Introduction
Wikipedia defines an ethical tradition as “a group of things that one group of people think are right and wrong. People believe that these things are right and wrong because other people think that way and they have thought that way for a long time” (2015). Working in a business of any sort there are three approached to determining ethical behavior, and all three approaches are added into the decision. After reading the article “Business Best: Bill Daniels’s Principle-Based Ethics” in our text well-known businessman Bill Daniels’ was regarded as an ethical figure in the business world. In this essay I will discuss the ethical tradition that described Bill’s decision to use his own money to pay clients after filling for bankruptcy.…show more content… Daniels was a businessman that operated media services and investment banking services among other things. In the 1950s an insurance company that he represented filled for bankruptcy. Because of his strong ethical behavior he stepped in to help the clients of the company. Daniels did not use one of the three approaches in finding a solution to aid his clients, but instead he used all three. Daniel’s applied rules-based, virtue relationship- based and outcome-based approach to finding a solution. In regards to the rules-based approach Daniels to what was right and wrong led to him helping his clients…show more content… Bill Daniel’s stated, “I did not have to do this, but I had a strong conviction that I owed this to my insured who had placed his faith in my handling of his insurance business” (The Life & Legacy of Bill Daniels, 2012). Daniels used the virtue relationship-based approach because of his reputation of being a virtuous person. Our text states that, “a virtue ethical approach draws intuitively on an agent’s experience and character” (Gonzalez-Pardon, 2015). Since virtue ethics has to do with a person’s life as a whole. The importance of being a role model is a must. According to Aristotle, “a person of good character develops virtues such as fairness; trustworthiness, honesty, and humility that help identify the right thing to do in any situation” (de Colle & Werhane, 2008). Finally, the outcome-based approach is the consequences of the choices. Daniels did not concern himself with what would happen to him or if he could afford to help, but his goal was to help those policyholders that were affected in the bankruptcy.
Moral Reasoning
“Moral reasoning is the process in which individuals define whether an action is morally right” (Gonzalez-Padron, 2015). To come to a conclusion a person should understand the intent of what an action is set to accomplish. They should know what the alternatives if any and the consequences of the actions. Moral reasoning takes into considerations all factors needed to make a decision. Below are
