The theoretical approach to innovation business essay

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The theoretical approach to innovation business essay

Pssst… we can write an original essay just for you. Any type of essay. Get your price writers online Government and other stakeholders of the business are emphasizing the relevance of ethical practices by business organizations.

In recent years, we have seen many unethical behaviors taking place in the operations of certain businesses worldwide. This makes the society unsafe for upcoming businesses, healthy competition, and consumers. Business ethical practice is an issue which is increasingly being given proper attention in the business world today.

Businesses are recognizing that more and more customers are becoming ethically conscious day-in-day-out. It is now being proved in recent studies that many investors use the ethical behavior of a company in the society as a yardstick for choosing a company to invest in.

In order to remain sustainable and competitive in the global market, many businesses have recognized the need to adopt a good ethical practice.

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The concept of theoretical approaches to business ethics Different philosophers and theorists have propounded various theories on what can be considered morally acceptable and unacceptable. Among these theories are: Teleology Consequentialist theories The consequentialists approach to ethical reasoning involves justifying an action by the outcomes or results achieved by such action.

From this fact, it is evident that consequentialism is based on two principles: What is morally right or wrong depends only on the outcomes or results of an act. The more good consequences can be produced by an act, the better that act. According to the consequentialists, the results achieved by an action or a decision determines whether to categorize it as an ethical or unethical one.

In assessing what the best consequences are, consequentialism is not very informative unless combined with other theory.

Utilitarianism and egoism are the most influential forms of consequentialism. Utilitarianism In the utilitarian approach to ethical consideration, the emphasis is laid on the amount of good and harm which might be derived from an action or a decision i.

For example, when a company decides to move its manufacturing plant from one location to another, what would be the amount of good i. The utilitarian approach to business ethics is also evident when analyzing a particular action or decision on a cost-benefit basis.

For example, when all the costs incurred from an action are added and compared with the resulting benefits. If the benefit is more than the cost, the action may be considered ethical.

According to a utilitarian, if the amount of good appears to outweigh the amount of harm in the course of the movement, the decision is considered as being ethical.

The theoretical approach to innovation business essay

But if the reverse is the case, it is an unethical decision. In a nutshell, utilitarianism says that an action that is ethically right in a given situation is the one that produces the most happiness and least unhappiness for the largest number of people.

This is because the word deontological was derived from the Greek word deon meaning duty. Rather than focusing and attaching what is morally right or wrong to the consequence that an action or a decision brings, deontologists based their decisions about moral right and wrong on broad and universally acceptable ethical values such as honesty, fairness, duty, respect for human beings etc.

According to the deontological approach, some actions or decisions would be considered wrong even they created consequences that were good while others would be viewed as good even when bad results were achieved.

Summarily, deontologist denies that what ultimately matters is not the consequences of an action but the action itself. Deontology is mostly related to Immanuel Kant, a German philosopher. The deontological theory is evident in many businesses today where organization critically put into consideration their business activities so as to be fair, accountable and transparent in their dealings with stakeholders.

Virtue Theory Virtue ethics are normative ethical theories which emphasize virtues of mind and character. A virtue ethics is likely to give you this kind of moral advice: These traits derive from natural internal tendencies, but need to be nurtured; however, once established, they will become stable.Business essays.

Our business essays and business dissertations cover a wide range of popular topics including Consumer Protection, Corporate Social Responsibility, the Economy, Business Ethics, External influences, Globalisation, International Business, Finance, Marketing, Operations, People, .

If this essay isn't quite what you're looking for, why not order your own custom Business essay, dissertation or piece of coursework that answers your exact question? This theoretical approach is fascinating do to the breadth of different fields that it can be applied to and to the depth that it can go into the field to formulate a.

It allows for people to formulate a better understanding of the spread of new innovations. - Business Innovation and Investment Business Talent Visa is a part of the program. The theory of disruptive innovation, highly convenient approach. And it got there via a classically disruptive path.

The theoretical approach to innovation business essay

Integrating them all into a comprehensive theory of business success is. Business Essay - Strategy innovation is the capacity to re-conceive the existing industry model in ways that create new value for customers, wrong-foot competitors, and produce new wealth for all stakeholders.

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