2) Why were the three simple ethical tests established in business ethics? Give examples of them.
4) Analyzing the ethical frameworks needed in decision making, which ones best align to the eight ethical principles of the Global Business Standards of Codex?
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What are the deontological and teleological frameworks of business ethics? Give examples of them in today's business environment.
Teleological frameworks are predicated upon a conceptual framework that places focus on the ethical consequences that actions elicit. Therefore, any action will result in consequences, and whether or not those consequences are ethical or not will be referred to as "consequentialist" theories. Common ethical theories that are teleological include egoism and utilitarianism. The premise behind teleological theories in regard to business is that businesses are in business to make a profit and the only facet of moral obligation that they should ascertain is making a profit while ensuring that they obey the law. Therefore, under the egoist viewpoint associated with teleological theory, business leaders ascertain whether or not their actions will positively impact their (own) personal physical, mental, or emotional well being when deciding whether to engage in a business action. Therefore, when the business owner is faced with a business decision, the course of action they choose is what best serves their self-interests as opposed to whether or not it's an ethical decision.
Utilitarianism under teleological conceptual framework is predicated upon judging business actions by whether or not they maximize the good by creating the greatest good for the greatest number of people. If this occurs, the actions are considered as ethical. Deontological ethics represents a conceptual framework that assessing the ethical actions of others by determining the inherent rights of individual and the intentions of the actor. Therefore, justice is an integral part of deontological ethics wherein Individuals are to be treated as means and not ends. Therefore, actions are ...
This solution discusses various aspects of business ethics.