How to Describe Schools of Ethical Thought

School of ethical thoughts is classified on different methods. Three primary schools of thoughts based on contemporary ethics are deontology, consequentialism and virtue ethics. Deontology means doing the required thing to solve in a situation without considering the consequences of the action that is done. The effects may end up in merits like profit or demerits involving losses made by a business (Biggar and Black, 2017).

Virtue ethics deals with good morals in the industry, and this is essential to attract customers to the company. When advertising a product the person who does the advertisement should dress neatly and have excellent communication skills to attract customers. Consequentialism evaluates the morality and actions towards achieving the goal of the company. It’s essential in decision making for the industry to consider the consequences of every action that is taken. The chances that any problem may arise from taking action by people in performing any transaction should be considered and acted upon by the stakeholders (Onorato and Walsh, 2016).

Another classification that is also important and this started a long time ago which divides it into justice which means being fairness, equality and the need or truth itself. The second one is virtues that deal with ensuring morality that is someone portraying good attributes of behavior in their places of work such as dressing well, having etiquette when attending business meetings. The next being rights and duties and in different locations such as a business people have rights on owning shares and can withdraw anytime they wish to. Responsibilities and duties must be done by the individuals in the business for success (Martini and Spataro, 2018).

References

Biggar, N., & Black, R. (2017). The revival of natural law: philosophical, theological and ethical responses to the Finnis-Grisez school. Rutledge.

Martini, A., & Spataro, L. (2018). The Principle of Subsidiarity and the Ethical Factor in Giuseppe Toniolo’s Thought. Journal of Business Ethics, 153(1), 105-119.

Onorato, M., & Walsh, L. (2016). An empirical study of ethical sensitivity in a business school environment. Academy of Business Research Journal, 1, 50.