Business Ethics and Corporate Governance, Second Edition

SOME MORE NORMATIVE THEORIES OF BUSINESS ETHICS

There is a certain amount of confusion in defining business ethics as a field of study between the ethics theorists and those engaged in business. Business ethics is couched in abstract theory by academicians and philosophers. They express their theories in bombastic language and convoluted expressions such as ‘deontological requirements’, ‘hedonistic calculus’ and the like, which make no sense to ordinary businessmen who are neither philosophically inclined nor trained in philosophy. Businessmen express themselves in ordinary language and do not like to deal in abstractions. They are interested in solving the specific problems that confront them directly, rather than indulging in abstractions that ...