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)

According to the origin of the word "humanism" and the concept of humanitas where the former comes from, management could be called humanistic when its outlook emphasizes common human needs and is oriented to the development of human virtue, in all its forms, to its fullest extent. A first approach to humanistic management, although quite incomplete, was developed mainly in the middle of the 20th century. It was centered on human motivations. A second approach to humanistic management sprang up in (...) the 80's and centered on organizational culture. This implied a wider approach to the human condition while taking into account the influence of culture on behaviors and decisionmaking, but it is incomplete, too. There is a third approach to humanistic management, which is still emerging, that considers a business enterprise as a real community of persons. That means promoting unity and favoring the acquisition of human virtues. This humanistic management approach is a real challenge in order to achieve a higher moral quality in management, human virtues among people and more efficient organizations. (shrink)

In this essay I sketch some vices of virtue ethics, draw on inference about the philosophical source of the vices, and conclude with a recommendation concerning future efforts in moral theory construction. The source of the vices, I argue, lies in a mononomic or single-principle strategy within normative theory construction, a reductionist conceptual scheme which distorts certain integral aspects of our moral experience. My recommendation is that this strategy be abandoned, for the moral field is not unitary -- mononomic methods (...) are not the best tools for moral theorists. (shrink)

Role of the entrepreneur in a distinct role of profit.

Abstract:This paper is a further development of two previous pieces of work (Moore 2002, 2005) in which modern virtue ethics, and in particular MacIntyre’s (1985) related notions of “practice” and “institution,” have been explored in the context of business. It first introduces and defines the concept of corporate character and seeks to establish why it is important. It then reviews MacIntyre’s virtues-practice-institution schema and the implications of this at the level of the institution in question—the corporation—and argues that the concept (...) of corporate character follows from, but is a novel development of, MacIntyre’s schema. The paper contrasts corporate character and virtues with the more familiar concepts of corporate culture and values. The constitutive and substantive elements of corporate character, including the essential corporate virtues, are then drawn out and illustrated with reference to the cases explored in Koehn (1998). Finally, the paper acknowledges and counters a specific criticism of this approach. (shrink)

And in this book the distinguished scholar Amartya Sen offers a powerful critique of the theory of social justice that, in its grip on social and political ...

The central question in contemporary ethics is whether virtue can replace duty as the primary notion in ethical theory. The subject of intense contemporary debate in ethical theory, virtue ethics is currently enjoying an increase in interest. This is the first book to focus directly on the subject. It provides a clear, systematic introduction to the area and houses under one cover a collection of the central articles published on the debate over the past decade. The essays encompass a wide (...) range ofaspects: the difference between virtue ethics and traditional duty ethics; present arguments for and against virtue ethics; the practical implications of virtue ethics and the Aristotelian and Kantian attitudes to virtue ethics. (shrink)

The Greek philosopher Aristotle, writing over two thousand years before Wall Street, called people who engaged in activities which did not contribute to society "parasites." In his latest work, renowned scholar Robert C. Solomon asserts that though capitalism may require capital, but it does not require, much less should it be defined by the parasites it inevitably attracts. Capitalism has succeeded not with brute strength or because it has made people rich, but because it has produced responsible citizens and--however unevenly--prosperous (...) communities. It cannot tolerate a conception of business that focuses solely on income and vulgarity while ignoring traditional virtues of responsibility, community, and integrity. Many feel that there is too much lip-service and not enough understanding of the importance of cooperation and integrity in corporate life. This book rejects the myths and metaphors of war-like competition that cloud business thinking and develops an "Aristotelean" theory of business. The author's approach emphasizes several core concepts: the corporation as community, the search for excellence, the importance of integrity and sound judgment, as well as a more cooperative and humane vision of business. Solomon stresses the virtues of honesty, trust, fairness, and compassion in the competitive business world, and confronts the problem of "moral mazes" and what he posits as its solution--moral courage. (shrink)

In this critique, Martha Nussbaum argues that our dominant theories of development have given us policies that ignore our most basic human needs for dignity and self-respect.

Larmore aims to recover three forms of moral complexity that have often been neglected by moral and political philosophers. First, he argues that virtue is not simply the conscientious adherence to principle. Rather, the exercise of virtue apply. He argues - and this is the second pattern of complexity - that recognizing the value of constitutive ties with shared forms of life does not undermine the liberal ideal of political neutrality toward differing ideals of the good life. Finally Larmore agrues (...) for what he calls the heterogeneity of morality. Moral thinking need not be exclusively deontological or consequentialist, and we should recognize that the ultimate sources of moral value are diverse. The arguments presented here do not attack the possibility of moral theory. But in addressing some of the central issues of moral and political thinking today thay attempt to restore to that thinking greater flexibility and a necessary sensitivity to our common experience. (shrink)

During the past twenty years, there has been an explosion of new interest in entrepreneurs and their activities. Yet only recently has serious research attention been devoted to the ethical problems encountered by entrepreneurs and their organizations. Entrepreneurs face uniquely complex moral problems related to basic fairness, personnel and customer relationships, distribution dilemmas, and other challenges. This essay surveys contemporary research in entrepreneurial ethics, examines the kinds of ethical dilemmas entrepreneurs confront, identifies major research topics and methodological approaches, and discusses (...) possible directions for future research. (shrink)

In this paper the problematic nature of the morality of management, in particular related to business organisations operating under Anglo-American capitalism, is explored. MacIntyre’s critique of managers in After Virtue serves as the starting point but this critique is itself subjected to analysis leading to a more balanced and contemporary view of the morality of management than MacIntyre provides. Paradoxically perhaps, MacIntyre’s own virtues-goods-practice-institution schema is shown to provide a way of re-imagining business organisations and management and thereby holds out (...) the possibility of resolving the issue of the morality of management within such organisations. Implications for management practice are drawn out. (shrink)

The paper begins by exploring whether a “tendency to avarice” exists in most capitalist business organisations. It concludes that it does and that this is problematic. The problem centres on the potential threat to the integrity of human character and the disablement of community.What, then, can be done about it? Building on previous work (Moore, 2002) in which MacIntyre’s notions of practice and institution were explored (MacIntyre, 1985), the paper offers a philosophically based argument in favour of the rediscovery of (...) craftsmanship by those who work in business organisations, and the exercise of craftsmanship in community.The practical implications for individuals of this way of conceptualising business, and the virtues which must then come to the fore, are discussed. (shrink)

After exploring MacIntyre’s (1985) practice—institution distinction, the article demonstrates its applicability to business-as-practice and to corporations as institutions. It then considers the implications of MacIntyre’s schema to ethical schizophrenia, to the claim that themarket is a source of the virtues and to the opposite claim that capitalism corrodes character. A fully worked out modern virtue ethics, based on MacIntyre’s work, is then established and the claim is made and substantiated that such an understanding of MacIntrye’s work revitalises it and makes (...) it directly applicable to business and to corporations. (shrink)

In this paper, we review two seemingly unrelated debates. In business ethics, the argument is about values: are they universal or emergent? In entrepreneurship, it is about opportunities – are they discovered or constructed? In reality, these debates are similar as they both overlook contingency. We draw insight from pragmatism to define contingency as possibility without necessity. We analyze real-life narratives and show how entrepreneurship and ethics emerge from our discussion as parallel streams of thought.

Business ethics, as a discipline, appears to be at a crossroads. Down one avenue lies more of the same: mostly philosophers takingwhat they know of ethics and ethical theory and applying it to business. There is a long tradition of scholars working in the area known as “business and society” or “social issues in management.” Most of these scholars are trained as social scientists and teach in business schools. Their raison d’etre has been admirable: trying to get executives and students (...) of business to understand the social impacts of business and to see business in broad, societal terms. (shrink)

If social scientists take natural science as a model, they may err in their predictions and may offer facile ethical views. Maclntyre assails them for this, but he is unduly pessimistic about business, and in rejecting the separation thesis he raises some difficulties about naturalism.Aristotle's views of the good life and of the close relationship between internal and external goods provide a corrective to Maclntyre, and in fact suggest how virtues can support social capital and thus prevail within and among (...) firms in competitive markets. Aristotle's views are not necessarily inimical to those underlying modern democratic capitalism, but they raise questions about the limits to the good life. The separation thesis misses the importance of addressing the questions with both empirical and ethical resources. (shrink)

THIS ESSAY will examine the connection between the subjectivity of man as a person and the structure of the human community. That relationship was tentatively explored in The Acting Person, especially in the chapter entitled "Participation." The present study is an attempt to develop insights initially introduced there.

This paper begins by summarizing and distilling Macintyre's sweeping critique of modern business. It identifies the crux of Macintyre's critique as centering on the fundamental Aristotelian concepts of internal goods and practices. Maclntyre essentially follows Aristotle in arguing that by privileging external goods over internal goods, business activity -and certainly modern capitalistic business activity -corrupts practices. Thus, from the perspective of virtue ethics, business is morally indefensible. The paper continues with an evaluation of Macintyre's arguments. The conclusion is drawn that (...) Macintyre's critique, although partially valid, does not vitiate modern business as he claims. In short, modern business need not of necessity be antithetical to individuals' pursuit of internal goods within practices. (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)

The Encyclical-Letter Caritas in Ventate by Pope Benedict XVI suggests to advance towards a new conceptualization of the tenuous relationship between economics and ethics, proposing a "new humanistic synthesis" Where social encyclicals have traditionally justified policy proposals by natural law and theological reasoning alone, Caritas in Ventate gives great relevance to economic arguments. The encyclical defines the framework for a new business ethics which appreciates allocative and distributive efficiency, and thus both markets and institutions as improving the human condition, but (...) locates their source and reason outside the economic sphere. It places a clear accent on the ontological connectedness of the economic and ethical dimensions of human action. It is the proper ordering of means towards the end of integral human development that allows mankind to leave a vicious circle of consumerism and enter a virtuous circle that applies the creativity fostered by markets. This vision implies a new model of business management that integrates considerations of vocation, purpose, and values at a theological level. (shrink)

A serious attempt to integrate ethics in management was done by Professor Juan Antonio Pérez López (1934–1996). His thought represents a break with current scholarly thinking on these subjects. The purpose of this article is to explain some of the most significant aspects of his theories, relating basically to his recourse to ethics as what defines the characteristic behavior of human beings, considered as individuals and as members of organizations. Pérez López used the anthropological conception underlying the ethics of Aristotle (...) and Thomas Aquinas to build a solid base for that ethics, starting from the decision-making process. He then used that ethical base to point to the kind of action theory and organization theory that could most effectively assist the human development of people and organizations. (shrink)

What is the purpose of our economic system? What would a more life-serving economy look like? There are many books about business and society, yet very few of them question the primacy of GDP growth, profit maximization and individual utility maximization. Even developments with a humanistic touch like stakeholder participation, corporate social responsibility or corporate philanthropy serve the same goal: to foster long-term growth and profitability. Humanism in Business questions these assumptions and investigates the possibility of creating a human-centered, value-oriented (...) society based on humanistic principles. An international team of academics and practitioners present philosophical, spiritual, economic, psychological and organizational arguments that show how humanism can be used to understand, and possibly transform, business at three different levels: the systems level, the organizational level and the individual level. This groundbreaking book will be of interest to academics, practitioners and policymakers concerned with business ethics and the relationship between business and society. (shrink)

The defence of the market and economic freedom have been the main objectives of the investigations by liberal thinkers such as Milton Friedman, Gary Becker, F Hayek and L Von Mises. Bearing in mind that the first two economists are the maximum exponents of the Chicago School and the last two of the Austrian School, it is often concluded that the theories of both schools are similar. This book demonstrates that in reality, there is no convergence or complementariness to be (...) found between both schools of thought. The anthropological categories, contributed by Mises, allow us to understand all human phenomena from the view of the man who acts. In this view, economics is part of a philosophical system whose core is the creative capacity of people. Becker’s work, on the other hand, is concentrated on the generalization of the _homo economicus_ as the basis for explaining all human behaviour. He generalizes the maximizing principle to explain all human reality, and extends the scope of the application of a so-called scientific and technical view of the world. In this key volume, an important read for those in the fields of economic theory and political economy, Javier Aranzadi argues, in essence, that the tradition of Hayek and Mises encourages a humanistic liberalism, whereas the Chicago School proposes only a technical humanism. (shrink)

The aim of this article is to present the dynamics of the structure of human action to enable us to link the organizational level of institutions, norms, and culture of the firm. At the organizational level, the existing institutions and culture are the confines of our individual action. However, at the individual level, we focus on the external consequences of our acts. It is our acts that maintain social institutions and culture. The ethics of personal virtues demands an ethics of (...) institutions, the ethics which deals with the institutional means of realizing individual ends. All individuals choose courses of action by deciding what type of life is worth living. In this view, virtue (arete) occupies a central position, defining the paradigm that each society with its institutions and norms sets as the model of life to be lived (eudiamonia). (shrink)