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Ethics

That notwithstanding, the emphasis of business ethics attracts many potential employees as well as investors to the organisation because such stakeholders always want to be associated with organisations that observes ethical business practices (Mitchell, 2009).
Jeremy Bentham was a renowned philosopher, social reformer and jurist who came from England. He lived from1748 to 1832. Through his entire life, he was determined in transforming the English legal system by coming up with more comprehensive legal apparatus that took into consideration all aspects of the fundamental rights of the people. Bentham is a significant figure in philosophical ethics given the enormous contribution that he made, which shaped what is regarded as the modern utilitarianism. Most of his scholarly works were founded from the ideologies of Hume, and it is from that perspective that he came up with the principle of utility that is popular in modern times as utilitarianism. According to Bentham, everything that happens in the world occurs with two motives either to cause pain or happiness. The acts that cause pain are undesirable, and thus people tend to avoid them since they cause discomfort to those involved. On the other hand, acts that cause happiness are regarded as pleasant, and they result in good for the greatest number of people. Thus, from this analogy the modern principle of utilitarianism that states “any act that is done should result in goodness for the greatest number of people” came into existence (Cory, 2005).
Bakan argues that organisations are designed in a manner that they are bestowed with the privileges of an artificial person but through their power, influence, and great financial ability they these same rights that have been granted to them. The personality of a psychopath can be elaborated from four major points of view. To begin with corporations are irresponsible, they can do whatever it ...Show more

Summary

It is indeed crucial for business organisations to uphold ethical practices since the modern world of business focusses entirely on an organisation’s commitment to ethical practices. With business ethics…
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