- Virtue ethics/ Business ethics
- But today every business seems to have a 'mission statement' - a summary of their telos or purpose. Companies do not state their purpose in terms of profits but in contributing to the community both local&worldwide. VE says eudaimonia for the community is even more important than the individual.
- Aristotle talked about 2 types of business: 1) OIKONOMIKOS (household trading) e.g where a famer has crops trades them for clothes. Aristotle thought this sort of trading was a vital part of a eudaimon society. 2) CHREMATISIKE (trade for profit) Aristotle saw this as 'wholly devoid of virtue. He attacks the profit driven approach to business
- Aristotle says that the business where people work is the polis where some of our friendships are made, where some of our values are formed and where we seek to achieve eudaimonia. Our well being depends on the well being of the business (polis) and that depends on virtues such as honesty, fairness etc.
- VE would not agree with Friedman that a business only exists solely for profit, but to achieve true purpose of the polis and the eudaimonia of all the stakeholders.
- Become a virtuous person involves following virtuous role models- both for the employer and the employee.