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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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Virtues are only acquired through the habituation of doing the right things voluntarily. Aristotle also believed that a person doing the right thing and reaching the mean of a virtue should be brought pleasure by their actions. In a class discussion we defined character as the sum of all of our virtues, combined with how we use those virtues to influence our decisions and actions. The virtues I found most applicable in this case study are: integrity, humility, and loyalty. Integrity is a very influential virtue in this case, as

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I really like this article, and agree with most of his point. One of the quote in the article that like the most is when the author says, “a life that exhibities the virtues is for that very reason a better life: not because the act of virtuous have good consequences;” I agree with this quote because people are more likely have different attitude in different situation. The way we act, we think and do what we do is more depend on the norms rather than the compassion in our heart. We do something good by helping people out is the thing that we feel like we want to do. When we try to help someone who needs us; we will automatically feel happy in our heart.

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For example, according to Klemens, work ethic is also important to society and economy. During the period of post-WWII, capitalism stimulated the development of economy in the U.S. Due to the “fast-growing economy”, Americans were so proud of their powerful country and “hard-working” figures. Since this period, work ethic has been the most “powerful and valued American social trait”. However, one possessing a good work ethic is not enough, because one also needs to work wisely. In brief summary, in order to be a good worker, it does not matter how challenging a job is or how much time it takes to complete, but whether work entails diligence and wisdom.

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A virtue is when a person behaves in a moral manner. Certain virtues that societies should possess can be harmful. Typically, good virtues, such as honor, courage, and compassion. are commonly used by people as a way of living. Every society should live by the good virtues and strive to ensure that all citizens are treated equally.

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If employees are not familiar with the company’s goals and what the company is expect from them they won’t be able to perform good. Successful organizational culture requires a team work. Johnson should establish the espoused values of the company. These are the stated values and norms that are preferred by the company (Kreitner, 2013, p.63). Johnson should set the basic assumption which values employees (Kreitner, 2013, p.65).

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The virtues aren’t for any one specific group but a group as a whole. Man should follow the virtues and not vicious actions because vicious actions are harmful. Franklin believes that everyone should take interest in being virtuous if they “wish’d to be happy even in this World.” (Franklin, 433) Franklin’s 13 Virtues was a guide for Americans and future generations to follow to become the model citizens they believed they were.

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Aristotle describes virtue theory as an ethical theory that emphasizes an individual 's character rather than following a set of rules. Breaking it down even further to specify knowing right from wrong, being able to read an atmosphere by knowing what is right, and it is the midpoint between two extremes. Dr. Martin Luther King Jr. display to be a virtue ethicists through his letter oppose to being a deontologist or utilitarian. Laws define a set of rules that the people should follow; however, there are unjust laws that are meant to be challenged.

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Moral virtue can be defined as, “A dispositional trait of character that is morally valuable and reliably present” (Beauchamp and Childress, 31). Moral virtue is important in virtually every situation that we encounter in our everyday lives. For example, a person would be considered virtuous if they were consistently trustworthy in everyday situations. Trustworthiness is a trait that is generally considered to be morally valuable; however, the key to it being a virtue is that the person must possess that trait consistently. It is not enough for one to merely exhibit that trait once.

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1. Introduction – ethics – what are they? Ethics (or moral philosophy) is the kind of philosophy that define concept of right or wrong conduct. In practice, ethics try to resolve questions of human morality, by explaining concepts of good and evil. Ethics, culture, morals – are bind together, they are embedded.

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CAN A MANAGER BECOME A GOOD LEADER SIGNIFICANCE OF THE CONCEPT It is important to distinguish an effective manager and a good leader, also to recognise the concept of being a good leader as well as an effective manager, managers aspiring to become a leader can benefit from acquiring leadership skills, a good leader possess several qualities that could easily be termed as good managerial skills. Hence a leader must be well developed physically, mentally and intellectually to be able to assume such positions. In this current challenging world is crucial for every manager to possess excellent management skills and develop exemplifying qualities of a good leader.

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Intellectual virtues which come from practical and theoretical wisdom. This requires experience and knowing the right way to do the right thing. This is reason in the strict sense. Then there are virtues of character e.g. courage and generosity i.e. moral virtues. and play a crucial role in perfecting our desires and emotions e.g. fear and greed, that we can become victim too.

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The effective managerial skills are important in all level of managements. Managerial skills are the ability and knowledge of the individuals in a managerial position to fulfill some specific managerial activities or tasks. So that, managers need skills which are human skill to manage themselves, technical skill to understand the business environments and conceptual skill to solve problem. I found it difficult to fulfill this skill because each of those skills need to complete without lacking to be top manager. When I was a class monitor in high school, I did wrong decision and we fail our success.

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Essential Virtues: Achieving a Good Life Man has always sought after what he deemed a “good life”. A good life is being able to achieve one’s goals, pursuit of happiness, or when life’s blessings outweigh the burdens. Virtues help guide one to become morally excellent and live a fulfilling life. A virtue can be a behavior, personality trait, or habit that affects one’s emotions, perceptions and choice in life.

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Virtue ethics started drawing attention since the modern ethics exposed its limitation and reconsideration about the priority was needed. Contemporary ethics focus on “What we should do”, instead of “What kind of person we should do”. In consequence, the moral codes in modern era solely emphasizes moral duty and rules, while neglecting personality and character of individuals. Virtue ethics support the traditional criterion that consider moral virtue and personality of individuals as important. The virtue of good engineer includes creativity, good understanding of culture, morality, and capability of communication.

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Basically, ethics are at their essence which is it is the moral judgments about what is right and what is wrong. Business ethics is focusing on examine the policies and conduct within the context of commercial enterprise in an organizational as well as in an individual level. In business, the ethics in business is an applied ethics where professionals and researchers use principles and theories to solve any ethical problems that exist in business. At the quarter of the 20th century, as technologies like internet have made world business or international business all more viable, the business ethics domestically have grown in importance along with the power and significance of major businesses. So that, international business ethics take center stage as a major concern of the modern era.

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