MANAGMNT 260 Chapter Notes - Chapter 3: Moral Agency, Stakeholder Theory, Marina Del Rey, California
23 Jan 2017
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Legal compliance is not the same as acting ethically. Your reputation, individually or corporately, depends on how others regard your actions. Goodwill is hard to measure or quantify, but it is real nonetheless and can best be protected by acting ethically. Utilitarianism is a prominent perspective on ethics, one that is well aligned with economics and the free-market outlook that has come to dominate much current thinking about business, management, and economics. An action (or set of actions) is generally deemed good or right if it maximizes happiness or pleasure throughout society. The theory that the right moral act is the one that produces the greatest good for society. There are two requirements for a rule of action to be universal: consistency and reversibility. Again,deontology requires that we put duty first, act rationally, and give moral weight to the inherent equality of all human beings.
