Utilitarian approach to day to day business decisions
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Do you believe that a business owner should take a utilitarian approach to making day to day business decisions? Why or why not?
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1. Do you think business people should be required to study ethics? Why or why not?
2. Is it important for most people in the same company to share similar ethical ideologies? Why or why not? Provide specific examples.
3. In a local or national newspaper, find an article about a topic related to business ethics. Read the article. Then, write 3-5 paragraphs that answer one of the following questions:
Explain what the article is about. Describe what you believe to be the basic ethical position of the company or CEO outlined in the article. Are there any inconsistencies in his or her ethical position? Try to identify which school of ethical thought outlined in your text taken by the company or CEO.
OR
Explain what the article is about. Identify the major stakeholders (e.g. employees, ownership, the community, etc.) identified in the article and their differing goals and objectives. Apply the concept of utilitarianism to the situation and describe how each stakeholder would be impacted by a "greatest good for the greatest number" philosophy. Does everyone come out equal? Why or why not?
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Solution Summary
The solution discusses the utilitarian approach to day to day business decisions.
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As often as possible, the business owner should use the utilitarian approach to maximize the outcome. Taking action based on the outcome, especially for small businesses is a good way for business to build up a reputation and understand the responsibility of making profits. Decisions made based on maximizing profits and making the business's success a focused outcome, is the best way for a business to administer day-to-day operations If business owners would take such an approach more often, including when it is a matter of money and continued business, more businesses would be successful..
1. I think it is wise to study ethics, though requiring people to study it might be a bit much. Understanding that ethics is not just about cheating customers and employees, but about the approach to all aspects of business and the environment of business, might make it easier to make good decisions. Professionalism is one ...
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