UTILITARIANISM

What is the meaning of UTILITARIANISM? What the varieties of UTILITARIANISM?

The meaning of UTILITARIANISM is an ethical philosophy in which the happiness of the greatest number of people in the society is considered the greatest good. This philosophy means an action is morally right if its consequences lead to happiness and wrong if it ends in unhappiness.

HAPPINESS     =   PLEASURE AND THE ABSENCE OF PAIN

UNHAPPINESS    =   PAIN AND THE ABSENCE OF PLEASURE

There are two varieties of UTILITARIANISM which are NEGATIVE UTILITARIANISM and MOTIVE UTILITARIANISM.

Negative Utilitarianism is the principle would entail seeking the quickest and least painful method of killing the entirety of humanity. It would seem to call for the destruction of the world even if only to avoid the pain. The negative utilitarianism avoids the problem of moral killing, but still demand a justification for the creation of new lives.

While Motive Utilitarianism means whereas act utilitarianism requires us to choose our actions by calculating which action will maximize utility and rule utilitarianism requires to implement rules which will, on the whole, maximize utility. The argument for moving to some form of motive utilitarianism at the personal level can be seen as mirroring the arguments for moving to some form of rule utilitarianism at the social level.

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BUSINESS ETHICS, CORPORATE AND GOVERNANCE

THE DEFINITION OF BUSINESS

An economic activity, a transaction where an offer is made by the seller and the offer is accepted by a  buyer for a consideration with the hidden agenda of a gain or profit. It also can define as the work of producing goods and trading in them and of buying and selling services. A business is an organization involved in the trade of good, services or both of customers.

References : http://en.wikipedia.org/wiki/Business

THE DEFINITION OF ETHICS

Ethics is a principle that a person or society follows in their daily life.The definition of ethics is the basic concepts and fundamentals principle of right human conduct. It includes study the universal values such as the essential quality of all men and women, human or natural right, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment.

References : http://www.businessdictionary.com/definition/ethics.html

DEFINITION OF BUSINESS ETHICS

The study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Business ethics are often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance.

References : http://www.investopedia.com/terms/b/business-ethics.asp#axzz2JlP6oi7p

OXYMORON

The definition of oxymoron is a figure of speech in which incongruous or seemingly contradictory terms appear side by side, a compressed paradox. It is means why ethics important in doing business. Ethics is concerned with doing the right thing in terms of morals, fairness, respect, caring, sharing, no false promises, no lying, cheating, stealing or unreasonable demand on employees and others. Besides that, business ethics calls for corporate social responsibility and addressing social problem such as poverty, crime, environmental protection, equal rights, public health and improving education. so, we must have ethics in doing our business.


DEFINITION OF CORPORATE GOVERNANCE

The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with its all stakeholders ( financiers, customers, management, employees, government and the community). The corporate government framework consist of :-

1. Explicit and implicit contracts between the company and the stakeholder for distribution of responsibilities, rights and rewards.

2. Procedures for reconciling the sometimes conflicting interests of stakeholders in accordance with their duties, privileges and roles.
3. Procedures for proper supervision, control and information-flows to serve as a system of checks and balances.

References : http://www.businessdictionary.com/definition/corporate-governance.html