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Explain which moral philosophy you feel is best suited for making business decisions and why.?

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Explain which moral philosophy you feel is best suited for making business decisions and why.

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  1. Why am I in business?  To make a profit.  My profit can be based on a large price and few sales, a medium price and several sales, or a small price with a huge number of sales.  If I want volume sales, I must think of my customers needs, their health and well-being, and my employees and decide accordingly.  If I don't, I won't make my profit.  If I just want to sell one item, then I can charge whatever someone is willing to pay for it, like rare paintings, etc.  If people are dissatisfied in some way over their purchase, they have a way of getting even, so try to satisfy the customer.  If you're counting on someone else to sell it for you, they should be happy so they'll try harder, but they should keep you happy too.  So the "Golden Rule" of business is "Do unto others as you would have them do unto you."


  2. I cannot pin- point 1 philosophy because it would depend upon the business action, circumstance and decision to be made. I would narrow down several philosophies that I feel is best in a business atmosphere.

    Deontology because it focuses on "duty" of what is right and good.

    Objectivist Ethics in "some" circumstances. I do not feel in all cases it would be best to view individual needs over group needs in a business environment. For example giving bonuses, recognitions and awards to those individuals that succeed to the best of the ability may promote a higher motivation for all employees to strive to do their best.

    Prima Facie Duties because it views each being as a participant in a social contract (which we have moral obligations and legal duties). For a successful business to work each employee needs to succeed in their obligations to for the success of the whole. At any employment your work is for your own benefit, but your work is very important to the whole of the business to run.

    Legal Moralism because a successful and just business needs to follow the law to continue to stay in business.

  3. The morality that allows the individual sovereignty given us by the Founding Fathers, is the "best" suited for business.

    " Individual sovereignty was not a peculiar conceit of Thomas Jefferson: It was the common assumption of the day;"

    http://www.friesian.com/ellis.htm

    Individual sovereignty in the market place means no man (or business) may initiate coercion or force against another to create a monopoly.

    "Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.

    "The recognition of individual rights entails the banishment of physical force from human relationships: basically, rights can be violated only by means of force. In a capitalist society, no man or group may initiate the use of physical force against others.

    "When I say “capitalism,” I mean a full, pure, uncontrolled, unregulated laissez-faire capitalism—with a separation of state and economics, in the same way and for the same reasons as the separation of state and church.

    "The moral justification of capitalism does not lie in the altruist claim that it represents the best way to achieve “the common good.” It is true that capitalism does—if that catch-phrase has any meaning—but this is merely a secondary consequence. The moral justification of capitalism lies in the fact that it is the only system consonant with man’s rational nature, that it protects man’s survival qua man, and that its ruling principle is: justice." Ayn Rand

    It is justice for the sovereignty of the individual. Without it, if we compromise on it (which we have almost from the beginning because even the Founders could not see the future ends of their actions) those compromises disable the very system of "rule by law" that Locke and Hobbes and Smith envisioned, and which should have taken root in America.

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