What is Virtue Theory

In recent years, the teaching of ethics in business schools has become more common. However, despite positive interest and the quantity of literature, there remain serious shortcomings and incidents of unethical behavior by corporations. Unfortunately, rules, principles, values and virtues are usually presented in a fragmented fashion, often confusing ethical theories. Rarely is the role of character and virtue in moral reasoning considered and little has been written to illustrate moral judgment as integral to practical reasoning in ethical decision making. This chapter defines the strengths and weaknesses of duty and organizational values and illustrates the interconnectedness of rules, values and virtues. Unless the crucial element that character plays in organizational ethics is considered, it becomes a simple philosophical comparison of ethical theories. An integrated component of duty, values and virtue provides a clearer definition of virtues and their relationship to personal development, the professional role and the public good.