This essay discusses the place of business principles and of moral sentiments in economic success, and examines the role of cultures in influencing norms of business behavior. Two presumptions held in standard economic analysis are disputed: the rudimentary nature of business principles (essentially restricted, directly or indirectly, to profit maximization), and the allegedly narrow reach of moral sentiments (often treated to be irrelevant to business and economics). In contrast, the author argues for the need (...) to recognize the complex structure of business principles and the extensive reach of moral sentiments by using theoretical considerations, a thorough analysis of Adam Smith’s work, and a careful interpretation of Japan’s remarkable economic success. Referring to the economic corruption in Italy and the “grabbing culture” in Russia, he further shows how deeply the presence or absence of particular features of business ethics can influence the operation of the economy, and even the nature of the society and itspolitics. Being an Indian himself, he warns against grand generalizations like the superiority of “Asian values” over traditional Western morals. To conclude, it is diversity—over space, over time, and between groups —that makes the study of business principles and moral sentiments a rich source of understanding and explanation. (shrink)

The relationship between Employer and Employees is a central one in the world of business. While an important relationship, it is one that is often a source of tension for the workplace. Employers are seemingly in constant mistrust of workers, while workers often look upon their bosses as "less than competent". In the American world of business today, should this "adversarial" relationship continue or should the Employer–Employee Relationship be governed by different rules. Immanuel Kant's Categorical Imperative offers some (...) insights into the way this relationship should be viewed. Also, the philosopher Alfred North Whitehead has some important points to add to the discussion of this crucial business relationship. A look at the case involving Malden Mills Textile Plant and its CEO Aaron Feuerstein will be used to launch this discussion. (shrink)

Unique in both perspective and approach, this is the first book to use classical American pragmatism as an ethical framework for dealing with ethical issues in business. The book first explores ethical theory from both the traditional and pragmatic perspectives. Then, using the pragmatic perspective, discusses the nature of the corporation and its relationship to society, the various environments in which business functions, and specific issues in the contemporary marketplace and workplace.

London shows that principled leadership and business diplomacy not only provide direction for management, but they also enhance development of leadership in ...

Business Ethics is designed to serve as a textbook for first year students of MBA and diploma students of management courses. The book provides a deep insight into the crucial role played by ethical choices in managerial decision making within an organization as well as the impact of such decisions on the world at large. Starting with a broad overview of the meaning and scope of ethics and the development of ethical thought, the book puts forward the applications of (...) ethical standards to business areas such as corporate governance, marketing and brand management, advertising, and finance. The discussion shifts to a more human level with the various issues of workplace ethics as well as consumer rights. Special focus is given to ethical choices related to the environment, cyber space and criminal intimidation. Contemporary issues like corporate code of ethics, political correctness and the role played by NPO and NGO in upholding moral values are discussed in detail. Finally, several open-ended issues like Intellectual Property. The book follows a debate-based approach where both for and against views are presented, followed by concept analysis and logical deductions. This approach is well aided with a number of caselets, case studies and end chapter review questions. This book will also serve as a useful reference for BBA faculty and professionals. (shrink)

Four leadership styles are discussed: authoritarian, paternalistic, all?knowing, and manipulative. The drawbacks of each style are shown: they are hierarchical, with centralized structure and process, poorly adapted to contemporary society and the environment of business. In their place Principle?Oriented Leadership is suggested, at the same time effective and ethical, hallmarked by a search for values associated with unity, service, consultation, trustworthiness, and justice.

In this article the validity of transferring the Principle of Double Effect from the just war tradition to the domain of business is critically reviewed. If a case can be built for sufficient analogies between war and business, the principle of double effect can legitimately be transferred from war to business. If, on the other hand it can be shown that there are aspects in which business differs substantially from just war, then the transfer to (...) class='Hi'>business of a principle developed within the context of war becomes more problematic. After exploring the nature of arguments of analogy and fallacious arguments of weak analogy some important disanalogies between war and business are highlighted. Given these disanalogies it is then contended that the just war background of the Principle of Double Effect had some bearing on both the content and manner of application of the Principle of Double Effect. Finally it is argued that these disanalogies require some revisions to the Principle of Double Effect with regard to both its content and its manner of application before it can be applied meaningfully to foreseeable negative side-effects of business. S. Afr. J. Philos. Vol.22(3) 2003: 236–246. (shrink)

Theories of business ethics or corporate responsibility tend to focus on justifying obligations that go above and beyond what is required by law. This article examines the curious fact that most business ethics scholars use concepts, principles, and normative methods for identifying and justifying these beyond-compliance obligations that are very different from the ones that are used to set the levels of regulations themselves. Its modest proposal—a plea for a research agenda, really—is that we could reduce this (...) normative asymmetry by borrowing from the normative framework of “regulation” to identify and justify an important range of beyond-compliance obligations. In short, we might think of “self-regulation” as a language and a normative framework with some distinct advantages over other frameworks like stakeholder theory, corporate social responsibility, corporate citizenship, and the like. These other frameworks have been under attack in the business ethics literature of late, primarily for their vagueness and their disappointing inability to distinguish clearly between genuine beyond-compliance moral obligations, on the one hand, and charitable acts that are laudable but not morally obligatory, on the other. (shrink)

One major theme in Pope Benedict XVI’s encyclical Caritas in Veritate is the “Principle of Gratuitousness.” The point of this essay is to begin a reflection on what it actually means and its possible relevance. By comparing the “Principle of Gratuitousness” and its normative assumptions about “the logic of gift” with anthropological studies focused on the same phenomenon, I hope to show, not only the relevance of the encyclical’s normative vision but also where and how it needs further clarification. The (...) findings of empirical anthropology provide qualified support for the encyclical’s focus on generating and replenishing “social capital” in order to sustain both markets and politics in an effort to “civilize the economy.” In order to put the “Principle of Gratuitousness” into more effective practice, the encyclical highlights the creative role of “civil society” and calls for the creation social enterprises whose goals are broader and deeper than maximizing profits. Assessing the realism of Benedict’s proposal will require further research and reflection on innovative entrepreneurial ventures designed to address social problems on a commercial basis, for example, Muhammad Yunus’ concept of a “social business” and its development in a series of joint business ventures involving the Grameen Bank and related organizations. (shrink)

Business ethics is usually taught either from a philosophical perspective that derives guiding normative principles from abstract theories of philosophical ethics or from an atheoretical perspective that has students analyze cases that present difficult ethical issues and propose solutions on a casuistic basis. This article proposes a third approach—the Principles Approach—that derives guiding normative principles teleologically from the nature of market activity itself. The articledemonstrates how the Principles Approach can meet the four main challenges facing (...) those who teach ethics in business schools—the challenges of definition, abstract, cultural relativism, and integration. (shrink)

What would happen if you made your business decisions by the book? By the Bible that is. This updated version of the best-selling Business by the Book offers radical principles of business management that go beyond the Ten Commandments and other biblical maxims. Business by the Book is a step-by-step presentation of how businesses should be run according to the Creator of all management rules: God. Larry Burkett, founder and president of Christian Financial Concepts, provides (...) business principles from his own experience as well as what God’s Word says on topics such as: Hiring and Firing Decisions Pay Increases and Promotions Management Selection Employee Pay Decisions Borrowing and/or Lending Decisions Forming Corporations and Partnerships Business Tithing Retirement Whether you are the owner of a business, a corporate executive, or a manager, this best-selling classic is for you. (shrink)

After the terrorist attacks of September 11, 2001, most legacy airlines filed for bankruptcy protection as a way to cut costs drastically, with the exception of American Airlines. This article applies the Principle of Double-Effect to the act of filing for Chapter 11 bankruptcy protection for reasons of management strategy, in particular, cost-cutting. It argues that the Principle can be a useful tool for discerning the ethicality of the action, and demonstrates the usefulness by proposing three double-effect criteria that, when (...) fulfilled, argues for the ethical justifiability the action in question. (shrink)

Since the UN Guiding Principles on Business and Human Rights were adopted by the UN Human Rights Council in 2011, they have diffused into policy frameworks, laws, and regulations across the globe. This special issue seeks to advance the interdisciplinary field of human rights research by examining key elements of the emerging transnational regime for the regulation of business and human rights. In seven original contributions, scholars from political science, law, accounting, and philosophy critically reflect on the (...) theoretical foundations of the UNGPs, they analyze the effectiveness of implementation mechanisms and current regulatory practice, and they advance proposals for the future development of the business and human rights regime. In this introduction, we prepare the ground for these analyses, proceeding in three steps. Firstly, we argue that the adoption of the UNGPs has triggered a norm cascade which requires a distinctive, empirically oriented research agenda focusing on the scope, governance, and effectiveness of corporate human rights accountability norms and instruments. Secondly, we explain how the articles in this special issue contribute to that research agenda by addressing these themes. Thirdly, we provide an overview of the individual contributions and point out avenues for future research. (shrink)

This discussion develops six of the most important guiding principles of classical Jewish business ethics and illustrates their application to a complex recent case of product liability. These principles are: (1) the legitimacy of business activity and profit; (2) the divine origin and ordination of wealth (and hence the limits and obligations of human ownership); (3) the preeminent position in decision making given to the protection and preservation (sanctity) of human life; (4) the protection of consumers (...) from commercial harm; (5) the avoidance of fraud and misrepresentation in sales transactions; and (6) the moral requirement to go beyond the letter of the law. Although these Talmudic principles are clearly obligatory only for “Torah-obedient” Orthodox and Hasidic Jews, many Jews share a sensibility informed by them. Non-Jews, too, may be instructed by Jewish teachings about business ethics. (shrink)

Constructive engagement in international business practice is defined as purpose-driven behavior in which economic contributions by the foreign investor also advance social progress in the host country. This paper distinguishes between amoral and moral social agency, and proposes a model of principled constructive engagement that describes a principled constructive engagement regime enacted in a disciplined, morally-directed manner.

In this article I argue the relevance of natural law for framing and addressing ethical issues raised by the practice of business in a global context. There are historical, as well as systematic reasons for this. On the historical side, it can be argued that the origin of modern economics is linked to a cultural context, still influenced by modern natural law theories. Thus, even if Hume’s moral theory is everything but a natural law theory, either in the traditional (...) or the modern sense, his “laws of nature” (fixation of property, rules for its transference, and promises) represent a systematization of the rules of justice necessary to preserve the space of economic freedom required for development of a commercial society. This systematization is in line with the classical approach to natural law, which nevertheless presents further advantages for developing an ethical approach to economic activity, since it brings with itself a conception of economic agency richer than that of Hume: a conception that is not necessarily linked to pursuit self-interest, but rather is inspired by ethical motives right from the start. Indeed, on the systematic side, the classical natural law is seen as the law of practical reason: a set of principles in charge of inspiring both virtuous action and legal practice, so that we can realize the human good. Assuming the embodied and social nature of human beings, as well as the various cultural realizations of humanity, a natural law approach to ethics is in a position to stimulate a dynamic and bottomup articulation of the personal and common good, concern for progress and sustainable development, universal principles and cultural variations. (shrink)

A remarkable turnaround by a leader with a remarkable philosophy: Find your noble purpose. Put people at the center. Unleash human magic. "It was Fall in Minnesota. It was getting cold and we were supposed to die." This is how Hubert Joly describes the early, dark days as CEO of Best Buy, a job most thought he was crazy to accept. Amazon was tearing a disruptive path through retail, but in the face of that existential threat Joly did something remarkable: (...) he saved Best Buy and remade it into a thriving company rated as one of the most desirable businesses to work for. Having recently stepped down as Chairman and CEO, Joly is ready to share the leadership principles that underpinned the resurgence of Best Buy and that he believes are at the heart of business: pursue a noble purpose, put people at the center, unleash human magic, and treat profit as an outcome. There was a time when many would call this a soft philosophy. But times are changing. Best Buy and 180 other companies signed the momentous Business Roundtable statement in support of stakeholder capitalism. The Covid-19 pandemic further pushed many businesses to lead from a place of purpose and with humanity. The changes underway are not a revolt, but a revolution. And Joly provides concrete advice on how to implement principles that can serve as beacons for the next era of capitalism. Joly himself was transformed from a hard-charging, deeply analytical McKinsey consultant to a leader who believes in what he calls human magic. He will share how so much of what he initially learned about management is either dated, incomplete, or simply wrong-including how to turn around a business, develop and implement a strategy, mobilize an organization, and what it takes to be a great leader. The leadership principles Joly lays out worked at Best Buy. They can also contribute to the necessary re-foundation of business and capitalism around purpose and humanity. (shrink)

Retail corporations orchestrate much of what happens in today’s food supply chains. From setting sky-high cosmetic standards for fresh produce to bundling off close-to-expiry products at discounted prices, retail’s contribution to food waste often extends beyond its in-store numbers. By occupying a powerful position in a globalised food system, these corporations enable chronic overproduction and consequently, the removal of surplus food from supply chains. This, in turn, contributes to the unfair distribution and overexploitation of food resources, further exacerbating the globally (...) pervasive problem of food insecurity. To realise the right to food and the United Nations’ Sustainable Development Goal of halving global per capita food waste by 2030, we argue that retail corporations must be held accountable for their direct and indirect contribution to food waste. We posit that to make a tangible difference, they must move away from the current voluntary corporate social responsibility approach to food waste reduction and instead invest in robust due diligence mechanisms and transparent reporting systems in line with the UN Guiding Principles on Business and Human Rights and the upcoming EU Corporate Sustainability Due Diligence Directive. Based on Pillar II of the Guiding Principles, we propose a five-step approach to accountability for food waste that may lead to serious actions towards the relaxation of cosmetic standards, abolition of unfair trading practices, and improvement in demand forecasting, thereby reducing the volume of food that ends up as waste. (shrink)

This article presents the ethical concept of service as a way of specifying higher ethical principles in business practice. We set out from the work of a number of scholars who have found some shared ethical principles for doing business in a context of cultural diversity. Love, benevolence, consideration, and other related concepts are considered to be important guiding concepts for business but it is not clear how they are to be operationalized. We argue that (...) the ethical concept of service can act as a bridge for bringing those higher principles into business practice. The article explains and refines the ethical concept of service, which has received little attention. In particular, we address the ethical ambiguity implicit in the common meaning of service, explain how service shows love in business, and offer an account of how service provides ethical growth through virtue. Finally, this work presents a variety of examples from business which illustrate how the ethical concept of service can be put into practice. To achieve the aim of this study we draw inspiration from Catholic social teaching. This source provides useful insights into service and can be understood and accepted without requiring that particular faith. (shrink)

Some virtue ethicists are reluctant to consider principles and standards in business ethics. However, this is problematic. This paper argues that realistic Personalism can be integrated into virtue-based business ethics, giving it a more complete base. More specifically, two principles are proposed: the Personalist Principle (PP) and the Common Good Principle (CGP). The PP includes the Golden Rule and makes explicit the duty of respect, benevolence, and care for people, emphasizing human dignity and the innate rights (...) of every human being. The CGP entails cooperation to promote conditions which enhance the opportunity for the human flourishing of all people within a community. Both principles have practical implications for business ethics. (shrink)

The role of the business leader is key to develop the culture of an enterprise. To exemplify its importance in the national and globalcontext, the Muslim author from Indonesia points with admiration to Konosuke Matsushita, founder of Matsushita Electric Corporation, who already in the 1930s set up the seven ethical principles for healthy business growth, which also are commended by the Islamic imperative. Due to the current dynamic business environment, Muslims find themselves confronted with serious dilemmas (...) and need guidance from a clearly developed Islamic business ethics. For this purpose the author offers, first, the essentials of such an ethics: the utmost importance of all sort of productive work and the distribution of wealth in society; the vocation of trade; the fundamental principles of freedom and justice for business conduct; the prescription of certain manners such as leniency, service-motive, and consciousness of Allah; and mutual consultation. He, then, presents his personal view on leadership in business. It involves three basic ingredients: an inspiring vision of high and achievable standards; a value system based on the principles of freedom and justice and promoting fairness, business integrity, and efficiency; and courage to face tough decisions while putting one’s complete trust in Allah. (shrink)

The ‘Guiding Principles on Business and Human Rights’ (Principles) that provide guidance for the implementation of the United Nations’ ‘Protect, Respect and Remedy’ framework (Framework) will probably succeed in making human rights matters more customary in corporate management procedures. They are likely to contribute to higher levels of accountability and awareness within corporations in respect of the negative impact of business activities on human rights. However, we identify tensions between the idea that the respect of human (...) rights is a perfect moral duty for corporations and the Principle’s ‘human rights due diligence’ requirement. We argue that the effectiveness of the ‘human rights due diligence’ is in many respects dependent upon the moral commitment of corporations. The Principles leave room for an instrumental or strategic implementation of due diligence, which in some cases could result in a depreciation of the fundamental norms they seek to promote. We reveal some limits of pragmatic approaches to coping with business-related human rights abuses. As these limits become more apparent, not only does the case for further progress in international and extraterritorial human rights law become more compelling, but so too does the argument for a more forceful discussion on the moral foundations of human rights duties for corporations. (shrink)

"Business Ethics and Values" introduces students to the complexities and principles of ethical issues by focusing on developing ethical awareness and the ability to argue business ethics matters. A proven resource, the second edition of this text continues to present a successful blend of concrete issues and academic theory, suitable for undergraduate and postgraduate students with or without practical experience of the world of organisations. It gives as much importance to individual conscience at work as it does (...) to socially responsible behaviour at the corporate level and within the global business world. Hallmark features: Broad coverage of the many issues in this subject ensures that students see the whole picture. The use of real-world case studies and simulations helps to stimulate debate and appreciate the multi-faceted aspects of ethical arguments. New to this edition: New material on the ethics of e-communication, sustainability and the ethical impact of globalisation ensures that students are learning from the most up-to-date material available. Further analysis of Anglo-American approaches to corporate governance and their ethical underpinnings. Short test and assignment questions at the end of each chapter help students to consolidate their learning. More simulation exercises and activities give students the opportunity to reflect on their attitudes to this engaging subject. A well-developed supplements package to support tutors and students includes an instructor's manual, PowerPoint slides and a companion website. Colin Fisher is Professorof Managerial Ethics and Values, Nottingham Business School, Nottingham Trent University. Alan Lovell is Professor of Organisational Accountability and Head of the Department of Accounting, Finance & Economics, Nottingham Business School, Nottingham Trent University. (shrink)

ABSTRACT:Does effective moral judgment in business ethics rely upon the identification of a suitable set of moral principles? We address this question by examining a number of criticisms of the role that principles can play in moral judgment. Critics claim that reliance on principles requires moral agents to abstract themselves from actual circumstances, relationships and personal commitments in answering moral questions. This is said to enforce an artificial uniformity in moral judgment. We challenge these critics by (...) developing an account of principle-based moral judgment that has been widely discussed by contemporary Kantian scholars. In so doing we respond to some basic problems raised by so-called “moral particularists” who voice theoretical objections to the role of principles as well as to contemporary business ethicists who have criticized principle-based moral judgment along similar lines. We conclude with some future areas of research. (shrink)

Business Ethics for Future Leaders presents students with contemporary readings in the discipline that highlight the changing dynamics of ethics in today's business world and challenge readers to transcend the traditional leadership mindset. In Section I, students read articles that address how ethical behavior can contribute to organizational success, why individuals view ethical behavior differently, and how leaders can incorporate ethical principles into their decision making. Section II focuses on ethical challenges in the multigenerational workplace. In Sections (...) III and IV, students learn about the ideal mindset for ethical leaders and ethical challenges related to cyber security and the internet. Additional sections discuss the ethics of business decision making, sustainable environmental management, and ethical climate and safety performance. The final section speaks to ethical public affairs, issues, and crisis management. Featuring highly accessible readings, Business Ethics for Future Leaders is an ideal supplemental textbook for courses in business and leadership. (shrink)

From a certain philosophical perspective, one that is at least as old as Plato but which is addressed also by Aristotle and Kant, business ethics – to the extent that it is marketed as form of enlightened self-interest — constitutes a Thrasymachean compromise: to argue that it is to our advantage to conduct business ethically, perhaps even advantageous to the bottom-line, comes curiously close to endorsing what Plato called the 'shadow of virtue' — i.e., of becoming temperate for (...) the sake of illtemperance. And yet it also seems true that moralistic campaigns to achieve the impossible, e.g., pursuing justice for its own sake or eradicating egoism, often "detract from attaining really important things." This essay explores the need, in business ethics as well as elsewhere, to make — what Dewey and Niebuhr considered to be — painful if not principled philosophical compromises in order to secure is a society in which there would be "enough justice to avoid complete disaster.". (shrink)

In this article I maintain the importance of the Aristotelian concept of prudence or phronesis applied to business ethics, distinguishing its meaning from Solomon and Hartman’s approaches to Aristotelian business ethics. Whereas Solomon stresses the value of perception of particulars and Hartman criticizes the incapacity of Aristotelian phronesis to dwell with the interests of others, I advocate that Aristotelian virtue ethics is important because the concept of phronesis does three things: (a) stresses the rational calculation and general (...) class='Hi'>principles or rules in virtue ethics, in general, and business ethics, in particular; (b) provides a communal-based ethics principle; and c) offers us a clear comprehension about what calculation or reasoning is in ethics. (shrink)

Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and market levels. (...) This unique work features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts. The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers. (shrink)

Collingwood’s aim in The Principles of Art is “to answer the question: What is art?” (p. 1) The answer Collingwood offers to that question, that art is the expression of emotion, has become notorious for its implausibility. I consider one objection against this theory, namely that it is unclear what is rendered art by this definition: for it sometimes appears to define art too broadly, containing all utterances and gestures; but at other times to define art too narrowly, excluding (...) much of what we intuitively consider art. -/- I argue that this objection is mistaken, because it is founded upon a misunderstanding of the sort of project in which Collingwood is engaged. I propose a new reading, via his philosophical methodology, under which ‘art’ is differentially rather than binarily realisable. According to this new reading, art is something found in every human experience or activity, but to a greater or lesser extent. I close by suggesting one reason why Collingwood’s project under this reading is more philosophically interesting than it is under the standard reading, namely that it can give a better account of borderline cases of art. (shrink)

Abstract:The purpose of this paper is to present an understanding of business ethics based on a theory of internal social criticism. Internal social criticism focuses on how members of a business organization debate the meanings of their shared traditions for the purpose of locating and correcting hypocrisy. Organizations have thick moral cultures that allow them to be self-governing moral communities. By considering organizations as interpretive moral communities, I challenge the conventional notion that moral criticism is based primarily on (...) exogenous moral principles delivered by outside critics. I describe an interpretive process of business ethics and develop a theoretical model of internal social criticism. I also propose that organizational identification serves as a mechanism for inducing ethical behavior. I conclude by calling for more research that understands the development and use of existing moral principles inside of organizations. (shrink)

After the UN Guiding Principles on Business and Human Rights were adopted in 2011, an international treaty has been being negotiated since 2014. The two instruments reveal similarities and also conflicts regarding the adequate organization of the global economy based on human rights. The focus in this article will be on the processes leading to these instruments, because they themselves mirror different understandings of governance in the field of business and human rights as well as the struggle (...) over the power of definition and legitimacy. The UNGPs were developed on the basis of global multi-stakeholder consultations, underlining legitimacy through broad inclusion. There are varying judgements as to the success of this approach. The process towards the treaty follows the traditional path of negotiations at UN level. These negotiations reveal a struggle for recognition of the legitimacy of the process itself. Both procedures have shortcomings with regard to legitimacy and show the need for a revision concerning the inclusion of stakeholders. The complementarity of a soft and hard law instrument may enhance the creation of a level playing field in the global economy, thereby strengthening human rights. (shrink)

As the world is getting increasingly connected and interdependent it becomes clear that the world’s most pressing public problems such as poverty or global warming call for cross-sector solutions. The paper discusses the idea of business leaders acting as agents of world benefit, taking an active co-responsibility in generating solutions to problems. It argues that we need responsible global leaders who are aware of the pressing problems in the world, care for the needs of others, aspire to make this (...) world a better place, and act in word and deed as global and responsible citizens. The argument is structured as follows: first, in highlighting some leadership challenges we discuss why it takes a responsible, global, and ultimately cosmopolitan mindset to enhance human values on a global scale. Second, we define more specifically responsible global leadership and the (potential) role of business leaders acting as agents of world benefit. Third, drawing on latest research on cosmopolitanism, we discuss the hallmarks of contemporary cosmopolitanism. Fourth, and concluding our argument, we propose key cosmopolitan business principles to help leaders build a more inclusive world. (shrink)

ABSTRACT:The purpose of this paper is to formulate and defend a set of moral principles applicable to management. Our motivation is twofold: 1) to increase the coherence and utility of Integrative Social Contracts Theory (ISCT); and 2) to initiate an alternative stream of business ethics research. To those ends, we specify what counts as adequate guidance in navigating the ethical terrain of business. In doing so, a key element of ISCT, Substantive Hypernorms, is found to be flawed (...) beyond repair. So we propose and defend a remedy:prima faciemoral principles. After delineating the appropriate criteria and format for such principles, we formulate, explain, and defend five of them. We conclude with a brief comment on future research possibilities. (shrink)

I describe an ethic for business administration based on the social tradition of the Catholic Church. I find that much current thinking about business falters for its conceit of truth. Abstractions such as the shareholder-value model contain truth - namely, that business is an economic enterprise to manage for the wealth of its owners. But, as in all abstractions, this truth comes at the expense of falsehood -namely, that persons are assets to deploy on behalf of owners. (...) This last is "wrong" in both senses of the word - it is factually wrong in that persons are far more than business assets, they are supernatural beings, children of God; and it is morally wrong in that it is an injustice to treat them as the former when they are the latter. I draw upon the social tradition of the Catholic Church to recognize that the business of business is not business, but is instead the human person. Following Church teachings, I describe a person-centered ethic of business based upon eight social principles that both correct and enlarge the shareholder-centered ethic of much current business thinking. I discuss implications of this person-centered ethic for business administration. (shrink)

The book is the most original and comprehensive treatment of business ethics in Islam. It explores the thinking of early Islamic scholars on ethics, whilst encompassing the modern developments in the field. It is aimed at fostering discourse on business ethics by offering a framework for exploring a wide range of ethical issues and dilemmas that arise in the marketplace and raising ethical awareness and sensitivity of various market and non-market players. The book enables researchers to use Islamic (...) ethical principles in advancing research and offers practical solutions to rising ethical problems. Furthermore, the book enables business people and policymakers to acquire the requisite outlook and understanding for the application of business ethics and guides readers to draw useful implications. (shrink)

This study aims at discussing Global Business Citizenship Experiments (GBCE) as adaptation and selection mechanisms in organizations. GBCE are processes used by companies operating abroad to deal with discrepancies between their own principles and values and local norms, or the lack of them. I argue that these processes lead to adaptation of the individual companies to their environment, and to the evolution of organizational forms in the population.

This book addresses Muslim business community members who have to deal with ethical situations on a day-to-day basis. It gives key principles of management from an Islamic point of view. Its goal is to help Muslims engaged in business to act in accordance with the Islamic system of ethics. The writer’s experience with different Islamic activities give him a practical background that supports and enlightens his academic knowledge in the vital fields of business management and administration.

This paper argues that business can be helpfully conceived of as a mediating institution. Drawing upon neo-conservative theology, the author argues that mediating institutions serve a vital function in a free society to provide social justice out of an expanded civil society and provide a framework for a flourishing free market. Such institutions also nourish the attitudinal orientation of solidarity in applying the principle of subsidiarity by which self-interest becomes fulfilled through concern for others.The author further argues that businesses (...) also be conceived of as mediating institutions and thereby be held to criteria of meeting associationalneeds. In addition to normative reasons for revising the social contract so that businesses do serve the role of mediating institutions, contemporary management theories demonstrate that businesses can also meet their social obligations of creating wealth while meeting associational needs. (shrink)