ETHICS AND PROFESSIONALISM
RELEVANCE:
Ethics = human values; describe ‘correct’ behaviour.
SUBSTANTIVE/NORMATIVE:
- Is this the right thing to do?
- A question posed against one’s own feelings.
META-ETHICS:
- How do I know this is the right thing to do?
- What am I weighing against this? (Past experiences, people around
me)
GOOD BUSINESS PRACTICE:
- Businesses don’t operate in a vacuum.
- Profit is not sole driving force behind business although it is
important = integrated reporting.
- Ethics = professionalism + accountability.
- Induction process = Code of Conduct & Ethics: predetermined
consequences.
ETHICAL THEORIES
PRINCIPLE – BASED THEORY:
One’s own principles, values, morals they have been taught will
determine right from wrong.
Advantage = individuals rights are considered rather than great
good.
Disadvantage = hard to determine exactly when something is a
‘right’ and not a ‘want’.
CONSEQUENCE – BASED THEORY:
Consequence of an action determines if something is right or wrong.
E.g., paying a bribe to get a contract.
Advantage = emphasising the thought process – keeping own
morals + principles in mind.
Disadvantage = the consequences may be too vast (prison time).
UTILIARIAN THEORY:
Decision of ethical or unethical is based on what’s best for the
greater number of people.
E.g., if I pay a bribe to get a deal but it creates job opportunities, is
it okay?
Advantage = stressed happiness and utility.
Disadvantage = ignores concerns of justices for minority.
VIRTUE – BASED THEORY:
, Emphasise the moral behaviour pre-supposes a well-formed
character.
Means character will be judged rather than actions.
Advantage = stresses moral development and education.
Disadvantage = depends on community standards for morality.
NARRATIVE – BASED THEORY:
Stories used to describe right from wrong like rhymes or children’s
stories.
E.g., use previous court cases as support.
Advantage = match theory to practice = learning.
Disadvantage = not always relevant and can spread rumours.
DEONTOLOGY THEORY:
The person upholds his/her obligation towards another person or
society, the action will be ethical.
Duty is not based on what is pleasant or beneficial but rather upon
the obligation itself.
E.g., you’re duty bound to always tell the truth, even if it cost you a
job.
Advantage = stresses the role of duty and respect for
persons/businesses.
Disadvantage = underestimates the importance of happiness and
social utility.
MORAL ABSOLUTISM:
Only one ethical solution.
Advantages = fixed ethical code to measure actions + global view of
ethics like child labour.
Disadvantage = doesn’t take circumstances into account +
intolerant of cultural diversity which doesn’t allow for a lesser evil.
MORAL RELATIVISM:
Same problem with different circumstances could be dealt with
differently.
More than one moral solution.
Universal code of ethics is difficult to set due to cultures + religion.
Advantages = encourage cultural diversity + prohibits dominant
culture + flexible.
Disadvantages = existence of different beliefs doesn’t mean they
are all equal +cultural or moral relativists cannot criticise another’s
morals.
RELEVANCE:
Ethics = human values; describe ‘correct’ behaviour.
SUBSTANTIVE/NORMATIVE:
- Is this the right thing to do?
- A question posed against one’s own feelings.
META-ETHICS:
- How do I know this is the right thing to do?
- What am I weighing against this? (Past experiences, people around
me)
GOOD BUSINESS PRACTICE:
- Businesses don’t operate in a vacuum.
- Profit is not sole driving force behind business although it is
important = integrated reporting.
- Ethics = professionalism + accountability.
- Induction process = Code of Conduct & Ethics: predetermined
consequences.
ETHICAL THEORIES
PRINCIPLE – BASED THEORY:
One’s own principles, values, morals they have been taught will
determine right from wrong.
Advantage = individuals rights are considered rather than great
good.
Disadvantage = hard to determine exactly when something is a
‘right’ and not a ‘want’.
CONSEQUENCE – BASED THEORY:
Consequence of an action determines if something is right or wrong.
E.g., paying a bribe to get a contract.
Advantage = emphasising the thought process – keeping own
morals + principles in mind.
Disadvantage = the consequences may be too vast (prison time).
UTILIARIAN THEORY:
Decision of ethical or unethical is based on what’s best for the
greater number of people.
E.g., if I pay a bribe to get a deal but it creates job opportunities, is
it okay?
Advantage = stressed happiness and utility.
Disadvantage = ignores concerns of justices for minority.
VIRTUE – BASED THEORY:
, Emphasise the moral behaviour pre-supposes a well-formed
character.
Means character will be judged rather than actions.
Advantage = stresses moral development and education.
Disadvantage = depends on community standards for morality.
NARRATIVE – BASED THEORY:
Stories used to describe right from wrong like rhymes or children’s
stories.
E.g., use previous court cases as support.
Advantage = match theory to practice = learning.
Disadvantage = not always relevant and can spread rumours.
DEONTOLOGY THEORY:
The person upholds his/her obligation towards another person or
society, the action will be ethical.
Duty is not based on what is pleasant or beneficial but rather upon
the obligation itself.
E.g., you’re duty bound to always tell the truth, even if it cost you a
job.
Advantage = stresses the role of duty and respect for
persons/businesses.
Disadvantage = underestimates the importance of happiness and
social utility.
MORAL ABSOLUTISM:
Only one ethical solution.
Advantages = fixed ethical code to measure actions + global view of
ethics like child labour.
Disadvantage = doesn’t take circumstances into account +
intolerant of cultural diversity which doesn’t allow for a lesser evil.
MORAL RELATIVISM:
Same problem with different circumstances could be dealt with
differently.
More than one moral solution.
Universal code of ethics is difficult to set due to cultures + religion.
Advantages = encourage cultural diversity + prohibits dominant
culture + flexible.
Disadvantages = existence of different beliefs doesn’t mean they
are all equal +cultural or moral relativists cannot criticise another’s
morals.
