In recent years there has been an increased interest in the application of Aristotelian virtue to business ethics. The objective of this paper is to describe the moral and intellectual virtues defined by Aristotle and the types of pedagogy that might be used to integrate virtue ethics into the business curriculum. Virtues are acquired human qualities, the excellences of character, which enable a person to achieve the good life. In business, the virtues facilitate successful cooperation and enable the community to (...) achieve its collective goals. The cultivation of virtue in students requires imparting knowledge about virtue and training students to be virtuous. A variety of instructional techniques are discussed including using case studies, collaborative and cooperative learning, role-playing, and video presentations. Business educators should emphasize to students that virtue considerations apply both to possible actions they may take and to themselves as moral agents. Since faculty may be viewed as role models, it is especially important that they set proper standards of behavior for students to emulate. (shrink)

This article surveys arguments for the claim that employees have a right to strong forms of decision-making participation. Itconsiders objections to employee participation based on shareholders' property rights and it claims that those objections are flawed. In particular, it argues the employee participation rights are grounded on the same values as are property rights. The articlesuggests that the conflict between these two competing rights claims is best resolved by limiting the scope of corporate property rightsand by recognizing a strong employee (...) right to co-determine corporate decisions. (shrink)

Can we achieve greater fairness by reforming the corporation? Some recent progressive critics of the corporation arguethat we can achieve greater social justice both inside and outside the corporation by simply rewriting or reinterpreting corporate rulesto favor non-stockholders over stockholders. But the progressive program for reforming the corporation rests on a critical assumption,which I challenge in this essay, namely that the rules of the corporation matter, so that changing them can effect a lasting redistribution of wealth from stockholders to non-stockholders. (...) This essay uses a critique of the progressive reform program to argue that the rules ofthe corporation are distributively neutral. The corporation isn't rigged against non-stockholders, and changing its rules will not improve the bargaining power of non-stockholders. However, while the rules may be epiphenomenal from the standpoint of distributive justice, they can have substantial impacts on the corporation's efficiency. As a result, the proposed reforms may hurt the corporation's capacity to generate benefits for all the parties concerned. (shrink)

It is often argued that multinational companies and other foreign developers have a responsibility to improve the material conditions of the people in whose territories they operate. As a matter of distributive justice it is thought that these companies should be sharing the acquired wealth with these people through the creation of ‘collective goods’ , infrastructure development and compensation disbursements aimed at their benefit. Recently “stakeholder theory” and even legislative changes in the first world have sought to impress on the (...) corporate world the necessity to share the profits with affected “non‐shareholder” groups. Many see these developments as possible advancements for indigenous peoples, indigenous rights and the cause of distributive justice for aboriginal groups. However, it can be shown that the attribution of such ‘imperfect’ duties to corporations results in the generation of excessive costs and of unrealistic expectations on the part of stakeholders. Distributive justice is more efficiently achieved by public sector involvement at the level of policy and project management. (shrink)

It is often argued that multinational companies and other foreign developers have a responsibility to improve the material conditions of the people in whose territories they operate. As a matter of distributive justice it is thought that these companies should be sharing the acquired wealth with these people through the creation of ‘collective goods’ (like schools and aid posts), infrastructure development and compensation disbursements aimed at their benefit. Recently “stakeholder theory” and even legislative changes in the first world (especially in (...) the US) have sought to impress on the corporate world the necessity to share the profits with affected “non‐shareholder” groups. Many see these developments as possible advancements for indigenous peoples, indigenous rights and the cause of distributive justice for aboriginal groups. However, it can be shown that the attribution of such ‘imperfect’ duties to corporations results in the generation of excessive costs and of unrealistic expectations on the part of stakeholders. Distributive justice is more efficiently achieved by public sector involvement at the level of policy and project management. (shrink)

Abstract:There is good reason to take a virtue-based approach to business ethics. Moral principles are fairly useful in assessing actions, but understanding how moral people behave and how they become moral requires reference to virtues, some of which are important in business. We must go beyond virtues and refer to character, of which virtues are components, to grasp the relationship between moral assessment and psychological explanation. Virtues and other character traits are closely related to (in technical terms, they supervene on) (...) personality traits postulated by personality psychologists. They may therefore be featured in respectable psychological explanations. But good character fits no familiar psychological pattern. A person of good character is sufficiently self-aware and rational that his or her virtues are not accompanied by the vices that psychologists find usually associated with them. A course in business ethics can help develop this self-awareness, which a good life in business requires. (shrink)

Ethical problems in business include not only genuine moral dilemmas and compliance problems but also problems arising from the distinctive characteristics of imperfect duties. Collective action by business to perfect imperfect duties can yield significant benefits. Sucharrrangements can (1) reduce temptations to moral laxity, (2) achieve greater efficiency by eliminating redundancies and gaps that plague uncoordinated individual efforts, (3) reap economies of scale and achieve success where benefits can be provided only if a certain threshold of resources can be brought (...) to bear on a social problem; (4) solve assurance problems where voluntary compliance by some parties depends upon their perception that competitors are doing their fair share, and (5) produce higher levels of contribution than would occur through independent action in response to imperfect duties, stimulated by the perception that there is a fair distribution of burdens of contribution among all parties involved. (shrink)

Some years ago Ed Freeman and William Evan wrote an article offering a Kantian stakeholder theory of corporate responsibility. Ed was kind enough to allow Tom Beauchamp and me to publish that previously unpublished piece in the second edition of Ethical Theory and Business. That article has appeared in every subsequent edition. But a Kantian theory of stakeholder relationships is not, I believe, a complete Kantian theory of the modem corporation. I believe Ed originally intended to expand that paper into (...) a larger project but Ed’s philosophical interest in pragmatism has distanced him from Kantianism and his writings in stakeholder theory have gone in a different direction. Indeed in this postmodem feminist anti-foundationalist age, Kant is very much out of fashion. Since I am always out of fashion I had no trouble promising Ed I would complete the Kantian piece of the project. This essay is the condensed version and a partial fulfillment of my promise. A Kantian always keeps his promises. (shrink)

Abstract:This paper offers an extended critique of the proliferation of talk and writing of business ethics in recent years. Following Levinas, it is argued that the ground of ethics lies in our corporeal sensibility to proximate others. Such moral sensibility, however, is readily blunted by a narcissistic preoccupation with self and securing the perception of self in the eyes of powerful others. Drawing upon a Lacanian account of the formation of the subject, and a Foucaultian account of the workings of (...) disciplinary power, it is then argued that the governance of the corporation is effected precisely through encouraging such a narcissistic preoccupation with the self. For the most part our narcissistic concerns are bound to ethically indifferent financial interests. But in recent years they have also been harnessed to the demand for environmental, social and ethical responsibility by the corporation. It is argued, however, that the desire to be seen to be ethical—the ethics of narcissus—is the obverse of “being responsible for.”. (shrink)