BUS 223 - Exploring Virtue Ethics for Ethical Business Decisions

This essay argues that virtue ethics is the most suitable framework for ethical decision-making in business, as explored in BUS 223 Ethics in Commerce. It begins by introducing three ethical frameworks: virtue ethics, principles and rights-based approach, and utilitarianism, ultimately advocating for virtue ethics. The essay rejects utilitarianism due to its impracticality in modern business and the rights-based approach for its limited focus on individual rights in profit-oriented organizations. The core argument emphasizes the importance of character and moral virtues in business leadership, fostering long-term stakeholder relationships, financial competence, and productivity. The essay also addresses objections from proponents of utilitarianism and the rights-based approach, reinforcing the value of virtue ethics in building trustworthy and cooperative business environments. Desklib provides access to this and other solved assignments.

Running head: BUSINESS ETHICS
Business Ethics
Name of the Student
Name of the University
Author Note

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The ethical frameworks are very much crucial factors for making the business decisions.
There are some ethical frameworks that can be used in the business practices. These ethical
frameworks are the virtue ethics, principles and rights based approach and the utilitarianism
(Russell, 2013). These three ethical theories have been regarded as most important frameworks
so the business leaders can be able to take the best decisions. In this essay, the best suitable
ethical framework will have to be chosen and the justifications will have to be given for that. In
the essay, the argument will be done in favor 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. Both of these ethical frameworks have been
rejected on certain grounds (Russell, 2013). The utilitarianism focused on the several facts that
would be highly important regarding on the outcomes of the business decisions by the leaders. In
the modern business the business leaders do not have the time to think whether the outcomes will
be right or wrong. This it will be somewhat risky to implement the utilitarianism. 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. In the modern business context, this factor
might not be much helpful since the business leaders only focus towards thinking about right and
wrong mostly. This is why this rights based ethical framework has been rejected (Audi, 2012).
In this section the proper arguments will have to be given on how the virtue ethics can be
implemented in the business conditions for the proper development. The virtue ethics has been a
relatively modern concept that needs to be aligned with the concept of the business development
in certain organizations (DesJardins & McCall, 2014). This ethical framework is somewhat

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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 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 (Weiss, 2014). 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 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 organizations will be able to gain maximum
productivity and higher growth regarding this.
The objection can be raised in this context in support of the utilitarianism. According to
some experts, it can be mentioned that the right and wrong is judged in terms of the business
decisions by the leaders. On the contrary it can also be said that the business decisions cannot
always be made by judging of the right and wrong. The moralities of the business leaders are
measured by applying this framework. 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

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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.
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.