33:140:320 Lecture 7: Chapter 7
Document Summary
Principle of rights- rinciple that human beings have certain fundamental rights to life freedom and the pursuit of happiness. Those who adhere to this rights theory believe that a key factor in determining whether a business decision is ethical is how that decision affests the rights of various groups. These groups include the firms owners its employees the consumers of its products or services its suppliers the community in which it does business and society as a whole. Utilitarianism- approach to ethical reasoning that evaluates behavior in light of the consequences of that behavior for those who will be affected by it rather than on the basis of any absolute ethical moral values. In utilitarian reasoning a good decision is one that results in the greatest good for the greatest number of people affected by the decision- bentham and john stuart mill.
