Business Ethics Utilitarian Approach

Utilitarianism holds that the most ethical choice is the one that will produce the greatest good for the greatest number.

Business ethics utilitarian approach. It strives to achieve the greatest good for the greatest number while creating the least amount of harm or preventing the greatest amount of suffering. The utilitarian approach also called utilitarianism is essentially a moral principle that asserts that morally correct actions are those that provide the greatest volume of benefits over harms for the majority of people. Human approach towards anticipation for maximizing of pleasure and elimination of suffering and pain brings about the fundamentals established in the realm of moral philosophies that date back to a distant past robertson walter 2007.

A philosophical approach edited by werhane and donaldson. Utilitarianism is an ethical theory that says that the right thing to do in any situation is whatever will do the most good that is whatever will produce the best outcomes taking into consideration the interests of all concerned parties. Robert nozick s libertarian theory of ethics is similar to rawls in that they both believe utilitarianism is a flawed theory due to the importance on the consequences of policies.

I e the net benefits and costs to all stakeholders on an individual level. For example the airline industry offers first class business class and economy class seats on many of their airplanes. It is also the most common approach to moral reasoning used in business because of the way in which it accounts for costs and benefits.

2391 words 10 pages essay. Examples of utilitarian ethics one example of utilitarianism in business is the practice of having tiered pricing for a product or service to different types of customers. A utilitarian approach to this case study in handling self interest is too impractical.

Utilitarianism is a moral theory which works as a form of consequentialism helps individuals to assess whether an action is good or bad. Utilitarianism is part of a larger family of consequentialist ethical theories theories according to which the rightness or wrongness of actions is. Utilitarianism in business can lead to a bottom line mentality in which decisions are based on achieving the greatest good for the organization as it pertains to the greatest number of stakeholders including shareholders and all others affected by the actions of the organization the outcome is the determining factor not the intent of the.

A defense of a utilitarian approach to business ethics written for business ethics. Some of the moral philosophers associated with this theory include jeremy bentham david hume henry sidgwick and many others. The utilitarian approach assesses an action in terms of its consequences or outcomes.