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Flashcards in P1 Old Deck (15):
1

P1

Summary on ethical theories

Absolutism and deontology are similar

Relativism and teleology are similar

Absolutism and relativism are assumptions

Deontology and teleology are ethical theories

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Deontological Ethics by Kant

Society is best served by everyone following certain ethical rules, and obeying them no matter what the results are. People will undermine society if they disobey the ethical rules, even if they do so with the intention of avoiding adverse consequences.

3

P1

Teleological / Consequentialist Ethics

You cannot divorce an action from its consequences, and when taking ethical decisions you must take account of what the consequences will be. Implies that you have to define what the best possible consequences are.

Two versions: utilitarianism (best for greater number) and egoism (best for me)

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Non cognitivism

Recognises that differences exist between the rules of behaviour prevailing in different cultures

5

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Ethical relativism / moral relativism

Right and wrong are culturally determined

Society should not impose moral imperatives strictly, since it excepts that different ethical and belief systems are acceptable

View that ethics vary between different ages and different communities

Can lead to a philosophy of anything goes

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Cognitive bias

Observing with our senses

We see only what we know and understand

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Notional bias

What we measure without using our senses is subject to the bias of the measurement methods used

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Absolutism

View that there is an unchanging set of ethical principles that will apply in all situations, at all times and in all societies

i.e. Religion Law Natural law Deontological approaches

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Pluralism

Accepts that different views may exist on morality, but suggests that the consensus may be able to be reached in certain situations.

Emphasises the importance of morality as a social phenomenon, that some rules and arrangements need to be established for us to live together and we therefore need a good understanding of the different varieties that we encounter

10

P1

Moral intensity - Criteria to measure

  • Magnitude of consequences - harm or benefit that will result
  • Social consequences - degree of general agreement about the problem
  • Probability of effect - probability of harm benefit actually happening
  • Temporal immediacy - speed with which consequences are likely to occur
  • Proximity - feelings of nearness that decision maker has for those who will suffer the impacts of ethical decision
  • Concentration of effect - whether some persons will suffer greatly or many people will suffer lightly

11

P1

Kohlberg cognitive moral development

Stages of ethical decision making

1 What rewards or punishments will result

2 How does this decision affect me

3 What are others around me doing and what is expected of me

4 Is this legally compliant

5 What does society believe

6 Is this justice

12

P1

Corporate codes of ethics normally have the following features

  • Focus on regulating individual employee behaviour
  • Formal documents
  • Cover specific areas such as bribery
  • Employees may be asked to sign to comply
  • Maybe developed from third-party codes
  • Tend to mix moral with technical imperatives
  • Do little more than describe current practices
  • Can be used to shift responsibility downwards

13

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Corporate Social Responsibility - Shareholder view

Social responsibility of business is to make profit

Concerned with ways in which an org exceeds the min obligations to S/K specified through regulation and corporate governance.

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Corporate Social Responsibility - Longer Term Self-Interest View

The long term economic self interest of business to act in a responsible manner

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Corporate Social Responsibility - Stakeholder View

Assumes shareholders are simply one stakeholder among many, and their interests are not necessarily paramount