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Business Ethics Theories

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Utilitarianism

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A consequentialist theory where actions are judged ethical based on their outcomes, aiming for the greatest good for the greatest number.

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Deontological Ethics

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An ethical theory that stresses the importance of duty and rules and that the morality of an action is based on its adherence to rules and duties.

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Virtue Ethics

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An ethical theory that emphasizes an individual's character as the key element of ethical thinking, rather than rules or consequences.

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Stakeholder Theory

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A theory that management should consider the interests of all stakeholders in the company, not just shareholders.

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Shareholder Theory

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A theory that the primary ethical responsibility of a corporation is to maximize profits for its shareholders.

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Corporate Social Responsibility (CSR)

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A self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

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Justice and Fairness

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Ethical theories that focus on ensuring actions, decisions, and distributions are fair and just to all parties involved.

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Rights Theory

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An ethical theory based on the recognition and protection of fundamental universal rights, such as the right to privacy or free speech.

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Feminist Ethics

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An approach to ethics that is centered on the belief that traditionally ethical theorizing has under-valued and under-appreciated women's moral experiences.

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Contractarianism

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An ethical theory that suggests moral norms arise from the idea of social contracts or agreements among individuals for mutual advantage.

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Consequentialism

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An ethical theory that holds that the consequences of one's conduct are the ultimate basis for any judgment about the rightness or wrongness of that conduct.

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Kantian Ethics

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A deontological ethical theory that argues for actions based on duty and in accordance with universal moral laws or categorical imperatives.

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Business Ethics

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A form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment.

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Normative Ethics

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A branch of ethical philosophy that investigates the set of questions that arise when we think about the question of what one ought to do, morally speaking.

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Ethical Relativism

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The theory that there are no universal moral norms and that ethical truths depend upon the individuals and groups holding them.

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