The purpose of this research is to examine the impact of individual and firm moral philosophies on marketing exchange relationships. Personal moral philosophies range from the extreme forms of true altruists and true egoists, along with three hybrids that represent middle ground. Organizational postures are defined as Ethical Paradigm, Unethical Paradigm, and Neutral Paradigm, which result in changes to personal moral philosophies and company and industry performance. The study context is a simulation of an exchange environment using a variation of (...) the prisoners' dilemma game. A literature review is provided in the opening section, followed by details on the simulation, discussion of the results, and the implications for theory and practice. (shrink)

This article points out the challenges to current models for media ethics that arise from the private ownership of public media, and it proposes a new model that integrates Adam Smith's free-market theory and his system of moral reasoning. The model creates moral obligations to maintain the integrity of a system for anyone who profits from it. This model renews an appeal for the contemporary notion of transparency and is built on an analogy between the system of the free market (...) for creating wealth and the system of the free press for producing reliable market information. (shrink)

The main contention of this paper is that our ability to embed a consideration of values into business school curricula is hampered by certain normative parameters that our students have when entering the classroom. If we don’t understand the processes of valuation that underpin our students’ reasoning, our ethics teaching will inevitably miss its mark. In this paper, we analyze one of the most prevalent metaphors that underpin moral arguments about business, and reveal the beliefs and assumptions that underpin it. (...) By revisiting the content of Adam Smith’s “invisible hand” metaphor, we show that the moral content of the metaphor has been significantly misconstrued through its subsequent reception in economic theory. The “Giving Voice to Values” pedagogy aims to enable students to act on their tacit values and address the rationalizations that they may encounter for not acting on these values. We believe our analysis can strengthen the employment of GVV in three ways: understanding tacit blockages to moral action, i.e., how students’ belief in the moral efficacy of the invisible hand could undermine their own sense of moral duty; addressing common rationalizations that may emerge from different assumptions about morally appropriate courses of action in the workplace; and resolving values conflicts on how to act. (shrink)

In the egoism philosophical framework, it is contended that when organizations focus on their long-term interests, they, without knowing it, advance the interests of society as a whole, which is perceived as ethical. In this research, this premise is challenged using data collected from the social media outlets of 29 randomly selected companies from the 2013 Fortune 500 list. Through qualitative comparative analysis, the exact opposite was found. In fact, the organizations that focused on striving for their long-term success are (...) perceived as unethical. It was also found that socially responsible organizations are perceived as ethical whereas those that misrepresent their positions and attempt to influence the decisions of others are perceived as unethical. Implications for managers are discussed, and future directions are suggested. (shrink)

A survey was conducted to investigate the relationship of Australian consumers’ lived (experienced) spiritual well-being and materialism with the various dimensions of consumer ethics. Spiritual well-being is composed of four domains—personal, communal, transcendental and environmental well-being. All four domains were examined in relation to the various dimensions of consumers’ ethical beliefs (active/illegal dimension, passive dimension, active/legal dimension, ‘no harm, no foul’ dimension and ‘doing good’/recycling dimension). The results indicated that lived communal well-being was negatively related to perceptions of the active/illegal (...) dimension and the passive dimension and was positively related to perceptions of the ‘no harm, no foul’ dimension and the ‘doing good’/recycling dimension. Lived personal well-being was negatively related to perceptions of the active/illegal dimension and was positively related to perceptions of the ‘no harm, no foul’ dimension and the ‘doing good’/recycling dimension. Lived transcendental well-being was negatively related to perceptions of the passive dimension, the active/legal dimension and the ‘no harm, no foul’ dimension. Lived environmental well-being was negatively related to perceptions of the active/legal dimension and the ‘no harm, no foul’ dimension. The findings also indicated that materialism was positively associated with perceptions of actively benefiting from illegal actions, passively benefiting at the expense of the seller, actively benefiting from questionable but legal actions and benefiting from ‘no harm, no foul’ actions. Public policy implications of the findings and opportunities for future research are discussed. (shrink)

Banks have a central role and importance in all commerce and hence in all societies. This thesis investigates the ethical basis of banking practice with the aim of developing an account of the virtues appropriate to bankers and banking. One central issue concerns a conflict between the interests of banks and their customers, and how this conflict plays out in relation to the lending policies and fee structure of banks. Such lending policies can have a significant effect on banks, their (...) customers and a range of stakeholders. This research project investigated empirical evidence through qualitative interviews with senior bankers in two locations, Australia and Hong Kong, to elicit their thoughts on banking areas that involve customer interaction, namely, deposit-taking, credit cards, home mortgage loans, corporate finance, and foreign exchange. The institutions selected hold a substantial segment of banking business in their respective countries and are thus representative of bankers’ perspectives. The dissertation also entailed a case study of the causes and consequences of the American sub-prime crisis that was precipitated by the financial sector. The interviews revealed an assertion of good ethical conduct based on adherence to peer-determined codes of conduct and compliance with regulations. There was also a common predisposition to claims of corporate social responsibility and reputation preservation but these have tended to mask the powerful underlying sales thrust. A key finding of the study points to a lapse in ethical values in banks due to excessive reliance on self-interest. Although self-interest is not in itself wrong, there has been a lack of moderation vis-à-vis the interests of less powerful customers. A related finding is a prevailing resistance to regulation that is necessary to curtail selfish and irresponsible behaviour by banks. The interview subjects prefer industry self-regulation to government supervision. However, the banks in Australia and Hong Kong, which have been subjected to tighter regulation, have survived the global financial crisis better than their American counterparts despite complaints about the severity of their regulatory climate. There is a strong case to ascribe ethical failure to American practices that triggered the sub-prime calamities, which have devastated homeowners and the global economy. American banks and regulators both operated on the erroneous supposition that the quest after extreme profits would be restrained by free market forces. The conclusions allude to virtues that are necessary for banks to espouse moral conduct. These virtues can be embedded through leadership and cultural change. (shrink)