Ethical Theories Analysis Essay Example

determine which one is greater between two individuals (Beauchamp & Bowie, 2004). However, there are limitations to utilitarianism as it becomes difficult to predict all the consequences of a business decision. Making accurate forecasts require sufficient data or experience which may not always be available to managers using a consequentialist approach.

As stated by Fritzsche (1997), making decisions grows increasingly challenging as their complexity increases. Moreover, a significant proportion of decisions present consequences that lack commonly utilized measurement units, making their evaluation difficult. In particular, choosing between acquiring emission control equipment for a smokestack represents such a problem. Meeting environmental requirements may entail a $500,000 cost, while reducing emissions by half may require investing $1.5 million. The selection of the most appropriate equipment involves no challenges regarding cost determination.

According to Fritzsche (1997), the exact gain utility provided by each equipment is unclear. Meanwhile, Gewirth (1996) asserts that the justification for obligations comes from rights-based theory. Rights are the best expression of morality's purpose, which is to secure liberties or benefits for those who hold them. There are two types of responsibilities under this theory: negative obligations, which forbid interfering with the liberties of others to ensure liberty rights, and positive obligations, which require specific individuals or entities to supply advantages or services for benefit rights or welfare rights (Mack, 1985). Negative rights safeguard an individual's freedom from intervention by either other people or the government, while positive rights allow valid claims on goods or services (Beauchamp & Bowie, 2004).

According to De George (1999), positive rights necessitate that the government offers the holders of such rights with specific supplies or prospects. Benefits Rights are noteworthy in corporate

ethics and moral quandaries, as they are perceived to apply to both employers and employees. As per Boatright (2007), employers possess the liberty to control their business operations, make choices on employment and advancement, and safeguard themselves from inequitable forms of rivalry.

Moral rights are legitimate entitlements or demands based on norms and values. The right to life is a justifiable claim that stems from our rationality and worthiness as individuals (De George, 1999). However, rights alone do not encompass ethical considerations, particularly in personal relationships, and they are generally defined within particular groups such as humanity, women, indigenous communities, and workers. Justice is another crucial moral concept with broad applications (Boatright, 2007). It entails provision of the due rights to each individual, through treating equals equally and unequals differently, however identifying what each person is deserving of can be based on their merit, ability, work or need (De George, 1999).

There are three different principles of justice: distributive, retributive, and compensatory. Distributive justice focuses on how society's institutions assign benefits and burdens to its members in a fair manner. If these institutions do not distribute resources equitably, it is advisable to modify them (Velasquez et al, 1990). Retributive justice deals with the fairness of punishments given out. A punishment is considered just if it takes into account relevant factors such as the severity of the offense and the perpetrator's intent while disregarding irrelevant factors like race.

(Velasquez et al, 1990) The principle of compensatory justice is centered on providing compensation to the victim of a wrongful act. It is widely agreed upon that the injured party should be returned to their original state before the injury occurred,

which might involve medical attention and any necessary products or services to remedy the harm.

Fritzsche (1997) states that compensation ought to solely encompass the loss sustained by the injured party without exceeding it. Nevertheless, complications arise when complete reimbursement becomes unattainable, as in cases where there is a loss of life or proprietary information. In such instances, the ideal resolution involves the wrongdoer paying for the approximate amount of damage caused. Normative ethical theories act as aids to assist individuals in making appropriate judgments and remedying situations when required at various societal levels.

The core of humankind lies in ethical theories as these theories guide us in achieving the desired environment. Not only do they enable authorities to enforce laws and businesses to operate ethically, but they also empower specific groups to fight for equality. Comparing the ethical theories, rights and justice, with wider applications, are crucial moral concepts. This is in contrast to utilitarianism, which has influenced businesses and governments to adopt tools such as cost-benefit analysis, risk assessment, or management by objectives. Although utilitarianism has its benefits, justice is ranked highest due to its functionality in protecting people and guiding decision-making in accordance with the law.

The foundation of justice lies in the principles of social stability, interdependence, and equal dignity. The theory of rights grants individuals entitlements that safeguard their rights as outlined by Human Rights laws, which bestows specific rights to individual or group holders. In contrast, utilitarianism falls short as its measurement of happiness fails to ensure equality for all. For instance, if Malden Mills had adopted a utilitarian approach, the CEO would have had to relocate operations to a

Third World country with cheaper labor costs. Although this may have financially benefited the company, it would have also created job opportunities for those workers who are more in need than American workers.

In spite of the viewpoint that creating employment opportunities in Third World nations could have resulted in more utility compared to Lawrence, Massachusetts, the CEO opted to reconstruct the enterprise and still compensates its labor force. This ethical predicament is deliberated in "Ethical Theory and Business" (2004) by Beauchamp and Bowie as well as Boatright's literature.

(2007) Pearson International-Prentice Hall's Ethics and the Conduct of Business and Prentice Hall's Business Ethics by R. De George and T. Fritzsche, respectively, were published in 1999.

There are several sources that relate to business ethics and justice. These include "Business Ethics: A global and managerial perspective" (1997) by McGraw-Hill, and "The Community of Rights" (1996) by A. Gewirth, published by the University of Chicago Press. Additionally, a website offering guidance on ethical decision-making can be found at http://www.scu.edu/ethics/practicing/decision/justice.

The HTML paragraph includes mentions of two ethics sources. The initial source is Mack's "Positives and Negatives Duties," which was printed by Tulane University Press in 1985. The second reference is a website authored by Velasquez et al. from Santa Clara University titled "Justice and Fairness," accessible at http://www.scu.edu/ethics/practicing/decision/justice.html.