What are the key differences between deontology and utilitarianism in business ethics?

What are the key differences between deontology and utilitarianism in business ethics?

Deontology focuses on rules and duties, while utilitarianism emphasizes the outcomes and consequences of actions.

Can you give me an example of each in a business context?

Sure! A deontological approach might involve a company adhering to strict labor laws, regardless of profit. In contrast, a utilitarian approach might prioritize maximizing profits, even if it means cutting corners.

Which approach is generally considered better in business?

It depends on the situation. Deontology ensures ethical consistency, while utilitarianism can lead to greater overall happiness. Both have their merits.

How do companies balance these two ethical frameworks?

Companies often create ethical guidelines that incorporate both perspectives, ensuring they meet legal obligations while also considering the impact of their decisions on stakeholders.