A Business Encyclopedia

Ethical Theories

Definition: The Ethics is the branch of philosophy that deals with the principles of morality and the well-defined standards of right and wrong that prescribe the human character and conduct in terms of obligations, rights, rules, benefit to society, fairness, etc.

In other words, the ethics encompass the human rights and responsibilities, the way to lead a good life, the language of right and wrong, and a difference between good and bad. This means it is concerned with what is right or wrong for the individuals and society. The term “ethics” have been derived from the Greek word “ethos” which means character, habit, disposition or custom. Several philosophers have propounded different types of ethical theories which are listed below:

  1. Teleological Ethical Theories
  2. Deontological Ethical Theories
  3. Virtue Ethical Theories
  4. System Development Ethical Theories

Further, ethics can be classified into three major study areas:

  • Meta-ethics is concerned with the theoretical meaning of morality and ethical principles, i.e. what we understand when we talk about what is right or wrong.
  • Normative ethics deals with the content of moral judgments i.e. determining the moral course of action and includes the criteria for what is right or wrong, good or bad, kind or evil, etc.
  • Applied ethics is concerned with the actions which a person is obliged to perform in a particular situation.

Thus, ethics are the well-defined standards that impose obligations to refrain human beings from any misconduct, which could be harmful to the self as well as for the society.

Leave a Reply

Your email address will not be published. Required fields are marked *


Related pages

seven c s of effective communicationdefinition of subordinatesprovident fund definationjob instruction training methodlikert's leadership stylescientific management theory examplesmcclelland's need theory of motivationaoa meaningqueuing system definitionwhat is the definition of elasticity of demandwhat is brand salienceholistically meansfounder of cognitive theoryparticipative management definitionvoluntarily unemployedkeynes theory of inflationoperant conditioning theory7cs of communication examplesmodigliani miller dividend irrelevance theorywhich would be defining characteristics of pure monopolydifferentiated oligopolyvictor vroom motivation theorypavlov classicalbarometric definitionmultiplier process economicsequity carve outconflict defmonopolistic competition defineformula to calculate inventory turnover ratiothe substitution methodwhat is travellers chequeethnocentric perspectivesematic differentialdiscounting and rediscounting of billswhat does underemployed meanmax weber bureaucratic organizationrevitalization meaningdeterminants elasticity of demandmkis marketingmeaning of pausesnorming definitionforeign exchange speculationmeaning of cardinal utilitydefinition stressorequity carveoutdefinition of appraisal systemhorizontal integration definition examplewhat is the definition of ethnocentricwhat is the definition of primalwhat is cluster sampling in statisticsexplain informal communicationmonetizing the debt definitionherzberg hygiene motivation theorysensitivity training definitionmarket development ansoff matrixclassical conditioning termsthe meaning of ethnocentrismnon convertible debentures meaningdefinition of quota samplingvam methodwhat are the determinants of demand elasticityideal inventory turnover ratiowhat is involuntary unemploymentexternal whistleblowingstratified sampling strategyadvantages and disadvantages of equityhenri fayol management principlesfactors influencing buying behaviordefinition of a sole proprietorshipbudgeting processesutility analysis economicsdefinition of microfinance bankdifferential def