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Foundations of The Principles of Business Ethics

The document discusses three ethical frameworks - Utilitarianism, Ethics of Principles and Rights, and Virtue Ethics. It then examines Utilitarianism in more detail as a consequentialist approach focused on outcomes and promoting the greatest good. The document also explores how different belief systems like Buddhism, Islam, and Christianity can impact business ethics. Finally, it analyzes the influence of Filipino cultural practices such as "Filipino Time" and "Utang na Loob" on professionalism and ethical decision making.

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240 views

Foundations of The Principles of Business Ethics

The document discusses three ethical frameworks - Utilitarianism, Ethics of Principles and Rights, and Virtue Ethics. It then examines Utilitarianism in more detail as a consequentialist approach focused on outcomes and promoting the greatest good. The document also explores how different belief systems like Buddhism, Islam, and Christianity can impact business ethics. Finally, it analyzes the influence of Filipino cultural practices such as "Filipino Time" and "Utang na Loob" on professionalism and ethical decision making.

Uploaded by

CPAREVIEW
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Module 4

Foundations of the
Principles of Business Ethics
Philosophical Ethics
Provides justifications that must be applicable to all people regardless
of their religious viewpoints.

• I will donate to Yolanda victims • I will donate to Yolanda victims


to help them rebuild their lives. because God expects me to help
other people.
Three Ethical Frameworks
Ethical Framework Source of Moral Activity
Utilitarianism • Making decisions based on ethical consequences
• Results-based approach
• The ends justify the means
Ethics of Principles and • Making decisions based on principle, and not just
Rights on consequences
• The ends DO NOT justify the means.
Virtue Ethics • Grounded on character traits and emphasizes
moral character in contrast to moral rules or
consequences of actions.
Utilitarianism: A Consequentialist
(Result-based) Approach
• - holds that an action is judge on its overall
consequences.
• - is an ethical theory that determines right from
wrong by focusing on outcomes.
Principles:
• 1. A decision is morally right if it promotes the greatest good for the
greatest number of people.
• 2. It is morally right if the net benefits over costs are greatest for all
people affected, compared with the net benefits over costs of all
other possible choices.
• 3. it is morally right if its benefits are greatest for each individual and
if theses benefits outweigh the costs and benefits of alternatives.
Two types of Utilitarianism
Rule-based Utilitarianism Act-based Utilitarianism
General principles are used in The decision is based on the
making a decision on the likelihood of achieving greatest
greatest benefit that can be utility or good by analyzing
achieved from an action. particular actions or behavior.
Ethics of Principles and Rights
• - explores the relationship between legislative and judicial
branches of government– legislative roles creates policies
and regulations based on utilitarian principles, while judicial
role enforces these laws to achieve justice and fairness.
Virtue Ethics
• - described as the character traits that would
constitute a good and meaningful life.
Impacts of Different Belief Systems on
Business Ethics
• Buddhism
- A religion originated in India around 525 BC.
- Flexible system of beliefs that allows it to adapt to country-
specific customs, and agrees with the moral teachings of other
religions.
Moral Obligation of Buddhist:
• harming or taking lives of being
• Taking what is not given
• Engaging in sexual misconduct
• Lying or spreading gossip
• Taking intoxicating substances such as alcohol or drugs
Islam
• Shariah- Islamic religious law based on Qur’an.
• Favors trading or business, but it has to obey rules, and most
importantly, be guided by honesty.
• Possible grains from the trade or business should not result in
materialism.
Christianity
• Beliefs are all based on the Bible containing the Old and New
Testaments.
• A particular occupation or business were naturally concerned
that their actions involving their work or business must be
conducted in an ethical manner and for the good of the
community.
Impact of Filipino Practices and Belief Systems
on Business Ethics
• Filipino Time
- Synonymous to being late.
- This trait is used as an excused for being tardy in meetings,
events, and other social affairs, whether formal or informal.
- Reflects unprofessionalism and lack of respect for other people’s
time.
• Padrino System

- Happens when one gains favors, promotion, or political position


through family affiliation or friendship, as opposed to earning it
due to one’s own skills and abilities.
• Utang na Loob

- Indebtedness in gratitude is the concept of “paying” back a


person in nonmonetary terms.
- The good deed that has been received will be paid back with a
good deed as well.
• Pakikisama

- Describes how Filipinos take care of their interpersonal


relationships by agreeing to what the majority wants or by getting
along with others.
• Bahala na/Manana Habit

• Bahala na – leaving everything to chance.

• Manana Habit (mamaya na)- delaying to do things instead of


doing things now.
• Filipino Hospitality

- Given to generous and cordial (warm and often hearty


friendliness) reception of guests.

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