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Normative ethics is the study of ethical behaviour and is the branch of philosophical ethics that investigates questions regarding how one ought to act, in a moral sense. Normative ethics is distinct from meta-ethics in that the former examines standards for the rightness and wrongness of actions, whereas the latter studies the meaning of moral ...
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
Examples of a company's internal and external stakeholders Protesting students invoking stakeholder theory at Shimer College in 2010. The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. [1]
Applied ethics – using philosophical methods, attempts to identify the morally correct course of action in various fields of human life.. Economics and business Business ethics – concerns questions such as the limits on managers in the pursuit of profit, or the duty of 'whistleblowers' to the general public as opposed to their employers.
In moral philosophy, deontological ethics or deontology (from Greek: δέον, 'obligation, duty' + λόγος, 'study') is the normative ethical theory that the morality of an action should be based on whether that action itself is right or wrong under a series of rules and principles, rather than based on the consequences of the action. [1]
Moral particularism is a theory in normative ethics that runs counter to the idea that moral actions can be determined by applying universal moral principles. It states that there is no set of moral principles that can be applied to every situation, making it an idea appealing to the causal nature of morally challenging situations.
Metaethics is a metatheory that operates on a higher level of abstraction than normative ethics by investigating its underlying assumptions. Metaethical theories typically do not directly judge which normative ethical theories are correct. However, metaethical theories can still influence normative theories by examining their foundational ...