Aristotle viewed ethics as consisting of intellectual and moral virtues. Intellectual virtues can be learned through training, while moral virtues are developed through habitual behaviors over a lifetime. For Aristotle, a moral person consistently acts morally due to having developed strong moral habits and dispositions. Aristotle also distinguished between intrinsic goods, which are good in themselves, and instrumental goods, which aid in achieving intrinsic goods like happiness. In business, profitability could be an intrinsic goal if pursued in a way that considers stakeholders and society.
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Lecture -(ii) Virtue Theory (Developing Ethical Habits)
Aristotle viewed ethics as consisting of intellectual and moral virtues. Intellectual virtues can be learned through training, while moral virtues are developed through habitual behaviors over a lifetime. For Aristotle, a moral person consistently acts morally due to having developed strong moral habits and dispositions. Aristotle also distinguished between intrinsic goods, which are good in themselves, and instrumental goods, which aid in achieving intrinsic goods like happiness. In business, profitability could be an intrinsic goal if pursued in a way that considers stakeholders and society.
Aristotle viewed ethics as consisting of intellectual and moral virtues. Intellectual virtues can be learned through training, while moral virtues are developed through habitual behaviors over a lifetime. For Aristotle, a moral person consistently acts morally due to having developed strong moral habits and dispositions. Aristotle also distinguished between intrinsic goods, which are good in themselves, and instrumental goods, which aid in achieving intrinsic goods like happiness. In business, profitability could be an intrinsic goal if pursued in a way that considers stakeholders and society.
Aristotle finds virtue to be of two types: (1) Intellectual Virtue and (2) Moral Virtue. Type one: we can learn this (intellectual virtue)by training ( e.g., how to run a computer, how to do calculus, how to operate a lathe). • Type two: This (moral virtue) can only be obtained through habitual behavior. We develop them by engaging in moral activities. • We develop moral habits over a lifetime. • Morals like manners are part of training young people receive in a society in order to help them function well and be successful at the business of being a human being. The Moral Disposition • What do we mean by calling someone a moral person? Aristotle answers this by saying that ‘a truly moral person is one who has developed a moral disposition through the development of right habits and whose behavior is, as a result, consistently moral’. To explain this a contemporary writer says that it is the difference between being a good player and merely having a lucky shot now and then. • Virtue is a matter of quality rather than particular actions. • The goal of moral action is to develop character traits similar to those of outstanding individuals. • How is this related to business context? It is apparent that if the company’s corporate culture is filled with stories of predatory business practices and legal but not necessarily moral activities, it gives message to the employee that do anything you have to do, cut any corners possible to advance the company’s interest. Intrinsic and Instrumental Good • An intrinsic good is something that is good in itself, like health. We seek health not just because it is good for something else but because it is something we desire for its own sake. • Other activities, such as playing football, jogging, cycling (i.e. regular exercise) that aid to our health are instrumental goods. • For Aristotle, it is happiness for which we do everything. So happiness is intrinsically good. As health contributes to happiness, it is not intrinsically good but rather instrumentally good. Happiness (………) 1. An intrinsic good 2. A lifetime pursuit 3. Must be sought indirectly • If we apply these concerns to a business context, we would have to say that business’s intrinsic goal, like happiness, is long-term profitability. Business and Profit • Although there are challenges from right and left to business, today profit is viewed as potentially a contribution to the public good by providing the basis for job creation, economic growth , and technological innovation. • Now the question is: what kind of behavior is the best support to a company's profitability? • Tom Peters and Waterman, in their book In Search for Excellence, say that profit could be increased by ensuring the quality and service. • Examples include Ben and Jerry’s homemade ice-cream parlor (see page 57 of Stewart’s book). • Individual and Organization: :Aristotle’s emphasis on ‘friendship’ has business correlation. :Business includes loyal customers, faithful stockholders, and dedicated workers. : Success of Japanese manufacturing has been attributed to its practice of cultivating networks of suppliers and distributers who are called Keiretsu (group). . In such relationships, manufacturers and suppliers cooperate to produce the best product at the lowest cost. Lester Thurow asserts that the keiretsu suppliers are the best suppliers. This practice is supportive of the practices of communitarian form of capitalism. Thurow labels it communitarian capitalism. Japan and Germany possess this type of value. Contrariwise Thurow states that USA and UK trumpet individual values ( e.g., the brilliant entrepreneur, large wage differentials, hostile mergers and takeover). Thurow labels it individualistic capitalism. David Stewart says that it is not easy to answer which capitalism is better. For him history will tell us which theory is right. But here the point is that both in Aristotle’s ethics and communitarian form of capitalism , individuals find meaning in being part of a larger whole. • The role of moderation: • Aristotelian theme: moderation means seeking the mean between extremes( such as, between individualistic and communitarian capitalism). • Moral development: • Although Aristotle was convinced that people develop their moral character over time, he did not describe how this happens. Harvard psychologists Lawrence Kohlberg seems to provide a guideline principle in this regard. • He centered his research on describing the stages of moral development through which individuals pass as they mature in their moral judgment. They are as follows: • . The Preconvention level • The conventional level • Post conventional level : The preconvention level is the one of punishment and reward. : The conventional level is one in which we seek the approval of others and submit to authority. : The postconventional level is the highest level of moral development in which people seek the general welfare and act according to universal moral principle.