Business Ethics Terms

"Only 1 thing is good"

Hedonism: Genusssucht. One's pleasure is the ultimate good or moral end.

• Quantitative: More pleasure is better
• Qualitative: It is possible to get too much of one thing

Not all monists are hedonists!

Two or more things are good.

Bsp: Non-hedonists.

Deal with problems in a sensible way that suits the conditions that really exist, rather than following  fixed ideas, theories, or rules.

Focus on the end result of actions and the goodness or happiness created by them.

Emphasizes the means (Mittel)  and motives by which actions are justified.

Examples: Teleology, Deontology

Consequentialism (based on consequences).

Stipulates acts are morally right or acceptable if they produce some desired result, such as realization of self-interest or utility.

Examples: Egoism, Utilitarianism

part of Teleology / Consequentialism.

Defines right or accaptable actions as those that maximize a particular person's self-interest as defined by the individual.

Enlighted Egoism: Allows the well being of others, but self-interst remains paramount.

part of Teleology / Consequentialism.

Defines right or acceptable actions as those that maximize total utility, or the greates good for the greatest number of people.

• Rule utilitarianism: Determine behavior on basis of principles, rules, designed to promot the greates utility.
• Act utilitarianism: Examine specifiv action itself, rather than the general rules governing it.