Traditionally, normative ethics (also known as moral theory) was the study of what makes actions right and wrong. These theories offered an overarching moral principle one could appeal to in resolving difficult moral decisions.

1. ETHICAL THEORIES

2. ETHICAL ABSOLUTISM
ETHICAL RELATIVISM

3. Moral absolutism is
an ethical view that
particular actions are
intrinsically right or wrong

4. Ethical relativism is the theory
that holds that morality is
relative to the norms of one's
culture. That is, whether an
action is right or wrong
depends on the moral norms of
the society in which it is
practiced

5.  DEONTOLOGICAL THEORIES
1. IDEAS OF W.D ROSS
2. IDEAS OF CONFUCIUS
3. VIRTUE ETHICS OF ARISTOTLE
4. IMMANUEL KANT’S THEORY
5. THEORY OF ROBERT SOLOMAN

6. The branch of ethics dealing
with right action and the
nature of duty, without regard
to the goodness or value of
motives or the desirability of
the ends of any act.

7.  Ross's system of duties is an example of deontological theory
 :(1) Duties of fidelity to keep promises and tell
the truth.
 (2) Duties of reparation to compensate people
for injuries.
 (3) Duties of gratitude to return favours those
others do for us.
 (4) Duties of justice in the sense goods are
distributed according to the merits and natureof
people.
 (5) Duties of beneficence to improve the
conditions of others.
 (6) Duties of self improvement such as improving
virtue and intelligence.
 (7) Duties to avoid injury to others.

8.  The ideas of Chinese philosopher Confucius are an
example of deontological theory.The major ideas of
Confucius are given below:
 (a) What you do not wish done to yourself, do not
do to others.
 (b) Do not wish for quick results, nor look for small
advantages. If you see quick results,it is difficult to
attain the ultimate goal.
 (c) When you see someone of worth, think of how you
may emulate. When you seesomeone unworthy,
examine your own character.
 (d) Wealth and rank are what people desire, but
unless they are obtained in the right waythey may not
be possessed.
 (e) Feel kindly towards everyone, but be intimate
only with the virtuous.

9.  Main Points of Aristotle's Ethical Philosophy
 The highest good and the end toward which all human activity is
directed is happiness, which can be defined as continuous
contemplation of eternal and universal truth.
 One attains happiness by a virtuous life and the development of reason
and the faculty of theoretical wisdom. For this one requires sufficient
external goods to ensure health, leisure, and the opportunity for
virtuous action.
 Moral virtue is a relative mean between extremes of excess and
deficiency, and in general the moral life is one of moderation in all
things except virtue. No human appetite or desire is bad if it is
controlled by reason according to a moral principle. Moral virtue is
acquired by a combination of knowledge, habituation, and self-
discipline.
 Virtuous acts require conscious choice and moral purpose or
motivation. Man has personal moral responsibility for his actions.
 Moral virtue cannot be achieved abstractly — it requires moral action
in a social environment. Ethics and politics are closely related, for
politics is the science of creating a society in which men can live the
good life and develop their full potential.

10.  Basic Summary: Kant, unlike Mill, believed that certain types
of actions (including murder, theft, and lying) were absolutely
prohibited, even in cases where the action would bring about
more happiness than the alternative. For Kantians, there are
two questions that we must ask ourselves whenever we decide to
act: (i) Can I rationally will that everyone act as I propose to
act? If the answer is no, then we must not perform the
action. (ii) Does my action respect the goals of human beings
rather than merely using them for my own purposes? Again, if
the answer is no, then we must not perform the action. (Kant
believed that these questions were equivalent).

 Kant’s theory is an example of a deontological moral theory–
according to these theories, the rightness or wrongness of actions
does not depend on their consequences but on whether they
fulfill our duty

11.  Solomon developed a cognitivist theory of the
emotions, according to which emotions, like beliefs,
were susceptible to rational appraisal and revision.
Solomon was particularly interested in the idea of
"love", arguing against the notion that romantic
love is an inherent state of being, and maintaining
that it is instead a construct of Western culture,
popularized and propagated in such a way that it has
achieved the status of a universal in the eyes of many.
Love for Solomon is not a universal, static quality, but
an emotion, subject to the same vicissitudes as other
emotions like anger or sadness

12. teleological ethics,
(teleological from Greek telos,
“end”; logos, “science”), theory of
morality that derives duty or
moral obligation from what is
good or desirable as an end to be
achieved.

13. 1. IDEAS OF ALBERT CARR
2. THEORY OF MACHIAVELLI
3. MARXIAN THEORY
4. SUN TZU’S THEORY
5. J.S MILL’S THEORY OF UTILITARIANISM

14.  Albert Carr wrote an article "Is Business
Bluffing Ethical?" in which he asserts
that bluffing in business may be ethical.
Bluffing in business is considered as a game
strategy.In some situations, bluffing is more
acceptable. Carr is quoting the British
statesmanHenry Taylor who said, "Falsehood
ceases to be falsehood when it is understood
on allsides that truth is not expected to be
spoken". Carr has made a distinction
between business ethics and religious ethics.
Loyalty to customers and fair to suppliers
will do for business

15.  Machiavelli was the defence minister of Italy.
He wrote a famous book called 'Prince'.
Hementioned common virtues like
moderation, clemency, charity, gentleness,
vigour anddevotion. But felt that these
virtues are not necessary for the real world.
 Machiavellianism is a personality trait
associated with a manipulative and
unethicalleadership style. The ethical
problems have to be perceived andsolutions
have also to be perceived

16.  Sun Tzu wrote a book called "Art of War". He
has compared business to war. He has
alsogiven the following ideas related to
business ethics.
 (a) Whether we live or die depends on the
configuration of the battlefield. Whether
wesurvive or perish depends on the way of
battle. Any business has to be careful in
its business strategies.

17.  (b) In the war we should know the way, the
weather, the terrain, the leadership,
anddiscipline.In business also we should know
the way, the business conditions, the nature
of competition, prevailing business leadership
and business discipline.
 (c) As in war in business also we have to find out
who is superior in all these things,whether
ourselves or our competitors. Then only we can
mobilize our business forces.
 (d) The business should empower team of the
businessman to understand the strategy andthe
way. Then only he can take the team with him.
 (e) If people are treated with benevolence,
faithfulness and justice they will be happy
andoffer full co-operation. A business leader
should also be kind to both the employees
andcustomers.

18.  John Stuart Mill was a man of extraordinary
learning. He was a combination of philosophy,
logic and economics.He has given importance
to the concept of utility which means the ability to
satisfy ahuman want.
 There are four phases of utilitarian principles:
 (a) ConseQuentialism:Every action has some
efforts. Right actions produce right effects.
Business should becapable of producing good
results.
 (b) Hedonism:Hedonism refers to pleasure which
should bring happiness to all. Business
should promote pleasure to buyers, employees
and all the stakeholders
 .(c) Maximalism:A good business should bring about
maximum benefits to all.

19. THANK YOU