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Philosophy of business. The philosophy of business considers the fundamental principles that underlie the formation and operation of a business enterprise; the nature and purpose of a business, and the moral obligations that pertain to it.
Normative ethics is the study of ethical behaviour and is the branch of philosophical ethics that investigates questions regarding how one ought to act, in a moral sense. Normative ethics is distinct from meta-ethics in that the former examines standards for the rightness and wrongness of actions, whereas the latter studies the meaning of moral ...
Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions. It examines what obligations people have, what behavior is right and wrong, and how to ...
The Friedman doctrine, also called shareholder theory, is a normativetheory of business ethicsadvanced by economist Milton Friedmanwhich holds that the social responsibility of business is to increase its profits.[1] This shareholder primacyapproach views shareholders as the economic engine of the organization and the only group to which the ...
Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and wrong behavior". The field of ethics, along with aesthetics, concerns matters of value, and thus comprises the branch of philosophy called axiology. Various ethical theories pose various answers to the question ...
e. In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for the affected individuals. [ 1][ 2] In other words, utilitarian ideas encourage actions that ensure the greatest good for the greatest number. Although different varieties of utilitarianism admit ...
The theories of organizations include bureaucracy, rationalization (scientific management), and the division of labor. Each theory provides distinct advantages and disadvantages when applied. [9] The classical perspective emerges from the Industrial Revolution in the private sector and the need for improved public administration in the public ...
First page of a 1566 edition of the Aristotolic Ethics in Greek and Latin. The Nicomachean Ethics ( / ˌnaɪkɒməˈkiən, ˌnɪ -/; Ancient Greek: Ἠθικὰ Νικομάχεια, Ēthika Nikomacheia) is Aristotle 's best-known works on ethics: the science of the good for human life, that which is the goal or end at which all our actions aim ...