A resurgence in recognition of the critical importance of moral exemplars is supplied by cognitive science in its invocation of "exemplar theory". There are many pros and cons linked to this approach. The challenge that any organization faces, therefore, is to educate managers as to the desirability of virtue-based behavior.
MacIntyre defines a practice as Maximizing firm profits would simply no longer be her ultimate objective.
There is no fear that any competitive advantage can be lost to competition. Unlike rationality in the finance paradigm, practical rationality concerns moderation and balance.
Well this paper will discuss virtue ethics and the philosophy behind it. In the case of practical rationality, however, the agent's self interest is defined in terms of the pursuit of excellence within the practice. Under each of these types of theories are specified topics and ideas. For example, our financial accountant, if she were virtuous, would not have to weigh the goal of maximizing firm profits against the constraints of an ethics code.
Thirdly, virtue-ethics theory makes clear that in the moral life one cannot rely merely on rules or guidelines, in addition an ability to exercise sound moral judgement is requisite.