Virtue ethics is regarded as the key in search of moral excellence among corporations. Yet, there are limited works to empirically investigate what virtuous character morally good corporations is expected to exhibit in the course of business from the perspective of customers. To fill this gap, we argue that customers are to evaluate firm’s virtuous character using Confucian cardinal virtues (ren, yi, and li) and perceived virtuousness determines customer loyalty. We test this argument using a sample of 276 Hong Kong (...) Chinese. The result suggests that a corporation not only has to offer a good value and high quality to customers but also needs to develop and acquire virtuous character in retaining customer loyalty. Firm has to embrace ren, yi, and li as the primary business goal. In fact, they are not the means but the end in themselves. The continuous pursuit of these cardinal virtues at the firm level not only establishes proper corporate values but also enables a firm to act morally in the course of business. Such kind of firm is known as junzi corporation. (shrink)

The present study takes Confucian entrepreneurs as an entry point to portray the dynamics and problems involved in the process of putting moral precepts into practice, a central issue in business ethics. Confucian entrepreneurs are defined as the owners of manufacturing or business firms who harbor the moral values of Confucianism. Other than a brief account of their historical background, 41 subjects from various parts of Mainland China, Taiwan, Hong Kong, Singapore and Kuala Lumpur were selected for in-depth interviews. By (...) studying the moral choices they made in the market, it was discovered that, contrary to the prevalent mode of inquiry in economics either to reduce all social phenomena to rational calculations or to consider moral actions in terms of utilitarian values, their economic action cannot be accounted for by the postulate of utility maximization, and that the efforts to do business according to their moral principles can be very costly. The study also attempts to document how these Confucian entrepreneurs reconciled the conflict between the moral values they cherished and the instrumental goals they pursued, and will seek to uncover how they responded when faced with this dilemma. (shrink)

What can remain unchanged while the Ru tradition (Confucianism) is continually passed down generationally and passed on geographically to non-Chinese Asian countries and beyond? Does the answer to this question hinted by the tradition itself, viz., the ethic of Three Guides and Five Constant Virtues, still work in contemporary society? As intrigued by these fundamental questions on Ruism, scholars have debated on the nature of the ethic and its adaptability to the contemporary world. One side of scholars condemned it as (...) an outdated, premodern ethic of power which urges unconditional obedience to hierarchy, while another side championed it as a modern ethic which aims to strengthen the autonomy of each individual in reciprocal relationships. While presenting two cases of Ru business practice, viz., Shibusawa Eiichi in Meiji Japan and Peter Drucker in the contemporary U.S., the article treats the controversial ethic as a hypothesis, and assesses it using an empirical method to reinforce views of scholars who have furnished a favorable interpretation of the ethic. (shrink)