brother’s keeper since it is difficult to understand the true needs of others (Beauchamp & Bowie, 2001). Ethical egoism could be beneficial in the business context when it comes to performance. The staff of a business should be competitive in order to provide quality performance. The purpose of awarding the most improved and the best employees is to encourage other employees to work harder as their colleagues. Ethical egoism is beneficial to the company as a whole when it works towards achieving it goals, as well as objectives.
Under utilitarianism, an action could be wrong or right, morally, depending on it consequences. Actions that are wrong, but lead to happiness of the doer are considered rightful by utilitarianism (Beauchamp & Bowie, 2001). This is based on the belief that an action is right if it leads to a balance of good consequences over bad consequences for the affected parties. Utilitarianism and ethical egoism are similar as they focus on the wellbeing, despite the actions taken; however, the difference is where the acts are directed in the two theories.
In the categorical imperative, Kant categorized it in three ways; formulation of the universal law, formulation of humanity or end in itself, and the combination of the two; formulation Ends of Kingdoms (Beauchamp & Bowie, 2001). Kant focused on the well-being of human beings and believed the duty of individuals could be determined using these three categories. These categories are beneficial if implied and lead to a peaceful coexistence between human beings.
Kant requires that an individual should always tell the truth despite the situation they are in, whether good or bad. However, this is a challenge to his belief that humanity should be treated with respect. Telling the truth would be killing your friend indirectly. This decision by Kant would be putting a life at risk. Utilitarianism applies in such situation where an individual decides lie (bad action) for a good consequence.
The issue of the Ford Pinto case was whether the benefit analysis should be used i...