Ethical Reasoning," Donaldson and Werhane outline the three fundamental theories of ethics: consequentialism, deontology, and human nature ethics. Consequentialism, also known as teological ethics, can be further divided into ethical egoism and utilitarianism. Ethical egoism is based on the theory that to act out of self-interest will ultimately be the most ethical decision. Ethical egoism is rarely supported by philosophers, especially in relation to other ethical reasoning theories such as utilitarianism. Philosophers like Bentham and John Stuart Mill argued that the ethical decisions should be based on the principle of the greatest good for the greatest number. Although Mill framed the concept of "good" in terms of happiness, the "greater good" does not necessarily entail happiness and may refer to other abstract concepts like aesthetics. Utilitarianism can itself be subdivided into pluralistic utilitarianism and preference utilitarianism: the former embraces all abstract concepts that can be classified as "good" whereas the latter acknowledges that what is "good" for some may not be "good" to others. Finally, act utilitarianism focuses on the ethics of individual acts and their relation to the greater good, whereas rule utilitarianism focuses more on rules and laws and whether they uphold the greater good. Critics of utilitarianism criticize the ethical theory on three main grounds. First, utilitarianism does not adequately account for universal justice and in fact can cause the minority to suffer because of the will of the majority. Second,...
Third, utilitarianism does not allow for any overarching moral laws or maxims.Stakeholder Approach to Corporate Responsibility This essay examines the question of whether adopting a stakeholder approach is a sufficient means of assuring that corporations meet their moral responsibilities due society. The essay includes a survey of the literature on the subject. Any discussion of the effectiveness of stakeholder theory must address who and what are considered stakeholders. R. Edward Freeman (1984) defines stakeholders as "any group or individual who can affect or
However, when it comes to health-related issues, I do not believe that subjective personal impressions and feelings can influence one's ethical decision-making. The evidence is clear that smoking is harmful to the smoker, and also to the person who inhales second-hand smoke. Additionally, we were in my parents' home. I know that they have hard and fast rules about smoking on their property. My friend took a different point-of-view: he acquiesced
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