Virtue Theory In Business Ethics

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The virtue theory, which pursues virtuous principles, strategies and actions, can lead companies to understand their values, including mission, purpose, profit potential and other objectives. Virtuous employees tend to perform their roles consistently and competently in the direction of the company's goals. Virtues are the kind of thing you allow someone to take action to appreciate. Business people increase their likelihood of reaching their values and goals when they reach Objectivist virtues. Virtues emphasize the importance of each employee's valuable contribution. The virtues that are valid to explain what a perfect manager, leader, manager or employee mean necessary. The virtue theory argues that ethnicity is a natural part of the work…show more content…
Virtue theory is more comprehensive and practical than traditional approaches to business ethics because it is about the type of person. Virtue theory is concerned with the cultivation of character and it provides happy life. Moral growth comes from choice rather than rules. Virtue ethics emphasizes the process of individual moral character development. Virtue theory helps to develop principles, tactics and procedures of business. Virtues can play a big role in achieving economic success. Virtues-driven firms are more likely to maximize profits. However, acting virtuously does not always result in high profit because there are also many factors in business life. To accomplish a success, there needs to be number of goals within a business. Each and every goal should be analyzed to determine the potential impact on firm…show more content…
Virtuous managers need to be energetic, productive workers who focus on reality. They need to act objectively, rationally, and logically. Their communication skills need to be improved to have a good relation with employees and customers. When they evaluate business situations, they need to be objective. They need to use time efficiently to be well-organized. Virtuous managers should begin by understanding what the facts are. Much of morality in business falls under the rubric of honesty. Honesty means being fit on reality. Dishonesty means self-delusion and in the long term, business will collapse.Honesty is closely related with success and it is one of the business virtues that managers should have. For example a trader, earns what he gets and does not give or take the undeserved but virtuous trader must make sure that customers get what they pay for. Virtious manager honestly appraise based on their contribution toward achieving a firm’s mission, values, and goals. The right form of management over an employee's staff is crucial because it requires a lot of management skill to make sure that the employee moves in a single vision and mission. But the
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