“A very old concept of ethics exists since the time of Aristotle (384 BC)”. Discuss.

Virtue Theory of ethics is a very old concept existing since the time of Aristotle (384 BC). According to Aristotle, "role of ethics is to enable us to lead a successful and good life". The other normative theories attempts to answer the question of 'the right action' (or ethical behavior), virtue theory is more concerned with answering the question of how to live a good life or how to be a good person. Virtue theory aims to offer an account of the characteristics one must have to be considered virtuous. Aristotle considers pride and shame to be virtues on the grounds that we should be proud of our accomplishments and ashamed of our failings. The virtues of successful living apply to business as well. But everyday life virtues cannot be applied to business unconditionally.