Business Ethics- apply Kant and Utilitarianism – Flashcards

Businesses have a duty and responsibility to consider the effects of their activities on their stakeholders. Making sure it complies with the law and ethical norms= CSR. If a business is only concerned about making a profit this can override other factors and becomes an ethical concern. The aim could be wealth and this would include human flourishing = CSR.

Businesses focuses not only on profit but wealth. Examples: Workers-a business looks after its workers, trains them and provides opportunities for professional development. Happy workers= productive workers. Environment- Involved in environment schemes e.g. tree planting to offset their carbon footprint. This will encourage others to do business with them .

If an employee witnesses a wrongdoing and discloses this to the authorities and the public it is known as whistle-blowing. Raises questions about confidentiality and loyalty. Whistle-blowers are protected under UK law and treated as witnesses- unless they whistle-blow on security services, army etc.

Around the world economies, industries, markets etc are becoming more integrated. Globalisation has increased because: Transport- less costly/faster Technological advances Emerging markets- developing countries Free Trade-removal of barriers e.g. EU. Ethical issues: Cheap labour-sweatshops Fair trade- companies can exploit the poor. Cultural erosion- Cultural identities lost.

Kant would dispute Friedman's view that business is only responsible to its shareholders- people should not be used as means to an end. If workers are used to create profit it goes against the basis of Kantian ethics. All stakeholders are worthy of consideration- kingdom of ends. Whistle-blowing- Kant would see this as your duty.

Greatest good for the greatest number- works well in businesses were workers outnumber managers. Would stress the importance of workers rights. It may lead to questionably business practices as long as it favours the greatest number- tyranny of the majority.