Psychological egoism: human conduct is selfishly motivated and people cannot perform actions from any other motive . It implies that psychological egoism is the practical belief that the determining motive of every action done voluntarily is a desire for a person’s own benefit. Egoist points out that a person often tries to hide the determining motives for his actions because his concealment is self-interest.
In business, some executives believed that bribes are important costs of doing business in the other country, and this act is the hardest ethical dilemma an executive would face. For example, the Romanian state – owned company Oil Terminal; one of the largest oil products transport operators in Constanta harbor. It is revealed by a recent Economy Ministry audit that between 2009 and 2011, the company has spent EUR 18,200 on vintage wine, jewelry, gold watch, and women’s handbags. In addition, the audit has discovered that the company has unjustified expenditure of EUR 200,000 approximately paid in a contract with a law firm. It is vague whether the expenditures are simply bribes or the management has made personal procurement using the company’s money, an act considered as an ethical dilemma too.
Selfishness is part of human nature; an act of self-interest is a survival means. There are laws that exist as parameters to control on individual selfishness for the sake of greater good. It is unrealistic to suggest that selfishness can be eliminated. The only key to control egoism is an effective management. Any good companies aim to demonstrate self-confidence and initiative for the employees. Employees should contribute themselves and perform within their boundaries of acceptable demeanor to progress and the company as a whole. A corporate decision-making process illustrates the corporate pyramid; responsible for any decision that affects the company.
A person has to reflect on his own sense of ethical values and judgments, through it he is able to reflect on his own core values. It is also important to analyze the implications of the psychological egoism. Any answer to the question “how does the theory of psychological egoism fit within one’s body of ethics and values” is self-driven. The idea should address that people do everything for self-gain, people do everything for their own good. The theory of psychological egoism is identified based on a person’s own set of moral beliefs and ethical values; individualized experience and personalized answer. On the ethical issues and dilemmas, a subjective reflection is the sole acceptable way in understanding.
As commonly said that actions speaks louder than words; it is not what a company code or what a company’s top management say; however, it is what they actually do in their decisions on behalf of the company that count. Virtue ethics looks at human life as a whole, rather in terms of narrow moral parts and provides the opportunity for what she calls a rich psychological discussion .
Budrina, I. (2012, October 12). Intercultural: Cultural ethical dilemmas in business- from bribes
paying to political affairs. Romania Insider , pp. 1-5.
Fieser, J., & Moseley, A. (2012). Introduction to business ethics. San Diego, California:
Bridgepoint Education, Inc.
Nussbaum, M. (2014, March 12). Ethics. (I. I. Telecommunications, Interviewer)