The key word for Aristotle is VIRTUE, but the phase “Business Virtue is to be thought about. We directly do not find an article in the Fortune, Forbes or Business Week praising the virtue of the commitment to quality and excellence and these two words are close to what Aristotle means by virtue. So business virtues implies the commitment of the firms to quality and excellence.
The English word virtue is an imperfect translation of a Greek word arête. It can mean not only moral virtue but excellence in a broader sense.
Aristotle suggests that these is an arête or excellence for every kind of activity – that one can seek for excellence in personal relations as well as in the business relations and both are examples of virtue.
When the business leaders talk about the need for total quality management, when a manufacturing firm claims that “quality is job one”, or when a company says its trademark is the “mark of excellence”, these all are references to the concept Aristotle explains in arête.
In practical terms, according to Macintyre, “there seems to be no rational way morality is nothing but the expression of personal preferences.
Other types of virtue can only be obtained through habitual behaviour and are called ‘moral virtues’ and emphasizes on their development by engaging in moral activities.
Aristotle says, “men become builders by building buildings and cricket – players by playing cricket; so we too become just by doing just acts, brave by doing brave acts.”
As one develops moral habits over a lifetime, it matters a lot how one behaves as they learn what kind of person.
Morals like manners are part of the training young people, received in a society, in order to help them function well and be successful at the business of being a human being.