1. The Act Utilitarian may allow rules to be used; but conceives of a rule like “Tell the Truth” as follows “Telling the truth is generally for the greatest general good” But the Rule Utilitarian conceive of this as : “Our always telling the truth is for the greatest general good” Or “It is for the greatest good if one always tell the truth”

2. Rules must be selected, maintained, revised, and replaced on the basis of their utility and not on any other basis.

3. The act Utilitarian on the other hand determine their action by asking the question which action has the greatest utility. To determine our rule we must ask the question which rule has the greatest utility. Which rule will promote the greatest general good for every one?

4. The core of Aristotle’s account of moral virtue is his doctrine of the mean. According to this doctrine, moral virtues are desire regulating character traits, which are at a mean between more extreme character traits (or vices). For example in response to the natural emotion of fear, we should develop the virtuous character trait of courage.

5. If we develop an excessive character trait by curbing fear too much, then we are said to be rash, which is a vice. If, on the other extreme, we develop a deficient character trait by curbing fear too little, then we are said to be cowardly, which is also a vice.

6. The virtue of courage, then, lies at the mean between the excessive extreme of rashness, and the deficient extreme of cowardice. Aristotle is quick to point out that the virtuous mean is not a strict mathematical mean between two extremes.

7. For example, if eating 100 apples is too many, and eating zero apples is too little, this does not imply that we should eat 50 apples, which is the mathematical mean. Instead, the mean is rationally determined, based on the relative merits of the situation.

8. That is, it is “as a prudent man would determine it
That is, it is “as a prudent man would determine it.” He concludes that it is difficult to live the virtuous life primarily because it is often difficult to find the mean between the extremes

9. In Nicomachean Ethics, Aristotle went on to work out the means, excess, and deficiencies for various virtues. The following table summarizes Aristotle’s discussion of some of these virtues:
Type of feeling or action
Vice (Excess)
Virtue (Mean)
Vice (Deficit)
Fear
Too much fear ( i.e. cowardice)
Right amount of fear ( i.e.courage)
Too little fear (i.e.foolhardiness)
Confidence
Too much confidence ( .e.recklessness)
Right amount of confidence ( I.e. courage)
Too little confidence ( I.e. cowardice)
Pleasure
Licentiousness/ selfindulgence
Generosity
Stinginess

10. Large scale giving
Vulgarity
Magnificence
Being cheap
Claiming honours
Vanity
Humility
Pride
Anger
Irascibility/short temperedness
Good temper
Too little anger (‘iniracibility”/apathy)
Retribution for wrongdoing
Injustice
Justice
Social Intercourse
Obsequiousness
Friendliness
Surliness
Giving amusement
Buffoonery
Wittiness
Boorishness

11. Aristotelian approach to business is that a good corporation is one that is nt only profitable but that provides a morally rewarding environment I which good people can develop not only their skills but, also their virtues

12. Is there a conflict between living well and Being in Business
Is there a conflict between living well and Being in Business? There is no inherent conflict between the two. Aristotle says these two concepts are embeded in community and the ultimate aim is to live a good life. The main issues here is what is that living well amounts to?

13. Is it just a means to make money
Is it just a means to make money? Or is it to provide meaningful substance to our lives, of our sense of self worth.