Ethical Issue in the World of Business
Instructions
Final project: The final project paper should be 15 pages long, double-spaced, well written, free of grammatical errors, etc. Your font size should be no larger than 12 (Times New Roman), with one-inch margins on all sides of the paper. Students will choose their own topic (approved by the instructor). The paper should cover a relevant ethical issue in the world of business and/or society, pros and cons, potential responses to the issue, consequences of actions, etc. and a discussion how you would respond to the issue. It is expected that the ethical issue you choose will be well researched, with relevant information to explain the issue, its importance, potential responses, and a well-developed argument as to why you would respond the way you do. Preferably, the topic chosen is one of interest to the student, either related to your major or otherwise. Also, class time has been allocated for each student to present an overview of his or her paper, so the whole class can discuss and examine each issue. The paper must be properly referenced, or it will be returned, and it will then be considered “late”.
A Snapshot of Key Ethical Theories
Ethical theory serves as the foundation for ethical solutions to the difficult situations people encounter in life. In fact, for centuries, philosophers have come up with theoretical ways of telling right from wrong and for giving guidelines about how to live and act ethically.
- The Golden Rule: Do Unto Others As You Would Have Them Do Unto You
- Universal ethics: Actions that are taken out of duty and obligation to a purely moral ideal rather than based on the needs of the situation. Universal principles are seen to apply to everyone, everywhere, all the time.
- Ethical Relativism: Concept that the traditions of your society, your personal opinions, and the circumstances of the present moment define your ethical principles. This concept implies some degree of flexibility as opposed to strict adherence. It offers the comfort of being a part of the ethical majority in the community or society.
- Virtue ethics: states that character matters above all else. Living an ethical life, or acting rightly, requires developing and demonstrating the virtues of courage, compassion, wisdom, and temperance. It also requires the avoidance of vices like greed, jealousy, and selfishness.
- Utilitarianism: Holds that the amount of happiness and suffering created by a person’s actions is what really matters. Thus, acting rightly involves maximizing the amount of happiness and minimizing the amount of suffering around you. Sometimes you may even need to break some of the traditional moral rules to achieve such an outcome.
- Kantianism: emphasizes the principles behind actions rather than an action’s results. Acting rightly thus requires being motivated by proper universal principles that treat everyone with respect. When you’re motivated by the right principles, you overcome your animal instincts and act ethically.
- Contract theory: proposes thinking about ethics in terms of agreements between people. Doing the right thing means abiding by the agreements that the members of a rational society would choose. So for contract theorists, ethics isn’t necessarily about character, consequences, or principles.
- Care ethics: Focuses ethical attention on relationships before other factors. As a result, acting rightly involves building, strengthening, and maintaining strong relationships. Acting rightly thus displays care for others and for the relationships of which they are a part. To care ethicists, relationships are fundamental to ethical thinking.
How Ethical Thinking Applies to Real Life
Studying ethics can help you arrive at clearer positions and arguments on real life issues — and can help you apply them, too. In fact, thinking more about ethical theory may even change your mind about issues in today’s world. Here are some ways you can apply ethics to your life:
- Consider how you interact with animals. Some folks may think animals don’t ethically matter. However, most ethical theories disagree. So before you abuse a dog, take a bite out of that next steak, or raise cattle inhumanely, you have to consider some ethical arguments. After all, animals feel pain and suffer just like humans. Perhaps this possibility of pain and suffering entitles them to rights and considerations that you’re ethically expected to respect.
- Be kinder to the environment. People typically see recycling or using certain kinds of household products as neutral lifestyle choices. However, ethics may actually demand a particular sort of interaction with the world around you. Sawing down a tree is innocent enough, but when you think of trees as parts of ecosystems that keep humans alive, things become less clear-cut.
- Respect and defend human rights. What are the basic things to which humans are entitled just because they’re humans? This question forms the basis of an inquiry into human rights. Ethics has a lot to say about what those rights are, who has them, and why. Many 21st century debates about torture, genocide, women’s rights, free speech, and welfare all focus on human rights
- Become more ethical in your career. Ethical professionals are better professionals. Lawyers, engineers, doctors, accountants, and journalists must avoid conflicts of interest and be sensitive to the ethical requirements of their jobs. However, keep in mind that being ethical in your profession can lead to surprising results. Lawyers, for instance, have to defend some pretty shady characters in order to give everyone a fair defense.
- Engage with medical advances. Some of the most contentious ethical problems of today arise in the practice of medicine and with the use of biotechnology. Human cloning, abortion, euthanasia, and genetic engineering challenge long-standing beliefs about human life, identity, and dignity.
Word Count: 4800-4900
No. of Pages: 19