NOTRE DAME OF JARO INC.

Msgr. Lino Gonzaga St. Jaro, Leyte

notredame.jaro@yahoo.com.ph
QUARTER 3 – BUSINESS ETHICS & SOCIAL RESPONSIBILITIES 12
WEEK 4
NAME&YR/SECTION:
_________________________________DATE:___________

Classical Philosophies specifically

Virtue Ethics
OBJECTIVE:
 Compare and contrast classical philosophies as they relate
to the business setting.

Virtue Ethics (or Virtue Theory) is an approach to Ethics that

emphasizes an individual's character as the key element of ethical thinking,
rather than rules about the acts themselves (Deontology) or their
consequences (Consequentialism).

ACTIVITY 1:
Who are the three Philosophers that has a big impact in terms of business ethics?

DISCUS
SION
Eudaimonism is the classical formulation of Virtue Ethics. It holds that the proper goal of human life
is eudaimonia (which can be variously translated as "happiness", "well-being" or the "good life"), and that
this goal can be achieved by a lifetime of practicing "arête" (the virtues) in one's everyday activities,
subject to the exercise of "phronesis" (practical wisdom) to resolve any conflicts or dilemmas which might
arise. A virtue is a habit or quality that allows individuals to succeed at their purpose. Therefore, Virtue
Ethics is only intelligible if it is teleological (i.e. it includes an account of the purpose or meaning of human
life), a matter of some contention among philosophers since the beginning of time.

Aristotle, with whom Virtue Ethics is largely identified, categorized the virtues as moral virtues
(including prudence, justice, fortitude and temperance) and intellectual virtues (including "sophia" or
theoretical wisdom, and "phronesis" or practical wisdom). Aristotle further argued that each of the moral
virtues was a golden mean, or desirable middle ground, between two undesirable extremes (e.g. the virtue
of courage is a mean between the two vices of cowardice and foolhardiness).

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 Agent-Based Theories, as developed recently by Michael Slote (1941 - ), give an account of virtue
based on our common-sense intuitions about which character traits are admirable (e.g. benevolence,
kindness, compassion, etc), which we can identify by looking at the people we admire, our moral
exemplars. The evaluation of actions is therefore dependent on ethical judgments about the inner life of
the agents who perform those actions.

Socrates, as represented in Plato's early dialogues, held that virtue is a sort of knowledge (the
knowledge of good and evil) that is required to reach the ultimate good, or eudaimonia, which is what all
human desires and actions aim to achieve. Discussion of what were known as the Four Cardinal Virtues
(prudence, justice, fortitude and temperance) can be found in Plato's "Republic". He also claimed that the
rational part of the soul or mind must govern the spirited, emotional and appetitive parts in order to lead
all desires and actions to eudaimonia, the principal constituent of which is virtue.

The concept reached its apotheosis in Aristotle's "Nicomachean Ethics" in the 4th Century B.C..
Aristotle held that eudaimonia is constituted, not by honor, wealth or power, but by rational activity in
accordance with virtue over a complete life, what might be described today as productive self-
actualization. This rational activity, he judged, should manifest as honesty, pride, friendliness, wittiness,
rationality in judgment; mutually beneficial friendships and scientific knowledge.

The Greek idea of the virtues was later incorporated into Scholastic Christian moral theology,
particularly by St. Thomas Aquinas in his "Summa Theologiae" of 1274 and his "Commentaries on the
Nicomachean Ethics". The Christian virtues were also based in large part on the Seven Virtues from
Aurelius Clemens Prudentius's epic poem (written c. 410 A.D.): chastity, temperance, charity, diligence,
kindness, patience and humility. Practice of these virtues was alleged to protect one against temptation
from the Seven Deadly Sins (lust, gluttony, greed, sloth, wrath, envy and pride).

EVALU
ATION:
What is difference between the history of Philosophies of business on how we are managing business tis
days?

For some questions and inquiries, you can contact me at the following:

Email Address: terradobsed@gmail.com

Facebook Account Name: Via Terrado Cañeda

PREPARED BY:
___________________________________
Name & Signature of Student
MRS. VIA T. CAÑEDA
TEACHER
___________________________________

Name & Signature of

Parent/Guardian

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