In recent years the resource-based view of the firm has made significant headway in explaining differences in interfirm performance. However, this perspective has not considered the social and ethical dimensions of organizational resources. This paper seeks to provide such an integration. Using Kuhn's three stage model of adaptive behavior, the resource worthiness of stakeholder management, business ethics, and issues management are explored. The paper concludes by drawing on prospect theory to understand the reasons for this conceptual lacuna.

Is it legitimate for a business to concentrate on profits under respect for the law and ethical custom? On the one hand, there seems to be good reasons for claiming that a corporation has a duty to act for the benefit of all its stakeholders. On the other hand, this seems to dissolve the notion of a private business; but then again, a private business would appear to be exempted from ethical responsibility. This is what Kenneth Goodpaster has called the (...) stakeholder paradox: either we have ethics without business or we have business without ethics. Through a different route, I reach the same solution to this paradox as Goodpaster, namely that a corporation is the instrument of the shareholders only, but that shareholders still have an obligation to act ethically responsibly. To this, I add discussion of Friedman’s claim that this responsibility consists in increasing profits. I show that most of his arguments fail. Only pragmatic considerations allow to a certain extent that some of the ethical responsibility is left over to democratic regulation. (shrink)

Michael Porter argues that some nations manifest a competitive advantage deriving from key elements of their economic structure. Some nations are thus disposed by structure to possess what Porter calls a "competitive advantage of nations" (Porter, 1990). In this paper I examine the prospect of an ethical advantage of nations, and in particular, of a set of advantages that extend far beyond the simple dimension of trust so often discussed. I consider, further, how such a range of ethical features would (...) be structured, and what the implications of those features would be. Three conclusions are reached: 1. Morality may create economic advantages for nations in ways that extend beyond the notion of an idealized market; 2. In order for ethics to drive economic advantage, ethical concepts must rise to the status of intrinsic value; and 3. If claims for national ethical success factors are true, then nations should attend to the issue of moral education. (shrink)

This essay seeks to start a dialogue between two traditions that historically have interpreted the economy in opposing ways: the individualism of classic economic liberalism (CEL), represented by Adam Smith and Milton Friedman, and the communitarianism of Catholic social teaching (CST), interpreted primarily through the teachings of popes and secondarily the U.S. Catholic bishops. The present authors, an economist and a moral theologian who identify with one or the other of the two traditions, strive to clarify objectively their similarities and (...) differences with the opposing perspective. Section one focuses on each position''s perspective of love of self and love of others. We find both CEL and CST saying that self-love, rightly understood, constitutes a moral good and that the love of others serves as an important principle in the political economy. We find less agreement in section two regarding justice and rights, but even here, we discover a few surprises. Both traditions uphold justice (giving to each party what is due) as essential to the political economy, and recognize some similarity in that type of justice called commutative. We note, however, substantial differences regarding a second type of justice that we call "public justice." First, they differ over the extent to which government should be involved. Here the meaning of rights, especially that of individual freedom, arises. Secondly, the traditions diverge over whether benevolence as a motivator ought to serve as a partner for public justice. Thirdly, CEL in general opposes CST''s emphasis on social justice that calls upon institutions to be proactive in helping citizens and groups to become active participants in the economy. We conclude our essay by summarizing our discoveries and by suggesting areas for further dialogue. (shrink)

The concept of negative liberty as non-interference is operative in the concept of a free market and stipulates that market relations remain outside the purview of social control. As a purported self-regulating system, however, the market functions as a system of necessity that facilitates and rules social life. I argue that Isaiah Berlin’s defense of negative liberty leads to a paradox as it entails subjection to the external necessity of a self-regulating market. The argument for the self-defeating nature of negative (...) liberty relies on two philosophical insights that have their roots in G. W. F. Hegel’s theory of self-determination. First, negative liberty fails to account for the inner and outer conditions of freedom and thus reduces to mere whim or arbitrariness, subject to heteronomous forces but masquerading as license. Second, individual freedom is intersubjectively mediated in its deliberative process and framed by social and political institutions in its exercise; thus, free agency must be theorized as embedded agency. I challenge the association of freedom and the market and the automatic and unchallenged implication of deregulation and freedom. Deregulation, rather, leaves the community’s future development to the whims of economic players using a rhetoric of freedom as both lure and principle. (shrink)

In ways accentuated by the global coronavirus pandemic, corporations constitute vital instruments of the acts of beneficence needed by the people of the world to make progress in public health and increase collective and individual well-being. This article contributes to understanding the variety of moral forces that may lead corporations to commit acts of beneficence, including Friedman’s business case for corporate beneficence, the duty of beneficence as developed by business ethicists, and Dunfee’s social contract account of corporate obligation. Whereas Mejia (...) recently contributed to scholarship on corporate beneficence by expressly adopting shareholder primacy’s conception of corporate governance, this article embraces a stakeholder-oriented, managerialist picture of corporate governance. I extend the literature on beneficence by incorporating what I argue is the intuition underlying Dunfee’s contractualist formula of minimal contribution, namely that management’s duty to do good is awakened and unshackled to the extent management judges the corporation can afford to commit acts of beneficence, all stakeholders considered. The all-stakeholders-considered case for corporate beneficence compels management to act, I argue, when inaction would undermine the moral integrity of managers personally committed to promoting the well-being of humanity. (shrink)

This thesis concerns the measurement of freedom, and its value. Specifically, I am concerned with three overarching questions. First, can we measure the extent of an individual’s freedom? It had better be that we can, otherwise much ordinary and intuitive talk that we would like to vindicate – say, about free persons being freer than slaves – will turn out to be false or meaningless. Second, in what ways is freedom valuable, and how is this value measured? It matters, for (...) example, whether freedom is valuable only insofar as it enables us to pursue specific ends we happen to value for independent reasons, or whether it is also valuable in itself. In the latter case, but not the former, more freedom will always be better. Likewise, it’s important to get clarity on what ends, exactly, freedom is especially instrumentally valuable in promoting, since this goes to how much we should care about it. And finally, the liberal political tradition asserts that there is a special sphere of personal choices within which individuals should be free to do as they please, for reasons over and above the value of freedom itself. Now, can we measure the extent to which states and individuals respect individual liberties, and can we weigh the importance of respecting liberty against competing values like social welfare? To answer these questions, I follow the axiomatic tradition of social choice theory, and I develop several novel measures of freedom – including the first measure of freedom ever proposed that is sensitive to how modally robustly our options are available – a novel approach to measuring the diversity of an opportunity set, and I develop an account of the value of freedom according to which an important part of why freedom matters is that it enables us to improve our preferences through learning, and I construct ways of measuring the value of freedom along this dimension of value. Finally, in later chapters, I provide a representation result for a measure of illiberalism, i.e. of the degree to which states fail to respect the rights of their citizens, and I extend this result to provide a characterization of moral theories that express concern for respecting the rights of others. The final chapter closes by discussing how this concern may be weighed against concerns for social welfare. (shrink)

Existing scholarly work on corporate social responsibility frequently emphasizes either normative/ethical claims about social progress or instrumental/strategic claims about corporate effectiveness, yet less often acknowledges the moral conditions of those undertaking CSR within a specific cultural context. In this paper, we draw attention to the social conditions in which CSR takes place and the related ethics of the subjects that must enact it. Our approach is to document the lived experiences of practitioners in Romania, a post-communist society. Drawing from fifty-three (...) depth interviews with both corporate responsibility practitioners, and managers in non-profit organizations who together work on CSR projects, we describe their experiences of the social and organizational environment, the CSR practices that are undertaken in this context, and the intended and unintended consequences of such work. Using Bauman’s theorization of ethics, including adiaphora and moral distancing, and Borţun’s interpretation of Romanianness, we then theorize liquid CSR as an ambivalence between adiaphoric practice and the moral impulse to do good, resulting in both intended and unintended consequences. (shrink)

The article deals with the question whether an unconditional basic income is part of an ideal liberal-egalitarian welfare regime. Analyzing UBI from an ideal-theoretical perspective requires a comparison of the justice performance of ideal welfare regimes instead of comparing isolated institutional designs. This holistic perspective allows for a more systematic consideration of issues like institutional complementarity. I compare three potential ideal welfare regimes from a liberal-egalitarian perspective of justice: An ideal social democratic regime, a mixed regime containing a moderate UBI (...) and a maximal UBI regime where UBI replaces most of the welfare state. These regimes are evaluated with respect to three aspects of justice performance: the scope and neutrality of opportunities provided, institutional complementarities with a dynamic, globalized economy and the policy feedback effects on the political stability of liberal-egalitarian political coalitions. I conclude that the overall performance of a mixed regime is superior to the other regimes. (shrink)

This paper examines the ethics of the Australian business community’s responses to the phenomenon of modern slavery. Engaging a critical discourse approach, we draw upon a data set of submissions by businesses and business representatives to the Australian government’s Joint Standing Committee on Foreign Affairs, Defence and Trade ‘Parliamentary Inquiry into Establishing a Modern Slavery Act in Australia’—which preceded the signing into law of Australia’s Modern Slavery Act 2018—to examine the business community’s discursive construction in their submissions of the ethical–political (...) concept of freedom. The paper shows how the concept of freedom was employed by Australian business in a manner that privileged their own subject status and advocated for legislation with minimal burden. Relating this contemporary case to a longer historical context, we show how Australian business responses towards modern slavery map onto liberal and neoliberal ethics in which the freedom of the propertied takes precedent over that of the property-less. Further, we show discursive similarities in the arguments presented by modern Australian businesses and certain historical efforts by members of the business community to privilege commercial freedoms in responses to 18th and 19th Century abolitionist movements. Overall, our research makes two important contributions: first, it highlights the value of a critical discourse lens in business ethics research to show how business and other stakeholders in the field construct and shape their own and other’s ethically-laden understanding of reality; and second, it presents a case for considerable scepticism about the motivation of business to employ the freedoms made available to it under neo/liberal discourse to confront a key human rights challenge. (shrink)

A model of production and exchange is proposed as an alternative to both market-oriented policy and social welfare policy. New patterns of social coordination at work form the basis for a new form of production output value: conducive value. This value is developed in both workers and consumers, activates skills and capabilities, and transforms customers from passive recipients to active users. It broadens the definition of economically valid social activity and it will help to resolve the unemployment dilemma arising with (...) globalization. The article observes that the flexibility demanded by neoliberal, market-oriented policy is antithetical to the flexibility of creative production, which builds on horizontal interaction at work and in exchange, thereby facilitating the creation of social relationships and social capital. In that, it constructs bridges between the new policy and models of social policy which form its platform and enhances the chances for effective democracy in society. (shrink)

In 1988, Colorado instituted a new regulatory system that was opposed by psychologists and social workers. We surveyed 306 psychotherapists about their attitudes regarding this system, which included profession-specific licensing boards and an omnibus board to handle grievances. Social workers and psychologists, members of more established professions, opposed creating an omnibus licensing board and favored the return of profession-specific grievance functions. Members of the newer professions and unlicensed psychotherapists were not as opposed to omnibus boards. All groups agreed in their (...) positive ratings of the performance of the Colorado grievance structure. These results are discussed in terms of "capture" theory, which postulates that professions capture governmental regulation and use it for their own interests. (shrink)

This paper presents the state of corporate social responsibility in Pakistan since it has been driven in the country by the Securities and Exchange Commission of Pakistan, the UN Global Compact, and trade liberalization under the WTO. This study is based on responses obtained from 51 Pakistani companies and 20 MNCs. It was found that MNCs were found to be more socially responsible to customers, to suppliers in terms of their purchasing procedures, to the environment, to their employees, to the (...) community by contributing more to the community’s education and health, and in their greater commitment to ethics. Pakistani companies need to improve their performance on CSR to gain competitive advantage. (shrink)

I argue that reliance on political testimony conflicts with two democratic values: the value of mutual justifiability and the value of equality of opportunity for political influence. Reliance on political testimony is characterized by a reliance on the assertions of others directly on a political question the citizen is asked to answer as part of a formal democratic decision procedure. Reliance on expert testimony generally, even in the context of political decision-making, does not similarly conflict with democratic values. As a (...) consequence of the argument, citizens have a pro tanto reason to rely on their own political judgment when determining their vote, and democratic societies have a reason to only ask citizens questions they are able to answer without reliance on political testimony. (shrink)

Beyond different starting points, stakeholder theory and Catholic Social Thought share many compatible perspectives when analyzing the role of the firm in economic activity, especially regarding the attention of the firm to different social and economic actors. Additionally, ST bears limitations regarding its ethical and anthropological foundation, and also about the legitimation of the different stakeholders’ interests. Therefore, ST lacks clear criteria to solve possible conflicts of interest between stakeholders. This paper analyzes the potentiality of ST, widely accepted in corporate (...) management, to integrate CST principles in order to solve those conflicts. At the same time, the paper studies the possibility of finding in the principles of CST an anthropological and ethical foundation for ST. This foundation could be the source of criteria to discuss the levels of legitimation and prioritization between stakeholders´ interests, especially when those interests collide. (shrink)

ZusammenfassungDer vorliegende Beitrag untersucht, wie angesichts eines Interessenpluralismus ethische Diskurse über innovative und hochriskante Forschungsvorhaben angemessen geführt werden können. Dazu rekonstruieren wir erstens den Begriff des Stakeholders im Kontext seiner Entstehung in der Unternehmensethik und Anwendung in der Medizinethik und legen dessen implizite normative Prämissen frei. Wir entwickeln zweitens eine Klassifizierung von Stakeholdern und illustrieren diese am Beispiel der klinischen Forschung. Besonderes Augenmerk wird dabei auf das Kriterium der Betroffenheit gelegt. Drittens werden für unterschiedliche Formen der Betroffenheit von Stakeholdern angemessene (...) Beteiligungsverfahren vorgestellt, die von Information bis Empowerment reichen können. Wir zeigen, warum es für ethische Diskurse in der Medizin- und Bioethik wichtig ist, Betroffenheit und Beteiligungsverfahren auf transparente und nachvollziehbare Weise in ein reflektiertes Verhältnis zu setzen und wie das praktisch zu bewerkstelligen ist. (shrink)

In a society where the ideology of shareholder value maximization prevails, how do evaluators make appraisal and bonus decisions when corporate social responsibility measures and financial measures in the balanced scorecard point in different directions? To explore this question, we conducted two studies to develop and test a conceptual framework. Participants were asked to evaluate the performance of two managers, using a case we wrote about a commercial bank. We found that evaluators are more willing to drop CSR performance measures (...) than financial measures from the evaluations; perceived CSR relevance is influenced by where evaluators stand in regard to CSR and also by where evaluators believe shareholders stand ; and there is a financial bias in appraisal and bonus decisions when CSR measures are used in the BSC, consistent with SVM ideology. We conclude by discussing the implications of the influence of SVM ideology on the use of CSR measures in terms of business research, practice, and education. (shrink)

In this paper we seek to uncover and analyse unitarist ideology within the field of HRM, with particular emphasis on the manner in which what we call ‘new unitarism’ is ideologically performative in HRM scholarship. Originally conceived of as a way of understanding employer ideology with regard to the employment relationship, unitarist frames of reference conceive a workplace that is characterised by shared interests and a single source of authority. This frame has continuously evolved and persistently formed thinking about HRM; (...) however, this influence has been largely covert and unexamined. Using an epistemic analysis informed by theories of knowledge, we examine new unitarism against three types of validity claims—descriptive, normative, and instrumental—in order to understand how it has been ideologically constitutive of HRM scholarship. We consider the implications of this analysis for HRM research and practice and contend that an alternative frame, namely ‘new pluralism’, has potential to offer a more valid account of the employment relationship, to provide a framework for assessing how power affects the pursuit of employee interests, and to allow space for taking up deeply ethical questions related to employment. (shrink)

Organizations routinely make choices when addressing conflicting stakes of their stakeholders. As stakeholder theory continues to mature, scholars continue to seek ways to make it more usable, yet proponents continue to debate its legitimacy. Various scholarly attempts to ground stakeholder theory have not narrowed down this debate. We draw from the work of Juergen Habermas to theoretically advance stakeholder theory, and to provide practical examples to illustrate our approach. Specifically, we apply Habermas’ language-pragmatic approach to extend stakeholder theory by advancing (...) seven sets of normative axioms. We conclude that a deliberative approach, with its focus on the conditions of legitimation and deliberative democracy, has the potential to become a cornerstone of stakeholder theory. The need for global stakeholder discourse and its internalization in corporate structures and institutions is exemplified by a multitude of CSR and stakeholder initiatives that have mushroomed in response to global risk scenarios such as climate change, nuclear warfare, or terrorism. Further research may help to build a functioning global governance system in order to provide guidance for management in the 21st century. (shrink)

RESUMO Neste artigo, são rejeitadas duas teses relativamente aceitas a respeito do projeto filosófico tardio desenvolvido por John Rawls. A primeira tese afirma que o objetivo de obras como "O Liberalismo Político" e "Justiça como Equidade: Uma Reformulação" seria o de revisar a natureza do argumento contratualista de Rawls. A segunda, por sua vez, afirma que a principal consequência dessa revisão teria sido certo recuo das implicações igualitárias de sua teoria da justiça original. Procurar-se-á rejeitar ambas as proposições mostrando que (...) "O Liberalismo Político" deve ser entendido como uma teoria acerca do uso legítimo do poder em uma sociedade democrática, e que essa teoria da legitimidade possui consequências distributivas próprias, incompatíveis com teorias liberais convencionais. ABSTRACT The article aims to reject two interrelated theses on the philosophical project carried forward by the late John Rawls. The first thesis states that there is an important change in Rawls' late works such as "Political Liberalism" and "Justice as Fairness: A Restatement" regarding the nature of his theory. Particularly, this change would had brought about a reassessment of Rawls' contractualist argument. The second thesis claims that one of the most important consequences of such reassessment is the retreat from strong egalitarian commitments, as they were present in Rawls' original theory of justice. The article rejects both theses, showing that Political Liberalism can be understood as a theory about the legitimate uses of power in a democratic society and that such new theory of legitimacy brings about distributive consequences by its own that sharply contrast with classical liberal theories. (shrink)

The for-profit sector is an active, viable and financially successful piece of the landscape of education and assumed to continue growing. “Edupreneurs” or private, for-profit education companies provide desirable and affordable educational products and services for students, or better, customers. At the tertiary level, for-profit higher education is defined “private institution[s] in which the individual or agency in control receives compensation other than wages, rent, or other expenses for the assumption of risk”. In other words, public higher education and private (...) not-for-profit colleges and universities on the one hand are not entitled to benefit private interests and net earnings cannot be distributed to owners or shareholders. On the other hand, for-profit institutions set their goal to make a profit for their owners or shareholders. According to John Sperling, For-profit universities offer several advantages over non-profit institutions, among which are the for-profit’s accountability for educational effectiveness, operational efficiency, cost benefits, and the time it takes them to respond to changes in the education needs. Fueled by the trends of internationalization, globalization, commercialization, and privatization in the education sector, for-profit education expands worldwide. This research intends to feature the Chinese echoes to the trend of For-profit education. The purpose of the study is three-fold. To begin with, the author aims to portray the scope and size of Chinese for-profit education sector, and make a tentative classification for “Edupreneurs” operating in Chinese education and training market. Next, the author aims to show the panorama of Chinese for-profit education, looking into the yesterday, today, and tomorrow of Chinese “Edupreneurs”. Last but not least, the researcher proposes to promote educational cooperation between Germany and China. Germany is blessed with excellent educational resources and services, and among one of the most popular destinations for international student mobility. Nevertheless, Germany has been avoiding the private surge, and thus a for-profit surge so far, even when faced with severe budget cuts and funding problems. Is this a voluntary or reluctant rejection, under the current educational system lacking self-management and autonomy? A quest for combining educational provision and consumption between Germany and China will then be incorporated in this study. Qualitative research methods are used to collect data. The primary source of data comes from semi-structured interviews with middle or senior administrators of selected for-profit educational companies. Other sources include direct observation made by the researcher during the periods of visiting the interviewees and companies; official documents ; internal documents; company fact book; company website; journalism, and others. (shrink)

In this paper we will analyze the relationship between free market principles and ethics through an exploration of how too many business managers often approach the ideas of Adam Smith and Milton Friedman. In doing so, we aim to provide a thoughtful foundation for future discussions of how we ought to navigate this intersection. We briefly examine questions such as: What is the relationship between the “best” economy in terms of efficiency and the common good for society? Is pursuing one’s (...) individual economic advantage the same as promoting the general interest? As we analyze and discuss these questions, specifically in the context of Smith and Friedman, we also make some alternative normative assertions, grounded in social welfare, about adopting a broader societal perspective for the purpose of business. (shrink)

As the millennium approaches, the United States is on the verge of major health care reform. While swallowing scarce national resources, our health care system produces unenviable results and major inconsistencies. In 1992, $838.5 billion were spent on health care, biting more than 14 percent out of our gross national product. From 35 to 37 million Americans, or approximately 14 percent of the populationn, are uninsured. Our health care system is inherently inconsistent: We have the highest birthweight-specific survival rate of (...) any country in the world, yet we rank 19th worldwide in infant mortality rate, i.e., state-of-the-art medical technology allows us to save a 500-gram infant, yet the mother of that infant may not have had access to basic, minimal prenatal care. (shrink)

Alasdair MacIntyre’s After Virtue presented a reinterpretation of Aristotelian virtue ethics that is contrasted with the emotivism of modern moral discourse, and provides a moral scheme that can enable a rediscovery and reimagination of a more coherent morality. Since After Virtue’s publication, this scheme has been applied to a variety of activities and occupations, and has been influential in the development of research in accounting ethics. Through a ‘close’ reading of Chaps. 14 and 15 of AV, this paper considers and (...) applies the key concepts of practices, institutions, internal and external goods, the narrative unity of a human life and tradition, and the virtues associated with these concepts. It contributes, firstly, by providing a more accurate and comprehensive application of MacIntyre’s scheme to accounting than that available in the existing literature. Secondly, it identifies areas in which MacIntyre’s scheme supports the existing approach to professional accounting ethics as articulated by the various International Federation of Accountants pronouncements as well as areas in which it provides a critique and challenge to this approach. The application ultimately provides an alternative philosophical perspective through which accounting can be examined and further research into accounting ethics pursued. (shrink)

In this article we discuss whether it pays to invest ethically. Our aim is to examine corporate social responsibility from philosophical, moral and practical points of views. We focus on two main issues related to ethical investments. Firstly we discuss the moral dilemma of how capitalism has changed its shape in today's world and from 'blaming the business' there is a general attempt to use the markets to promote ethics values and corporate social responsibility. Secondly, we analyze the growth of (...) ethical investment funds in the UK today, and their performance, and highlight some of the institutional investors involved in the management of ethical funds. We discuss whether ethical investments really succeed in reducing the conflict between profit-making and social responsibility as they promise or whether they use commercial rhetoric and market mechanism to merely sell us our own perceived values back. We conclude that the paper has a key contribution in setting the scene for future research in an area that is evolving and of fundamental importance to companies, investors and various stakeholder groups. (shrink)

This study examines the effects of nationality (U.S. vs. China) and personal values on managers’ responses to the Perceived Role of Ethics and Social Responsibility (PRESOR) scale. Evidence that China’s transition to a socialist market economy has led to widespread business corruption, led us to hypothesize that People’s Republic of China (PRC) managers would believe less strongly in the importance of ethical and socially responsible business conduct. We also hypothesized that after controlling for national differences, managers’ personal values (more specifically, (...) self-transcendence values) would have a significant impact on PRESOR responses. The hypotheses were tested using a sample of practicing managers enrolled in part-time MBA programs in the two countries. The results indicate that nationality did not have a consistent impact on PRESOR responses. After controlling for national differences, self-transcendence values had a significant positive impact on two of the three PRESOR dimensions. Conservation values such as conformity and tradition also had a significant association with certain dimensions of the PRESOR scale. (shrink)

This paper explores the role of strategic conversations in corporate social responsibility (CSR) strategy formation. The authors suggest that explicitly engaging stakeholders in the CSR strategy-making process, through the mechanism of strategic conversations, will minimize future stakeholder concerns and enhance CSR strategy making. In addition, suggestions for future research are offered to enable a better understanding of effective strategic conversation processes in CSR strategy making and the resulting performance outcomes.

In the wake of recent corporate scandals, this paper traces the growing power of pension funds to provide managerial oversight of the firms they hold in their investment portfolios. Increasingly pension funds are exercising their legitimate rights as owners to raise the corporate governance standards of the firms they invest in. Within corporate governance generally, pension funds are shifting their attention away from managerial accountability and toward measures that increase transparency in firm-level decision-making. Pension funds use transparency to ensure that (...) shareholders are the primary interest being served by the firm. Transparency not only aligns managers and owners, it also raises issues of firm behaviour that allow other stakeholders to engage the corporation more broadly. I contend that secrecy is economically inefficient. When organizations are opaque and interests are secret, decision-making can and does distort efficiency. I examine recent pension fund corporate governance campaigns with particular reference to the California Public Employees Retirement System. (shrink)

This paper offers an evaluation of corporate policy and practice in respect of corporate social responsibility (CSR) deriving from an analysis of qualitative data, obtained during semi-structured interviews with the representatives of 16 companies from a variety of UK sectors including retail, mining, financial services and mobile telephony. The findings of the empirical survey are presented in five sections that trace chronologically the process of CSR policy development. The first identifies the meaning attributed to CSR by the respondent companies followed (...) in the second section by the factors that are driving them to implement the CSR agenda. The third examines the use of the language of CSR and the concept’s role as either a substantive concept or simple label. The fourth identifies the criteria used for determining CSR policies and the objectives underlying them. The fifth and final section offers an analysis of the respondents’ predictions as to the future development of CSR. On the basis of the findings of the survey, this paper argues that, despite genuine attempts on the part of those responsible for CSR policy development to address stakeholder concerns, the context within which CSR has been implemented hinders its potential to offer stakeholders sufficient information by which to evaluate corporate performance in respect of CSR and the ability of CSR to operate as a meaningful and systematic constraint on corporate behaviour. (shrink)

Taking a Sartrean existentialist viewpoint towards business ethics, in particular, concerning the question of the nature of businesspersons’ moral character, provides for a dramatically distinct set of reflections from those afforded by the received view on character, namely that of Aristotelian-based virtue ethics. Insofar as Sartre’s philosophy places human freedom at center stage, I argue that the authenticity with which a businessperson approaches moral situations depends on the degree of consciousness he or she has of the various choices at stake. (...) Finally, I consider some practical changes in business ethics education, managerial decision-making, and business organizations that Sartrean reflections might prompt. (shrink)

Having the ambition to contribute to the practical value of the theory on corporate social performance (CSP), this paper approaches the question whether CSP can contribute to the competitive advantage of firms. We adopted an explorative case-study methodology to explore the variety of positive and negative effects of CSP on the competitiveness of organizations. As this study aimed at identifying as great variety of these effects as possible, we selected a diversified group of respondents. Data was thus collected through embedded (...) units of analysis in a petrochemical company, and triangulated with the opinions of experts on CSP. Overall, we found various positive and negative effects of CSP on the competitiveness of organizations. CSP is therefore not an innocent adventure for executives, but rather a strategy for achieving corporate objectives. If not carefully implemented, the CSP strategy may harm the competitive advantage of the firm, as our results have suggested. (shrink)

This paper addresses the question of the existence of corporate philanthropy. It proposes a framework for analysing corporate philanthropy along the dimensions of business/society interest and primary/secondary stakeholder focus. The framework is then applied in order to understand business involvement with the arts in the U.K. A unique dataset of 60 texts which describe different firms' involvement with the Arts is analysed using formal content analysis to uncover the motivations for business involvement. Cluster analysis is then used in order to (...) identify motivational groupings. Two broad types of involvement are identified – advertisers and legitimators. Only in one case of the 60 is there the potential to observe pure altruism. The contribution of this paper is twofold. First, it provides a clear framework to understand the motivations for corporate giving and applies this using empirical data. Secondly, this research finds little evidence, if at all, of corporate philanthropy in the context of firms giving to the Arts in the U.K. (shrink)

Popular clothing retailer Abercrombie and Fitch (A&F) is well-known for hiring attractive store sales clerks. While the economic benefits of this hiring practice for the company are undeniable, many commentators contend that it constitutes wrongful discrimination against unattractive job seekers. In this article, I explore the ethics of A&F-style lookism and challenge two common perspectives on this issue. I argue that on one hand, looks-based hiring cannot be defended based on its economic benefits alone, as race-based hiring also can be (...) profitable in some circumstances. At the same time, I reject arguments that looks-based hiring is not “job relevant” given its economic impact in many contexts. Through a com- parison between race- and looks-based hiring, I conclude that at least for businesses that are relevantly similar to A&F—firms for which lookism produces clear economic benefits—looks-based hiring is permissible. (shrink)

Many tensions exist within the nexus of corporate social responsibility, competitive strategy, and political activity. Previously, these aspects of strategic management have been considered in relative isolation or at best in pairs. Accordingly, an attempt is made here to set out a general strategic problem of the corporation, in which all three aspects are combined. This project reveals a particular need to explicate the political assumptions held by or on behalf of the corporation. Examples might include the classical liberal model, (...) global hypercompetition, or variants of the stakeholder model. The project also reinforces the broader notion that when one adopts the perspective of a corporate strategist, one can sometimes find potentially productive ways of reframing issues in ethics, economics, and politics. (shrink)

The article posits the concept of economy of mutuality as an intellectual mediation space for shifts in emphasis between market and social structures within economic theory and practice. Economy of mutuality, it is contended, provides an alternative frame of reference to the dichotomy of market economy and social economy, for inquiry about what business is for and what values it presupposes and creates. The article centers around the objective of gaining a broadened understanding of business so as to include not (...) just market economy, but social enterprise and social economy. In pursuit of this objective, a range of various archetypes of business enterprise are considered in light of higher ends of economic life. The highest telos of business encompassing all such archetypes, it is argued, is founded on reciprocity and integral human development. The article concludes that, compared to market economy per se, economy of mutuality provides a better conceptual framework for business in undertaking the challenges of sustainability. (shrink)

The macro-level business ethics in Scholasticism contrasts with modern Anglo-Saxon Capitalism, which is very influential worldwide. Scholasticism, developed between the thirteenth and the mid-seventeenth centuries, deals with key elements of free market morality, including private property, contracts, profits, prices, and free competition. For over 500 years Scholasticism tried to understand economic phenomena and business activities and reflected on them from an ethical perspective. Scholasticism offered the crucial lesson of the centrality of justice and the role of practical wisdom in considering (...) market morality. Justice is seen as both a virtue and a principle, and commutative justice with the common good of society as the reference for the Scholastics, is regarded as being especially important. (shrink)

This paper traces missing links in the history of economic thought. In outlining Hume's concept of 'the reflexive mind' it shows that this opened frontiers between philosophy and psychology which Bertrand Russell denied and which logical positivism in philosophy and positive economics displaced. It relates this to Hume's influence not only on Smith, but also on Schopenhauer and the later Wittgenstein, with parallels in Gestalt psychology and recent findings from neural research and cognitive psychology. It critiques Kant's reaction to Hume's (...) claim that one may assume but cannot prove cause and effect and how Samuelson's Foundations of Economic Analysis has been Kantian but wrong in claims for axioms that are universal truths. It illustrates how Samuelson's presumption that language and mathematics are 'identical' was as mistaken as the logical atomism of Russell and the early Wittgenstein, relates this to Kleinian splitting, denial and projective identification and suggests that recovery of greater realism in economics needs to regain links with such philosophy and psychology. (shrink)

The article is an evaluation of the economic, organizational and social theory of Luc Boltanski and Eve Chiapello’s The New Spirit of Capitalism 15 years after its publication. The role of network capitalism, state capitalism, and aesthetic capitalism in French social life is analysed. The article concludes that flexible network capitalism was largely a chimera of the 1990s and that French political and economic life today is dominated by an ailing state capitalism.

The objective of this paper is to discuss some of the foundational issues centering around the question of integrating education in human values with professional engineering education: its necessity and justification. The paper looks at the efforts in ‘tuning’ the technical education system in India to the national goals in the various phases of curriculum development. The contribution of the engineering profession in national development and India’s self-sufficiency is crucially linked with the institutionalization of expertise and the role of morality (...) and responsibility. This linkage can be created through a proper understanding of the social role of the profession—what motivates the professionals and what makes professional life meaningful. Value education facilitates the process of moral maturity and the development of a ‘holistic’ mindset. This paper deals with the need to create such a mindset, the human values associated with it and gives examples of efforts to impart such education through ‘action-oriented’ programmes introduced in some institutes of engineering in India. (shrink)

A quick look at what is happening in the corporate world makes it clear that the stakeholder idea is alive, well, and flourishing; and the question now is not “if ” but “how” stakeholder theory will meet the challenges of its success. Does stakeholder theory’s “arrival” mean continued dynamism, refinement, and relevance, or stasis? How will superior stakeholder theory continue to develop? In light of these and related questions, the authors of these essays conducted an ongoing dialogue on the current (...) state and future of stakeholder thinking. Beginning with a review of research and theory that has developed since the major stakeholder theorizing efforts of the 1990s, the authors individually offer their perspectives on the key issues relevant today to stakeholder thinking, and to suggest possible approaches that might lead toward and enable the continuing development of superior stakeholder theory. (shrink)

A recurrent challenge in applied ethics concerns the development of principles that are both suitably general to cover various cases and sufficiently exact to guide behavior in particular instances. In business ethics, two central approaches—stockholder and stakeholder—often fail by one or the other requirement. The author argues that the failure is precipitated by their reliance upon “universal” theory, which views the justification of principles as both independent of their context of application and universally appropriate to all contexts. The author develops (...) a contextual interpretation of “constructivism” as an alternative approach, and argues that this alternative meets the above challenge. (shrink)

This research involves a review of the submissions to a 2005/06 Australian Government Inquiry into Corporate Social Responsibility. The Inquiry was established to investigate whether corporate social responsibilities and accountabilities should be regulated, or left to be determined by market forces. Our results show that the business community overwhelming favour an anti-regulation approach whereby corporations should be left with the flexibility to determine their social responsibilities and associated accountabilities and ‘enlightened self-interest’ should be retained as the guiding mechanism for social (...) responsibility initiatives. In stark contrast, the submissions from social and environmental organisations and individuals provided counter-arguments in favour of a pro-regulation view. Ultimately Government embraced the ‘free market perspective’ promoted by the business community and decided against the introduction of national legislation pertaining to corporate social responsibilities. (shrink)

John Steinbeck’s 1939 novel can be given a reading that links events and the mentality of characters to mainstream schools of liberal and neo-liberal political theory: libertarianism, egalitarianism, and utilitarianism. Each of these schools is sketched in outline and applied to topics in rural political culture. While it is likely that Steinbeck himself would have identified with an egalitarian or utilitarian view, he resists the temptation to deny his Okie characters an authentic voice that matches none of these schools so (...) well as it articulates an agrarian mentality once associated with Thomas Jefferson and today articulated by Wendell Berry. This reading of The Grapes of Wrath, in turn, can be interpreted as both a rebuke to contemporary social theorists who continue to impose an ill-fitting left-right dichotomy on working class political culture in rural America and as a roadmap suggesting ways that philosophy and rural sociology might engage one another more directly and productively with respect to contemporary rural development and environmental quality issues. (shrink)