There are three major ethical approaches that managers might use in making an ethical choice – a utilitarian or consequence approach, a negative or positive rights approach, or a virtue-based ethical reasoning approach. Here is a description of the three approaches and the advantages and disadvantages of each one.

Five Basic Approaches to Ethical Decision-Making

• The Rights Approach.
• The Utilitarian Approach.
• The Virtue Approach.
• The Fairness (or Justice) Approach.
• The Common Good Approach.
• The Utilitarian Approach.
• The Rights Approach.
• The Virtue Approach.

From the earliest moments of recorded human consciousness, the ethical discipline has exhibited four fundamental “approaches” These four approaches are often called “ethical decision-making frameworks:” Utilitarian Ethics (outcome based), Deontological Ethics (duty based), Virtue Ethics (virtue based) and Communitarian …

Philosophers have developed five different approaches to values to deal with moral issues.

• The Utilitarian Approach.
• The Rights Approach.
• The Fairness or Justice Approach.
• The Common-Good Approach.
• The Virtue Approach.
• Ethical Problem Solving.

The “ethical point of view” means respecting not only your own goals and aspirations,but taking into consideration the goals and aspirations of other people as well. 2. Define morality and ethics in your own words. Morality also allows you to figure out whether a particular decision or action is right or wrong.

In brief, there are three main levels of ethical thinking: meta-ethics, which is concerned with how ethics are developed and how we make moral judgements; normative ethics, which is concerned with stances that might be taken on what is right and wrong; and applied ethics, which is concerned with the ethical positions …

Virtue ethics is a philosophy developed by Aristotle and other ancient Greeks. This character-based approach to morality assumes that we acquire virtue through practice. By practicing being honest, brave, just, generous, and so on, a person develops an honorable and moral character.

A virtuous person is someone who performs the distinctive activity of being human well. Aristotle defines moral virtue as a disposition to behave in the right manner and as a mean between extremes of deficiency and excess, which are vices.