In this paper we argue that MacIntyre’s virtues-goods-practice-institution schema (MacIntyre 1985) provides a conceptual framework within which organizational virtue in general, and virtue in business in particular, can be explored. A heuristic device involving levels of individual agency, mode of institutionalization and environment is used to discuss why some businesses protect practices, develop virtues and encourage the exercise of moral agency in their decision making, while others struggle or fail to do so. In relation to conventional shareholder-owned capitalist business, both the mode of institutionalization and the environment are shown to be largely antithetical to the development of practices. Other businesses may meet the necessary internal conditions for the sustenance of practice-like features but remain dependent upon features within their environments. To illustrate this, we use participant observation to show how one particular organization—Traidcraft plc—meets the relevant conditions.
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