A sound ethical principle is one that can be applied to all situations. This means it should not rely on context, but instead remain a consistent and widely applicable value.
In this article, we will explore three sound ethical principles and how they apply to business ethics: utilitarianism, deontology, and virtue ethics.
utilitarianism, deontology, and virtue ethics
Utilitarianism: A principle of ethics that provides the greatest happiness for the most people.
Deontology: The belief in a set of rules or rights and wrongs, regardless of their consequences. In this view, one’s duty to one’s fellow man takes precedence over any other consideration.
Virtue Ethics: In contrast with deontological ethics, virtue ethics is grounded on an individual doing what will bring him or her closer to a particular virtue.
This involves understanding how each person has unique moral struggles as well as strengths and weaknesses; it also means being aware of where we might be lacking in terms of fulfilling our duties and obligations as human beings while still recognizing all that we do meanfully contribute through our actions.