Utilitarian View of Ethics in Business Decision Making

Running head: BUSINESS ETHICS
Business Ethics

BUSINESS ETHICS 1
This thesis will support the utilitarian view of ethics. The utilitarian views of ethics
are most influential and best-known moral theory. The Utilitarian view suggests that it makes
life better by increasing the good things and by decreasing the bad things. The utilitarian
approach is more realistic in decision making in business as it takes a large number of people
interest into account. Theories of virtue ethics and principles and rights-based ethics have a
different view for the decision-making in business. In this essay, arguments will support the
utilitarian view of business in decision-making and will analyse that why the utilitarian view
is better than the views of principles and rights based ethics and virtue ethics.
Principles and rights-based ethics are concept of ethics. It states some of the rights
such as convention and natural rights; these rights have been provided to every individual.
The person can make a decision by his choice and he has every right such as right to life and
liberty. One can take the decisions without any encumbrances. This theory suggests that the
right ethical approach shall be used. The companies use this approach to achieve their vision
and mission (Tsoukas, 2017).
This theory had been mainly proposed by Aristotle. Virtue ethics are a thoughtful
reflection that what we ought to do. In modern business, there is a need to implement moral
values in the decision making of business. Virtue ethics has also stated that every individual
has some basic rights that cannot be infringed. This approach has been commonly known as
old business approach and therefore modern business avoid these approaches (Overby & Lee,
2006).
Utilitarianism ethics has opposite view than principles and rights-based ethics. The
Utilitarianism ethics has maintained a standard of minimum moral behaviour in decision-
making that must be developed. Utilitarianism has the view that the economic goods and
services should be equally distributed. It also states that sometimes it becomes necessary to
sacrifice one for a large number of peoples benefit. The principles and rights-based ethics
have the opposite viewpoint that it does not think for the benefit of a large number of peoples
but it argues for every person right (Jones, Reynolds, & Arnold, 2006).
Utilitarianism ethics has opposed views of virtual ethics as it states that good results
should be achieved by the good things like taking good decisions. The action should be done
to achieve or accomplish the achievement of happiness for the maximum peoples. It also
opposes the views of virtue ethics because sometimes happiness has been achieved from the
bad outcomes. Virtue theory is prominent in decision-making and therefore the utilitarian and