Egoism and Altruism

By
Dr. Ketki Bhatti
Introduction
Human values decide the standard of behaviour.
Altruism is an aspect of moral philosophy in which
it is argued that moral decisions should be based

upon the interests or well-being of others rather
than on self-interest.
Ethical egoism is belief that one ought to do what
is in ones own self-interest. What is in ones selfinterest may incidentally be detrimental to others,
beneficial to others, or neutral in its effect.
What is Altruism?
Altruism revolves around the question of morality I
ought to act in the interest of others.
In ethical altruism the issue of morality revolves around
the idea that in order to live a morally correct life one

must act in the interest of others. But acting in the
interest of others does not imply a reward
E.g. A politician donates money to a charity because it is
the right thing to do, is honest act of altruism.
But, the politician who donates money to a charity in
order to gain favourable public opinion is not act of

altruism.
What is Egoism?
Egoism revolves around the question: I ought to act
in the interest of myself.
In ethical egoism the issue of morality revolves around
the idea that people must do what is best for

themselves in order to live a morally correct life.
When someone strives to reach a goal and sees others
as an obstacle to their success, they could be viewed

as egoists. In some cases of egoism, the idea of acting
out of ones self interest sometimes even extends to
overlooking others interests in order to satisfy your
own.
Is Altruism Really
Egoism?
One should not get fooled by the egoism.
For e.g. Doctors, social workers, engineers and
humanitarians alike give up their time and

expertise to improve the life of those living in
impoverished countries.
These humanitarians must have had some self-
interest in order to build on the foundation of

knowledge they have acquired. It took some
actions on their own self-interest to get where
they are now.
Whether it was motivation driven by the interest to
attain more knowledge or the lure of future financial

success, is irrelevant.
Either way these people were clearly acting
according to the foundation of egoism, by acting out

of ones self interest.
When someone helps a fellow human being because
they enjoy the feeling it gives them, is in fact a

quality of egoism. Altruism rather than egoism, has
a better outline for how one should live life.
Combination of the two is probably more realistic.
Altruism rather than egoism has a better outline for
how one should live life, combination of the two is

probably more realistic.
Definition: Entrepreneur
and
Manager
An entrepreneur
is a person who initiates of a
new enterprise, venture or idea and assumes
significant accountability for the inherent risks
and the outcome.
An entrepreneur is one who undertakes an
enterprise. Entrepreneur is a person who sets

up a business or businesses, taking on greater
than normal financial risks, in order to do so.
Ideology-Milton Friedman
The Social Responsibility of Business is to
Maximise its profits.

Profit maximization is the exclusive goal of
business management.
The expectations of others (as reflected in
law, ethical custom, and potentially hostile
reactions) serve as constraints on a
managers ability to achieve the exclusive
goal or profit.
Personal Ethics V/s

Professional Ethics
There are two kinds of ethical obligation in
business:
There are obligations that business people have
simply as human being.
There are further obligations they have as
members of a profession.
Personal ethics questionWhat should I do as a human being?
What should I do as a professional?
If there is a conflict, how should I resolve it?
Why Professional ethics?

Expertise is a particular area
The disposition to apply it responsibly.
The members of a profession profess.
Special obligation of ManagersTo generate wealth.
To provide meaningful and gainful
employment.
To contribute to social order and stability.
Manager-Who is he/she?
One who identifies and achieves
organisational objectives through the

deployment of appropriate resources.
Responsibilities- Managing activities,
managing resources, managing information,
managing people and managing him or
herself.
Planning and directing the work of a group of
individuals, monitoring their work and taking
corrective action when necessary.
Difference between
Entrepreneur
and
a. The main reason for an entrepreneur
Comprehends the venture for his individual
Manager
satisfaction and has personal stake in it. A
manager provides his services in an
enterprise established by someone.
b. An entrepreneur- Bears all risk and
uncertainties where as a manager doesnt
own it.
c. Entrepreneur- Innovative. ManagersSupervise and create routines.
Entrepreneur- Faced with more income uncertainties
as his income is contingent on the performance of

the org. Managers compensation is less dependent
on the performance of the organisation.
Entrepreneur- Not induced to involve in fraudulent
behaviour. Manager- May cheat.
Entrepreneur- Qualities like high accomplishment
motive, innovative thinking, fore thought, risk
bearing ability but not qualified to be a good
entrepreneur. Manager- To be educated in the fields
of management theories and practices.
Entrepreneur- Faults and Failures as a learning exp.
Managers- Makes every effort to avoid mistakes and
he postpones failure.

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By

Dr. Ketki Bhatti

it is argued that moral decisions should be based

Ethical egoism is belief that one ought to do what

ought to act in the interest of others.

In ethical altruism the issue of morality revolves around

the idea that in order to live a morally correct life one

E.g. A politician donates money to a charity because it is

the right thing to do, is honest act of altruism.

But, the politician who donates money to a charity in

order to gain favourable public opinion is not act of

in the interest of myself.

In ethical egoism the issue of morality revolves around

the idea that people must do what is best for

When someone strives to reach a goal and sees others

as an obstacle to their success, they could be viewed

humanitarians alike give up their time and

These humanitarians must have had some self-

interest in order to build on the foundation of

Whether it was motivation driven by the interest to

attain more knowledge or the lure of future financial

Either way these people were clearly acting

according to the foundation of egoism, by acting out

When someone helps a fellow human being because

they enjoy the feeling it gives them, is in fact a

Altruism rather than egoism has a better outline for

how one should live life, combination of the two is

enterprise. Entrepreneur is a person who sets

Maximise its profits.

Personal Ethics V/s

Why Professional ethics?

organisational objectives through the

Entrepreneur- Faced with more income uncertainties

as his income is contingent on the performance of

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