Philosophy of Business

Teleology
By: Ma. Lucia Alvarado Eli Catangay Abner Escullar Samuel Guarin

Teleology (from the Greek word for end or purpose) refers to moral philosophies in which an act is considered morally right or acceptable if it produces some desired result such as pleasure, knowledge, career growth, the realization of self-interest, utility, wealth, or even fame. In other words, teleological philosophies assess the moral worth of a behavior by looking at its consequences, and thus moral philosophers today often refer to these theories as consequentialism.

Teleological philosophies assess the moral worth of a behavior by looking at its consequences

Definition

There are two important teleological philosophies that often guide decision making in individual business decisions. The

egoism and utilitarianism.

Teleological Philosophies

Right or acceptable behavior in terms of its consequences for the individual. Egoists believe that they should make decisions that maximize their own self-interest, which is defined differently by each individual.

Egoism

Self-interest may be construed as physical wellbeing, power, pleasure, fame, a satisfying career, a good family life, wealth, or something else. In an ethical decision making situation, an egoist will probably choose the alternative that contributes most to his or her self-interest.

Self-interest

Do the act that promotes the greatest good for oneself.

Egoists Creed

Enlightened egoists take a long-range perspective and allow for the wellbeing of others although their own self-interest remains paramount.

Enlightened Egoism

Abide by professional codes of ethics, control pollution, avoid cheating on taxes, help create jobs, and support community projects. Yet they do so not because these actions benefit others but because they help achieve some ultimate goal for the egoist, such as advancement within the firm.

Enlightened Egoist

Seeks the greatest

good for the greatest number of people. Utilitarian's believe

that they should make decisions that result in the greatest total

utility, that achieve the greatest benefit for all those affected by a
decision.

Utilitarianism

Decision making relies on a systematic comparison of the costs and benefits to all affected parties. Using such a costbenefit analysis, a utilitarian decision maker calculates the utility of the consequences of all possible alternatives and then selects the one that results in the greatest benefit.

Utilitarian

Utilitarians use various criteria to judge the morality of an action. These are the: Rule utilitarians - determine behavior
on the basis of principles, or rules, designed to promote the greatest utility rather than on an examination of each particular situation.

Utilitarian

One such rule might be Bribery is wrong. If people felt free to offer bribes whenever they might be useful, the world would become chaotic; therefore, a rule prohibiting bribery would increase utility. A rule utilitarian would not bribe an official, even to preserve workers jobs, but would adhere strictly to the rule. Rule utilitarians do not automatically accept conventional moral rules, however; thus, if they determined that an alternative rule would promote greater utility, they would advocate changing it.

Utilitarian

Act utilitarians - examine a specific action itself, rather than the general rules governing it, to assess whether it will result in the greatest utility.

Utilitarian

Rules such as Bribery is wrong serve only as general guidelines for act utilitarians. They would likely agree that bribery is generally wrong, not because there is anything inherently wrong with bribery, but because the total amount of utility decreases when one persons interests are placed ahead of those of society. In a particular case, however, an act utilitarian might argue that bribery is acceptable.

Utilitarian

 They are in accord with much of our ordinary moral reasoning. The fact that an action would provide some benefit or inflict some harm is generally a morally relevant reason for or against performing it.

Teleological theories Strengths

 Provide a relatively precise and objective method for moral decision making. Assuming that the goodness of consequences can easily be measured and compared, teleological decision maker need only determine the possible courses of action and calculate the consequences of each one.

Teleological theories Strengths

 Derive from the same features that constitute their strengths. Although much of our ordinary moral reasoning is teleological, some of it is decidedly nonteleological in character.

Teleological theories Weakness

Teleological moral systems are characterized primarily by a focus on the consequences which any action might have (for that reason, they are often referred to as consequentialist moral systems, and both terms are used here). Thus, in order to make correct moral choices, we have to have some understanding of what will result from our choices. When we make choices which result in the correct consequences, then we are acting morally when morally; we make choices which result in the incorrect consequences, then we are acting immorally.

Summary