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Utilitarianism

This document defines and explains the concepts of morality, utilitarianism, and human values. It also discusses some of the ethical issues faced by corporations globally and in India. Morality refers to distinguishing right from wrong conduct based on a value system. Utilitarianism aims to maximize utility or well-being. Human values determine how we treat others and can be positive or negative. Corporations face ethical challenges regarding how and why they make money, as well as in their treatment of customers, partners, and society.

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43 views2 pages

Utilitarianism

This document defines and explains the concepts of morality, utilitarianism, and human values. It also discusses some of the ethical issues faced by corporations globally and in India. Morality refers to distinguishing right from wrong conduct based on a value system. Utilitarianism aims to maximize utility or well-being. Human values determine how we treat others and can be positive or negative. Corporations face ethical challenges regarding how and why they make money, as well as in their treatment of customers, partners, and society.

Uploaded by

khem_singh
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Describe the concepts - Morality, Utilitarianism and Human Values.

Explain what ethical


issues are faced by corporations in business functions and decisions, at global level and in
India.

Morality

Morality ") is a sense of behavioral conduct that differentiates intentions, decisions, and actions
between those that are good (or right) and bad (or wrong). It is a code of values to guide man’s
choices and actions—the choices and actions that determine the purpose and the course of his
life.

The term “morality” can be used either

1. descriptively to refer to a code of conduct put forward by a society

In its "descriptive" sense, morality refers to personal or cultural values, codes of conduct
or social mores that distinguish between right and wrong in the human society.
Describing morality in this way is not making a claim about what is objectively right or
wrong, but only referring to what is considered right or wrong by an individual or some
group of people (such as a religion).

2. Normatively to refer to a code of conduct that, given specified conditions, would be put
forward by all rational persons.

In its "normative" sense, morality refers directly to what is right and wrong, regardless of
what specific individuals think. It could be defined as the conduct of the ideal "moral"
person in a certain situation.

Morality is clearly important in regulating and in checking our selfish behavior in the
interests of the wider community. Indeed, there are those who maintain that without
society there would be no need for morality. Plato and many other philosophers have
argued that moral actions benefit the doer, while immoral actions injures them.

Moral codes differ over time and between places, and there are many cases of things being
considered moral by one society and immoral by another. In the Roman Empire and medieval
Japan suicide was often considered an honourable act if carried out in response to personal
failure or to protect the interests of one's family, but many of the world's religions condemn it as
immoral.

Utilitarianism

Utilitarianism is an ethical framework for effective moral action. Fundamentally, it is based


quantifying good in terms of utility and attempting to maximize that quantity. Utility is often
defined as happiness or pleasure, although there are other variants, such as the satisfaction of
preferences, or preference utilitarianism. Utilitarianism is often defined as an effort to achieve
the greatest good for the greatest number. There are also numerous sub-strands of utilitarianism
with various caveats and footnotes on the basic theme. Utilitarianism is a form of
consequentialism, where the ends justify the means: if an interim valley of negative utility must
be traversed to reach a peak of greater utility, then utilitarianism advocates it.

Utilitarianism is an effort to provide an answer to the practical question “What ought a man
to do?” Its answer is that he ought to act so as to produce the best consequences possible.

Human Values

Human value is how we give treatment to others in society like, brothers, neighbours, colleagues,
elders, teachers, priests, artists, etc. etc. in showing kindness, compassion, sympathy, etc.

Human values can be classified in different ways. It is we who add value to the 'matter'. For
instance if we pick up a paper and see that it contains our parents photo or our beloved God's
photo, we like to add respect and value to it and try to preserve it. If it contains the photo of some
other unimportant person, we simply throw that. In both cases, the paper is a mere paper. We add
value to it.

There are positive values and negative values. Positive values are those that lead us towards
freedom, peace, fulfilment and happiness. They are warm, shining and uplifting hence it is
directed upwards.

Negative values are those that lead us towards bondage, conflict, sorrow, dark and debasing.
Hence negative values are directed downwards.

ethical issues are faced by corporations in business functions and decisions

Ethical behavior and service is an important aspect of a company’s conduct with customers, partners,
prospects, vendors, regulators, society and the other entities. A company must protect and nurture
the ethical standards and make no compromises to achieve expedient solutions that could damage its
reputation.

The ethical issues associated with finance are not centrally concerned with the morality of making
money but much more with why and how money is made.

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