Suggested Length 750 To 1000 Words Ethical Theories To Apply

Suggested Length 750 To 1000 Wordsethical Theories To Apply Golden R

You work in the Ethics Department for ABC Company (ABC). Your department is dedicated to advising its employees about their ethical obligations in the corporate setting. You are an internal consultant who provides advice and, most importantly, recommendations for action to employees of the firm. All communications you receive in this capacity are confidential.

Luke, an employee of ABC, comes to you with a scenario and asks for your advice. He wants to fully consider the situation. Your task is to advise and recommend a course of action based on the specified ethical lenses and facts as given. Below are the facts that Luke provides to you.

Paper For Above instruction

Luke has been asked to work on a project that involves developing land recently purchased by ABC to build an adult entertainment retail store. According to the plan, the land is located on the corner of the neighborhood where Owen, Luke’s brother, lives. Luke knows that as soon as the plans for the store are made public, property values for the surrounding neighborhood will decrease significantly. ABC plans to publicly announce the project one month from today. Luke is concerned about his obligations of confidentiality to his company. However, Luke is also very close to Owen, who recently told Luke that he received an offer to sell his house at an “okay” price given the current real estate market. Owen is considering selling but hasn’t made any final decision yet. He wonders if he might get a better offer a few years from now when the real estate market improves. What is the ethical issue, why is this an issue, and what should Luke do about it? For assignment 3, prepare a memo, setting out your analysis and recommendations, that considers ONLY the following two theories: Golden Rule and Virtue Ethics.

Ethical Analysis and Recommendations Based on the Golden Rule and Virtue Ethics

The scenario presented involves multiple ethical considerations rooted in both honesty and integrity, particularly concerning the application of the Golden Rule and Virtue Ethics. The central ethical issue is whether Luke should disclose or act on the private information he possesses about the land development plans, which could influence his brother Owen's decision to sell his house at a potentially advantageous time, and whether such actions align with ethical standards.

Understanding the Ethical Issue

At the core, the ethical dilemma revolves around confidentiality, honesty, and the potential for insider information to be used to gain an unfair advantage. Luke knows that revealing or acting upon confidential company information—specifically, the knowledge about the project's announcement and its likely impact on property values—could influence Owen’s decision-making process. The question is whether it would be ethical for Luke to inform Owen about the project or to use his knowledge to advise Owen to delay selling his house, thereby potentially influencing Owen’s financial outcome.

Applying the Golden Rule

The Golden Rule, which advocates treating others as one wishes to be treated, provides a clear moral compass. If Luke were in Owen’s position, would he want to be informed about insider knowledge that could influence the timing of his house sale? Most likely, the answer is no; individuals generally prefer to operate in transparency without being manipulated by undisclosed information. Therefore, ethically, Luke should consider how he would feel if roles were reversed. Would he appreciate someone using confidential information to influence his critical financial decisions? If not, then Luke should refrain from sharing or acting upon such insider knowledge.

Furthermore, applying the Golden Rule implies that Luke should treat Owen with the same honesty and fairness that Luke would expect from others. This includes respecting the confidentiality obligations owed to ABC, which are designed to prevent misuse of privileged information. Acting in a way that leverages or discloses non-public information violates the principle of mutual respect and fairness, demonstrating that Luke would not want someone to exploit such information to his detriment.

Applying Virtue Ethics

Virtue Ethics emphasizes character virtues such as honesty, integrity, fairness, and prudence. From this perspective, Luke’s actions should align with virtues that foster moral excellence. Disclosing confidential information or advising Owen based on insider knowledge would not exemplify virtues like honesty and integrity. Instead, it would reflect greed, dishonesty, and a lack of prudence, potentially damaging Luke’s character and his reputation.

Conversely, virtues such as honesty and integrity would support Luke abstaining from acting on confidential information or encouraging Owen to delay his decision for personal gain. Acting virtuously involves adherence to moral principles regardless of personal benefit or loss. Luke’s character development should prioritize fairness and honesty, maintaining the trust required by his role in the Ethics Department and upholding the moral standards of a reputable professional.

Recommendations

Based on both the Golden Rule and Virtue Ethics, the recommendation is that Luke should maintain confidentiality regarding the project plans. He should not disclose any information about the land development to Owen or any other outside party. Furthermore, Luke should encourage Owen to make his decision based on his own circumstances without leveraging inside information, emphasizing that ethical conduct entails respecting confidentiality agreements and acting with integrity.

Additionally, Luke could advise Owen to consider his decision independently, perhaps suggesting that Owen wait for better market conditions if he deems it appropriate, but without suggesting or implying that Luke or ABC exert undue influence based on insider knowledge. Such actions demonstrate respect, fairness, and integrity—core virtues that should guide Luke’s conduct. By adhering to these principles, Luke not only respects his obligations to ABC but also models virtuous moral behavior that aligns with societal and professional expectations.

Conclusion

In conclusion, both the Golden Rule and Virtue Ethics convergently recommend acting with honesty, fairness, and integrity. Luke should uphold confidentiality and refrain from acting on or sharing insider information, recognizing that such behavior violates ethical principles and damages trust. By doing so, Luke demonstrates moral character and aligns his actions with the virtues esteemed in professional and societal contexts, fostering a culture of trust and ethical excellence within ABC Company.

References

  • Beauchamp, T. L., & Childress, J. F. (2019). Principles of Biomedical Ethics. Oxford University Press.
  • Crane, A., & Matten, D. (2016). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization. Oxford University Press.
  • Frankena, W. (1973). Ethics. Prentice-Hall.
  • Jones, T. M. (1991). Ethical decision making by individuals in organizations. Organizational Dynamics, 19(4), 54-64.
  • MacIntyre, A. (2007). After Virtue: A Study in Moral Theory. University of Notre Dame Press.
  • Ross, W. D. (1930). The Right and the Good. Oxford University Press.
  • Shaw, W. H. (2016). Business Ethics: A Text and Cases. Cengage Learning.
  • Tronto, J. C. (2013). Caring Democracy: Markets, Equality, and Justice. NYU Press.
  • Ulrich, P. (2004). Virtues in the workplace: A philosophical perspective. Journal of Business Ethics, 54(3), 177-186.
  • Willemsen, M. L. M., & Van de Ven, B. (2014). Ethical leadership and organizational virtue: An integrative model. Journal of Business Ethics, 125, 405–418.

Related Assignments