What are the three models of ethics?
What will be an ideal response?
The three models of ethics are as follows:
1. Utilitarian model: According to this model an ethical decision is one that produces the greatest good for the greatest number of people.
2. Moral rights model: According to this model an ethical decision is a decision that best maintains and protects the fundamental rights and privileges of the people affected by it. For example, ethical decisions protect people's rights to freedom, life and safety, privacy, free speech, and freedom of conscience.
3. Justice model: According to this model an ethical decision is a decision that distributes benefits and harms among stakeholders in a fair, equitable, or impartial way.
You might also like to view...
_________________ collect premiums on insurance policies and employee/employer contributions from pension fund participants and provide retirement benefits and insurance against major financial losses.
a. Banks b. Contractual savings organizations c. Investment banking firms d. Brokerage firms e. none of the above
Salespeople have assumed an important and expanding role in differentiating products
Indicate whether the statement is true or false