Question

Provide real-world examples of businesses that follow the three Ethical Schools of Thoughts.

1) The School of Ethical Universalism

2) The School of Ethical Relativism

3) Ethics and Integrative Social Contracts Theory

Answer 1

1) The School of Ethical Universalism

According to this concept, there are some standards or ethical principles which are universal all around the world. They transcend different countries, culture and belief systems.

Example - Conducting business honestly and providing no harm to the stakeholders like the employees are ethical standards and have to be followed by any business in the world.

2) The School of Ethical Relativism

According to this concept, there are some ethical principles which vary from region to region and culture to culture and the business operating in a particular country has to take into account the local sentiments while conducting its business there.

Example - While some countries have strict rules against bribery and environmental protection, some don't. Therefore, it is upon the company to decide the principle of its operations in a particular region and to make sure that while they abide by the rules and regulations of the area.

3) Ethics and Integrative Social Contracts Theory

According to this concept, a company should try to uphold a combination of both the standards of Ethical universalism and Ethical relativism and decide which standards would form the backbone of its operations.

Example - While many companies uphold honest dealings in their business, few implement environemnt protection as well. This is a combination of both the ethical school of thoughts.