Thursday, November 21, 2013

Philosophies Used in Business Decisions




Teleology: Assumes that final causes exist in nature and stipulate that acts are morally right or acceptable if they create some anticipated result.

Egoism: Concentrates on the individuals and try to maximize a particular person’s self-interest.

Utilitarianism:  Defines right or acceptable behavior that maximizes greatest good for everybody.

Deontology: Concentrates on intentions rather that on its consequences.

Relativist: Focuses on the basis of individual and group experiences subjectively.

Virtue ethics:  Characterizes an acquired disposition that is valued as part of individual’s personality.


Justice: Assesses ethicalness on the foundation of fairness.

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