1. Ethics Theory and Business Practice 6.3 Ethical Relativism – Part Three Existentialism: Endorsing Personal, Ethical Conviction

2. aims to explain how the existentialist notions of bad faith and authenticity relate to business ethics to consider how authenticity might be encouraged in business settings

3. one possible response to ethical relativism ethical nihilism since there are no irrefutable ethical standards to regulate business activity, there is no point in bothering about ethics in business and if there is no reason to bother about ethics in business, anything goes

4. an alternative response to ethical relativism ethical authenticity since there are no irrefutable ethical standards to regulate business activity, businesspeople should follow their own innermost convictions in doing so they should reflect on the extent that those convictions might be influenced by their life experiences and personal interests ultimately, every businessperson is accountable for their own ethical opinions and their own actions

5. existentialism: celebrating authenticity some key concepts: 1.freedom 2.bad faith 3.authenticity (Sartre, 1973/1946, 2003/1943)

6. 1. freedom freedom from the constraints that we place upon ourselves freedom to make our own ethical choices the intrinsic worth of committed choice

7. 2. bad faith consists of two forms of self-deceit denying facticity denying our capacity to respond to facticity as we choose www.youtube.com/watch?v=yjWUwGbyf7w

8. 3. authenticity avoiding bad faith acknowledging the influences that facticity exerts over the choices that we make asserting their capacity to transcend facticity ‘my future is virgin; everything is allowed to me’ (Sartre, 2003/1943: 88) http://movieclips.com/QJzRq-margin-call-movie-be-first-be-smarter-or- cheat/ http://movieclips.com/EAwXc-margin-call-movie-its-just-money/

9. implications for business ethics ethical accountability businesspeople can always be held accountable for the ethical choices that they make and the things that they do encouraging authenticity corporations should do what they can to encourage employees to develop their own capacity to make informed ethical judgements, to act on those judgements, and to assume personal responsibility for their actions

10. theory in practice bribery and corruption in the arms trade

11. key points the absence of objective, universal standards need not imply a nihilist approach to business ethics instead, an existentialist response highlights the importance of personal ethical conviction it also highlights the importance of businesspeople being encouraged to make their own ethical judgements and to act on them

12. references Sartre, J.-P. (1973/1946) Existentialism and Humanism, P. Mairet (trans.). London: Methuen. Sartre, J.-P. (2003/1943) Being and Nothingness, H.E. Barnes (trans.). Oxford: Routledge.