Last Updated 28 May 2020

Business Philosophy

Words 290 (1 page)
Views 145

Moral decisions In business practices, the decision of an individual who leads the company affects the entirety of the whole. The action of a single decision-making body, especially in hierarchical business structures, leads to the consequence that benefits the company. Nevertheless, it should also be taken into consideration the opinion of others who make the company work.

Decisions and choices follow certain consequences and a business decision can only be considered good if there is also a satisfying effect. In line with the concept of Utilitarianism, it argues that the moral worth of an action depends on its contribution to the good or overall utility which benefits the majority. Therefore, the action's moral is solely dependent by the outcome. Utility is defined as the good to be maximized; good refers to happiness, pleasure or satisfaction.

In business perspectives, the action or decisions made by executives or top-management officers are significant in guiding the company in maximizing profits as well as minimizing expenditures. In making decisions, executives should be guided by the principle of utility in order to produce beneficial results for the company as a whole, which means decisions are only good when it follows the company's principles, vision, and mission. On the other hand, the concept of utility can be also applied with the employee population.

Order custom essay Business Philosophy with free plagiarism report

GET ORIGINAL PAPER

Business guided by utilitarianism also aims to not only please investors or clients but also the life-force of the company. Decisions made by top-management officials not only affect the company itself but also the status of employees. Thus, there should be a collective effort to produce a beneficial relationship between the company and its employees. In addition, both parties are satisfied and work together toward achieving the common good, defined by the company's vision and mission statement.

This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it.

Get professional help and free up your time for more important courses

Starting from 3 hours delivery 450+ experts on 30 subjects
get essay help 124  experts online

Did you know that we have over 70,000 essays on 3,000 topics in our database?

Cite this page

Explore how the human body functions as one unit in harmony in order to life

Business Philosophy. (2018, Jan 13). Retrieved from https://phdessay.com/business-philosophy/

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer