This paper explores the notion that business calls for an adversarial ethic, akin to that of sport. On this view, because of their competitive structure, both sport and business call for behaviours that are contrary to ‘ordinary morality’, and yet are ultimately justified because of the goods they facilitate. I develop three objections to this analogy. Firstly, there is an important qualitative difference between harms risked voluntarily and harms risked involuntarily. Secondly, the goods achieved by adversarial relationships in sport go (...) beyond the function of sport, i.e. to entertain audiences. Thirdly, the most plausible account of the athlete’s motivational development starts with their love of the sport, which can explain a commitment to the sporting ethics in a way that is not paralleled in business. I close by drawing attention to the ways in which an Aristotelian conception of business ethics may be able to accommodate these objections. (shrink)

This paper argues that Quaker business ethics can be understood as a MacIntyrean tradition. To do so, it draws on three key MacIntyrean concepts: community, compartmentalisation, and the critique of management. The emphasis in Quaker business ethics on finding unity, as well as the emphasis that Quaker businesses have placed on serving their local areas, accords with MacIntyre’s claim that small-scale community is essential to human flourishing. The emphasis on integrity in Quaker business ethics means practitioners are well-placed to resist (...) the compartmentalising pressures of contemporary work. Quaker business ethics is also highly critical of the manipulative forms of management that MacIntyre regards as dominant. As such, Quaker business ethics provides evidence that more morally ameliorative forms of running business organisations is possible, even if they remain difficult to achieve. (shrink)

This paper draws a distinction between ‘right MacIntyreans’ who are relatively optimistic that MacIntyre’s vision of ethics can be realised in capitalist society, and ‘left MacIntyreans’ who are sceptical about this possibility, and aims to show that the ‘left MacIntyrean’ position is a promising perspective available to business ethicists. It does so by arguing for a distinction between ‘community-focused’ practices and ‘excellence-focused’ practices. The latter concept fulfils the promise of practices to provide us with an understanding of the best work (...) for humankind and highlights the affinities between MacIntyre’s concept of a practice and Marx’s conception of good work as free, creative activity. The paper concludes with a suggestion that we reflect on the best forms of work so that we can strive to ensure the very best activities, those most consonant with our flourishing, one day become available to all. (shrink)

This article provides an overview of the field of business ethics.

The purpose of this article is to discuss the concept and the content of courses on “social ethics”. I will present a dilemma that arises in the design of such courses. On the one hand, they may present versions of “applied ethics”; that is, courses in which moral theories are applied to moral and social problems. On the other hand, they may present generalised forms of “occupational ethics”, usually professional ethics, with some business ethics added to expand the range of (...) the course. Is there, then, not some middle ground that is distinctively designated by the term “social ethics”? I will argue that there is such a ground. I will describe that ground as the ethics of “social practices”. I will then illustrate how this approach to the teaching of ethics may be carried out in five domains of social practice: professional ethics, commercial ethics, corporate ethics, governmental ethics, and ethics in the voluntary sector. My aim is to show that “social ethics” courses can have a clear rationale and systematic content. (shrink)

It has been claimed that ‘virtuous structures’ can foster moral agency in organisations. We investigate this in the context of employee involvement in corporate philanthropy, an activity whose moral status has been disputed. Employing Alasdair MacIntyre’s account of moral agency, we analyse the results of eight focus groups with employees engaged in corporate philanthropy in an employee-owned retailer, the John Lewis Partnership. Within this organisational context, Employee–Partners’ moral agency was evidenced in narrative accounts of their engagement in philanthropic activities and (...) in their disputes about the moral status of corporate philanthropy. (shrink)

Virtue ethics is currently one of three major approaches in normative ethics. It may, initially, be identified as the one that emphasizes the virtues, or moral character, in contrast to the approach that emphasizes duties or rules (deontology) or that emphasizes the consequences of actions (consequentialism). Suppose it is obvious that someone in need should be helped. A utilitarian will point to the fact that the consequences of doing so will maximize well-being, a deontologist to the fact that, in doing (...) so the agent will be acting in accordance with a moral rule such as “Do unto others as you would be done by” and a virtue ethicist to the fact that helping the person would be charitable or benevolent. (shrink)

The notion that business organizations are akin to Aristotelian political communities has been a central feature of research into virtue ethics in business. In this article, I begin by outlining this “community thesis” and go on to argue that psychological research into the “just world fallacy” presents it with a significant challenge. The just world fallacy undermines our ability to implement an Aristotelian conception of justice, to each as he or she is due, and imperils the relational equality required for (...) shared participation in communities. In the final section, I offer a description of what Aristotelian community might look like within organizations, and some suggestions about how it may be possible to resist the challenge posed by the just world fallacy. (shrink)

Hegel’s practical philosophy has important insights for understanding the ethical role of the firm in modern society. From a broadly Hegelian perspective, the firm’s role in society is to facilitate freedom, that is, the concrete realization of rational agency. It does this by providing the institutional structures, norms, practices, and modes of discourse necessary for individuals to link their subjective aims with objectively valid societal aims, embodied in the firm’s purpose. Accordingly, I first present a Hegelian account of the link (...) between action and social structure, before arguing that the firm, when it functions properly, enables individuals to express their capacity for rational agency within concrete social contexts. I then draw upon Paul Adler’s Marxist analysis of the development of organizational structures and processes to support the viability of a broadly Hegelian account of the firm within a contemporary economic context. I conclude by outlining a number of practical implications of this account, before explaining its implications for two prominent theories of business ethics, the MacIntyrean perspective, and the Market Failures Approach. (shrink)

Alasdair MacIntyre´s criticism of Modernity essentially refers to the problem of compartmentalization, which restricts the possibility of achieving excellence in an integral lifestyle. Among other reasons, compartmentalization is especially derived from an insular valorization of the workplace based on a reductionist understanding of productivity in terms of mere efficiency. Aimed at overcoming the moral confusion derived from the overestimation of technical, skilled productivity and individualistic cooperation in private corporations, this article offers a thicker explanation of MacIntyre’s theory of productive work (...) in light of a narrative approach that opens up the possibility of achieving standards of excellence in modern production. To do so, it follows MacIntyre’s understanding of productivity in terms of craftsmanship by explaining what excellence in production is and the role it plays in achieving unity of life and excellence in modern corporations based on two criteria derived from a historical definition of production, namely, craftsmanship and collegiality. (shrink)

Despite a growing body of research by management scholars to understand and explain failures in ethical decision making (EDM), misconduct prevails. Scholars have identified character, founded in virtue ethics, as an important perspective that can help to address the gap in organizational misconduct. While character has been offered as a valid perspective in EDM, current theorizing on how it applies to EDM has not been well developed. We thus integrate character, founded in virtue ethics, into Rest’s (1986) EDM model to (...) reveal how shifting attention to the nature of the moral agent provides critical insights into decision making more broadly and EDM specifically. Virtue ethics provides a perspective on EDM that acknowledges and anticipates uncertainties, considers its contextual constraints, and contemplates the development of the moral agent. We thus answer the call by many scholars to integrate character in EDM in order to advance the understanding of the field and suggest propositions for how to move forward. We conclude with implications of a character-infused approach to EDM for future research. (shrink)

The calling orientation to work represents the seed that has germinated into the exponentially growing ‘work as a calling’ literature. It was first articulated by Robert Bellah, Richard Madsen, William Sullivan, Ann Swidler, and Steven Tipton within Habits of the Heart in the 1980s. The following critical analysis of the ‘work as a calling’ literature, and of the moral foundation of the calling orientation more specifically, is intended for two particular audiences. The first audience broadly includes an interdisciplinary group of (...) scholars working within business ethics, management, organizational psychology, and vocational psychology, among other fields of study. Amidst these scholars’ exponentially increasing interest in the idea of ‘work as a calling,’ the anatomical structure of their research remains remarkably similar. Their notions of ‘work as a calling’ stress that work should provide individuals with a deep sense of personal fulfillment. In particular, they suggest that work should be a therapeutic source of individual meaning. To secure this meaning, they exhibit an apparent centeredness on the self and an emphasis on the unconstrained pursuit of personal preferences. In most cases, scholars within the ‘work as a calling’ literature tend to proffer notions of ‘meaningful work’ that are divorced from moral considerations about ‘good work.’ While this broad group of scholars copiously references the calling orientation within their research on ‘work as a calling,’ a deep-seated misunderstanding pervades the literature to the extent that notions of ‘meaningful work’ have been divorced from notions of ‘good work.’ To this broader audience, I demonstrate herein that they do not realize how antithetical their scholarly literature on ‘work as a calling’ is to the moral foundation of Bellah et al.’s calling orientation. Namely, I argue that the construal of calling as an orientation to work would not exist within the literature if Bellah et al. had not first articulated the calling orientation as a buffer against the unregulated pursuit of personal preferences. Therefore, I claim that this broader group of scholars either needs to abandon the notion of ‘work as a calling’ or engage with the appropriate virtue framework that undergirds the calling orientation. I suspect, however, that several of these scholars will be hesitant to take up the virtue framework that is inextricably linked to the calling orientation. For this reason, much of the work following chapter 2 is devoted to a narrower audience of MacIntyrean business ethicists. It is also dedicated to a few scholars from the broader ‘work as a calling’ group whom I trust will not wish to remain accidental contributors to the language of individualism that pervades the literature once I have unmasked it. Perhaps, in time, they will even become MacIntyrean business ethicists. Indeed, the appropriate moral framework that undergirds the ‘work as a calling’ literature is actively being worked out by a narrower group of MacIntyrean business ethicists, all of whom represent my primary audience for the research herein. To the MacIntyrean community, I hope not only to provide a complete list of tendencies within the ‘work as a calling’ literature that must be resisted, but also a picture of all of the ways that Bellah et al.’s calling orientation is wholly bound up with MacIntyre’s moral philosophy – particularly his theory of the virtues and the common goods that the virtues sustain. Bellah et al.’s calling orientation rests upon a vision of ‘good work,’ and this vision of ‘good work’ hinges on a MacIntyrean account of the virtues that is directed toward the achievement of three distinct types of common goods: the good and worthy ends of workplace practices, the goods of an individual life, and the goods of communities – or, more broadly, the interests of a good society. Furthermore, it will be shown to the MacIntyrean community that visions of ‘good work,’ which are sustained by the calling orientation, are accompanied by a nuanced vision of pluralistic collaboration that MacIntyre and Bellah et al. share.. Bellah et al. as well as MacIntyre’s vision of pluralism matters for research on the calling orientation because these figures demonstrate that individuals within the late modern workplace are informed by a plurality of religious and humanistic traditions, all of which account for ultimate meaning and goodness in different ways that ought to be recognized. Distinctive religious and humanistic visions of ultimate meaning indeed impact the perceived goodness of one’s calling. Hence, we must attend to the polysemic and multivocal nature of accounting for the goodness of any one particular calling. Still, however, Bellah et al. and MacIntyre’s account entails a hopefulness in the possibility of pluralistic, striving for the achievement of common goods that are practical enough to agree upon. (shrink)

This paper conducts an ethical analysis of the 2008 closure of a US money market fund entitled the reserve primary fund, which triggered the first run in the money market sector and a resultant liquidity crisis that harmed the entire US financial system. Although many academics and regulators have studied and written about RPF, the question whether the decision that caused the fund to collapse represented any ethical dilemma, has not been addressed to date. With this purpose in mind, the (...) paper will examine the events that culminated in the closure of RPF according to Alasdair MacIntyre’s virtue ethics approach. In so doing, the paper aims to extend the applicability of MacIntyre’s concepts to the finance industry in general, and to provide a framework to predict and so potentially prevent crises like that exemplified by the RPF case. (shrink)

Dimensions of character are often overlooked in professional practice at the expense of the development of technical competence and operational efficiency. Drawing on philosophical accounts of virtue ethics and positive psychology, the present work attempts to elevate the role of ‘good’ character in the professional domain. A ‘good’ professional is ideally one that exemplifies dimensions of character informed by sound judgement. A total of 2340 professionals, from five discrete professions, were profiled based on their valuation of qualities pertaining to character (...) and judgement. Profile differences were subsequently examined in the self-reported experience of professional purpose towards a wider societal ‘good’. Analysis of covariance, controlling for stage of career, revealed that professionals valuing character reported higher professional purpose than those overweighting the importance of judgement or valuing neither character nor judgement, F = 7.92, p <.001. No differences were found between the two groups valuing character, irrespective of whether judgement was valued simultaneously. This profiling analysis of entry-level and in-service professionals, based on their holistic character composition, paves the way for fresh philosophical discussion regarding what constitutes a ‘good’ professional and the interplay between character and judgement. The empirical findings may be of substantive value in helping to recognise how the dimensions of character and judgement may impact upon practitioners’ professional purpose. (shrink)

In this essay, I focus on the initial reaction of the then leadership of the Academy of Management to President Trump’s travel ban issued in January 2017. By viewing the travel ban in purely administrative terms, AOM leadership framed it as an example of “political speech”, on which they were organizationally barred to take a public stand. I subject this view to critical assessment, arguing that the travel ban had a distinct moral character, which was antithetical to scholarly values. Τhe (...) travel ban, I suggest, should be viewed as a non-prototypical case of political speech, which required AOM leadership to flexibly adapt existing rules in situ: to imaginatively frame the travel ban in order to undertake responsible action. Accordingly, the early 2017 AOM rules about political speech should be seen not as recipes-for-action but as reminders-for-action, thus allowing an imaginative reframing. Finally, exploring the notion of moral imagination, I distinguish between “disclosive” and “incremental” moral imagination and responsibility, and suggest that AOM leadership engaged mainly in the latter. (shrink)

One of the key debates about applying virtue ethics to business is whether or not the aims and values of a business actually prevent the exercise of virtues. Some of the more interesting disagreement in this debate has arisen amongst proponents of virtue ethics. This article analyzes the central issues of this debate in order to advance an alternative way of thinking about how a business can be a form of virtuous practice. Instead of relying on the paired concepts of (...) internal and external goods that define what counts as virtuous, I offer a version of speech act theory taken from Paul Ricoeur to show how a business can satisfy several aims without compromising the exercise of the virtues. I refer to this as a polyvalent approach where a single task within a business can have instrumental, conventional, and imaginative effects. These effects correspond to the locutionary, illocutionary, and perlocutionary dimensions of meaning. I argue that perlocution provides a way in which the moral imagination can discover the moral significance of others that might have not been noticed before, and furthermore, that for such effects to be practiced, they require appropriate virtues. I look at two cases taken from consultation work to thresh out the theoretical and practical detail. (shrink)

Research in business ethics has largely ignored questions of equality and dissensus, raised by theorists of radical democracy. Alasdair MacIntyre, whose work has been very influential in business ethics, has developed a novel approach to virtue ethics rooted in both Aristotelian practical philosophy and a Marxian appreciation of radical democracy. In this paper, we bring MacIntyre into conversation with Jacques Rancière and Chantal Mouffe and argue the following: first, MacIntyre’s work has significant similarities with Rancière and Mouffe, thus suggesting that (...) MacIntyrean business ethics has the potential to address the concerns of radical democrats; second, the MacIntyrean business ethics literature has not adequately incorporated the aspects of Macntyre’s work addressing concerns regarding equality and dissensus and future work should pay more attention to these concerns. (shrink)

Rights claims are ubiquitous in modernity. Often expressed when relatively weaker agents assert claims against more powerful actors, especially against states and corporations, the prominence of rights claims in organizational contexts creates a challenge for virtue-based approaches to business ethics, especially perspectives employing MacIntyre’s practices–institutions schema since MacIntyre has long been a vocal critic of the notion of human rights. In this article, I argue that employee rights can be understood at a basic level as rights conferred by the rules (...) constitutive of practices. As such, employee rights correspond to the obligations of practitioners to treat fellow practitioners according to the standards of excellence and requirements of justice. Thus, one way that managers can ensure that their core practice is well-functioning is to recognize employee rights. One implication of this argument is that managers should adopt a more positive stance toward labor unions, insofar as they are a key way for employees to ensure that their voice is heard, and their rights respected. (shrink)

In recent decades, Alasdair MacIntyre has developed a style of moral philosophy and an argument for Neo-Aristotelian virtue ethics that has deeply influenced business ethics. Most of the work inspired by MacIntyre has dealt with individual and organisational dimensions of business ethics rather than the market economic environment in which individuals and organisations operate. MacIntyre has been a fierce critic of capitalism and economics. He has read Adam Smith an advocate of selfish individualism, rule-based ethics and the banishment of teleology. (...) This reading is seriously defective, and Smith in fact offers much of what MacIntyre calls for in economics. MacIntyre's ethical framework can be made more powerful and useful to business ethicists by incorporating Smithian insights, especially Smith's account of market virtues and teleological account of markets as extended cooperation directed towards the common good of wealth creation. Aside from issues of the interpretation of MacIntyre and Smith, this analysis opens new pathways for dialogue between business ethicists and economists. (shrink)

This paper extends an ongoing discussion about establishing a sharper way to conduct ethical investigations into managerial virtue. It does so by relying on Alasdair MacIntyre's moral philosophy in place of those more dominant approaches taken by scholars who make up the field of positive social science. A connection is drawn herein between a MacIntyrean “narrative approach” to investigating managerial virtue and the idea of “work as a calling.” Specifically, it will be argued that the MacIntyrean‐influenced idea of “work as (...) a calling” provides a substantive moral vision that supports an understanding of how virtuous managers ought to narrate their primary workplace motivations. Ultimately, virtuous managers fulfill a “political calling” to support and sustain (a) good work, (b) the good of individual lives, and (c) the common good of communities that their organization reaches. To do this, they must rely on the “shepherd virtue” of practical wisdom (phronesis). Practical wisdom aids virtuous managers’ thinking about achieving the ends of their “calling” as well as any necessary course‐corrections that ought to be made toward the better achievement of those good and worthy ends. (shrink)

Feldman (Organization Science 11(6): 611–629, 2000) describes the striving mechanism as a mode of routine change driven by successful organizational routines. Striving describes a process by which organization members gain a better understanding of the ideals undergirding their actions. In turn, this insight drives changes within routines. In this paper, I argue that the rational actor model, especially as articulated in Donald Davidson’s (1963) theory of action, is unable to account for the striving mechanism of endogenous routine change identified by (...) Feldman (Organization Science 11(6): 611–629, 2000). Drawing upon Brewer’s (2011) criticisms of propositional theories of desire, the account of meta-language intentional attitudes developed by List and Pettit (2011), and MacIntyre’s (2007) theory of social practices, I introduce an expanded framework for conceptualizing agency at the individual level, and aggregation at the organization level, that better accounts for the striving mechanism as a process of endogenous routine change. (shrink)

There is considerable consensus on the idea that Aristotelian virtue ethics advocates moral realism. In numerous works, the well-known business ethicist Edwin Hartman grapples with reconciling the unitary vision of life that a particular kind of moral realism advocates and the pluralist respect for diverse cultures and belief systems that comprise our world. This paper closely follows Hartman's efforts to reconcile his liberal values with his guarded support for Aristotelian moral realism. We argue that the realist interpretation of Aristotle's function (...) argument can be employed to strengthen Hartman's critique of the concept of Homo economicus, which is often posited by its proponents and critics alike as the only viable position for a business manager. Drawing from Aristotle, the paper posits a novel notion of species-excellence as the ultimate telos of human life and an objective basis for a critique of Homo economicus. (shrink)

This article considers financial risk management practice using a virtue ethics lens, in response to ongoing critiques of risk management from within business ethics. Risk management should be seen as embedded within a complex system of cultures, organizations and regulations that are underpinned by a quantitatively reductive or ‘mechanistic’ economic paradigm, where dominant logics of self-interest, profit maximization and short-termism prevail. Building on recent work applying virtue ethics in finance, an alternative to the values, normative expectations and priorities in financial (...) risk management is presented in the form of a refined ‘taxonomy’ of the virtues that can be applied to individuals and organizations engaged in financial risk management. This article aims to contribute to and extend debate on the ethical aspects of risk management and presents an alternative to more technically based critiques which do not engage with the underlying socially constructed foundations of risk management practice. It thereby provides a basis to critique the mechanistic and narrow approach used in the current regulation of the sector. (shrink)