Statement (I) : Virtue ethics is a form of ethical approach associated with Aristotle which stresses the importance of developing virtuous principles, ‘right’ character and the pursuit of a virtuous life.
Statement (II) : Utilitarianism is an ethical approach where an action is right if, and only if, it conforms to the principle of utility, whereby utility is minimised and pain and unhappiness minimised more than any alternative.
Statement (III) : ‘Deontological Ethics’ is an ethical approach where rightness or wrongness of an action or decision is not judged to be based exclusively on the consequences of that action or decision.
Code :
Ethical Approaches: Statements Analysis
This question requires identifying correct statements about major ethical theories: Virtue Ethics, Utilitarianism, and Deontological Ethics.
Statement (I): Virtue Ethics
This statement correctly defines Virtue Ethics. It is indeed an approach associated with Aristotle, emphasizing the development of virtuous character traits and the pursuit of a good life through virtuous actions.
Statement (II): Utilitarianism
This statement is incorrect. Utilitarianism is a consequentialist theory that defines right actions based on the maximization of utility (happiness, well-being) and minimization of suffering. The statement incorrectly suggests utility is minimized.
Statement (III): Deontological Ethics
This statement accurately describes Deontological Ethics. It asserts that the morality of an action is based on whether it adheres to certain rules or duties, and is not solely determined by its consequences.
Conclusion
Based on the analysis:
- Statement (I) is correct.
- Statement (II) is incorrect.
- Statement (III) is correct.
Therefore, the correct statements are (I) and (III). This corresponds to Option C.
Important Questions from Business Ethics
Statement I : "Working in harmony with the community and environment around us and not cheating our customers and workers we might not gain anything in the short run but in the long term it means greater profits and shareholders value".
Statement II : According to Mahatma Gandhi, capitalist class owns wealth or capital as trustees of the society.
Codes :
- Match List-I with List-II relating to corporate ethics and indicate the code of their correct matching.Codes :
List – I List – II a. Utilitarian theory i. Behaviour guiding statements. b. Code ii. Making public known about unethical company practices. c. Whistle blowing iii. Society with varied interest groups. d. Pluralistic society iv. Evaluation of plans with its consequences - Which of the following is related to the practical means of determining a moral course of action ?
Which of the following statements is true?
Given below are two statements:
Statement I: To exist and be successful in a competitive world a business has to be ethical.
Statement II: An ethical organisation can be recognized on the basis of its corporate excellence and not on its relations with the stakeholders.
In light of the above statements, choose the most appropriate answer from the options given below
