ECON 1 Lecture Notes - Lecture 12: Institute For Operations Research And The Management Sciences, Wield, Social Cost
Document Summary
Summary chapter 13: ethics and corporate social responsibility. Moral principles: fundamental principles that underpin understanding and knowledge of what is right and wrong. Utilitarianism: this approach to ethics relies on the pursuit of maximising utility for the greatest number of people. Utilitarianism means that a certain number of losers will be tolerated if the majority of people are winners. This is one of the weaknesses of this approach and one that has been used as a basis for adopting a human rights approach where issues of equality inform the philosophical underpinning. Human rights: this approach is based on widely held beliefs and consensus on how actions affect the human rights of individuals or groups. Basic principle that every citizen of the world should be afforded a minimum right of life, and freedom of speech and movement. Today, human rights underpin much of the employment laws that govern the way organisations deal with workers.
