Only the individuals self-interest and values are relevant for judging his or her behavior. | Ethical Relativism: A Self-Interest Approach. The Journal of Values-Based Leadership - Valparaiso Basically, the possessor of good character is moral, acts morally, feels good, is happy, and flourishes. Marques, Joan <<77326D38A9B4B2110A000018C493FC7F>]/Prev 592216>> At the same time, each one has a logic. WebUniversalism is the philosophical and theological concept that some ideas have universal application or applicability. endobj This principle, as with universalism, can always be used when individuals, groups, and nations are involved in decisions that may violate or harm such rights as life, liberty, the pursuit of happiness, and free speech. Followers of this principle can become absolutists and true believersmany times believing and following their own ideology and beliefs. Freeman's stakeholder theory, on the other hand, is seen as being on the other end of the continuum, arguing for selflessnessanother misinterpretation, as I argue with Ed Freeman's help. Recent Governance Reforms: An Executive Summary, 13. Profiles of leaders and organizations policies, practices, perks, diversity, compensation, and other statistics regarding employee welfare and benefits can be reviewed. A. developing a consensus among companies worldwide as to what ethical principles that businesses should be expected to observe in the course of conducting their operations. JVBL To get a sense of individual rights in the workplace, log on to one of the Best Companies to Work For annual lists (http://fortune.com/best-companies/). Virtue ethics is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. WebIt has these characteristics: (1) universality, because it applies to all acts of human behavior, even those that appear to be done from altruistic motives; (2) objectivity, meaning it operates beyond individual thought, desire, and perspective; (3) rationality, because it is not based in metaphysics or theology; and (4) quantifiability in its > It recognizes that decisions about right and wrong can be difficult, and may be related to individual context. Dec 12, 2022 OpenStax. According to the Union Internationale des Avocats, an international, nongovernmental association of legal professionals, corruption corrodes the democratic principles of accountability, equality, and transparency. On their list of values, corporate responsibility to the public is among the top ones. At the organizational and societal levels, laws, regulations, and oversight can go a long way Compliance can be an immense task for industries like aerospace, pharmaceuticals, banking, and food production, due to the large number of employees involved, the certification of them that sometimes is necessary, and the requisite record keeping. It is an orientation that many use quite frequently. WebUniversalism: broadmindedness; wisdom; social justice; equality; a world at peace; a world of beauty; unity with nature; protecting the environment; inner harmony Benevolence: helpfulness; honesty; forgiveness; loyalty; responsibility; friendship Tradition: accepting one's portion in life; humility; devoutness; respect for tradition; moderation Practical wisdom, however, is often required to be virtuous. Becoming familiar with these principles, then, can help inform your moral decision process and help you observe the principles that a team, workgroup, or organization that you now participate in or will be joining may be using. 5 terms. Ethics Theory and Business Practice 2 x 7 = 14 a. Applying this principle is related to a quick test before acting or making a decision by asking, What would my best self do in this situation? Others ask the question inserting someone they know or honor highly.
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