Psychological Understanding of Moral Judgment and its Impact on Normative Approaches to Business Ethics

Management ethics

Do psychological understandings of moral judgment make normative approaches to
business ethics obsolete?

Table of Contents
Introduction................................................................................................................................4
Business Ethics along with normative approach........................................................................4
Psychological understanding of moral judgment.......................................................................5
Impact of psychological understanding of moral judgment on the normative approach to
business ethics............................................................................................................................6
Conclusion..................................................................................................................................8
References................................................................................................................................10

Introduction
It is an undeniable fact that empirical moral psychology has enhanced to another level with
new experimental methods which assists in the unprecedented assessment of moral judgment
in business. The same has been done with the assistance of normative ethics which is a
distinctive approach for resolving queries relating to business ethics issues. The present study
emphasizes on discussion relating to the statement of whether psychological understandings
of moral judgment make normative approaches to business ethics obsolete. In order to assess
the same in detail manner, business ethics with a normative approach has been discussed in
order to provide a base. Further, psychological understanding of normative approach along
with its impact on business ethics has been analyzed in detail manner in order to provide an
appropriate opinion.
Business Ethics along with normative approach
Business ethics can be referred to as a kind of professional ethics or applied ethics which is
also called as corporate ethics. Corporate ethics assists in examining the ethical and moral
standards as well as ethical issues which might arise in corporate surroundings (Crane, and
Matten, 2016). The concept of business ethics is brief, yet on the other hand, it can be in
misleading in various ways as well as a label for interdisciplinary sectors which comprises
normative problems of commerce to a significant extent. The label itself is used by for the
important set of questions regarding the behaviour of the people that must be in the world of
business while dealing with moral dilemmas at work (Crockett, 2016). Moreover, what
standards and moral they ought to be a plea in terms of discussing moral dilemmas at the time
of working are also comprised in it. Business ethics is a wide approach that includes the
examination of appropriate corporate strategies and operations concerning potentially
contentious problems like insider dealings,
business governance,favouritism,corruption,fiduciary liabilities as well as corporate social
responsibility (De Cremer, and Vandekerckhove, 2017).
Normative ethics is a part of ethics or moral philosophy, whose major consideration is on the
decisive factor that what ethically correct and incorrect. In normative ethics implementation
of ethical rules straightimpact on the individual’s proceedings, establishment as well as
conducts of life in the manner they should be (Ferrell, and Fraedrich, 2015). The major