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THEORIES A major limitation when using this principle is, Who determines what the common good is in situations where two or more parties differ over whose interests are violated? In individualistic and capitalist societies, it is difficult in many cases for individuals to give up their interests and tangible goods for what may not benefit them or may even deprive them. One model of ethical behavior, sometimes called the humanistic business model, may provide the answer for businesses that wish to achieve the dual goal of human flourishing and responsible profits. b. Differentiate "ethics" and "values". Although ethical practice has been directly influenced by religion, as noted, ethics is not religion and religious belief is not a prerequisite for a commitment to business ethics. Principles help inform and influence values. For example, South Africas all-white National Party and government after 1948 implemented and enforced a policy of apartheid that consisted of racial segregation. As an Amazon Associate we earn from qualifying purchases. It also involves religion mandates and existing moral codes. Universalism OpenStax is part of Rice University, which is a 501(c)(3) nonprofit. 0000016028 00000 n universal First, some individuals may disagree about who is virtuous in different situations and therefore would refuse to use that persons character as a principle. Are there human values that apply everywhere despite differences in time, place, and culture (Figure 5.7)? Why or why not? (4) Who has to pay for the consequences? Those documents revealed that there were doubts the war could be won while thousands of young Americans continued to die fighting. It is interesting to reflect on how many corporate disasters and crises might have been prevented had the leaders and those involved taken such questions seriously before proceeding with decisions. Images. If you need friends or relationships in the government bureaucracy in order to get your imports cleared or your license extended, then that means particularism. Theories of Business Ethics. The universalizability theory holds two significant views. The Concept of Ethical Business in Ancient Athens, Ethical Advice for Nobles and Civil Servants in Ancient China, Comparing the Virtue Ethics of East and West, Utilitarianism: The Greatest Good for the Greatest Number, Ethical Decision-Making and Prioritizing Stakeholders, Three Special Stakeholders: Society, the Environment, and Government, Corporate Law and Corporate Responsibility, Sustainability: Business and the Environment, The Impact of Culture and Time on Business Ethics, The Relationship between Business Ethics and Culture, The Workplace Environment and Working Conditions, Contributing to a Positive Work Atmosphere, Criticism of the Company and Whistleblowing, Recognizing and Respecting the Rights of All, Accommodating Different Abilities and Faiths, Animal Rights and the Implications for Business, Ethical Issues in the Provision of Health Care, Changing Work Environments and Future Trends, Alternatives to Traditional Patterns of Work, Robotics, Artificial Intelligence, and the Workplace of the Future, Business Ethics in an Evolving Environment, Making a Difference in the Business World, Profiles in Business Ethics: Contemporary Thought Leaders, The pursuit of happiness is as near a universal human trait as we can find.