Business Ethics. Lecture One :: Doing Ethics Virtue Theory - The Agent. 4BSc IT :: CT436 Sorcha Uí Chonnachtaigh

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1 Business Ethics Lecture One :: Doing Ethics Virtue Theory - The Agent 4BSc IT :: CT436 Sorcha Uí Chonnachtaigh

2 Class Ground Rules Ethics requires active and reflective learning, ie. we learn by doing, hence the name of the course Doing Ethics Must decide on a small number of rules that all of us follow for the duration of the course Mine: 1. I will start and end class punctually (bar emergencies) 2. I will endeavour to give ample discussion time Yours: Discuss - 5 mins. 1. All students sit at the front of the room/lecture hall Issues: rules about class discussion, listening, rotating spokesperson for groups, room lay-out, equal contributions

3 Introduction: Overview 1. Theory: 1. Who/what is the agent in ethics? 2. Virtue theory 1. Aristotle 2. New Virtue Theory 2. Practical: 1. Group work 2. Individually complete PA form NB: Fill in Student ID number and name 3. Discussion/report back from groups (if time allows)

4 THE AGENT The agent is the person who performs an action. When we refer to an agent in ethics, we mean an individual who is intellectually competent to make moral (and other) evaluations and decisions about their actions

5 Virtue Theory Look after the penny and the pounds will look after themselves Ethics: often talk about moral rules but some philosophers think it is more important to look at moral character - focus on individual moral virtue and rules are immaterial Focus on what people should be rather than what people should do (moral rules/principles) Virtue ethics is a very old concept (existing since the time of Aristotle, 384BC)

6 The Good Life Notion of good life = central to virtue ethics Aristotle: eudaemonia = living to full potential, flourishing (happiness) Achieving eudaemonia requires exercise of the arête (excellences/virtues) The virtues are not innate qualities, must be learnt through praxis (practice) Practice leads to phronesis (practical wisdom - an intellectual virtue) and develops moral character

wisdom) Moral virtues: friendship, fairness, honesty, courage, temperance Moral virtues = mean between two vices (courage =

7 Aristotle, 384BC Nichomachean Ethics: natural desire for achieving happiness / fulfillment Aristotle had two categories of virtues: moral and intellectual 9 intellectual virtues - most important: sophia (theoretical wisdom) and phronesis (practical wisdom) Moral virtues: friendship, fairness, honesty, courage, temperance Moral virtues = mean between two vices (courage = mean between cowardice and foolhardiness) Coward: too much fear Brave: acknowledge fear and fight it appropriately Fool: not enough fear

8 Virtue Theory Look after the penny and the pounds will look after themselves New Virtue Theory: Many theorists think the modern obsession with moral obligations and rules is meaningless Some suggest that ethics should be solely devoted to developing virtuous agents, if we concentrate on individuals (pennies) we won t need to explore ethical actions (pounds) as the actions of a virtuous agent are virtuous regardless of the outcome Further reading: GEM Anscombe, A MacIntyre if interested. Our focus is a virtue ethics approach generally

9 Virtues All the virtues are required for eudaemonia - exercising some but not all does not constitute flourishing To be virtuous, one must act according to all the virtues Honest but not virtuous!

Learning to be virtuous We learn the virtues through example from virtuous role models Family, friends, community, church We are born with a mixture of good and bad tendencies Natural/Proto-virtues:

10 Learning to be virtuous We learn the virtues through example from virtuous role models Family, friends, community, church We are born with a mixture of good and bad tendencies Natural/Proto-virtues: honesty, kindness, compassion in young children is common but these will be lost with experience if not reinforced and developed Exercising virtues, reinforces good and discourages negative ingrained Practicing the virtues allows the agent to develop moral character and reflect on and choose virtuous action for its own sake (the reward is personal fulfillment)

11 The role of emotion The atomistic approach to action - no rules, each action chosen according to virtues in given context This approach allows for the involvement of emotion (to moderate degree) Virtue ethics requires agent to act for the right reason (rational choice about virtuous course of action) and right desire (emotion/feeling) in balance Recognises the complexity of moral dilemmas - rule theories do not allow for this

Continence Continence = strength of will: important in virtue ethics Difficult to act virtuously all the time without occasional reluctance - negative desires If neg.

12 Continence Continence = strength of will: important in virtue ethics Difficult to act virtuously all the time without occasional reluctance - negative desires If neg. desires are result of flaw in character = bad If neg. desires are result of circumstances = admirable to fight the desire and perform the right action regardless In Trading Places (1983), Eddie Murphy s character returns a large sum of money to the Duke brothers even though he may have struggled with the desire to keep it due to his impoverished circumstances

13 Virtuous action formula An action is right if, and only if, it is what a virtuous agent would do in the same set of circumstances A virtuous agent is one who exercises the virtues A virtue is a character trait that persons need to flourish

14 Virtuous person formula Almost impossible to be fully virtuous at all times in reality Fully virtuous if: Trained in the virtues: examining and reflecting on the virtues following example of virtuous role model practice acting according to the virtues Eventually reaching point where one always has the right reason and right desire for choosing a particular course of action in every circumstance

15 Virtue Theory applied to Business Flourishing for a business often measured in terms of economic success General Electric #4 in Fortune 500 From Virtue Th. perspective, flourishing is a more holistic concept How was financial success achieved? [GE generates profit thro arms manufacturing] Who is affected by this success? [rewards shared fairly amongst contributors to success?]

16 Flourishing in Business Virtue theory also emphasises non-economic flourishing Job satisfaction of employees Development of talents and abilities of staff Good relations with all members of company Harmonious relations with all stakeholders equally Effects of company on wider community

17 Virtuous Manager Need to develop knowledge and judgment on ethical matters over time through experience and participation Training: Incorporating professional codes of practice Following examples of virtuous role models Continual re-skilling and (professional) training Learning from relationships with colleagues and broader business and social community

18 Problems with Virtue Theory Self-regarding: focus on self could be seen as selfcentred and immoral for its lack of acknowledgement of others Flourishing/well-being is self-interest not a value to be aimed at in human action Contingency: depending on circumstances to such a degree is inconcrete (strength/weakness) Moral luck: external influences could negatively effect an agent s moral development - lucky agents have good role models, why should their resulting vitruous character be praiseworthy?

19 Advantage of Virtue Th. for Business Theoretical problems exist In practice, could Virtue Theory be valuable as a general approach for business? Advs: Flexible approach to problems (virtuous action depends on circumstances) Holistic view of success - gd for rest of us as well Valuing of employees - development of potential Fairer distribution of financial rewards Etc. etc.

20 Glossary of Key Terms Agent: person who performs an action Eudaemonia: Flourishing/well-being Praxis: practice Phronesis: practical wisdom Arête: excellence/virtue Continence: Strength of will

Practical Wisdom HOWARD C. NUSBAUM, DIRECTOR CENTER FOR PRACTICAL WISDOM THE UNIVERSITY OF CHICAGO. Supported by The John Templeton Foundation

wisdomcenter.uchicago.edu Practical Wisdom HOWARD C. NUSBAUM, DIRECTOR CENTER FOR PRACTICAL WISDOM THE UNIVERSITY OF CHICAGO Supported by The John Templeton Foundation WISDOM, COMPASSION, AND LONGEVITY