BUSI 3040U Chapter Notes - Chapter 3: Moral Rights, Corporate Action, Common Good
Document Summary
Ethics : refers to the principle of right and wrong that individuals use to make choices that guide their behaviour. Ethical frameworks: the utilitarian approach, the rights approach, the fairness approach, the common good approach. Utilitarian approach : states that an ethical action is the one that provides the most good or does the least harm. ex. The ethical corporate action would be the one that produces the greatest good and does the least harm for all affected parties (customers, employees, shareholders, community, and the environment. ) Rights approach : maintains that an ethical action is the one that best protects and respects the moral rights of the affected parties. Moral rights can include the rights to make one"s own choices about what kind of life to lead, to be told the truth, not to be injured and to a degree of privacy.
