WEEK 5

Foundation of Principles
of Business Ethics

Classical Philosophies
 What is Virtue?

Virtue is
moral excellence; goodness
and righteousness.

It is also a conformity
of one's life and conduct
to moral and ethical
principle; uprightness and
rectitude

https://www.leamington.school.nz/304/pages/29-
virtues
 Why are Virtue Ethics important to
run a Business?

Ethics is:
-The rules of conduct recognized in respect to a
particular class of human actions or a particular grou
p, culture.

-It is also a system of moral principles

Moral principles focus mainly on people’s

doings, behaviors and actions.

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 Philosophers
1. Socrates (c469-399BC), Greek Philosopher

“The only true wisdom is in knowing you know nothing.”

“I cannot teach anybody anything, I can only make them

think.”

“Beware the barrenness of a busy life.”

2. Confucius Philosopher
“The expectations of life depend upon diligence; the mechanic that
would perfect his work must first sharpen his tools.”

Choose a job you love, and you will never have to work a day in your
life.

The superior man understands what is right; the inferior man

understands what will sell.

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 Philosophers
3. Plato (c428-348BC), Greek Philosopher
“Be kind, for everyone you meet is fighting a hard battle.”

“Courage is knowing what not to fear.”

“One of the penalties for refusing to participate in politics

is that you end up being governed by your inferiors."

4. Aristotle (c384-322BC), Greek Philosopher

“Educating the mind without educating the heart is no
education at all.”

“We are what we repeatedly do. Excellence, then, is not

an act, but a habit.”

“Pleasure in the job puts perfection in the work.”

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 Business Situation
How you conduct yourself
at work says a lot about
your sense of ethics.
Ethics and behavior at
work can help make or
break a company because
values and ethics helps to
maintain order in the office,
helps the company’s
operations run smoothly
and they help maintain the
company’s profitability.

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