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Discussion: The Balance Sheet Dilemma

Joseph Intriago posted Jul 23, 2019 3:38 AM

According to Utilitarian ethics, the concerns pertain to the outcomes of ethical decisions. Thus, utilitarian ethics can be regarded as a consequential theory where the notion is that the consequences of an action should be the most essential determinant of an action being moral or not (Quinton, 2016). As such, if an action is not good but the consequences turn out to be good, under utilitarian ethics the action could be deemed good (Quinton, 2016). With regard to the industrial firm, including the financial liability would harm the company’s current stock holders financially. On the other hand, excluding this financial liability would result to overvaluing of the company and future buyers of the company’s stock would be misled. Given that any decision would negatively affect innocent people, it would be important for the company to act ethically and in good faith because the truth will eventually set it free.

The industrial firm needs to employ virtue ethics in its operations, where it should employ honesty, faithfulness, and sincerity. Regarding the balance sheet, I would include the financial liability because in the long last the company would have to account for the liability. Again, it is important to act ethically so as this would go a long way in maintaining the company’s integrity and building trust with its clients and the authorities.

References

Quinton, A. (2016). Utilitarian ethics. La Salle, Ill: Open Court.