Business Philosophy
Moral decisions In business practices, the decision of an individual who leads the company affects the entirety of the whole. The action of a single decision-making body, especially in hierarchical business structures, leads to the consequence that benefits the company. Nevertheless, it should also be taken into consideration the opinion of others who make the company work.
Decisions and choices follow certain consequences and a business decision can only be considered good if there is also a satisfying effect. In line with the concept of Utilitarianism, it argues that the moral worth of an action depends on its contribution to the good or overall utility which benefits the majority. Therefore, the action's moral is solely dependent by the outcome. Utility is defined as the good to be maximized; good refers to happiness, pleasure or satisfaction.
In business perspectives, the action or decisions made by executives or top-management officers are significant in guiding the company in maximizing profits as well as minimizing expenditures. In making decisions, executives should be guided by the principle of utility in order to produce beneficial results for the company as a whole, which means decisions are only good when it follows the company's principles, vision, and mission. On the other hand, the concept of utility can be also applied with the employee population.
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Business guided by utilitarianism also aims to not only please investors or clients but also the life-force of the company. Decisions made by top-management officials not only affect the company itself but also the status of employees. Thus, there should be a collective effort to produce a beneficial relationship between the company and its employees. In addition, both parties are satisfied and work together toward achieving the common good, defined by the company's vision and mission statement.
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Business Philosophy. (2018, Jan 13). Retrieved from https://phdessay.com/business-philosophy/
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