Moral Responsibility In Business Analysis
Moral responsibility concerns action and consequences. It refers to the duty that businesses have to act in accordance with the moral principles that are important to social communities and society as a whole. Business is concerned with what is important to people’s lives, this is fundamentally a moral activity. One could argue this makes them moral agents. This implies that business, like people, should then be held to moral standards. However, there are many nuances that must be understood to dive deeper into the notion of moral responsibly (Ferrell, p. 187).
Businesses are no longer isolated social enterprises. They are important social entities that …show more content…
Utilitarianism commands that a decision to act or not to act should be directed towards producing the greatest good for the greatest number of people. Occasional injury to individuals is therefore an acceptable risk. This is the crux of cost-benefit analysis, which encourages one to consider the cost/benefit of an action in terms of greatest social utility (Sinnot-Armstrong, 2015). This kind of analysis leads to systematic thinking about decision-making. It could be useful for some decisions, but may also create an ethical slippery slope (Armstrong, 2015). Wouldn’t focusing on highest social utility ignore many ethical dimensions of an