Modern Business and the Doctrine of the Mean

Within both Western and Eastern traditions of virtue ethics, there is a Doctrine of the Mean, suggesting that errors may lie either in excess or in deficiency. The need to avoid both excess and deficiency in the allocation of finite resources is a concern in many sorts of business decisions, some with ethical implications. One finite resource is the resource of attention, and ethical problems can arise from failures to attend to important things. Both Aristotle and classical Confucianism accept the importance of paying attention to circumstances rather than following fixed rules or blindly maximising value. For organisations to give appropriate attention to different things requires suitable intra-organisational reporting and communication. Then there is still need for awareness that resources are finite, and for activity that is sustainable, highlighting the related idea of harmony, especially salient in the Confucian tradition.