Virtue Ethics: Making Decisions: Based on Integrity & Character

 Virtues can be those character traits that would constitute a good and meaningful
human life.
 Seek a full and detailed description of those character traits, or virtues that would
constitute a good and full human life.
 Egoism ‘self-Interest’ Vs. ‘Altruism’.
 Virtue ethics seeks answers of not what a person should do but who the person is.
 Identity wants, beliefs, values & attitudes.
 Character dispositions, relationships, attitudes, values & beliefs.
 Character of a person is part of the person’s identity.
 Consider every time the type of person to take action.
 The degree to which we are capable of acting for the well-being of others therefore
seems to depend on a variety of factors such as our desires, our beliefs, our dispositions,
and our values’ in short, it depends on our character or the type of person we are.
 Virtue ethics highlights the role of situations in creating characters.
 Many ethical dilemmas arise from the tension between the type of person we seek to
be and the type of person business expects us to be.
 For Example: Ethics in Advertising (Aimed at children): What kind of institutions
encourages people to treat children in ways that they willingly admit are indecent?
What kind of person does one become working in such an institution?

Virtue in Practice
 Ancient Greeks have identified four primary virtues: Courage, Moderation, Wisdom, and
Justice.
 Early Christians described the three cardinal virtues: Faith, Hope & Charity.
 According to Ancient & Medieval Philosophers the virtues represented a balanced man,
the “golden mean”, between two extremes, both of which would be considered vices.
 For example; a brave person finds the balance between too little courage, which is
cowardice, and too much courage, which would be reckless and foolhardy.
 The virtues are those character traits or habits that would produce a good, happy, and
meaningful life.
Is Selfishness a Virtue?
 Tension between ethics & self-interest.
 Ethical responsibilities require that we sometimes restrict our own actions out of
consideration for the interest of other people.
 Some thinkers concluded it is unreasonable & unrealistic.
 Unreasonable because it would be too much to ask people to act against their own self-
interest.
  Unrealistic because, in fact, it is simply part of human nature to be selfish.
 Twentieth century philosopher Ayn Rand argued that selfishness is a virtue.
 This point of view is behind the social philosophy of libertarianism.
 It does not mean self-interested behavior but virtue of selfishness applies equally to all
people, our own self-interest is limited by the equal rights of others.
A Decision-Making Model for Business Ethics Revisited
1. Determine the Facts: Gather all of the relevant facts. Do not ignore the facts in support of a
particular outcome.
2. Identify the Ethical Issues Involved: What is ethical dimension? What is ethical issue?
3. Identify Stakeholders: Who will be affected by this decision? What are their relationships, to
me, and what is their power over my decisions or results? Who has a stake in the outcomes? Do
not limit your inquiry only to those stakeholders to whom you believe you owe a duty;
sometimes a duty arises as a result of the impact.
4. Consider the Available Alternatives: Exercise “moral imagination”. Are there creative ways
to resolve conflicts? Explore both obvious and less obvious choices.
5. Consider how a decision affects stakeholders: Take the point of view of other people
involved. How is each stakeholder is affected by my decision? Compare & weigh the
alternatives: ethical theories can help:
 Consequences: Beneficial and harmful consequences.
 Duties, Rights & Principles: What does the law say? Are there professional duties
involved? Which principles are most obligatory? Are people treated fairly, with respect
for their autonomy and equality?
 Implications for Personal Integrity & Character: What type of person am I becoming
through this decision? What are my own principles and purposes? Can I live with public
disclosure of this decision?
6. Guidance: Can you discuss the case with relevant others; can you gather additional opinions
or perspectives? Are there any guidelines, codes, or other external sources that might shed
light on the dilemma?
7. Assessment: Mechanism for the assessment of decision & possible modifications? Are they
necessary?