Concept

What philosophies and concepts shape personal ethical standards?

IntroductionToBusiness OP 8D04gAa / Glossary

"Ethics is a set of moral standards for judging whether something is right or wrong. A philosophy in which a person will follow his or her obligations to an individual or society because upholding one's duty is what is ethically correct is deontology. A situation where a person must choose from a set of actions that may be ethical or unethical is an ethical issue. What is considered fair according to the prevailing standards of society; an equitable distribution of the burdens and rewards that society has to offer is justice. A philosophy that focuses on the consequences of an action to determine whether it is right or wrong; holds that an action that affects the majority adversely is morally wrong is utilitarianism. A utilitarianism approach to setting personal ethical standards focuses on the consequences of an action taken by a person or organization. According to this approach, people should act so as to generate the greatest good for the greatest number. Every human is entitled to certain rights such as freedom and the pursuit of happiness. Another approach to ethical decision-making is justice, or what is fair according to accepted standards."

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