Business Ethics: Conceptual Essay, Ryerson University BUS223 Course

This essay discusses the application of ethical frameworks in business, focusing on virtue ethics as the most effective approach for modern business leaders. It contrasts virtue ethics with utilitarianism and the rights-based approach, highlighting the advantages of virtue ethics in building long-term relationships with stakeholders, fostering ethical decision-making, and promoting organizational growth. The essay addresses potential objections to virtue ethics, concluding that its emphasis on character and moral values makes it a superior framework for achieving sustainable success and a positive reputation in the business world. Desklib offers a wide array of solved assignments and study resources for students.

Running head: BUSINESS ETHICS
Conceptual Essay
Name of the Student:
Mohammadali Amiran
ID:500760929
Ryerson University

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The virtual ethics has been an important and significant tool that finds a wide use in the
field of business and is known to assist the business leaders in taking proper decisions. In the
essay, the argument will be done in favour of the virtue ethics since this framework has proven
to be effective for business leaders in modern times.
The other ethical frameworks that are relevant in the business context are the principles
and rights-based approach and utilitarianism. However, Russell (2013) state that both the
aforementioned frameworks have faced rejected. The good consequences of an activity refer to
the positive outcomes that might result form the concerned activity. The good consequences of
the activity are measured in terms of the positivity in the nature of the outcomes that are faced by
the concerned leaders of the organisation. The utilitarianism principles of ethics deal with the
fact that the end of an activity is known to have been justifying the means of the activity. This
suggests that the proper result of the given activity would lead to the activity to be considered
correct irrespective of the processes of their achievement.
On the other hand the principles or right based approach is also one of the main ethical
frameworks for the business ethics (Pearson, 2017). According to this ethical framework, the
rights of the individuals have been discussed in this framework. The rights and the duties of the
individual are considered to be complementary. The right of an individual refers to the normative
fundamental rules that are owed to the people. The duties of an individual are also dependent on
the rights that are owed to them. The concerned person is held accountable for the duty and is
known to be considered as a dignified person on the basis of the duties that are performed by the
person. This is why these rights based ethical framework has been rejected (Audi, 2012).

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The virtue ethics, initially proposed by Aristotle, circa 350 BCE, needs to be aligned with
the concept of the business development in certain organizations (DesJardins & McCall, 2014).
This ethical framework is somewhat based on the ethics of Aristotle. As per this ethical
framework, the decisions must be taken by the business leaders on the basis by judging the
character of the concerned persons. The moral virtues of the concerned persons should be
thought over and over again as well (Audi, 2012). The virtue of the human beings refers to the
behavioural tendencies of the person that reflects the higher standards that are maintained by the
person. The vice on the other hand refer to the negative behavioural tendencies that are observed
within the person. The virtues within the person helps in the overall identification of the vices
within the person and thus helps in the determination of the character of the concerned human
being (Weiss, 2014). The virtue theory helps the concerned person to undertake proper and
ethical decisions for the operations within the organisation.
The business leaders must always think over the idea of how their organizations might be
viewed by the people on the basis of their decisions. The moral values and ethical choices of the
business owners have been very much significant for the overall development of the
organization. The honesty and trustworthiness of the business leaders is of extreme significance.
The honesty of the leaders and the mutual cooperation between the employees will be fruitful for
the employees. As per this ethical framework, the critical thinking skills and the communication
between the employees have been rendered as a very crucial factor. This ethical framework will
benefit the business leaders in several ways. If the business leaders can implement this
framework in their business context, they would be able to build up a long-term relationship with
the stakeholders of the organization. The implementation of a proper relationship within the
stakeholders would help in the development of the competitive advantage of the concerned

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organisation as well. The organization will be able to competent from the financial aspects. A
good rapport can be built up with the business communities, employees and the customers
(Crane & Matten, 2016). The virtue ethics would help in the development of the ethical decisions
within the company thereby leading to the popularity of the concerned organisation. The
organizations will be able to gain maximum productivity and higher growth regarding this. The
increase in the popularity of the company would lead to the increase in the client base of the
company and thus lead to the development of the revenue that is generated by the concerned
organisation.
A utilitarian might object to this view, arguing that the right and wrong is judged in terms
of the business decisions by the leaders. On the contrary, the main objection to the
implementation of the virtue ethics lie in the implementation of the theoretical perspectives
within the organisation. It must be mentioned that the moralities do not always work within the
business context (Weiss, 2014). The objection can be raised in terms of using the right-based
approach as well. The right-based approach depends on providing the individuals with all sorts
of moral rights. In the modern context, one has to admit that all the rights cannot be achieved
since the organizations will work in the profit-oriented manner.
On a concluding note it can be said that the virtue of ethics framework has been chosen
as the most suitable framework in the business organizations. The reasons for this is the fact that
the organizations can build up long-term profitable relationship with their stakeholders and their
customers.

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References
Audi, R. (2012). Virtue ethics as a resource in business. Business Ethics Quarterly, 22(2), 273-
291.
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
DesJardins, J. R., & McCall, J. J. (2014). Contemporary issues in business ethics. Cengage
Learning.

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Pearson, R. (2017). Business ethics as communication ethics: Public relations practice and the
idea of dialogue. In Public relations theory (pp. 111-131). Routledge.
Russell, D. C. (Ed.). (2013). The Cambridge companion to virtue ethics. Cambridge University
Press.
Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. Berrett-
Koehler Publishers.