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Lesson 4:
1. Teleological theories
TELOS means end- End alone is important Not bothered about the means
Merits
a) Based on ordinary moral reasoning b) Justifying unethical means like lying, breaking a promise and stealing c) Farming a policy Policy of bank recovery of loans
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Demerits
a) Ignores means b) Ignores welfare state
2. Deontological theories
DEON means duty- Equal importance to means -Means should justify the ends
Merits
1) Moral theory 2) Motivates people in the right direction 3) Value based society
Demerits
1. Difficult to follow 2. Mostly theoretical
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Application of Virtue Ethics 1) 2) 3) 4) 5) 6) 7) Trust : Confidence among the stakeholders Self control: Long term results Empathy: Understanding others Fairness: Equitable treatment Learning : Knowledge for decisions Gratitude : A sign of maturity, civility and decency Moral leadership : Attainment of peace of mind,
contented heart and happiness
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Merits
1. Universal values 2. Convergence of values Most suitable to globalisation times
Demerits
1. Fall in values in societies 2. Conflict between individual ethics and social ethics 3. Human problems are not taken into account
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2. Ideas of Confucius
Chinese Philosopher a) Do not wish for quick results Look for long term results. b) Wealth and rank should be obtained in a proper way c) We have to learn good things from the others and examine our own flaws in our character.
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Immanuel Kant was a well disciplined Prussian scholar- Deep analysis and thinkingBook called Foundation of Metaphysics of
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5. Utilitarian ethics of John Stuart Mill a) Consequentialism: Business should produce good
results
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