Business Ethics
Discuss how the ethical scenario in consideration can be analysed within the framework of 2 principal ethical theories. How do the theories support your views, or not as the case may be? Discuss the strengths and weaknesses of the theories in the context of the ethical scenario in your selected company.
• Introduction
• Description of theories chosen
• Director’s Loans
• The Anglo Tapes
• Strengths and Weaknesses of theories
• In context to Anglo
Business Ethics - Anglo Irish Bank
The business scenario I have chosen for this assignment is the behaviour of Anglo Irish bank between 2000 and 2008. There are different ethical scenarios that play out across the business during this time. In this …show more content…
The scenario fits in to the two ethical theories I have described, Utilitarianism and Ethics of Duty. The main pretense of utilitarianism is that a decision is made based on the consequences of it. The decision of these Anglo staff to lie to the financial regulator and ministers led to the nationalization of Anglo at a massive cost to the taxpayer. Fitzgerald, Bowe and Drumm were all very aware of the immediate of future costs of their actions. This was clear to see by the way they tricked the state into the €7bn loan knowing well that it was nowhere near enough. Their decisions only benefitted them for a short period of time as the nationalization came not long after the phone calls allegedly took place. The cost to the taxpayer was huge at the time and is still large to this day, the state hasn’t fully recovered from the banking crisis in which Anglo was one of the main culprits. Taking this theory into account the decisions the three men made were morally wrong and highly …show more content…
This is a common sense human value. The utilitarianism theory is easy to use, humans are brought up to gauge the consequences of their actions, be they positive or negative. An advantage of the theory overall, not just Bentham and Mill’s version, is that it has been improved over time. Utilitarianism of today is much better than Bentham and Mill’s theory. The theory also deals with the intention problem, the consequences of an action can be bad but once the initial intention is to do the greater good then the action can be deemed
Discuss how the ethical scenario in consideration can be analysed within the framework of 2 principal ethical theories. How do the theories support your views, or not as the case may be? Discuss the strengths and weaknesses of the theories in the context of the ethical scenario in your selected company.
• Introduction
• Description of theories chosen
• Director’s Loans
• The Anglo Tapes
• Strengths and Weaknesses of theories
• In context to Anglo
Business Ethics - Anglo Irish Bank
The business scenario I have chosen for this assignment is the behaviour of Anglo Irish bank between 2000 and 2008. There are different ethical scenarios that play out across the business during this time. In this …show more content…
The scenario fits in to the two ethical theories I have described, Utilitarianism and Ethics of Duty. The main pretense of utilitarianism is that a decision is made based on the consequences of it. The decision of these Anglo staff to lie to the financial regulator and ministers led to the nationalization of Anglo at a massive cost to the taxpayer. Fitzgerald, Bowe and Drumm were all very aware of the immediate of future costs of their actions. This was clear to see by the way they tricked the state into the €7bn loan knowing well that it was nowhere near enough. Their decisions only benefitted them for a short period of time as the nationalization came not long after the phone calls allegedly took place. The cost to the taxpayer was huge at the time and is still large to this day, the state hasn’t fully recovered from the banking crisis in which Anglo was one of the main culprits. Taking this theory into account the decisions the three men made were morally wrong and highly …show more content…
This is a common sense human value. The utilitarianism theory is easy to use, humans are brought up to gauge the consequences of their actions, be they positive or negative. An advantage of the theory overall, not just Bentham and Mill’s version, is that it has been improved over time. Utilitarianism of today is much better than Bentham and Mill’s theory. The theory also deals with the intention problem, the consequences of an action can be bad but once the initial intention is to do the greater good then the action can be deemed