Ethics 0 Business Ethics 1/24/2019 Introduction

Running Head: Ethics 0
Business ethics
1/24/2019

Ethics 1
Introduction
In Part-1, it has discussed about the behaviour of manager in respect of five approaches i.e.
Fairness, rights, common good, virtue, and utilitarian approach. In Part-2, it has been
referring about the multiple sclerosis describing about the consequentialism and properly
medication should be given to the patients (Burgess, 2016). Then lastly, in Part-3, it has been
discussed about the organization assumption to recruit young employees.
Part-1
Elaborate the managers’ behaviour in respect of five approaches and compare each of the
approach committed to the overall benefit.
Ans. There are five different sources of ethical standards, which are mentioned below-
 The Fairness and Justice approach-The Fairness or Justice Approach to ethics has
its roots in the teachings of the Greek theorist Aristotle who said, “Equals should be
treated equally and unequal in an unequal way” (Schwartz, 2016).
 The Utilitarian approach- It is an approach that determines right from wrong by
concentrating on consequentialism. It carries the most ethical consideration, which
will produce the greatest good for the greatest one. It is the most common approach to
moral reasoning utilize in business as it accounts for benefits and costs (Merges,
2016).
 The Virtue approach- This approach deliberates that there are certain ideas for the
advancement of our humanity and acts in the ways that develop our highest potential.
The certain examples are self-control, integrity, fidelity, compassion, honesty,
prudence, fairness, generosity, and courage. A person with the developed virtues
naturally acts in the manner constant with moral principles (Walker, 2018).
 The Rights Approach- It is the second most important approach, which concentrates
on the people’s right to choose for them. It is stated that humans are different from
mere things as their dignity based on their capability to choose freely what they want.
They have a fundamental right to be respected and their choices to be fulfilled
(Cerrutti, 2017).
 The Common Good Approach- It is regarded, as all people are part of a larger
society. This approach focuses to make sure that the social systems, environment,

Ethics 2
social policies, and institutions on which we depend are helpful to all (Paudyal, Baral
and Keenan, 2016).
Overall benefits
There are major ethical approaches, which has the following benefits to be discussed in this
section-
 The Fairness and Justice approach- It normally comes to applying the same
standards, morals in similar conditions. It also decreases the role of biases in decision-
making and treats others in an ethical and good manner (Skarlicki et al., 2016).
 The Utilitarian approach- This approach determines the moral standard and
convictions, which ethically comes from the concept of consequentialism. It permits
the people to represent an action, which is right or wrong. It results in the
consequence of an ethical action, which brings happiness all around (Swart and
Zevenberg, 2018).
 The Virtue approach- This approach brings the spirit of forgiveness and generates a
sense of togetherness, which solves all the conflicts. It also encourages to work
cooperatively and naturally inclined towards biased decision-making. It concentrates
on individuality and growth of moral reasoning.
 The Rights Approach- This approach is significantly beneficial to many large-scale
projects involving human services. This has resulted in a new set of demands and
obligations from business (Cross, 2017).
 The Common Good Approach- This approach assists in developing and maintaining
the common good, which needs the collaborative efforts of all individuals (Wiefek
and Heinitz, 2018).
Part 2
a) The NHS approval of a new drug concentrates on clinical effectiveness or cost-
effectiveness for the patient suffering from multiple sclerosis.
Ans. Multiple sclerosis is a chronic neurologic disease that represents an uncertain course
and has an intense effect on the lives of patients and their families. The main goal is to
manage the disease utilizing disease modification therapies (DMTs), which has been
shown to decrease progression and protect relapses. The NHS approval for a new drug is