arrive at moral judgments. Descriptive ethics, therefore, involves the collection of data that relates to moral behavior and the forging of our moral beliefs. It can involve biological inquiry, psychological inquiry, economics, sociological inquiry, and/or political inquiry. But in the final analysis, it turns out that there is Marks were allocated when you have said due care theory and then have given reasons. You were to explain that the due care theory is the manufacturer's responsibility to exercise due care in the following areas: Design Production Information 3.2 According to the theory identify above is it possible for consumers to be 100% protected from These mechanisms are based on the theories developed by philosophers like Immanuel Kant, Aristotle, Jeremy Bentham, etc. Mahatma Gandhi suggested trusteeship principle as approach towards managing business. The application of this principle, and in general, the Gandhian approach for managing modern businesses has also been discussed in detail. Several theories covering business ethics are reviewed by focusing largely on contemporary business issues. Furthermore, literature on the concept of stakeholder perspectives is reviewed, extending the discussions in Chapters 3, 4 and 5 on corporate social responsibility for organisations as corporate citizens, Theories of Business Ethics. In the business world, various ethical theories and principles are used. They involve ideas used for acceptable business practices and decision-making and are included First assignment Read Mill, chs. 1-2 (at least through his statement of the "Greatest Happiness" principle, p. 55, for Tuesday). Print out thechart of basic approaches to ethical theory from my website (which I use instead of Canvas). Go to my website address on the syllabus and click on "courses" in the menu at the bottom. Psychological Egoism: To derive their basic moral principle from the alleged fact that humans are by nature selfish Criticism of the Theory of Psychological Egoism: 1. Egoism as an ethical theory is not really a moral theory at all. 2. Psychological egoism is not a sound theory in as much it assumes that all actions of men are motivated by self Currently, the three leading normative theories of business ethics are the stockholder, stakeholder, and social contract theories. These theories present distinct and incompatible accounts of a business person's ethical obligations, and hence, at most one of them can be correct. SURVEY OF THEORIES EMPLOYED IN BUSINESS ETHICS The Standard Model The standard model, according to Shaw (1996), "focuses on the individual and the moral choices, dilemmas, and decisions that can confront individuals in a business or organizational context" (p. 493). Examples of such choices would include whistle blowing, In short, what morality requires is relative to society." (Shaw, 2011) f "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. The same action may be morally right in one society The publication of Normative Theory and Business Ethics is a truly impor-tant event, because Jeffery Smith has skillfully and comprehensively edited a volume that makes normative theory front and center. He has put together a Foreword. set of articles that does an outstanding job of showing the important logica