Summary
Highlights
Ethical theory involves rules and principles for determining right and wrong in any situation. It provides a perspective and helps develop moral reasoning for ethical dilemmas, especially in business where decisions affect customers, employees, and government.
Ethical theories are broadly classified into normative theories (expected moral actions) and descriptive theories (real-world ethical practices). This module focuses on normative theories.
Ethical absolutism prescribes an objective viewpoint for right or wrong decisions, while ethical relativism states that context determines morality, making it subjective. An example contrast is provided with views on abortion and euthanasia.
Normative ethics is categorized into teleological and deontological theories. Teleological theories include egoism and utilitarianism, while deontological theories cover Kantian theory, ethics of duty, and ethics of rights and justice.
Teleological theories, also known as consequentialist theories, base moral judgment on intended outcomes. Egoism prioritizes self-interest, which can cause conflicts. Utilitarianism focuses on actions that lead to maximum benefits and minimum harm (the greatest happiness principle).
Deontological theories, or non-consequentialist theories, emphasize that means are more important than outcomes. Kantian theory proposes that moral action is based on intention, offering three maxims: consistency, human dignity, and universality. The ethics of rights and justice, derived from John Locke, states that fundamental rights include life, freedom, and property, extending to freedom of speech and fair legal process.