The Added Value of Virtue

Abstract

We have recently seen a growing concern for business ethics and the central role key individuals play in the formative years of a business. Research has shwon that the embedding of personal values are one of the more critical and lasting contributions that a founder can make in an organisation. Research also indicates that in the modern business context, there are few accepted guidelines for moral evaluations in practical business settings. The purpose of this theoretical paper is to explore some of the moral and social elements inherent in entrepreneurship, using the basic tenets expoused by Aristotle. By revisiting the theory of virtue, we find a powerful framework for establishing organisational purpose, habitual excellence, the optimal balance for sustaining these ventures, and the people on whom they depend. For creative business practices, such as entrepreneurship and marketing, a virtue perspective offers a particularly appropriate lens.

Citation

Crockett, C. and Anderson, A.R. (2004), "The Added Value of Virtue", Journal of Research in Marketing and Entrepreneurship, Vol. 6 No. 1, pp. 5-17. https://doi.org/10.1108/14715200480001351