Business Ethics and Virtue Ethics - Coursework Example

Running Head: Business Ethics and Virtue Ethics Business Ethics and Virtue Ethics [Institute’s Business Ethics and Virtue Ethics According to the instructions, the three selected virtues are courage, honesty, and justice. Virtue of Courage Courage is among those virtues essential to leading a good life. Generally, the first thing that strikes from the word ‘courage’ is bravery when in some danger; however, it is a lot more than this. It is the capability to pick the point that is between fearfulness and irresponsibility during any situation. In Aristotle for Everybody, Adler infers Aristotles description of courage as a routine temperament to take “whatever pains may be involved in doing what we ought to do for the sake of a good life. If a person is not courageous, for instance, he will not overcome the difficulties inherent in the practice of any virtue” (Pury & Lopez, 2010). In simple words, it implies doing what one knows he has to do no matter how demanding or complicated it might seem. Courage takes a number of forms. Examples incorporate the courage to stand for what is true, the courage deal with a personal apprehension, the courage to admit disrespect, the courage to tolerate physical or emotional hurt for self-development, the courage to move ahead through disappointment, and many more. Virtue of Honesty The virtue of honesty is defined as the negation to false reality, that is, “to pretend that facts are other than they are” (Roberts & Woods, 2010). According to Peikoff, honesty consists of taking the procedure of cognition sincerely, creating an active psyche, and looking for knowledge because one wants it to proceed appropriately rather than making an impression on others. Honesty is linked with the value it tries to achieve because such value should symbolize truth, it cannot be faked. From this perspective, virtues are depicted with respect to what is better for individuals: Virtues are not their own incentive or a type of self-anguish, but a “selfish necessity in the process of achieving values” (Roberts & Woods, 2010). A virtue such as honesty is not only an inclination to do what is truthful, nor is it to be supportively identified as an advantageous or ethically important character’s attribute. It is certainly a character attribute - that is, a disposition that is deep-rooted within its owner. An honest individuals motives as well as preferences, with respect to honest and dishonest behavior, reveal his views regarding honesty and genuineness - but naturally such views manifest themselves with regard to other behaviors and to emotional responses also. Virtue of Justice While speaking of justice as a virtue, one is usually indicating towards a quality of individuals, even if considering the justice of individuals as having some indication towards social justice. Plato treats justice as an “overarching virtue” (Sandel, 2010) of people as well as of societies, signifying that more or less all issues he would consider as ethical appeared under the perception of justice. However, in contemporary practices, justice includes just a part of individual integrity, and one does not readily imagine people as unjust if they lie. Plato knows individual justice on equivalence with “justice writ large in the state” (Sandel, 2010), however, he considers the state, or democracy, as a form of organism or beehive, and the justice of people is not thought of as mainly involving orthodoxy to just organizations as well as regulations. Instead, the just person is someone whose psyche is directed by a revelation of the Good, someone in whom rationale rules enthusiasm and aspiration through this sort of a vision. Such a formation of individual justice is virtue ethical since it connects justice (or behaving in a just manner) to an inner condition of the person instead of the loyalty to social standards or to good outcomes. Plato and Aristotle both were rationalists because they consider human understanding and ethical causes; in addition, what they state regarding the virtue of justice, clearly indicates the dedication towards rationalism. Much consequent philosophy regarding justice, particularly during the middle ages, was controlled by Plato and Aristotle and similarly they highlighted the role of reason both in identifying what is just and in letting others to work justly instead of surrendering to opposing inclinations or requirements. Virtues of Courage, Honesty, and Justice - Application in Mattel Case According to the virtue of courage, necessary principles must be incorporated within the company’s resources, and they should stand up to inconsiderate contractors and claim essential ethical handling of labor force. Honesty applies with reference to the collaboration between the auditors and Mattel. However, honesty might as well require that the Company stay truthful regarding its personal setbacks. Its monetary state, within an aggressive setting, might allow just the “very spotty compliance that the Mattel case study seems to highlight” (Oppenheimer, 2010). Aristotle defines justice as giving the people their due along with basic equality in ruling as well as being ruled. The common contentment and approval should be the last part. Chinese personnel needed a reasonable income, in comparison to the amount of value they generate during their job on a daily basis. There should be a basic minimum income that Mattel follows. According to the distinctive communalist notion, the surplus value is between what is given in income and the value of the toy that is traded in the marketplace (ChoiceLevel Books, 2009). However, there is as well a mean - the business cannot turn out to be so righteous that it collapses against its rivalry. There ought to be a contented way. Both virtues and utilitarian ideas are applicable in this case. The majority of virtue ethics theories take their insight from Aristotle who stated that a virtuous individual is someone who has perfect character qualities. These qualities derive from expected inner tendencies, but have to be nurtured; however, once developed, they will turn out to be stable. Contrasting deontological and consequentialist theories, these theories do not intend mainly to recognize universal standards that can be functional within any ethical state; these theories focus broader questions. These theories offer a self-centered formation of ethics since individual success is considered as an end in itself and does not suitably think about the degree to which one’s actions influencing other people. Normative Ethics - Utilitarian View Considering that if Mattel goes out of business nothing will work, there should be conciliation between the business and the very high standards it wanted to implement (Choy & Lin, 2009). The reality of the existing financial slump, an extremely aggressive setting, and demands of both stockholders and clients compel the company towards a non-optimal ethical end. The utilitarian view suggests that creating employee as well customer satisfaction is required. The utilitarian view also points out the areas where employees seem contented. Within Asia, researchers have observed some basis to think that standards are lower, and as a result, employees are at an advantage with Mattel as compared to a local business that might treat them worse (Enderwick, 2008). Since it is generally the case that overseas companies reimburse better in comparison to local ones; Mattel is already raising the contentment level of both employees and customers even with a small observance with regulations (Cassey et al, 2007). Here, it can be argued that, even if Mattel is not completely complying with the set regulation, it is still handling workforce better than the average Chinese owned toy maker. Mattel Inc. is driven by fiscal and market concerns. Its business practices are no different from the majority of other manufacturers in the same field. When it comes to corporate social responsibility (CSR) as well as good corporate citizenship, the company firm utilizes it as a “thin patina to wrap around its ‘business as usual’ formula” (Welch & Welch, 2006). The primary intent of the Global Manufacturing Principles was to set in CSR and make it a fundamental component of corporate policy and functions. . Mattel has to act in accordance with the regulations because, under the principles of universal competition, it is the correct thing to do; not merely because it would like to avoid coming under fire. Employees have to be treated fairly, not only because contented human resources work more productively but also because it is the correct thing to do. A utilitarian view might suggest that contented staff being more productive is the excellent strategy in existing conditions. “Virtue ethics takes context into consideration. Global competition does justify (to an extent) the usage of local standards rather than the very high standards of the code” (Gilbert & Wisner, 2010). References Cassey, N., Zamiska, N., and Pasztor, A. (2007). Mattel seeks to placate China with apology. WSJ. ChoiceLevel Books. (2009). Mattel, Inc. Business Background Report. www.ChoiceLevel.com. Choy, Y., and Lin, Y. (2009). ‘Consumer response to crisis: Exploring the concept of involvement in Mattel product recalls.’ Public Relations Review. Vol. 35(1), pp. 18-22. Enderwick, P. (2008). ‘Quality assurance and upgrading in global supply chains: Implications for management in a transition economy.’ Thunderbird International Business Review. Vol. 50(4), pp. 217-230. Gilbert, J., and Wisner, J. (2010). ‘Mattel, Lead Paint, and Magnets: Ethics and Supply Chain Management.’ Ethics & Behavior. Vol. 20(1), pp. 33-46. Oppenheimer, J. (2010). Toy Monster: The Big, Bad World of Mattel. Wiley. Pury, C. L. S., and Lopez, S. J. (2010). The Psychology of Courage: Modern Research on an Ancient Virtue. Amer Psychological Assn. Roberts, R. C., and Wood, W. J. (2010). Intellectual Virtues: An Essay in Regulative Epistemology. Fourth Edition. Oxford University Press. Sandel, M. J. (2010). Justice: Whats the Right Thing to Do? Farrar, Straus, and Giroux. Welch, D. E. and Welch, L. S. (2006). ‘Commitment for hire? The viability of corporate culture as a MNC control mechanism.’ International Business Review. Vol. 15(1), pp. 14-28. Read More