Phi445 Week 1 Journal Essay

1535 Words Mar 10th, 2015 7 Pages
Week One Journal

Objective

You will outline and explain ethical theories and then apply that knowledge to how organizations would function were they to adopt those ethical principles. In addition, you will also examine punishments for corporations and present your own ideas about the relationship between ethical demands on business entities vs. those on individuals in society.

Instructions

In this assignment you will reflect on the topics of Week One and apply them to an analysis of ethical paradigms. You will be asked to respond to two prompts below. The first asks you to explain three of the ethical philosophies you encountered in Chapter 1 of Introduction to Business Ethics, and then determine how companies that abide by
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Utilize this space to gather information and notes that you think will aid in your analysis of business ethics.

Reflection Prompt #1
Summarize three of the ethical theories that are explained in Chapter 1 of Introduction to Business Ethics. Explain how people running businesses would construct their companies if they utilized these ethical theories. For example, you might personally think that people should act to increase the overall happiness for the greatest number of people (utilitarianism). You would explain utilitarianism and then explain how a company based in utilitarian ethics would function. In other words:

▪ What products would they make? ▪ How would they treat their employees? How would they treat their customers? ▪ How would they manufacture their products? ▪ How would they utilize their resources and profits were they to become successful?

1. Virtue Theory is the view that morality is grounded in the virtuous character traits that people acquire we have to not overreact or under react because this in turn will cause a vice. In order to obtain a virtuous trait we have to follow the middle position and between the two extremes of over and under reacting. A corporation based on this theory would make a product that fulfill the need of society. A product I came up with is the 100% electric car. A person could afford more items or pay more on bills because there is no

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