Vision of an Ethical Business-(answering the question-what is an Term Paper

Vision of an Ethical Business-(answering the question-what is an ethical business) - Term Paper Example he controversies regarding the moral responsibilities and ethical considerations in the decision making process are the inherent challenges that must be understood in the wider perspectives of business’ vision and mission. The paper would thus, be discussing the most crucial aspects of an ethical business. Consequentialist ethics is defined as the acts or behavior that is determined by the consequences of that act or behavior which generally must be beneficial in content. ‘The principle of utility states that an action is right if it produces the greatest balance of pleasure or happiness and unhappiness in light of alternative actions’ (reading 1, p 3). Popularized as act utilitarian theory, the actions, that are designed to benefit or have beneficial cascading effects on others, are morally and ethically right. Benthams theory is important because it promotes morally correct ethical actions that are designed to maximize happiness for maximum people. According to Act Utilitarian of Jeremy Bentham, an action that results in the happiness of one and all is a good act. Bentham and other utilitarians like Mills found it a revolutionary theory because it reflected ‘human motivation†¦ and it had dear application to political and social problems of their time’ (Reading 1, p 4). In the contemporary times, it becomes highly difficult because of the diverse ideologies and differing value system to satisfy large populace. Indeed, it is one of the crucial compulsions of the globalization that people should strive towards common goals of universal values. Emmanuel Kant believed that the principle of ‘categorical imperative’ can govern all human beings and can be broadly defined as Rules of Universality and Rules of Respect (Reading 1, p 7). The first one makes says that people at all time must act appropriately and the second rules promotes the value of respect and says that well being al all individuals is important and therefore, one should not use others