Personal Ethics Development
PHL/323
Personal Ethical Development
The financial industry has collapsed in the United States. The economic crisis and a complete lack of ethics in business are the main factors of the mortgage down turn. This is part of the reason that organizations must pay closer attention to their members/employees ethical development process. This paper will explore an individual’s developmental aspect of their ethics which will include how important ethics are and ethical systems.
According to Wong and Beckham (1992) the lack of ethics in business and the economic crisis are the reasons financial organizations have been failing over that last 20 years. Wong and Beckham (1992) say that the two ethical theories that will lead to the growth of ethics are Ross’s prima facie duties, and utilitarianism.
When having to make an ethical decision one must depend on the morally correct action. The morally correct action can provide great benefits compared to expense. When making an ethical decision based on morally correct actions will provide a great benefit for all individuals affected by the decision. The development of personal ethics depends on the model that causes moral ethical decisions but do not account for other principles and justice within society. When developing personal ethics one should take advice from the principles that society follows and the utilitarian model.
The ethical system is also known as virtue based systems or oriented systems. These systems are then divided into subdivisions known as teleological, relativism, and deontological systems. In the deontological system, the leading policies and virtue can have an effect on one’s ethics and decision making. “This is very pronounced in Christian ethics. Thus, decision making in governed by the deontological system is whether an action is inherently right or wrong” (Rae, 2000, p. 17).
The teleological systems can affect an...