Business Ethics Essay Example | Topics and Well Written Essays - 500 words - 31

Business Ethics - Essay Example Virtue theory encompasses the individual behavior of an individual in the wider realm of character to benefit self and others. It is similar to utilitarianism that supports the happiness of person irrespective of societal conventions unless it affects their acceptable moral concepts. However, in terms of addressing values, deontological ethics differs from other theories because it is concerned with one’s obligation or duty to do good (Trevino & Nelson, 2011). In other words, while virtue theory espouses a consequence as a result of contravening tolerable values, it imposes penalties on the person. This is different from deontological ethics or utilitarianism that largely focuses on the maximization of utility. According to Mill who started utilitarianism, reducing suffering through happiness is the role and responsibility of a person unlike the deontological perspective of attaining a good feeling as a duty. Similarly, in explaining moral concepts and values, all the theories concur especially in organizations on the need for workers to practice proper ethical conduct irrespective of the immediate gain. It, thus, becomes part of an organizational culture where morality emanates from each individual. Another interesting aspect of the theories involves the possible ramifications in cases of slow implementation especially in organizational contexts. In my personal experience, for example, I think virtue theory explains ethics better than utilitarianism does to morality. This is because while the former revolves around character traits and habits of an individual, utilitarianism is an innate feeling that lacks respect for either good or bad. Contrastingly, while moral concepts in society are defined by people and culture, deontological ethics fails to demonstrate how free will contributes to a universal conduct found in most companies. It also fails to acknowledge the basic tenets of managing ethical challenges especially when they