1. Ethical relativism.
It holds that there is no correct moral code at all times and peoples, that each group has its own morality, relative to its wants and values, and that all moral ideas are relative to a particular culture. According to that, there is no absolute morality and what is good is different for each individual, social group or historic period.
2. Hedonism.
It is an ethical doctrine that claims pleasure as norm of morality. From this point of view, good involves happiness and pleasure, and evil involves unhappiness and pain.
3. Stoicism.
The stoics considered destructive emotions to be the result of errors in judgement. They defend apathy (state of imperturbability)or indifference to pleasure, and their greatest virtue is the peace of mind.
4. Epicureanism.
It is a kind of moderate hedonism. Epicurus thought there are two causes of pain that should be avoided: to abuse and not to use something. The highest virtue is prudence, which enables an individual to govern himself by the use of reason and to make intelligent choices, so we could avoid pleasures that lead to greater pains.
5. Natural law ethics.
It teaches that there exists a natural moral law which is manifested by natural light of human reason. It demands the preservation of natural order. In this theory, moral law is apprehended by reason, which directs us towards good as goal of our action.
Every of us have his own voice of reason or conscience, and we know if we are doing right or not. This theory says that we can’t run away from our conscience.
6. Consequentialism.
This theory maintains that morality of an action is determined solely by its consequences. Then, something is right if it produces a good outcome.
7. Deontologism (duty ethics).
It is sometimes also called imperativism. This theory considers the intrinsic significance of the act itself as the criterion for determination of the good. In determining the ethics of a situation, a person must consider the motives of the action, not the consequences of the act.
8. Utilitarianism.
It defends the greatest happiness of the greatest number is the test of right and wrong. As a consequence, an action is good if it produces as much or more good than the alternative behaviour. The ethical value of a conduct is determined by the utility of its results.
There isn’t any action intrinsically right, moral or good. It depends on the results.
One should not just consider one’s happiness or benefit, or happiness of a particular person or group, but the overall balance of the greatest benefits for greatest number of people.