Can you use 3 philosophical theories to analyze whether it is more important for a business to be ethical or lawful?

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jraineharrison eNotes educator| Certified Educator

Three philosophies that affect business law and ethics include utilitarianism, justice and practical ethics.  

Utilitarianism takes into account the greatest good for the greatest number of people.  That is, the laws and the ethics of the organization should consider how they can best benefit the most people in the best way possible.

Justice indicates that ethical policies and laws are determined by what is fair or impartial.  They wish to consider whether or not each person would be treated equally, or impartially, under a given policy.

Practical ethics considers what would the average person think is acceptable.  This becomes problematic when the company is an environment that the average person thinks that discrimination is acceptable.