Much has been written about stakeholder analysis as a process by which to introduce ethical values into management decision-making. This paper takes a critical look at the assumptions behind this idea, in an effort to understand better the meaning of ethical management decisions.A distinction is made between stakeholder analysis and stakeholder synthesis. The two most natural kinds of stakeholder synthesis are then defined and discussed: strategic and multi-fiduciary. Paradoxically, the former appears to yield business without ethics and the latter appears (...) to yield ethics without business. The paper concludes by suggesting that a third approach to stakeholder thinking needs to be developed, one that avoids the paradox just mentioned and that clarifies for managers (and directors) the legitimate role of ethical considerations in decision-making. (shrink)

Our approach in this response is as folIows. In § I, we try to identify accurately Boatright’s central claims-both about Goodpaster’s original paper and about matters of substance independent of that paper. In § 2 and 3, we discuss the plausibility of those claims, first from a legal point of view and then from a moral point of view. Finally, in § 4, we defend the concept of paradox (and, in particular, the Stakeholder Paradox) as a limitation on practical (...) reason which is not necessarily to be lamented. In fact, we believe, some paradoxes are better preserved from rather than guided toward resolution. (shrink)

_Conscience and Corporate Culture_ advances the constructive dialogue on a moral conscience for corporations. Written for educators in the field of business ethics and practicing corporate executives, the book serves as a platform on a subject profoundly difficult and timely. Written from the unique vantage point of an author who is a philosopher, professor of business administration, and a corporate consultant A vital resource for both educators in the field of business ethics and practicing corporate executives Forwards the constructive dialogue (...) on a moral conscience for corporations Offers a philosophical and practical approach to considering business ethics. (shrink)

Opening with Ford Motor Company as a case in point, this essay develops a broad and systematic approach to the field of business ethics. After an analysis of the form and content of the concept of responsibility, the author introduces the principle of moral projection as a device for relating ethics to corporate policy. Pitfalls and objections to this strategy are examined and some practical implications are then explored.The essay not only defends a proposition but exhibits a research style and (...) a research program. Philosophical ethics and organizational management are joined in the process. (shrink)

In this article, I develop the idea of the “institutional insight” as a pathway to two foundational values for applied ethics: human dignity and the common good. I explore—but do not offer a definitive analysis of—these two values that I believe are critical to the progress of business ethics. In several previous articles, I have alluded to this theme, but here I hope to show that human dignity and the common good underlie both management's fiduciary duty to shareholders, and management's (...) obligations to “stakeholders.” Indeed, it may be that the frequently observed tension between the latter two normative paradigms can be resolved only by engaging in the comprehensive moral thinking afforded by the institutional insight. (shrink)

We address how the leaders of a Catholic business school can articulate and assess how well their schools implement the following six principles drawn from Catholic social teaching : produce goods and services that are authentically good; foster solidarity with the poor by serving deprived and marginalized populations; advance the dignity of human work as a calling; exercise subsidiarity; promote responsible stewardship over resources; and acquire and allocate resources justly. We first discuss how the CST principles give substantive content and (...) meaning to the Good Goods, Good Work, and Good Wealth framework in The Vocation of the Business Leader and then discuss their congruencies and tensions with the UNGC and UNPRME principles. Next, we describe the Catholic Identity Matrix, an assessment tool that provides a quantitative and qualitative portrait of how well a Catholic business school integrates, within the scope of its mission and capacities, the three goods and related CST principles in its strategies, policies, activities, and processes. The concluding section discusses implications for ongoing UNGC and UNPRME assessment, reporting, and development efforts, and addresses the generalizability of our approach to business schools who draw their inspiration and moral principles from other faith-based or secular traditions. (shrink)

This paper explains and defends three basic propositions: (1) that our attitudes (particularly American attitudes) towardorganizational ethics are conflicted at a fairly deep level; (2) that in response to this conflict in our attitudes, we often default to variouscounterfeits of conscience (non-moral systems that serve as surrogates for the role of conscience in organizational settings); and(3) that a better response (than relying on counterfeits) would be for leaders to foster a culture of ethical awareness in their organizations. Some practical suggestions (...) are made about fostering such a culture, and a comparison is made between this late-20th-century response to the problem of counterfeits and the classic “naturalistic fallacy” identified in early-20th-century ethics by G. E. Moore. (shrink)

This article attempts to answer the question, “What are the most important ideas from serving as Executive Editor of the five‐year history project that culminated in the book, Corporate Responsibility: The American Experience?” The ideas focus on clarifying the phenomenon of tenacity; looking at three foundations of our tenacity; and asking “How fragile is our tenacity?” This article also presents three foundational principles that underlie the American experience of corporate responsibility. First, the Checks & Balances Principle tells us that there (...) are checks and balances in democratic capitalism which give us confidence that the pursuit of economic goals will be moderated for the common good. Second, the Moral Projection Principle shows that there is good reason to consider the corporation not only as a legal person under corporate law but also as a moral person. And, last, the Moral Common Ground Principle reflects that there are shared moral values ascertainable by well‐developed consciences in individuals and in corporations. The article concludes with this argument: The tenacity regarding corporate responsibility that has been so characteristic of American capitalism is fragile—calling for serious vigilance if it is to endure. (shrink)

ABSTRACT:In 2010,Business Ethics Quarterlypublished ten articles that considered the potential contributions to business ethics research arising from recent scholarship in a variety of philosophical and social scientific fields (strategic management, political philosophy, restorative justice, international business, legal studies, ethical theory, ethical leadership studies, organization theory, marketing, and corporate governance and finance). Here we offer short responses to those articles by members ofBusiness Ethics Quarterly’s editorial board and editorial team.

Contrary to W. Murray Hunt’s suggestion, living things deserve moral consideration and inanimate objects do not precisely because living things can intelligibly be said to have interests (and inanimate objects cannot intelligibly said to have interests). Interests are crucial because the concept of morality is noncontingently related to beneficence or nonmaleficence, notions which misfire completely in theabsence of entities capable of being benefited or harmed.

Contrary to W. Murray Hunt’s suggestion, living things deserve moral consideration and inanimate objects do not precisely because living things can intelligibly be said to have interests (and inanimate objects cannot intelligibly said to have interests). Interests are crucial because the concept of morality is noncontingently related to beneficence or nonmaleficence, notions which misfire completely in theabsence of entities capable of being benefited or harmed.

This paper addresses the relationship between theoretical and applied ethics. It directs philosophical attention toward the concept of ideology, conceived as a bridge between high-level principles and decision-making practice. How are we to understand this bridge and how can we avoid the naturalistic fallacy while taking ideology seriously?It is then suggested that the challenge posed by ideology in the arena of organizational ethics is in many ways similar to the challenge posed by developmentalist accounts of moral stages in the arena (...) of individual ethics, namely, how to account for the normative force of frameworks that are theoretically derivative yet practically essential. (shrink)

The ultimate challenge with which we are presented in connection with social investing is no more and no less than this: enhancing the function of conscience in the modern global business corporation. As with individual conscience, however, corporate conscience can be influenced in two ways: from the inside and from the outside. Investment decisions provide external influences, while management values provide influence from the inside.

In this article two broad ideals or 'umbrella' concepts in management ethics—one Eastern and one Western—are examined, with an eye toward explaining their fundamental similarities. Beyond ques tions of meaning and conceptual analysis, however, are questions of implementation. Institutional izing an ethical orientation—Eastern or Western—is the theme of the last part of the article. Different approaches to institutionalization are discussed and a strategy is suggested for making the 'umbrella' concepts part of the operating systems of organizations.

ABSTRACT:After a brief historical introduction, three interpretations of dignity in relation to management theory and business ethics are elaborated: Dignity as a general category, Human Dignity as Inherent and Universal, and Human Dignity as Earned and Contingent. Next, two literature reviews are presented under the headings of “Dignity and Business Research” and “Dignity and Business Ethics Research.” The latter discussion identifies three subcategories of business ethics research involving human dignity: the role of dignity as a cornerstone for paradigmatic shifts, the (...) role of dignity as the ‘ultima ratio’ for the protection of human rights, and the role of dignity in organizing business practices. The article concludes with summaries of the three articles chosen for this special section. (shrink)

In this paper we describe and explore a management tool called the Caux Round Table Self-Assessment and Improvement Process (SAIP). Based upon the Caux Round Table Principles for Business — a stakeholder-based, transcultural statement of business values — the SAIP assists executives with the task of shaping their firm’s conscience through an organizational self-appraisal process. This process is modeled after the self-assessment methodology pioneered by the Malcolm Baldrige National Quality Award Program. After briefly describing the SAIP, we address three topics. (...) First, we examine similarities and differences between the Baldrige approach to corporate self-assessment and the self-assessment process utilized within the SAIP. Second, we report initial findings from two beta tests of the tool. These illustrate both the SAIP’s ability to help organizations strengthen their commitment to ethically responsible conduct, and some of the tool’s limitations. Third, we briefly analyze various dimensions of the business scandals of 2001–2002 (Enron, WorldCom, Tyco, etc.) in light of the ethical requirements articulated with the SAIP. This analysis suggests that the SAIP can help link the current concerns of stakeholders — for example, investors and the general public — to organizational practice, by providing companies with a practical way to incorporate critical lessons from these unfortunate events. (shrink)

If we read the central message of Caritas in Veritate (CV) through the lens of contemporary business ethics—and the encyclical does seem to invite such a reading (CV 40–41, and 45–47)—there is first of all a diagnosis of a crisis. Then, we are offered a response to the diagnosis: charity in truth , “the principle around which the Church’s social doctrine turns, a principle that takes on practical form in the criteria that govern moral action .” (CV 6) In business (...) ethics, the norms of personal and (especially) corporate responsibility are the natural correlates to “the criteria that govern moral action.” Using this as a point of departure, I propose to relate some recent scholarship in business ethics to the message of CV — with the suggestion that there is significant convergence. I argue, further, that the encyclical breaks new ground with its suggestion that, at the center of our moral thinking in business ethics lies a logic of contribution or gift. I discuss Benedict’s understanding of the crisis, and his exhortation to reach beyond conventional interpretations of corporate responsibility, under the following four headings: Diagnosing a Crisis , Institutionalizing Conscience , A Tripartite View of Corporate Responsibility, and Comprehensive Moral Thinking. (shrink)

This article responds to two criticisms by Professor Nani Ranken of the Principle of Moral Projection in business ethics. In the process it enlarges upon our understanding of the moral agenda of management and the corporation as a participant in ethical transactions.