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Title: Principles of Management
Contents
Pros and cons of universalism, utilitarianism and virtue ethics    3
Pros and cons of universalism    3
Pros and cons of utilitarianism    3
Pros and cons of virtue ethics    3
Philosophy with most merits    4
Documentary: Inequality for all    4
Ethical code    5
Utopian society    6
Code of ethics for a company    6
Pros and cons of cultural relativism    7
Work cited    9
Pros and cons of universalism, utilitarianism and virtue ethics
Pros and cons of universalism
Pros of universalism:
1. Represents a view about the shared characteristics of human beings
2. Helps to treat people fairly and equally
3. Represents justice for all
4. The actions undertaken in a particular situation are common for all under all circumstances
5. Helps to avoid discrimination based on age, gender, color, caste or religion.
Cons of universalism:
1. Does not help to co
ect imbalances in the organisation.
2. May harm moral foundation
3. May not take into consideration the deprived and unprivileged people.
Pros and cons of utilitarianism
Pros of utilitarianism:
1. Focuses on making life better
2. Secular system focusing on humanity
3. Creates morality through reasonable and simple principles
4. Focuses on democratic processes
5. Focuses on objective as well as universal solutions
Cons of utilitarianism:
1. Focuses mainly on happiness
2. May create unrealistic perspective of society or working environment
3. Can be unpredictable
4. Relies mainly on people to make consistent decisions
5. May give more privileges to people who are in majority about a particular opinion.
Pros and cons of virtue ethics
Pros of virtue ethics:
1. Allows people to maintain good interpersonal connections
2. Motivates to work on morality
3. Focuses on self improvement
Cons of virtue ethics:
1. Virtues may change with time
2. May cause moral dilemmas
3. May not help to solve ethical conflicts
Philosophy with most merits
    Utilitarian approach is the philosophy with most of the merits because it helps to make ethical choices, which will create greatest good for most number of people. In the opinion of Painter –Morland an action is considered to be right if it creates happiness for most number of people. This helps to analyse the conditions and motivate the employees to thrive for their happiness.
Documentary: Inequality for all
    After watching the documentary Inequality for all it can be infe
ed that the gap between the rich and the poor is widening negatively impacting the economy as well as the social culture of the region. If the masses are poor it cannot be expected that the economy will boom because poor people may not focus on their health and education and thus cannot be productive people who shall contribute for the growth of the economy. Uneducated poor masses cannot help in the growth of the economy.
The time period of 1950-1975 was considered as the boom years when a sudden expansion was observed in the economy. This period was also known as the era of...