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Moral Analysis and Ethical Duties Business Ethics: What Does It Really Mean? Business Ethics:Today vs. Earlier Period Society’s Expectations of Business Ethics Ethical Problem Actual Business Ethics Ethical Problem 1950s Time Early 2000s Philosophy: The study of thought and conduct Moral philosophy: The study of proper thought and conduct “How we should think and ought to behave” Subjective (emotion) vs. Objective (reason) Subjective norms (personal/emotional) vs. objective (universal/reasoning) Objective/Universal Norms 1-External law 2-Personal virtue 3-Utilitarian benefit 4-Universal duties 5-Distributive justice 6-Contributive justice Ethics, Economics, and Law Three Models of Management Morality • Moral standards of behavior are said to be subjective and personal. Ethical principles of analysis are said to be objective and universal. What makes them objective and universal, and why is that important? • Why does the Golden Rule appear in almost all of the world's religions? Is it because this concept has been verbally transmitted from one religion to the next, or does it represent some basic feature in the human character? • The ancient Greek philosophers believed that the goal of human existence was the "active, rational pursuit of excellence". Do you accept that as the goal of human existence? If not, what in your view should be the goal of human existence? • The Utilitarian principle claims that we should always select the alternative with the greatest net social benefit (excess of good over harm). That seems simple, but in reality it is complex. What makes it complex? • If you were asked to defend the ethical principle that we should never harm the least amongst us, those with least income, education and power to influence events, how would you do so. Why should people accept that as an objective and universal rule of conduct?