The Principle-Based Framework & Utilitarianism In Business
In this paper, I will argue virtue is the best ethical framework to use in business because a company is successful through its leaders, strong virtues can lead to a successful and thriving business. Utilitarianism is one ethical framework that identifies right and wrong decisions on the basis of the outcome and consequences of said decision. It essentially focuses on how the choice will affect stakeholders following the decision. When using this framework, all people involved need to be accounted for to properly make a judgement call.
The scope of affected parties involved vary on the type of decision, and is usually set by the one making the judgement. The minor choices leading up to the powering decision carry a smaller weight of the ethical premise. The ethical choice is purely isolated to the aftermath of the decision. To choose the right moral resolution, you must determine what will give the most pleasure to the most amount of people. An example highly used in politics is war. War sacrifices many soldiers and puts countries in turmoil all for what the decision-makers, i.e. those in office, believe they can achieve from this conflict. Many may lose their livelihoods, but the end result can be prosperous, perfectly grasping the concept of the utilitarianism framework.
The principle/rights-based framework completely differs with utilitarianism. Rather than focusing on the ends, this framework relies on the means. Staying true to its name, this structure focuses on the principles and rights of all human beings. Every person involved has value and dignity, and one cannot be sacrificed for the “greater good”. Undeniable rights must be respected when making decisions using this model. This creates a limit on the “consequences” from a decision. Something may seem like the right thing to do in the long run, however using the principle/rights-based framework, it cannot be morally acceptable if it specifically goes against a person’s right. This may lead to a decision with undesirable outcomes, but the principles and the rights of those involved are maintained, although sometimes a person’s right might be conflicting with another’s. An example is the right to privacy. Governments scared of incoming terror take precautionary steps to stop harm before it occurs. Doing surveillance on its own people violates the privacy laws in the act of protection for said inhabitants. In this situation, you must give the right with the greater merit priority.
Virtues have been around for countless of years, being first theorized by Aristotle. It shifts the question from what we should do, to what kind of person we want to be and what example we want to set in the world CITATION. This ethical framework is used to build great leadership skills and great role models. These traits are used to accomplish meaningful lives, and strong moral integrity. I state that this is the best ethical framework for business decision making due to the fact that it never prioritizes one concept over another, it is “a mean between two extremes” CITATION.
On the scale of ethical framework, it operates in the middle, creating a happy medium between utilitarianism and principle/right-based approaches. Virtues are a mixing pot for the two frameworks. Utilitarianism believes “the greatest good, for the greatest number” CITATION, while principle/right-based believes we should protect rights and perform duties. You may agree with certain aspects of each structure, but may differ with other aspects of them. Being a happy middle, virtues give each individual person the moral option of using many characteristics to determine a final option.
One major advantage over the others is its flexibility in the decision making process. Utilitarianism key challenges is the process of determining how to measure and calculate all the consequences of decisions, and even the principle/right-based approach is no stranger to this struggle. Determining which rights and duties are in fact rights and duties leaves doubts to many. The uncertainties formed throughout the process of using the other two frameworks creates an uphill battle when trying to reach a final decision. Virtues’ flexibility is only swayed with another mindset. Individuals’ virtues vary and some may not be in agreement, but because it questions what kind of person we are, another person cannot question your integrity and soul, leaving little hesitation when making judgement calls. The virtues ethical framework does not oblige to any specific form of scale, making it very desirable.
It is evident, through many scandals, those in charge sometimes operate in self-interest. Virtues help eliminate this factor in decision making. By operating as a person you want to be, more often than not, you would prioritize qualities like sympathy, consideration, and empathy. This would lead to better choices in business and creating higher moral within companies. Good leaders are essential for firms, and virtues are what is required to become one.
