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REFERENCE MATERIALS
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Ministry of Human Resource Development
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Aristotle and Business
M. S. Thirumalai, Ph.D.
Courtesy:
https://www.britannica.com/biography/Aristotle
Aristotle recognized the importance of the influences of our parents, society, and nature on us. But he emphasized that the individuals are finally responsible for their own actions. When it comes to business, he looked at ethics as the crucial element of business activities, just as ethics is important in all other activities. His philosophy emphasizes not only gaining wealth using ethical means but also magnanimously giving away the earned wealth for the benefit of others. The passive act and active intellect of individuals should be coordinated to become ideal persons. Even as we seek honour, we also need to give away the honour we receive for the benefit of others.
Reading the philosophy of Aristotle from the point of view of establishing and running businesses will bring useful insights to us all involved in business administration. Making profit was not criticized, creating wealth is deprecated, but common good of all the humans is emphasized.
M. S. Thirumalai, Ph.D.
msthirumalai2@gmail.com
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