Ethical framework

What is an ethical framework?

An ethical framework is a set of rules or principles that helps people decide what is right or wrong and how to act in different situations. It provides a clear way to think about moral problems and make fair, responsible decisions.

Parts of an ethical framework 

Value-based Ethical Framework

Focuses on moral values.

• Core values (e.g. responsibility, honesty, sustainability, fairness)
  
  

• Moral duty to uphold these values
  
  

• Whether actions respect or violate these values
  
  

• Ethical judgement based on values, not profit or rules
  
  

Sector-based Ethical Framework

Focuses on standards of a specific sector (business, environment, health, tech, etc.).

• Sector rules, laws, and regulations
  
  

• Industry standards and best practices
  
  

• Professional codes of conduct
  
  

• Responsibilities specific to that sector
  
  

• Ethical judgement based on sector expectations

1.Case scenario

The case study discusses a multinational company that prioritises profit maximisation and cost cutting, resulting in environmental harm and negative impacts on local communities. With growing public awareness of environmental sustainability, stakeholders such as investors, customers, and advocacy groups are demanding that the company adopt more responsible and sustainable business practices.

Question 1: Drawing from the case presented, analyze the ethical considerations surrounding the company’s environmental practices through the lens of a value-based framework in ethics.

Using a value based ethical framework, the company’s environmental practices raise serious ethical concerns. By profit maximisation and cost-cutting measures, the company ignores moral values such as responsibility and sustainability towards the environment. This leads to environmental destruction, which further harms our ecosystem and our planet. Businesses have an ethical duty to act efficiently, considering the long-term impact of their actions on the environment and the planet. The company focuses on financial gain, ignoring their ethical duty, as it places making profit over environmental well-being. Therefore, the company should adopt more responsible and sustainable business practices, aligning its actions to focus on maintaining moral values such as sustainability. This will ensure long-term environmental protection.