Ethics matter in entrepreneurship because good ethics = good business. Good ethics instills trust and confidence in customers and it gives your customers a chance to show them what you and your business stand for and believe in. In businesses, legality and morality/ethics is a conflict some might face. While a venture may be successful, such as laying employees off because of low budgeting, that does not mean that it is ethical.
One of the theories in this module that I found interesting was the Kantian Theory. I agree with most of the concepts in this theory such as treating people how you would like to be treated and respecting the human being as a thinking human. The part I find the most interesting is that it allows no flexibility in complicated situations. For this reason, I identify more with the Prima Facie Theory because most of these concepts are still practiced, but one can outweigh the other. In this case, you should ask yourself, “which option is the strongets option”, and “what option causes the least harm?”.
Case Study Questions
Learning Check
1. There are 2 kinds of Utilitarianism; Act and Rule. — T
2. Kantian Ethics is an extremely flexible theory. — F
3. Prima Facie Ethics is based on 7 unconditional duties. — F
4. Prima Facie Ethics offers stringent guidelines for ethical decisions. — T
5. The Philosophical approach to ethics is based on logic and reason. — T