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Essay / Research Paper Abstract
This is a 5 page paper discussing the ethical approaches of utility, rights, justice and care and their use in the decision making process of oil exploration in protected wildlife areas. The ethical approaches of utility, rights, justice and care are used when making business decisions. In the decision making process of oil companies in regards to exploration of protected wildlife areas, companies which originally employed the approach of utility without consideration of the ideals of rights, justice and care are now being considered as globally irresponsible and this has an impact on their bottom line and reputation. Oil companies now must balance the decision making process with ethical components from all approaches in that the approaches of rights, justice and care may have to be considered foremost in order for them to have a positive impact on utility and overall benefit for the company, its employees and the global population which depends on the refinement of oil as its energy source.
Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: D0_TJoilex1.rtf
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Unformatted sample text from the term paper:
of protected wildlife areas, companies which originally employed the approach of utility without consideration of the ideals of rights, justice and care are now being considered as globally irresponsible and
this has an impact on their bottom line and reputation. Oil companies now must balance the decision making process with ethical components from all approaches in that the approaches of
rights, justice and care may have to be considered foremost in order for them to have a positive impact on utility and overall benefit for the company, its employees and
the global population which depends on the refinement of oil as its energy source. There are basically four different approaches used to argue
ethical construct in business: namely, the utilitarian approach; those of rights; justice; and, those which are care and virtue based. The moral considerations used in the utilitarian approach although sometimes
assumed to be based on economic profit-loss calculations more often than not include the differences that "(1) the profits and losses at issue are not monetary but intrinsic cost and
benefits, [and] (2) the costs and benefits not just for the agent but for everyone are considered" (Hauser, 2002; Velasquez, 2001). Historically, Jeremy Bentham who originated the utilitarian approach, thought
of the balance to be considered to be between "pleasures" and "pains" while John Stuart Mill changed the balance to one between "happiness" and "unhappiness" and also originated the idea
of "the greatest happiness for the greatest number". Modern day economists however who use the utilitarianism approach tend to think in terms of "interest satisfactions" and "dissatisfactions" but generally, the
approach is criticized for its focus on consequences of action and not on the considerations of rights and justice (Hauser, 2002; Velasquez, 2001).
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