Most of the Greek moralists think that, if we are rational, we aim at living well or happiness. Living well or happiness is our ultimate end in that a conception of happiness serves to organize our various subordinate ends, by indicating the relative importance of our ends and by indicating how they should fit together into some rational overall scheme. Aristotle says that happiness is “perfect” or “complete” and something distinctively human. When we are living well, our life is worthy of imitation and admiration. For, according to the Greek moralists, that we are happy says something about us and about what we have achieved, not simply about the fortunate circumstances in which we find ourselves. So they argue that happiness cannot consist simply in “external goods” or “goods of fortune,” for these goods are external to our own choosing and deciding. Whatever happiness is, it must take account of the fact that a happy life is one lived by rational agents who act and who are not simply victims of their circumstances.
Aristotle thinks that we can take a person's pleasures and pains to be a sign of his state of character. To explain what the virtuous person's pleasures are like, Aristotle returns to the idea that virtue is an excellent state of the person. Virtue is the state that makes a human being good and makes him perform his function well. Aristotle says in Nicomachean Ethics I.7, is rational activity, so when we perform rational activity well, we are good (virtuous) human beings and live well (we are happy).
The Greek moralists conclude that a happy life must give a prominent place to the exercise of virtue, for virtuous traits of character are stable and enduring and are not products of fortune, but of learning or cultivation. Moreover, virtuous traits of character are excellences of the human being in that they are the best exercise of reason, which is the activity characteristic of human beings. In this way, the Greek philosophers claim, virtuous activity completes or perfects human life.
A business does not operate in a vacuum and in business there are employees and stakeholders:-customers, investors, suppliers and the general public. All these relate to each other in one way or another. Morals in business determine the success or failure of the business. It’s the way a business conducts its activities that determine its long term existence in the market.
All the activities in a business are originated by mankind. Human beings have feelings, and everyone is after a good life. Aristotle says, not that happiness is virtue, but that it is virtuous activity. Living well consists in doing something, not just being in a certain state or condition. It consists in those lifelong activities that actualize the virtues of the rational part of the soul. http://plato.stanford.edu/entries/aristotle-ethics
Therefore in business organization morals must be upheld for the success of a business. The happiness of every stakeholder is to relate the business progress or success with the happiness of the larger group as stated in utilitarianism theory.
Good business ethics promotes better business relations which lead to cooperation, societal integration and ultimately, wealth creation. Good business ethics makes up the moral foundation and economic stability. Any business without this foundation will most certainly crumble in time. For as long as bad business ethics are allowed to continue, the dream or objective of building a good and stable business will never be realized. Only the promotion of good business ethics can lead to the proper development and stability of any upcoming business.
On the other hand, bad ethics can hurt people a great deal. They hurt the community, they hurt the employees and other stakeholders. They have a grave impact on everyone. When...