Henry Hansmann has claimed we have reached the “end of history” in corporate law, organized around the “widespread normative consensus that corporate managers should act exclusively in the economic interests of shareholders.” In this paper, I examine Hansmann’s own argument in support of this view, in order to draw out its implications for some of the traditional concerns of business ethicists about corporate social responsibility. The centerpiece of Hansmann’s argument is the claim that ownership of the firm is (...) most naturally exercised by the group able to achieve the lowest agency costs, and that homogeneity of interest within the ownership group is the most important factor in achieving lower costs. He defends this claim through a study of cooperatives, attempting to show that homogeneity is the source of the competitive advantage most often enjoyed by shareholders over other constituency groups, such as workers, suppliers and customers, when it comes to exercising control over the firm. Some business ethicists, impressed by this argument, have taken it to be a vindication of Milton Friedman’s claim that profit-maximization is the only “social responsibility” of management. I would like to suggest that this conclusion does not follow, and that the “Hansmann argument” lends itself to a less minimalist view, what I refer to as a “market failures” approach to business ethics. (shrink)

In recent years, many disciplines have become interested in the scientific study of morality. However, a conceptual framework for this work is still lacking. In The Moral Background, Gabriel Abend develops just such a framework and uses it to investigate the history of business ethics in the United States from the 1850s to the 1930s. According to Abend, morality consists of three levels: moral and immoral behavior, or the behavioral level; moral understandings and norms, or the normative (...) level; and the moral background, which includes what moral concepts exist in a society, what moral methods can be used, what reasons can be given, and what objects can be morally evaluated at all. This background underlies the behavioral and normative levels; it supports, facilitates, and enables them. Through this perspective, Abend historically examines the work of numerous business ethicists and organizations--such as Protestant ministers, business associations, and business schools--and identifies two types of moral background. "Standards of Practice" is characterized by its scientific worldview, moral relativism, and emphasis on individuals' actions and decisions. The "Christian Merchant" type is characterized by its Christian worldview, moral objectivism, and conception of a person's life as a unity. The Moral Background offers both an original account of the history of business ethics and a novel framework for understanding and investigating morality in general. (shrink)

The new business opportunities and prospects emerging in Europe within the Common Market and other Western and European countries also raise important ethical challenges. This work comprises a collection of ethical insights to enhance the conduct of business in an evolving Europe.

Typically, case histories are used to illustrate assertions or arguments or to stimulate debate about an issue within business ethics. This volume examines that role, illustrating the link between case histories and more general theoretical approaches to business ethics.

Central Asia presents a unique configuration of historical experience and societal responses that have been interacting and evolving for thousands of years. The current era of economic, political, and societal transformation in Central Asia began with the peaceful devolution of the Soviet Union and transition to the Commonwealth of Independent States in December 1991. Expectations about the natural social order based on western beliefs and experience may not apply in this part of the world, for—like all transitional and emerging market (...) economies—Central Asia has inherited another social order that predates recent history. The field of Business Ethics provides an arena in which these issues can be explored. In this article, an overview of the current standing of Business Ethics as a field for teaching, training, and research in Central Asia is provided. Suggestions for further consideration and future research are presented in the concluding section. (shrink)

efining Documents in American History: Business Ethics offers an in-depth analysis of 67 primary source documents at the foundation of the study of business ethics. These include letters, newspaper accounts, book excerpts, speeches, political debates, testimony, firsthand accounts, memoirs, court rulings, legal texts, legislative acts, excerpts from both fiction and nonfiction books, and dialogues from dramatic works. More and more, the specific ethics policies that have many businesses and corporations developed in the 1970s and (...) 80s are not enough today. Transparency related to sources and materials, pricing strategies, and the public good are crucial for the success of any business. The material in this two-volume reference work is organized into five sections, and each section begins with a brief introduction that defines questions and problems underlying the subjects addressed in the historical documents. These documents provide an overview of business ethics and how it affects all of society, from the heads of corporations in industries like oil, energy, social media, food, and transportation to the workers that produce the goods and services to the consumers of those goods and services. They present a wide array of legal and moral opinions, descriptions of the effects that business ethics can play in the national and global economy, and they take a closer look at the way that business ethics relates to politics. Each historical document is supported by a critical essay, written by historians and teachers, that includes a Summary Overview, Defining Moment, Author Biography, Document Analysis, and Essential Themes. An important feature of each essay is a close reading of the primary source that develops broader themes, such as the author s rhetorical purpose, social or class position, point of view, and other relevant issues. Each essay also includes a Bibliography and Additional Reading section for further research. The detailed document analysis begins with early essays instrumental in the creation and development of the field of business ethics and continues to 2019 by examining issues relevant right now, from harassment and discrimination to technology and privacy. This two-volume set includes in-depth chapters that provide a thorough commentary of significant primary source documents. -- Amazon.com. (shrink)

The name "School of Salamanca" refers to a group of theologians and natural law philosophers who taught in the University of Salamanca, following the inspiration of the great Thomist Francisco de Vitoria. It turns out that the Scholastics were not simply medieval, but began in the 13th century and expanded through the 16th and 17th centuries; and they developed some original theories about economics and international law.Why should a few men mainly interested in theology and ethics apply themselves in (...) analyzing issues so far from their worries? The answer leads us to a revision of the morality rules, due to the new problems in business ethics. Thus, for example, the appearance of inflation made them have doubts about the merchant's morality. In order to solve this and other problems, they began to analyze the new and suspicious economic activity. As a result of their observations about ethical issues they discovered some advanced theories for the history of economic thought, such as the early formulation of the quantity theory of money. (shrink)

This volume provides a new account of business ethics from the perspective of Catholic social thought. Focusing on the sense of agency of the business person and the interests of business firms, this volume addresses business from both "the outside" (with questions about economic life in Catholic social thought) and "the inside" (with attention to the internal dynamics of business firms). The result is a creative account of fundamental issues confronting the moral business (...) leader and any firm committed to responsible business practice. This volume is unique in the depth of the questions from Catholic social thought that it brings to bear on business. It begins with interviews of three CEOs to ensure a grounding in experience and a consideration of the intellectual history of business issues in Christianity. Most importantly, it deals with fundamental moral concerns: the character of agency, autonomy, practical wisdom, and the technocratic paradigm, along with other elements of Catholic social thought. The book then applies these concepts to assess management science, the motivations of business leaders, the role of luck in personal success, the traditional moral justifications of business, and more. (shrink)

“Business Ethics in Developing Countries: A Response to Rossouw” examines Gedeon J. Rossouw’s account of business morality and those preconditions that he seeks in order to develop a moral business culture in South Africa, given the historical reality in that country. The paper argues that Rossouw does not take cognisance of history. Particularly of the decade after the election of the Nationalist Party Government in 1948, when that government strove to impose its ideology upon South (...) African Society. If he did take cognisance of that history, then he would not be able to proffer those proposals which he believes would improve business morality there. The paper also extends a caution against the acceptance of economic advancement as a pre-condition for the appearance of moral business practices. Likewise for the contrary view that economic growth is the harbinger of moral decay. (shrink)

“Business Ethics in Developing Countries: A Response to Rossouw” examines Gedeon J. Rossouw’s account of business morality and those preconditions that he seeks in order to develop a moral business culture in South Africa, given the historical reality in that country. The paper argues that Rossouw does not take cognisance of history. Particularly of the decade after the election of the Nationalist Party Government in 1948, when that government strove to impose its ideology upon South (...) African Society. If he did take cognisance of that history, then he would not be able to proffer those proposals which he believes would improve business morality there. The paper also extends a caution against the acceptance of economic advancement as a pre-condition for the appearance of moral business practices. Likewise for the contrary view that economic growth is the harbinger of moral decay. (shrink)

This book is an extended argument for the critical importance which justice and ethical leadership should have in business ethics education. The book examines the history of ideas and purposes in education, the contemporary role of business schools, and the social foundations of moral education to conclude that the pragmatic pursuit of the good must be a central aim of business strategy. To meet the challenges of facing society today, the masters of business must (...) be moral craftsmen in a just and democratic private property economy that serves the common good. The author grounds this vision for business leadership in the centrality of systems of exchange in human society, in generating prosperity and providing for the general welfare. Business ethics education has focused primarily on moral formation of individual leaders and managers in the context of ethical codes, organizational culture, and legal compliance. Important as this approach is, it fails to generate a sufficient level of business responsibility to satisfy legitimate social concerns regarding the use of natural resources, environmental sustainability, reasonable limitation of systemic risk in capital markets, and fair allocation of goods and services. If the social purpose of business is not intentionally embraced and diligently pursued, the economy may enrich a few but impoverish the society, its resources, and its democracy. Hence this book argues for a new vision of business ethics that is grounded in public accountability of business operations and outcomes for the common good, as a matter of justice. (shrink)

Business ethics is not a novelty: it has important antecedents, among which we find the Spanish "Salamanca School". Its most brilliant period was during the sixteenth and early seventeenth century, a historical epoch when Spain was one of the principal centers of commerce in Europe. In this article, we present a panoramic view of business ethics as developed by this school and discuss its potential contributions to new developments in business ethics. The Salamanca School (...) was primarily focused on action, yet ultimately oriented to the agent. The Salamanca School's authors were theologians seeking to harmonize faith, reason and social reality. Many of them were very well-acquainted with the business dynamics of their day and issued precise assessments of them. In their writings, they also considered fundamental aspects of the market economy (property, prices, monopolies, profit, etc.). Their moral reasoning follows the natural-law of Thomas Aquinas, but places greater emphasis on empirical data. In the context of a global economy, the Salamanca School's open, universal approach is especially worthy of consideration. (shrink)

As business ethics is grappling with criticisms of its relevance for ethical practice, it may find perspective and direction in various conceptions of ethos. While ‘ethics’ is rooted in ‘ethos’, a term with a long and rich history of interdisciplinary research, conceptions of ethos are so far scarcely discussed in business ethics. The purpose of this conceptual article is to explore the potential of a pivot towards business ethics as an ethos-driven practice, (...) drawing on John Dewey’s work. First, it introduces four conceptions of ethos from interdisciplinary research and explores their varied resonance in business ethics. Second, it offers a unified conception of ethos that builds on John Dewey’s approach to economics, moral life and ethics, particularly on his understanding of habits and forms of valuation. It is then argued that understanding ethos in terms of ‘valued modes of embedded, embodied and associational conduct’ encourages business ethics to engage in the intelligent, practical and meaningful reconstruction of evolving business practices. The article concludes that an ‘ ethotical turn’ for business ethics would not only invigorate practical, corporeal and environmental perspectives but also open the field to interdisciplinary insights and ideas. (shrink)

There is a long and distinguished history of ethical thought in both business and medicine dating back to ancient times. Yet, the emergence of distinct academic disciplines ("business ethics" and "bioethics") which are also tied to broader social movements is a very recent phenomenon. In spite of the apparent affinities that would seem to emerge from this connection, many have argued that the differences between business and medicine make any constructive interaction between business (...) class='Hi'>ethics and bioethics minimal. Indeed, little has been done to specifically examine the potential for collaboration and interdisciplinary research. This paper argues that there is considerable potential for constructive interaction between these two movements based on three major arguments: that the differences between medicine and business have been exaggerated, that both the fields face a number of urgent problems that are common to each, and that the model of bioethics can serve as a useful guide for business ethicists. (shrink)

There is a long and distinguished history of ethical thought in both business and medicine dating back to ancient times. Yet, the emergence of distinct academic disciplines [“business ethics” and “bioethics”) which are also tied to broader social movements is a very recent phenomenon. In spite of the apparent affinities that would seem to emerge from this connection, many have argued that the differences between business and medicine make any constructive interaction between business (...) class='Hi'>ethics and bioethics minimal. Indeed, little has been done to specifically examine the potential for collaboration and interdisciplinary research. This paper argues that there is considerable potential for constructive interaction between these two movements based on three major arguments: that the differences between medicine and business have been exaggerated, that both fields face a number of urgent problems that are common to each, and that the model of bioethics can serve as a useful guide for business ethicists. (shrink)

The history of the field of business ethics in the U.S. remains understudied and misunderstood. In this article I begin to remedy this oversight about the past, and I suggest how it can be beneficial in the present. Using both published and unpublished primary sources, I argue that the business ethics field emerged in the early twentieth century, against the backdrop of the establishment of business schools in major universities. I bring to light four (...) important developments: business ethics lectures at the University of California and Yale University, Leon Marshall’s curriculum at the College of Commerce of the University of Chicago, and the William A. Vawter Foundation on Business Ethics at Northwestern University. Then, I consider the payoffs of my historical account for business ethics theory, pedagogy, and practice. Specifically, I present four implications of my account under these headings: business ethics as a public problem; the place of ethics in business schools; historicizing business ethics; and historical self-knowledge. (shrink)

More often than not, business ethics textbooks have included sections on "the great economic debate," that is, the discussion of capitalism as a total system, of the criticisms against it and of the proposed alternatives. The reason for such sections is fairly obvious: at some point one has to consider whether or not all the particular problems of employment, of product quality, of environment, of regulation and so on prove beyond solution without a radical change in the basic (...) institutions of society. Since the collapse of real socialism as an alternative in the period 1989–1991, it has become increasingly difficult to have this discussion. Yet we cannot do without the critique of capitalism even if the answer may be that no other economic system is viable at this moment in history. My interest in this paper is to explore how we might now engage in this critique. Francis Fukuyama's "The End of History?" (1989) and Jacques Derrida's Specters of Marx: The State of the Debt, the Work of Mourning and the New International (1993) provide a framework for this renewed engagement. (shrink)

This report characterizes the state of affairs in the field of business ethics in Central and Eastern Europe. It reveals the major problems and challenges brought about by the profound reforms to these societies and economies. It also offers some results of surveys looking at public opinion on morals and ethics, as well as on current business practices. In order to give a complex picture, it presents brief lessons from the history of particular countries. The (...) author, devoting the most attention to the Czech Republic, tries to describe not only the development of business ethics in the theoretical arena but also the first steps taken by the business world itself. (shrink)

This address uses the question “Is business ethics getting better?” as a heuristic for discussing the importance of history in understanding business and ethics. The paper uses a number of examples to illustrate how the same ethical problems in business have been around for a long time. It describes early attempts at the Harvard Business School to use business history as a means of teaching students about moral and social values. In (...) the end, the author suggests that history may be another way to teach ethics, enrich business ethics courses, and develop the perspective and vision in future business leaders. (shrink)

Understanding the evangelical framework for business ethics is important, since business evangelicals are well positioned to exercise considerable future influence. This article develops the context for understanding evangelical business ethics by examining their history, theology and culture. It then relates the findings to evangelical foundations for business ethics. The thesis is that business ethics, as practiced by those in the evangelical community, has developed inductively from a base of applied experience. (...) As a result, emphases on piety, witnessing, tithing, and neighborliness, important foundations in the evangelical model for business ethics, have resulted in a multitude of applied ethical strategies. This operative ethics model is then evaluated, particularly in regarding to its limited focus on the fundamental purposes and structures of business. The article concludes with several recommended sources which can enrich the evangelical tradition of business ethics, suggesting many resources from the Reformed Christian tradition as well as other ideas from contemporary Protestant and Catholic thinkers. (shrink)

Societies need markets, so just as trustworthy professionals are needed in fields such as healthcare, law and education, modern societies need trustworthy market managers, including corporate officers and directors. But in its screening of candidates, U.S. corporate business has lagged behind fields such as medicine and law, which in the nineteenth century addressed their need for screening by upgrading professional education and establishing licensing of individual practitioners. Corporate business, by contrast, has been too tolerant of problematic executives, particularly (...) executives of a type shown by recent research in psychology to exhibit a set of personality traits including below average concern about bad effects of their actions on other people. Over-representation of this problematic type has cost corporate business the trust and respect it could earn by resting fully on a time-honored alternative foundation already espoused by many trustworthy teachers and practitioners of business. Society needs these trustworthy people of business to work together to establish screening of candidates for high level corporate positions by upgrading MBA education and establishing licensing for these positions. For reasons again based on current findings in psychology, screening candidates for the MBA could be significantly strengthened by requiring historical studies, particularly history of the corporate legal structure in the U.S. and history of the MBA itself. Upgrading the MBA and establishing correlated licensing could open the way toward corrections in the legal form of the corporation to bring it into line with hospitals, law courts and universities as places where responsible professionals pursue their callings on behalf of society. (shrink)

This chapter contains sections titled: Origins and underlying ideologies 1700–1776 Earlier American business ethics 1777–1890 A mature American business ethics 1891–1963 The rise of social issues in business ethics 1962–1970 Business ethics as a specific discipline American business ethics as global Conclusion.

This study focuses upon two competing visions of wealth and work among Baptists in America and how these different visions have shaped Baptist business ethics. Russell H. Conwell reflected the Reformed tradition's inclination toward what came to be called the Protestant work ethic and its defense of capitalism. He contended that American capitalism presented an open door for any diligent worker to achieve deserved riches. Walter Rauschenbusch reflected the Anabaptist heritage in the stream of Baptist history. He (...) challenged the dominant ethos of the industrial revolution in America and its preference for the interests of management; he called instead for the protection of the worker from the monopolistic power of the capitalists. These two contrasting postures influenced the response of Baptists to the labor-management struggle. (shrink)

After providing a brief history of global climate change, we consider and reject the influential position that free markets and responsive democracies relieve corporations of obligations to protect the environment. Five main objections to the free market view are presented, focusing in particular on the roles of business organizations in the transportation and electricity generation sectors. Ethically grounded management and public policy recommendations are offered.

Companies do have ethical responsibility and are not protected by limited liability from the consequences of their actions. A company's record and the preception of its ethics affect its reputation and ensure long term success or failure.The financial community has a history of placing moral considerations above legal or opportunistic expedients. But we are often exposed to moral dangers and the dangers of contamination are increasing. Deregulation and the technological revolution are sharpening ethical conflicts.

This article examines the business practices of Jamsetji Nusserwanji Tata, the founder the Tata group of business in India in the 19th century, from the perspective of stakeholder welfare. Jamsetji Nusserwanji Tata was concerned about the welfare of all major stakeholder constituents. His business practices promoted the welfare of employees, customers, society, owners, competitors, environment and other stakeholders. He implemented several measures even before law mandated them thus acting as a forerunner in promoting stakeholder welfare. His (...) class='Hi'>business plans became the foundation for an economically strong India. This article, after an initial overview of the stakeholder framework, describes the business practices of Jamsetji Nusserwanji Tata with regard to major stakeholder constituents. Relevant research findings regarding each stakeholder constituent studied have been cited to show that the practices of Jamsetji Nusserwanji Tata have relevance to business even today. (shrink)

The leading academic in Spanish Business Ethics offers a brief history of his subject in Spain and reflects on the evolution taking place in the 1990s. Professor Argandoña is Secretary General of IESE in Barcelona, the International Graduate School of Management of the University of Navarra, Av. Pearson 21, 08034 Barcelona, Spain. He is also a member and Honorary Treasurer of the European Business Ethics Network and an Associate Editor of this Review.

Typically people make ethical judgments with reference to unchanging principles, standards, rights, and values. This essay argues that such an ahistorical approach to ethics should be supplemented by a due regard for history. Invoking precedents by authors such as Jonsen and Toulmin, McIntyre, Niebuhr, Weber, De Tocqueville, Machiavelli and others, this essay explores several important ways in which a due regard for history can and should shape the practice of business ethics. Thus a due regard (...) for history helps us both to cultivate fitting appreciation of cultural mores and to understand how current problems and issues have developed as they have; it helps us to gauge current responsibilities with respect legacies of problems inherited from the past; it helps us to develop a lively sense of what is possible in the present, given current contingencies and past experiences; and it moves us to rethink the practice of ethical auditing: not just as a backward-looking effort to gauge compliance but as a forward-looking way of learning from actual experiences and developing fitting responses. (shrink)

In the historical progress of nations, economic wealth plays an important role as well as prosperity in social and cultural make-up. When the entire Turkish history is considered, we come across with the institution of Akhism that is both related to the regulation of sociocultural life as well as to the operation of business life within the framework of certain principles and rules. Even though Akhism has aspects in parallel with today’s management philosophies, history has not been (...) immutable and economical activities have changed since the thirteenth-century establishment of Akhism. This theoretical study intends to introduce Akhism that stands as a turning point in Ottoman history in social, cultural and economical aspects. Then the purposes of the institution, its principles and historical progress will be outlined. Furthermore, Akhi associations as well as conflicts with total quality management, social responsibility and corporate culture will be diagnosed. (shrink)

After almost 30 years of publications, Journal of Business Ethics (JBE) has achieved the position of main marketplace for business ethics discussion and knowledge generation. Given the large amount of knowledge produced, an assessment of the state of the art could benefit both the constructive development of the discipline and the further growth of the journal itself. As the evolution of a discipline is set to be reflected in the evolution of its leading journal, we attempt (...) to characterize changes in the intellectual structure of business ethics through a bibliometric analysis of articles published in JBE . Specifically, we conduct a knowledge-stock analysis to assess the evolution, major trends, and current state of the journal. Additionally, we use citation and co-citation analysis to provide an accurate description of the content and the advancement of research in business ethics. Through the results of our analysis, we are able to: (1) pinpoint the characteristics of the growing stock of knowledge published by JBE over the years; (2) identify the most influential works on business ethics research; and (3) detect the formation and evolution of schools of thought in business ethics. (shrink)

This article surveys western business ethics' recent history to show how this ethic has neglected recently its religious traditions and become construed more narrowly as an applied philosophy and social science. It argues that this narrowness has confused business ethics' role in business education and helped to weaken the distinctiveness of certain institutions of higher education. It then suggests ways that western business ethics might become more integrated, interesting, and autonomous as an (...) academic discipline by incorporating its key religious traditions. (shrink)

This article pursues the question whether and inasmuch theories of corporate responsibility are dependent on conceptions of managerial freedom. I argue that neglect of the idea of freedom in economic theory has led to an inadequate conceptualization of the ethical responsibilities of corporations within management theory. In a critical review of the history of economic ideas, I investigate why and how the idea of freedom was gradually removed from the canon of economics. This reconstruction aims at a deconstruction of (...) certain axioms of neoclassical economics that hamper contemporary efforts in integrating ethics firmly into management education. I intend to show by these deconstructive endeavors that a constructive use of the idea of responsible freedom could correct and complement the current quantitative focus in business theory through qualitative orientations. I argue that with the help of qualitative success criteria, the strategic integration of the tenets of both business ethics and Corporate Social Responsibility into business practice can be advanced by further research. (shrink)

The idea underlying this article was that the humanities in general and business ethics in particular should be more firmly embedded in business management programs. A number of areas have been identified for students to use as topics for research projects in management ethics. These ranged from Biblical and classical times to the present day. Some were drawn from sources that were less well known e.g. the De consolatione philosphiae ‘The Consolation of Philosophy’ by Boethius 524 (...) AD. This was chosen partly for its ethical content, but also because Boethius was magister officiorum i.e. head of the civil service. Aelfred the Great (849–899) King of Wessex (he who burnt those cakes) was chosen because he promoted the intellectual, moral and spiritual qualities that were to serve as guidelines for his executives. Nineteenth century literature (Dickens, Thackeray, Trollope and Galsworthy) was also chosen as a source of topics for research projects in business ethics. The writer acknowledges the work of earlier writers in the fields of management, organisation theory, and business ethics. (shrink)

This article pursues the question whether and inasmuch theories of corporate responsibility are dependent on conceptions of managerial freedom. I argue that neglect of the idea of freedom in economic theory has led to an inadequate conceptualization of the ethical responsibilities of corporations within management theory. In a critical review of the history of economic ideas, I investigate why and how the idea of freedom was gradually removed from the canon of economics. This reconstruction aims at a deconstruction of (...) certain axioms of neoclassical economics that hamper contemporary efforts in integrating ethics firmly into management education. I intend to show by these deconstructive endeavors that a constructive use of the idea of responsible freedom could correct and complement the current quantitative focus in business theory through qualitative orientations. I argue that with the help of qualitative success criteria, the strategic integration of the tenets of both business ethics and Corporate Social Responsibility into business practice can be advanced by further research. (shrink)

This enlightening text analyses the origins of Western complaints, prevalent in the late nineteenth century, that Japan was characterised at the time by exceptionally low standards of ‘commercial morality’, despite a major political and economic transformation. As Britain industrialised during the nineteenth century the issue of ‘commercial morality’ was increasingly debated. Concerns about standards of business ethics extended to other industrialising economies, such as the United States. Hunter examines the Japanese response to the charges levelled against Japan in (...) this context, arguing that this was shaped by a pragmatic recognition that Japan had little choice but to adapt itself to Western expectations if it was to establish its position in the global economy. The controversy and criticisms, which were at least in part stimulated by fear of Japanese competition, are important in the history of thinking on business ethics, and are of relevance for today’s industrialising economies as they attempt to establish themselves in international markets. (shrink)

To commemorate 40 years since the founding of the Journal of Business Ethics, the editors in chief of the journal have invited the editors to provide commentaries on the future of business ethics. This essay comprises a selection of commentaries aimed at creating dialogue around the theme Ethics at the centre of global and local challenges. For much of the history of the Journal of Business Ethics, ethics was seen within the (...) academy as a peripheral aspect of business. However, in recent years, the stakes have risen dramatically, with global and local worlds destabilized by financial crisis, climate change, internet technologies and artificial intelligence, and global health crises. The authors of these commentaries address these grand challenges by placing business ethics at their centre. What if all grand challenges were framed as grand ethical challenges? Tanusree Jain, Arno Kourula and Suhaib Riaz posit that an ethical lens allows for a humble response, in which those with greater capacity take greater responsibility but remain inclusive and cognizant of different voices and experiences. Focussing on business ethics in connection to the grand challenge of environmental emergencies, Steffen Böhm introduces the deceptively simple yet radical position that business is nature, and nature is business. His quick but profound side-step from arguments against human–nature dualism to an ontological undoing of the business–nature dichotomy should have all business ethics scholars rethinking their “business and society” assumptions. Also, singularly concerned with the climate emergency, Boudewijn de Bruin posits a scenario where, 40 years from now, our field will be evaluated by its ability to have helped humanity emerge from this emergency. He contends that Milieudefensie v. Royal Dutch Shell illustrates how human rights take centre stage in climate change litigation, and how business ethics enters the courtroom. From a consumer ethics perspective, Deirdre Shaw, Michal Carrington and Louise Hassan argue that ecologically sustainable and socially just marketplace systems demand cultural change, a reconsideration of future interpretations of “consumer society”, a challenge to the dominant “growth logic” and stimulation of alternative ways to address our consumption needs. Still concerned with global issues, but turning attention to social inequalities, Nelarine Cornelius links the capability approach to global and corporate governance, arguing that CA will continue to lie at the foundation of human development policy, and, increasingly, CSR and corporate governance. Continuing debate on the grand challenges associated with justice and equality, Laurence Romani identifies a significant shift in the centrality of business ethics in debates on managing differences, positing that dialogue between diversity management and international management can ground future debate in business ethics. Finally, the essay concludes with a commentary by Charlotte Karam and Michelle Greenwood on the possibilities of feminist-inspired theories, methods, and positionality for many spheres of business ethics, not least stakeholder theory, to broaden and deepen its capacity for nuance, responsiveness, and transformation. In the words of our commentators, grand challenges must be addressed urgently, and the Journal of Business Ethics should be at the forefront of tackling them. (shrink)

Business ethics seeks to apply diverse ideas about ‘right’ and ‘wrong’, the ‘good life’ and the ‘good society’ to the decisions, attitudes and behaviour of people and institutions in profit-making business, and it does so in order to understand or evaluate, and to improve. In the broad sense, this has been a millennial activity, coterminous with the very existence of ‘business’ , and it has gone on under diverse rubrics including those of social ethics, social (...) thought, political economy or economic ethics, and within the disciplines of history, literature, sociology and politics. In the 20th century, and especially since the 1960s, a narrower-gauge subject has employed ‘business ethics’ as its explicit title.This has developed its own literature, journals and courses, academics, experts, networks and promoting bodies, usually within business schools or management studies, and with a markedly pedagogic or even ‘missionary’ tone. It is this more explicit, institutionalized and in a sense more ‘proprietary’ stream of ‘business ethics’ that I intend to criticize in this paper. Let us call it ‘conventional business ethics’ . I believe that this subject makes unwarranted claims for itself, while remaining somewhat insular and neglecting fundamental issues vital to ‘business ethics’ in the wider sense, and that it badly needs reconstruction.My criticisms are threefold and partly interrelated. They apply in varying degrees to all the current approaches, whether substantive or procedural in emphasis, whether related to utilitarian, deontological or other traditions in ethics, whether structured around social values, policy areas, management functions or stakeholder groups, and whether ‘problem-solving’ or more wisdom encouraging or ‘philosophical’. My first charge is of a-historicity. Far from ‘currentism’ assisting realism, it shortchanges proper empirical understanding of business persons, firms, sectors and decisions. My second charge is of a weak approach to the methods of ‘improvement’; a narrow view of the dynamics of desirable change. My third charge relates to a grave neglect of socio-political issues of mainly collective business influence. At issue here is a problem of micro market entrapment. Some of the most central ethical problems of business behaviour and belief are thereby bypassed, those relating to overall business roles, power and resources. (shrink)

There have been many attempts during the history of applied ethics that have tried to develop a theory of moral reasoning. The goal of this paper is to explicate one aspect of the debate between various attempts of offering a specific method for resolving moral dilemmas. We contrast two kinds of deliberative methods: deliberative methods whose goal is decision-making and deliberative methods that are aimed at gaining edifying perspectives. The decision-making methods assessed include the traditional moral theories like (...) utilitarianism and Kantianism, as well as second order principles, such as principlism and specified principlism. In light of this assessment, we suggest taking a closer look at two perceptive models, casuistry and particularism. These models are used for dealing with moral dilemmas that provide for edifying perspectives rather than decision-making. These perceptive models, though less scientific and not as good at prescribing an action, are more human in the sense that they enrich our moral sensibilities and enhance our understanding of the meaning of the situation. (shrink)

The current discussion of business ethics is nothing new. In fact it has been a topic of common interest to both researchers and top managers since the mid fifties; the focus adjusting to issues and problems of the times. The authors of the article list four themes they believe to be of relevance for future discussion. First, ethics as an instrument of business behavior is entering a new dimension due to negative side effects of economic activities, (...) which are even observed on a global scale and where it is doubtful that governments can adequately manage this complex environment. From this view, ethics becomes a decisive component of efficiency and requires a new way of thinking on the development of the market system and on a new delineation of responsibilities between government and markets. Second, in the process of transformation of the East-European states it seems to be all the more important to emphasize the ethical characteristics which are part of the concept of competition — the gains to the consumer due to the plurality of search and discovery procedures, the capability to correct and absorb wrong decisions, and the specific distributional ethics. Third, business ethics as an element of the firm''s guiding vision has to be incorporated into its corporate culture, which will foster an institutional ethic of the firm — the joint effect of individual ethics within the history of the firm coupled with time and experience. Fourth, conflicting business philosophies must be judged with reference to the process of communication of business ethics. Summing up business ethics has a micro and macro component and is related to the individual firm as well as to the structure of the economic and social order. Ethics will, however, have a limited effect if it is not accompanied by the change in goals, structures and processes. (shrink)

There are varying opinions about whether or not the field of business ethics has a history or is a development of more modern times. It is suggested that a book by a Dominican Friar, Johannes Nider, De Contractibus Mercatorum, written ca. 1430 and published ca. 1468 provides a basis for a history of over 500 years. Business ethics grew out of attempts to reconcile Biblical precepts, canon law, civil law, the teachings of the Church (...) Fathers, and the writings of early philosophers with the realities of expanding economic activity. Nider's background is discussed as well as his book as an example of incunabula.Nider was one of the Scholastics who provided a link between Aristotle and later Reformation thinkers. In Nider we find caveat venditor as his moral guide to merchants as well as other surprisingly modern ideas such as justice in exchange; restitution for defective goods; the market as the final arbiter of value; and the importance of creating utility in products. (shrink)

Combining perspectives on the interplay of two areas of primary importance to our lives--business and society--this anthology brings together a wide range of readings on the subject. Topics covered include the historical evolution of the business enterprise, the emergence and development of the labor force, and the impact of the international marketplace. Barry Castro concentrates on the moral and social aspects of business, the way it affects national economy, the environment, careers, the disadvantaged, government, and public opinion. (...) Considering the abundance of socioeconomic issues in everyday life, he shows that business ethics is particularly relevant to the business student of today, and that the historical, social and ethical dimensions of business are an inseparable and necessary component of business education. (shrink)