What are the theories of basic business ethics?
The theory of business ethics includes moral principles or codes implemented by the company to ensure that all individuals working in society are acting with acceptable behavior. Owners and managers of enterprises can use ethical theory they consider most suitable for use in their operations. There are several different theories of business ethics such as utilitarian, rights, justice, common good and virtue. These theories can be used by themselves or in combination. Each theory includes specific features or characteristics that focus on specific ethical principles that can help companies to fix business problems. Among the theories of business ethics, this is usually considered the oldest theory, because it promoted many philosophers such as Jeremy Bentham, James Mill and Mill's son John Stuart Mill. Businesses can use this theory to ensure the outcome of different situations helps the maximum number of participating parties. Morality plays a big role in this because individuals mustpersonally use ethical behavior to achieve the final goal without abuse of people. The theory of business ethics often uses this approach by not storing their missions, products or consumer products.
Justice as an ethical approach is a place where all people are treated equally through society, regardless of rank, position, class, religion or race. This is also known as an approach to justice in business ethics. If people are not fairly treated with people - for example, one employee who receives higher compensation than another - there must be a legitimate reason, such as HIGHR technical skills or job position exclusivity.
A general good approach is trying to promote common values and moral or ethical principles found in society. This differs from place to place, based on specific cultural or social beliefs of countries. For example, the moral princePyr found in Japan will often differ from principles in the United States. Owners and company managers often implement these principles to ensure that the total mission of their company is synchronized with the company as a total.
The approach of virtue is a bit more difficult for companies to implement, as its approach focuses on monitoring ethical principles that should be evident in society. These principles or virtues seek to replace current values unless they bring the best or best development of humanity. Businesses can implement this approach, although it can run against grain of society until the values are held among the general public.