Implications
of Ethical
Traditions
for Business
Objectives:
Understand justice theories, right theories, and
utilitarian theories in relation to business,
Propose virtue ethics as a superior framework;
Provide brief historical background for virtue
ethics;
The typical ethical theories or systems presented in
applied ethics courses, can be classified as follows:
Consequentialist (utilitarianism or teleological
(from the Greek telos or “end”) ethics;
o Utilitarianism consider the consequences of an
action.
Deontological or duty-based ethics (“Kantianism”)
o Duty-based theories hold that only the intrinsic
character of the action is relevant to evaluating it.
o Kantianism – emphasizes moral obligation
Pure aretaic ethics ( primarily Aristotelian-
virtue ethics).
o Pure aretaic ethics makes the agent’s character
paramount.
Possible view – the view that only traditions
and past influences matter in the evaluation of
an action.
Rights theories
refers to a person’s just claim or
entitlement
an individual’s entitlement to
something
as absence of prohibitions, authority
or existence of prohibitions.
focus on the person’s actions of
others toward the person
oLegal rights- a system of laws
oMoral rights – based on ethical
standards
Decision making rule – Let a person
freely pursue certain actions without
interference from others.
Justice theories
The ideal, morally correct state of
things and persons.
It is based on individual moral rights.
Three sub categories
oDistributive justice
oRetributive justice
oCompensatory justice
Virtue Ethics
Focuses on the process of personal moral character development.
Strength and weaknesses of the character of the individual.
Virtue Ethics: Historical Background
The classic Greek philosophers conceived ethics as “good life”
Plato convinced that there is an objective truth which is not simply
relative to an individual’s beliefs.
o He wrote Charmides – about temperance, the Laches about
courage and the Euthyphro about piety.
Aristotle pointed out that an ultimate end for the people
must be one that is self-sufficient, final and attainable.
o Happiness is the goal that meets these requirements.
Two vital concepts
Activity of soul – exercise of reason
In accordance with virtue – the quality of performance
o Virtue – refers to the excellence of a thing and refers to the
disposition to perform effectively its proper function.
o Virtue ethics – concerned with pursuing a certain type of
morally inclusive excellence.
o Eudaimonia – translated as happiness through moral
excellence.
Classic virtue theory, four human virtues stand out as
being the “hinge’ or “cardinal” virtues : courage
moderation, justice and prudence.
o Theory of virtue – “What is the purpose of business?”
David Hume – categorizes pride (vice) and humility
(virtue)
Immanuel Kant – existence of prior moral principles of
actual experience.
o Categorical imperative – unconditional directive for
behavior.
Abstraction:
The Implications of Ethical Traditions for
Business is all about ethical frameworks such
as justice theories and right theories, and also
virtue ethics and its’s historical background.
Assessment: Essay
Assignment:
Read and study The Filipino Value System
and Business Ethics Challenges
Reference: Any Business Ethics and Social
Responsibility book/ google/internet
