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Business & Marketing
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Topic:
Jeremy Bentham and the Strength, Limitations and Implications of Modern Utilitarianism
Essay Instructions:
Select an ethical theorist whose ideas resonate with you. Conduct research on that theorist, and then prepare and submit write a 3 to 5 page paper that explains the theory, and provides examples of that theory. A suggested framework includes:
The name of the theorist
The theory developed by the theorist
Examples of the theory
A brief rationale that explains your interest in the selected theorist and theory
Strengths of the theory
Limitations of the theory
Implications for modern business life
Conclusion
Essay Sample Content Preview:
Jeremy Bentham and the Strength, Limitations and Implications of Modern Utilitarianism
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Jeremy Bentham, an English philosopher, jurist, economist, and political thinker, is considered the primary founder of modern utilitarianism. Bentham coined the ethical theory of utilitarianism in the 18th century to develop a publicly acceptable norm that brought the most significant benefit to society. Thus, he developed the theory whose premise was, happiness is the only valuable thing, actions are justified if they advance happiness, and immoral if they lead to unhappiness, and everyone’s happiness is comparable (Gustafson, 2013, pp. 325). Hence, a business has to take up an action that capitalizes on the social benefits of the majority if it is to adopt an ethical behavior.
The utilitarianism ethics theory is employed in businesses through various examples. One is by the airline industry implementing three-tier pricing to cater to all passengers. First and business class passengers pay significantly more for their seats and get more amenities, while economy class passengers pay less. Another example is a company opting to outsource its work to foreign workers at lower incomes to lower its production cost and avoid laying off hundreds of its employees. Another example is the approval of a pharmaceutical drug to treat a medical condition that affects millions of people worldwide, aware that it has mild side effects. Its healing capabilities outweigh the minor side effects.
I am interested in Jeremy Bentham, and his utilitarianism ethics reasoning as he came up with an exciting perspective that employs moral rationale in determining the course of actions businesses should undertake, an aspect I value. Businesses can sometimes be consumed by the need to meet their goals and make profits that they fail to consider the effects of their actions. However, by adopting this theory, they must ensure their activities impose more happiness and limit suffering (Marseille & Kahn, 2019, pp. 2-3). Hence, it keeps businesses accountable for their behavior.
Utilitarianism has the fo...
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