Question

Different Perspectives on the Role of Ethics in Business and Society. Discuss both the role of ethics in society and also some of the different approaches to ethics that have been proposed by moral philosophers and moral psychologists.( with references )

Answer 1

Ethics play an important role as far as society is concerned:

• It ensures that the right path is adopted while executing the work.
• It instilled trust and credibility
• It increases the market reputation of the organisation.
• It improves the relationship among people and hence executing tasks become easier.
• It has been observed that since the direction of command is clear and as per ethics, it increases the productivity as well.

Some of the most common approaches to ethics are Utilitarian approach, the rights approach , virtue approach etc. Utilitarian approach says that there should be a balance maintained such that the good takes over the bad and ethical outcomes are achieved, also rights approach says that there are various rights that human beings have and each one has the freedom to practice their rights.

Answer 2

Ethics play an important role as far as society is concerned:

• It ensures that the right path is adopted while executing the work.
• It instilled trust and credibility
• It increases the market reputation of the organisation.
• It improves the relationship among people and hence executing tasks become easier.
• It has been observed that since the direction of command is clear and as per ethics, it increases the productivity as well.

Some of the most common approaches to ethics are Utilitarian approach, the rights approach , virtue approach etc. Utilitarian approach says that there should be a balance maintained such that the good takes over the bad and ethical outcomes are achieved, also rights approach says that there are various rights that human beings have and each one has the freedom to practice their rights.