Background & Development of Theoretical Ethical Approaches:

Deontological Theory
The deontological theory state that the cost or outcomes of actions are not important,
what actually matter is that the actions are morally justified. For example drunken driving is
wrong, now if a person argues that he safely navigated his way back home and for that reason
he/she should not be held accountable by law, they are wrong because their action was wrong
in the first place and was breaking the basic principle for morally correct behavior that a
person should not drive while being drunk.
Teleological Ethical Theory
The teleological ethical theory put the primary focus on the Consequences i.e.
What are those actions that produce the best possible results? Along with attaching
importance to the consequences the teleological theory also suggests that the decisions
framework that is developed for achieving the desired consequences should also be managed
with care.
Consequentialist Theory

According to the Consequentialist Theory, the basis for determining how moral a
persons actions are the consequences. The consequences of actions can be good or bad, and
they can be damaging or favorable.

Comparison between Absolute & Relative Ethics:

There is a distinction between relative and absolute value. Relative value is subjective,

depending on individual and cultural views, and is therefore identical with personal. Absolute

value, on the other hand, is philosophically absolute and independent of individual and cultural

views, as well as independent of whether it is detained or not. Relative value may be regarded as

an 'experience' by subjects of the absolute value. Relative value thus varies with individual and

cultural understanding, while absolute value remains constant, regardless of individual or

collective 'experience' of it. Relative value may be explained as a guess from which

implementation can be extrapolated. If it be known, absolute value may be able to be

implemented, but as it exists, regardless of whether it be known, its implementation cannot be

understood.

Ethical Issues in Business:

Employee Behavior
From large corporations to small businesses, individuals involved in all types of
business often face ethical issues stemming from employee behavior. For example, whether
an employee can spend work time checking personal email accounts, how a manager deals
with claims of sexual harassment and at what point a manager can "groom" an employee for
a promotion, these all are examples of ethical issues regarding employee behavior.
Employee Working Conditions
There are a number of ethical issues business people must consider about employee
working conditions. For example, employers must be responsive of the safety of their work
environment and if they have rewarded employees for all the time they have worked. They
must also consider if they have required an employee to work an unreasonably long period of
time or if they have him doing an unusually difficult task. Just like there are legal
consequences for some unethical issues regarding employee behavior, there are also legal
consequences for unethical working conditions. For example, an employer who requires an
employee to work without pay or who creates an unsafe working environment can face legal
action.
Supplier/Customer Relations
The employees and business owners must consider the ethical issues involved with
their relationships between suppliers and customers. Business owners have must consider
whether it is ethical to do business with suppliers who have unethical practices. When
dealing with customers or clients, business people must ensure that they use their information
correctly, do not wrongly advertise a product or service, and do not intentionally do substandard work.
Ethical Issues a Business Need to Consider:
Health and Safety
One area of ethical consideration for employers is how to balance expense control
with the health and safety interests of employees. Manufacturing plants and other workplaces
where employees use dangerous equipment or engage in physically demanding work should
have strong safety standards that not only meet federal requirements, but that also makes

reducing accidents a priority. Unfortunately, certain organizations choose to cut areas on

safety controls, equipment and training to save money. This is both unethical and potentially
damaging in the long run if major accidents occur.
Technology
Advancements in technology and the growth of the Internet in the early 21st century
have produced a slide of ethical problems for companies. Company leaders have to balance
the privacy and freedom of workers while also maintaining standards that require that
company technology use is for genuine business purposes.
Transparency
Major business and accounting scandals have made it necessary that companies
operate with frankness and transparency. For public corporations, this includes honest,
truthful and complete reporting on mandated financial accounting reports. For large and
small businesses, transparency includes communicating messages, including marketing
messages, that aren't open to the wrong idea and that clearly represent the purposes of the
company and its messages.