Business Ethics
The moral philosophy or ethical theory of Utilitarianism introduced bythe English philosopher, Jeremy Benthem towards the end of the 18thcentury, is without doubt best suited for making business decisions. Inthis essay we will discuss what is Utilitarianism, in which way(s) do theprinciples of utilitarianism apply to decision making and why they are bestsuited for making business decisions. The principle of Utility was first advocated by Jeremy Benthem as "Any
' The proviso in the theory of seekinghappiness for the greatest numbers means that adoption of unsavorypractices for selfish reasons are 'unethical. [1] Some people may disagree with this theory on the plea that it couldwork against the minority interests, but the fact is that no other moralphilosophy has so far been developed that is better suited to decision-making in businesses. " Thegoal of Utilitarianism was later identified by Benthem and his followerJohn Stuart Mill as "providing the greatest good for the greatest numbers. Hence, any decision taken in the interest ofthe "greatest number" would be the most moral decision for the organizationas well as the society at large. ' At the same time, it iswidely recognized that most for-profit organizations have to operate in thebest interests of the stockholders, the organization itself (including itsemployees) and the customers. " The ethical theory of utilitarianism suits business decision making tothe "T" because the utilitarian criteria is focused on the 'outcomes' or'consequences' rather than about 'how' the outcomes are achieved. Such decisions would also be consistentwith the business's goals of efficiency, productivity, and high profits. motes happiness of an individual or lessens pain is rightwhile any action that increases pain or decreases happiness is wrong. At the same time, focusingon the outcome in utilitarianism does not mean that one can achieve theobjective by 'hook or crook. Thismeans that the philosophy is results oriented.
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Acceptance Essays
