Chapter 7
Professionalism & ethics:
Effective business practice >
- It is necessary to identify the core values that are important to the business and ensure those values are
ingrained in everyday business practice.
Ethical theories >
1. Principle – based theory:
• A principle-based theory of ethics = a set of values or rules will determine if an action is ethical or
not.
• Focuses on the importance of general principles such as respect for autonomy, justice etc.
2. Consequence – based theory >
- Judges whether something is right by what its consequences are.
- E.G., If telling a lie would help save a person’s life, consequentialism say it’s the right thing to
do.
3. The utilitarian theory >
➢ Focuses on the outcome/consequence of the action but, states that if the outcome benefits the
majority of the group, the actions are justifiable.
4. Narrative theories >
• Use stories/folklore/organizational culture to illustrate to people what is acceptable behaviour or
not.
• This allows the listener to come to a conclusion about whether the actions are acceptable or not.
5. Virtue – based theory >
- Judges’ person based on their character and reputation.
6. Deontology >
➢ states that if the person upholds his/her obligation towards another person or society, the action
will be ethical.
Professionalism & ethics:
Effective business practice >
- It is necessary to identify the core values that are important to the business and ensure those values are
ingrained in everyday business practice.
Ethical theories >
1. Principle – based theory:
• A principle-based theory of ethics = a set of values or rules will determine if an action is ethical or
not.
• Focuses on the importance of general principles such as respect for autonomy, justice etc.
2. Consequence – based theory >
- Judges whether something is right by what its consequences are.
- E.G., If telling a lie would help save a person’s life, consequentialism say it’s the right thing to
do.
3. The utilitarian theory >
➢ Focuses on the outcome/consequence of the action but, states that if the outcome benefits the
majority of the group, the actions are justifiable.
4. Narrative theories >
• Use stories/folklore/organizational culture to illustrate to people what is acceptable behaviour or
not.
• This allows the listener to come to a conclusion about whether the actions are acceptable or not.
5. Virtue – based theory >
- Judges’ person based on their character and reputation.
6. Deontology >
➢ states that if the person upholds his/her obligation towards another person or society, the action
will be ethical.
