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Virtue, Ethics And Morality In Business

Virtue, Ethics and Morality in Business

To understand, virtue, ethics, and morality we must first understanding there meanings.   According to Boatright, “”morality and ethics are interchangeable; however, they have some subtle differences.” (Ethics and Conduct of Business, Boatright)   Webster’s Dictionary describes ethics as the discipline dealing with what is good and bad and with moral duty and obligation; a set or moral principles.   Webster’s Dictionary describes moral as of or relating to principles of right and wrong in behavior;   expressing or teaching a conception of right behavior; conforming to a standard of right behavior; sanctioned by or operative on one's conscience or ethical judgment. Webster’s Dictionary describes virtue as conformity to a standard of right.   Aristotle’s’ definition of virtue, which I prefer, “virtue is as character trait that manifests itself in habitual action”.
Virtues are inherited traits that are practiced on a daily bases. You would not know what type of virtue a person has such as honesty by meeting them once, you would truly have to get to know that person.   Knowing these definitions makes Boatright’s theory make a little more sense.   To be ethical you have to have morality.
Business virtues are having a sense of pride and self-respected in what you do; to make sure you can get along with others. Making a good life for yourself, family and your community should mean more than just making money. When you go to bed each night with the feeling you made a difference for the better, for that day, you should feel that you have done your job.
Business Ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior. A definition for business ethics boils down to knowing the difference between right and wrong and...