Utilitarianism theory of ethics refers to which one of the following ?
Welfare
Welfare — option 1.
The principle. Utilitarianism judges an act by its consequences, and specifically by the welfare or utility it produces. The famous formulation is the greatest happiness of the greatest number: an act is right in proportion as it tends to promote happiness and wrong as it tends to produce the reverse. It is therefore a teleological or consequentialist theory — welfare is the criterion, and nothing else counts.
Why the other three options are the direct opposite. Duty, obligation and rules are the vocabulary of deontological ethics, which judges the act in itself and expressly refuses to look at consequences. The question sets the two great traditions of moral philosophy against each other, and asks which word belongs to which :
| Utilitarianism (teleological) | Deontology | |
|---|---|---|
| Criterion | Welfare / utility / happiness | Duty, obligation, rule |
| Judges | The consequences of the act | The act itself |
| Central question | Does it produce the greatest good for the greatest number? | Is it right in itself, whatever follows? |
| Chief figures | Jeremy Bentham, John Stuart Mill | Immanuel Kant |
The two forms of the theory :
| Form | Test applied |
|---|---|
| Act utilitarianism | Does this particular act maximise utility? |
| Rule utilitarianism | Does the rule under which this act falls maximise utility if generally followed? — a partial answer to the objection that act utilitarianism can justify anything in a single case |
Mill’s refinement of Bentham is worth knowing. Bentham treated pleasures as differing only in quantity, measurable by his felicific calculus. Mill insisted they differ in quality too — intellectual and moral pleasures rank above bodily ones — which is the point of his remark that it is better to be a dissatisfied human than a satisfied pig.
Where it is used in business, and where it fails. Cost-benefit analysis is utilitarianism in operation: a project is approved if aggregate benefits exceed aggregate costs. Its weakness is that aggregation ignores distribution. A decision can maximise total welfare while inflicting severe harm on a minority, and utilitarian reasoning by itself supplies no ground for objecting — which is precisely the protection deontological ethics provides, and why business ethics in practice draws on both.
Hence, the answer is Welfare.
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(a) Corporate Conscience
(b) Corporate Citizenship
(c) Responsible Business
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Reason (R) : It has to be ethical, legal and responsible behaviour for organisation, stakeholders and society.
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Important Questions from Corporate governance and business ethics
Corporations are controlled and directed by which one of the following?
Which among the following is not a correct statement with regard to Corporate Governance in India ?
As per the Anglo-Saxon Model of Corporate Governance, the authority lies with the following. Arrange these in decreasing order of authority.
A. Board of Directors
B. Managers
C. Shareholders
D. Employees (Company)
E. Trade unions
Choose the correct sequence from the options given below
Assertion (A) : Corporate governance is an important instrument of investor protection.
Reason (R) : Strong corporate governance is indispensable to resilient and vibrant capital markets.
Which one of the following options is correct?
Which one of the following is not a norm of corporate governance ?
