Summary and Next Steps
Summary of Ethical Theories
In this section, you have learned about five major ethical theories. These theories are not the only ones that exist, since there are many more approaches to ethics that scholars and practitioners use to guide decision-making. For the purposes of this course, our focus is on these five theories so that you can gain a strong foundation in applying them to business dilemmas. In the future, you may wish to explore additional theories, but for now, the goal is to become confident in recognizing, comparing, and applying these five perspectives.
Let’s Review!
| Theory | Core Focus | Key Principles | Decision Guide | Common Critiques |
|---|---|---|---|---|
| Utilitarianism | Outcomes and consequences | Maximize happiness or utility; Weigh benefits vs. harms | What action produces the greatest good for the greatest number? | May overlook minority rights; hard to predict all consequences |
| Ethics of Caring | Relationships and empathy | Care, compassion, connection; Respond to the needs of others | How can I care for those affected by this decision? | It may seem too subjective; risk of favouritism |
| Justice | Fairness and equality | Equal treatment; Just distribution of benefits and burdens | Is this decision fair to all parties? | Can conflict with efficiency or personal relationships |
| Virtue Ethics | Character and moral development | Cultivate virtues like honesty, courage, humility; Be a good person | What would a virtuous person do? | Vague; may differ across cultures; lacks clear rules |
| Universal Rules | Duty and universal moral rules | Duty to act on principles that are universal laws | Would it be right if everyone did this? | Can be rigid; ignores consequences or context |
Common Questions
- Do I have to memorize all the theories? No, but you should understand how each works and be able to apply them to a dilemma.
- Are the theories meant to be used together? Sometimes. Real-world dilemmas may require combining theories in your analysis and comparing the results.
- What do I do if two theories give different answers? That’s where ethical judgment comes in. You’ll practice this later.
Explore Ethical Theories in Action
Use the activity below to review key ethical theories, their core ideas, and the philosophers behind them. This quick check-in will help you start building the ethical toolkit you’ll use throughout the course.
Next Step: Connecting to the EDM Model
In the next section of the course, you will begin working with an Ethical Decision-Making (EDM) model. This model gives you a structured process to analyze dilemmas and make thoughtful decisions. The ethical theories you have learned provide the lens through which you will study each situation as you work through the model.
Theories help you identify potential impacts and outcomes, ensuring your analysis is grounded in ethical reasoning rather than assumptions or quick judgments. The EDM model keeps you organized in your process, while the theories add moral depth by shaping how you interpret and evaluate the situation. Together, they form a powerful toolkit for approaching business dilemmas with clarity and responsibility.
Proceed to: Ethical Decision-Making Model →
