Ethical Theories Essay

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Ethical theories are a way of finding solutions to ethical dilemmas using moral reasoning or moral character. The overall classification of ethical theories involves finding a resolution to ethical problems that are not necessarily answered by laws or principles already in place but that achieve justice and allow for individual rights. There are many different ethical theories and each takes a different approach as to the process in which they find a resolution. Ethical actions are those that increase prosperity, but ethics in business is not only focused on actions, it can also involve consequences of actions and a person’s own moral character. Utilitarianism can be described as an ethical theory that states if the consequences of an action …show more content…

This theory involves evaluating the individual making the decision rather than the actions or consequences themselves. Aristotle defined “virtue as a character trait that manifests itself in habitual actions.” (Boatright, 2012) This means that you are not considered virtuous because you did the right thing one time, you must be consistent. Virtue character traits include: compassion, courage, courtesy, etc. these traits not only allow for ethical decision making but they also provide happiness to the individual possessing the traits. When a person has virtue as a part of their character their actions will be moral and ethical without having to choose between what they want to do and what they should do – the decision would be the same. Their actions and feelings would coincide with the moral rationale of the virtue theory. Advantages of the virtue theory are instilling good moral character traits into individuals allowing for more ethical decision making based on personal character. Also, the virtue theory promotes happiness through good moral character which encourages people to make ethical business decisions but also ethical personal decisions – leading to a more fulfilling life. A disadvantage is virtue ethics is trying to determine a list of virtues that people should possess, each trait needs to be carefully …show more content…

This idea allows for justice to be measured by an equation, each person’s share of something must be justified by some relevant difference, making the equation equal. Each person should receive exactly what is proportional to what they put in. If you work an hour longer than someone then you should receive pay for one more hour. This is equal because you are being compensated exactly for the work you put in and the other person is not shorted in any way because they did not work that extra hour therefore should not receive the extra pay. This theory allows for impartiality when making a decision, it is not based on justice because of your moral character or consequence of your action it is based on equal justice for all based

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