Business ethics Essay Example | Topics and Well Written Essays - 1250 words - 3

Business ethics - Essay Example ctive of the business ethics is to whether the practice of supporting the failing financial institutions through the tax money is morally correct given the fact that financial institutions failed to perform their duties. After the financial crisis of 2008, US and other governments from the developed nations bailed-out their financial institutions by pouring in the public money. This issue created significant moral debate regarding the role of the financial institutions and the government in having allowed the bailing out of the financial institutions. Most of the arguments were based upon the notion that public money should not be spent on those who behaved irresponsibly and are the very cause of the crisis itself. The role of the financial managers in managing the money and engaging into business practices which were risky and speculative was also being deplored. This business ethics issue will therefore be explored from the perspective of the utilitarianism as well as deontology. Both these philosophical theories will be discussed first and applied to this issue in greater details. Deontological ethics are based upon the moral evaluation of the actions based upon whether the actions actually followed or adhered to any rules or not. It is also because of this reason that the deontology is often considered as rule based ethics as it stresses upon the adherence to the rules if any action is to be considered as ethical or not. There are however, different theories of deontology which outline as to how to actually treat an issue from certain perspectives. Kantian ethics of deontology suggests that the morally right way of doing things is as to whether the individuals actually performed from the perspective of the duty or not. Kant also suggests that the morality of actions shall be based upon the motives of the individuals rather than the overall consequences of taking such actions. (Shaw) Utilitarianism however, is an alternative philosophical theory which