Assignment Instructions: The founder of On-Time Technology Products is being pressured by their biggest investor to use cheaper parts that will not last more than one year. Based on your reading of ethics in this PowerPoint©presentation, apply ethical reasoning to respond to this big investor regarding your company’s ethical position on using these cheaper parts.
Checklist:
•Review the PowerPoint presentation on consequential, non-consequential, and virtue ethics. below copied in word
•Then using an ethical perspective from the above presentation, and apply it to respond to the big investor.
•Discuss how your ethical response also complies with providing exceptional customer service. Scenario Background:
On-Time Technology Products (OTTP) sells products relating to time. Their product line consists of a huge assortment of clocks, watches, daytime planner books, and software. Many of their products are unique and innovative. They have been frequently compared to other high-end retailers.. Their products are sold in retail stores, via the Internet, and via catalogs. Their call center is presently in Dayton, Ohio. Mark MacGibson is the new President for On-Time Technology Products. Mr. MacGibson is a graduate from Kaplan University’s MBA program. Mary Graff has a Bachelor’s degree in Business from Kaplan University and is the supervisor for the Customer Service Representatives. Mr. MacGibson and Ms. Graff’s plans are to take On-Time Technology Products to a new level of exceptional customer service.
PowelPoint below in word..
An Overview of Consequential, Nonconsequential and Virtue Ethics Theories
What is Ethics?
Ethics is the study of those values that relate to our moral conduct, including questions of good and evil, right and wrong, and moral responsibility.
Consequentialist Theories:
Consequentialist theories claim that the morality of an action depends only on its consequences.
It only considers the result of actions and not principles or rules in determining morality.
Types of Consequentialist Theories:
Ethical Egoism argues that each person should act in their own self interests.
Act Utilitarianism argues that each person should act in a way that produces the greatest happiness for everyone.
Rule Utilitarianism argues that each person should follow rules that tend to produce the greatest happiness for everyone.
Weaknesses of Consequentialist Theories:
Requires person to predict the future and all possible outcomes.
Can easily be used to justify questionable actions (the end justifies the means).
Nonconsequentialist Theories:
Nonconsequentialist theories claim that the morality of an action depends on principles or other factors that are not related to consequences.
Types of Nonconsequentialist Theories:
Divine command theory argues that we should obey the laws of God.
Kant’s Categorical Imperative states that we should always act in a way that is based on reason, duty, and would be considered ethical if everyone acted in the exact same way. Also, people should be treated as an ends and not as a means.
Weaknesses of Nonconsequentialist Theories:
Divine Command requires a high degree of interpretation skills.
Variety of religions makes standards hard to develop for all.
Can be rigid and ignore outcomes
Virtue Ethics:
Virtue ethics seeks to identify character traits of a moral person and develop those with the idea that the virtuous person will act in a virtuous manner. It does not look to principles or consequences.
Virtue ethics was developed among the ancient Greek philosophers such as Aristotle and Confucius.
Virtue ethics enjoys modern support as an approach that avoids many of the problems with Consequential and Nonconsequential ethical theories.
Weaknesses of Virtue Theory:
Difficulty in determining just which characteristics are virtues
Justification for respecting a virtue usually brings one back to either consequences or principles.
Difficulty in applying to specific situations.
Conclusion:
One theory is not enough to cover all possible choices.
Theories can be synthesized to fit one’s philosophy of life.
One theory’s weakness is another’s strength.
