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¶ … ethical?
The first option is by far the most ethical from a utilitarian perspective. The first option allows the business to maintain its going concern condition. It will also help mitigate the damage of layoffs, wage restrictions, and benefit reductions to staff. This option, therefore provides the greatest amount of good to society at the lowest possible cost. The reputation of the business would also remain intact, further providing benefit to society, in that management is dedicated to its employees.
From an egoism perspective, the second option would be the most ethical. It allows for Joe Woodman, to serve his own needs at the expense of lost jobs, wages and benefits to others. Under the assumption that Joe wants to maintain control of the business, this alternative allows him to do so, while also helping the company generate stable and consistent cash flow. The use of expert management, would also provide credibility to his business aided in his pursuit of control .
2) How does egoism come into play in this case? In which of the three cases is altruism most apparent?
Egoism comes in to play in multiple facets within this case. First Joe must decide...
Assuming that Joe operates in a capitalistic environment, providing the greatest good to society may put Joe in an adverse circumstance collectively. For instance, option 1, maintaining workers in a business that is struggling to generate stable cash flows, will hinder his ability to maintain control of the business, or even to have the business survive. If the business fails, then society will ultimately benefit as it has gotten rid of an inefficient, unproductive operation. The banks and investors capital can then be deployed in more meaningful, higher return, and better businesses. By tying up the banks, the investors, and Joe's money in a struggling business, capital that could have been deployed in a more meaningful manner, is stuck paying salaries, benefits, and bonuses to an unproductive business. If the company is not generating stable cash flow, this must indicate society does not need Joe's products, or a competitor can provide a substitute product at a lower cost, thus benefiting society in a more meaningful manner. Altruism, or selflessness would be displayed in option 1, although, as indicated above, this…
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