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Sunday, 24 February 2013

Deontological and its advantage and disadvantages



According to Wikipedia.com, deontological derives from Greek words deon means "obligation or duty". It is the normative ethical position that judges the morality of an action based on action to the rules. Deontological theory also commonly contrasted to consequentialism.

Consequentialism is the consequences of one conduct are the ultimate basis for any judgment about the rightness of that conduct.

Kantianism is a theory of ethics made by Immanuel Kant. He considered deontological for several reasons. He argues that to act in the morally right way, people must act from deon (duty).

Kant then argues that the consequences of an act of willing cannot be used to determine that the person has a good will. “good consequences could arise by accident from an action that was motivated by a desire to cause harm to an innocent person, and bad consequences could arise from an action that was well-motivated”.

Deontological theory also consists of two centred. First is agent-centered and second is patient-centered. For agent-centered, people have certain permissions or obligations based on their agency. For the example; Parents can save their child instead of two other children.

For patient-centered, their actions based on rights instead of obligations. They only focuses on a right that not to be used.

Some deontologists are moral absolutists, believing that certain actions are absolutely right or wrong, regardless of the intentions behind them as well as the consequences.

Deontological also have advantages itself. Deontological allows people to stay very consistent because they would perform an act in practically the same way each time they satisfy their obligation. The follower of deontological ethic  also often place their duty or obligation between their family, friend or other people that they familiar with.

The systems of deontological ethic also provide reason for followers to indicate an act that is good but no morally required to be done. An example for this is if a man hijacked a bus of students and said if one person dies, then he will let everyone free. The teacher who believes in deontology would volunteer to die because he feels that is his obligation to protect the safety of his students.

However, deontological theory also has its disadvantages. The major of its disadvantage is deontologist may not violate a duty to prevent several violations caused by other people, and this is often called the "paradox of deontological constraints". Other than that, the duty may actually lead the disasters consequence. Also, for some duties, the deontologist doesn't seem to have a logical reason for following it. For example, a person may make it his duty to go to work on time, but why he made it his duty is often unclear.

In addition, the system does not provide a good way of dealing with situations where duties conflict with each other. Back to the man above, if he is late for work, should the man break the law and speed to work, endangering other people in the public, or should the man arrive to work late?

For my conclusion, I think the deontological can be done or cannot be done based on the situation that people face it. Sometime it good to followed the deontological and sometime can be make the situation become worse.

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Saturday, 9 February 2013

Definition of Corporate Governance

The system of rules, practices and processes by which a company is directed and controlled. 

According to businessdictionary.com, The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with its all stakeholders which are financiers, customers, management, employees, government, and the community.

The corporate governance framework consists of explicit and implicit contracts between the company and the stakeholders for distribution of responsibilities, rights, and rewards, procedures for reconciling the sometimes conflicting interests of stakeholders.

Corporate governance consists of two elements:

1) The long term relationship which has to deal with checks and balances, incentives for manager and communications between management and investors

2) The transactional relationship which involves dealing with disclosure and authority.
     (applied-corporate-governance.com)

The corporate governance also have their own benefits such as:
  • Good corporate governance ensures corporate success and economic growth.  
  • Strong corporate governance maintains investors’ confidence, as a result of which, company can raise capital efficiently and effectively. 
  • It lowers the capital cost.  
  • It helps in brand formation and development(managementstudyguide.com)



Why business ethic is considered oxymoron?

Oxymoron mean bringing together of two apparently contradictory concepts such as cheerful pessimist or deafening silence.

Business ethic is considered oxymoron because the business can and do act ethically. They do it because when the business act ethically, no third party can be hurt or nobody can be oppressed.

Saturday, 2 February 2013

Whats the meaning of Business Ethic

Business is an economic activity between seller and the buyer. It is transaction where the seller offer product or services to buyer and the offer is accepted by buyer.

Ethic also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. Ethic in philosophy term is a study of human moral behavior and how it should act.

Business Ethics can be defined as many ways. Linda TreviƱo and Katherine Nelson, authors of “Managing Business Ethics”, define ethical behavior in business as the “behavior that is consistent with the principles, norms, and standards of business practice that have been agreed upon by society”. 

According to investopedia.com, Business ethics are implemented in order to ensure that a certain required level of trust exists between consumers and various forms of market participants with businesses. For example, a portfolio manager must give the same consideration to the portfolios of family members and small individual investors. Such practices ensure that the public is treated fairly.

In my opinion .. business ethics is something that should be followed by all members of the business and make it as a guideline when doing business that does not harm the other party.