Business scholars have recently proposed that the virtue of personal wisdom may predict leadership behaviors and the quality of leader–follower relationships. This study investigated relationships among leaders’ personal wisdom—defined as the integration of advanced cognitive, reflective, and affective personality characteristics (Ardelt, Hum Dev 47:257–285, 2004)—transformational leadership behaviors, and leader–member exchange (LMX) quality. It was hypothesized that leaders’ personal wisdom positively predicts LMX quality and that intellectual stimulation and individualized consideration, two dimensions of transformational leadership, mediate this relationship. Data came from (...) 75 religious leaders and 1–3 employees of each leader (N = 158). Results showed that leaders’ personal wisdom had a positive indirect effect on follower ratings of LMX quality through individualized consideration, even after controlling for Big Five personality traits, emotional intelligence, and narcissism. In contrast, intellectual stimulation and the other two dimensions of transformational leadership (idealized influence and inspirational motivation) did not mediate the positive relationship between leaders’ personal wisdom and LMX quality. Implications for future research on personal wisdom and leadership are discussed, and some tentative suggestions for leadership development are outlined. (shrink)

Abstract:The term stakeholder is a powerful one. This is due, to a significant degree, to its conceptual breadth. The term means different things to different people and hence evokes praise or scorn from a wide variety of scholars and practitioners. Such breadth of interpretation, though one of stakeholder theory’s greatest strengths, is also one of its most prominent theoretical liabilities. The goal of the current paper is like that of a controlled burn that clears away some of the underbrush of (...) misinterpretation in the hope of denying easy fuel to the critical conflagration that would raze the theory. We aim to narrow its technical meaning for greater facility of use in management and organizational studies. By elaborating a number of common misinterpretations – critical and friendly – of the theory, we hope to render a stronger and more convincing theory as a starting place for future research. (shrink)

This paper explored the linkages among moral imagination, systems understanding, and aesthetic sensibility as related to the emergence (eventually) of wisdom. I develop a conceptual framework that links these capacities to wisdom through the capacity to “see” moral and ethical issues, which I argue is related to “the good”, to see a realistic understanding of systems in which the observer is embedded, or “the true”, and to appreciate the aesthetic qualities associated with a system or situation, or “the beautiful”. The (...) relationship between the good, the true, and the beautiful is used to argue that all three types of seeing are building blocks for achievement of wisdom. The paper then briefly explores some of the ways that these capacities can potentially be incorporated into the classroom. (shrink)

This paper explored the linkages among moral imagination, systems understanding, and aesthetic sensibility as related to the emergence (eventually) of wisdom. I develop a conceptual framework that links these capacities to wisdom through the capacity to “see” moral and ethical issues, which I argue is related to “the good”, to see a realistic understanding of systems in which the observer is embedded, or “the true”, and to appreciate the aesthetic qualities associated with a system or situation, or “the beautiful”. The (...) relationship between the good, the true, and the beautiful is used to argue that all three types of seeing are building blocks for achievement of wisdom. The paper then briefly explores some of the ways that these capacities can potentially be incorporated into the classroom. (shrink)

Moral behaviour, and more recently wisdom and prudence, are emerging as areas of interest in the study of business ethics and management. The purpose of this article is to illustrate that Cicero—lawyer, politician, orator and prolific writer, and one of the earliest experts in the field recognised the significance of moral behaviour in his society. Cicero wrote ‘Moral Duties’ (De Officiis) about 44 BC. He addressed the four cardinal virtues wisdom, justice, courage and temperance, illustrating how practical wisdom, theoretical/conceptual wisdom (...) and justice were viewed in Rome of the first century BC. ‘Moral Duties’ is a letter admonishing his son, Marcus. It refers to personal behaviour, business practice and analyses terms such as good faith and criminal fraud. In addition, it contains material which would be suitable for tutorials/seminars and discussions, particularly in the areas of critical thinking in business ethics and general management. A study of De Officiis in respect to present day management and business practice could give a wider perspective to business ethics and management students. If concepts such as moral virtue, moral propriety and moral goodness, many of which seem to be ignored in business situations today, are to be embedded in business leaders of the future, it is reasonable to expect that these qualities will be analysed and discussed by business students today. Further, a study of Cicero’s six-step approach, when preparing an address/speech, could be useful and productive for practitioners and students in this area. (shrink)

Virtue ethics, the authors believe, is distinct and superior to other options because it considers, in the first place, which preferences are worth pursuing, rather than just blindly maximizing preferences, and it takes into account intuitions, emotions and experience, instead of acting solely on abstract universal principles. Moreover, virtue ethics is seen as firmly rooted in human biology and psychology, particularly in our freedom, rationality, and sociability. Work, business, and management are presented as vital areas for the development of virtues, (...) not the least with a view to human flourishing. We conclude by introducing the articles included in this special issue. (shrink)

Virtue ethics, the authors believe, is distinct and superior to other options because it considers, in the first place, which preferences are worth pursuing, rather than just blindly maximizing preferences, and it takes into account intuitions, emotions and experience, instead of acting solely on abstract universal principles. Moreover, virtue ethics is seen as firmly rooted in human biology and psychology, particularly in our freedom, rationality, and sociability. Work, business, and management are presented as vital areas for the development of virtues, (...) not the least with a view to human flourishing. We conclude by introducing the articles included in this special issue. (shrink)

The purpose of this article is to explain the differences between neo-Aristotelian virtue and positive organizational virtuousness from the virtue ethics perspective. Most studies use virtues and virtuousness interchangeably. A few others try to explain their differences from the positive organizational science perspective. Although closely related, we believe that these two notions are not identical. If we understand neo-Aristotelian virtue correctly, then it cannot be judged exclusively on what is externally verifiable, as is the case with virtuousness. For these reasons, (...) we attempt our own differentiation, highlighting the gains and losses realized in the migration from neo-Aristotelian virtue to positive organizational virtuousness, and establishing guideposts to meaningfully combine the strengths of both concepts. (shrink)

After defining the essential elements of Aristotelian citizenship, the article proposes to apply these criteria in its search for the equivalent of a citizen within the corporate polis. It argues that shareholding managers are the best positioned among a firm's constituents or stakeholders in fulfilling the role of corporate citizens. Greater participation by management not only in the control but also in the ownership of firms brings about benefits for the firm as a whole and for the managers themselves, as (...) organizational citizenship behavior literature, among others, suggests. (shrink)

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide (...) a balanced and integrated way of knowing, deciding and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business. (shrink)

This article echoes those voices that demand new approaches and ‹senses’ for management education and business programs. Much of the article is focused on showing that the polemic about the educative model of business schools has moral and epistemological foundations and opens up the debate over the type of knowledge that practitioners need to possess in order to manage organizations, and how this knowledge can be taught in management programs. The article attempts to highlight the moral dimension of management through (...) a reinterpretation of the Aristotelian concept of practical wisdom. I defend the ideas that management is never morally neutral and that Aristotelian practical wisdom allows the recovery of moral considerations in management practice. I analyze the impact and implications that the introduction of practical wisdom in business schools entails for the conception and objectives of management education. This view reconfigures management education in terms of attention to values, virtues and context. Therefore, management programmes should prepare students to critically evaluate what they hear and to make decisions coherent with their values and virtues. In the final section, I reflect on the pedagogical implications of this approach. I point out that an integrated model of ethics and practical wisdom promotes education of cognition and education of affect as well. I provide an example to illustrate my perspective and to support my conclusions. (shrink)

In recent years, increasing attention has been given to virtue ethics in business. Aristotle's thought is often seen as the basis of the virtue ethics tradition. For Aristotle, the idea of phronësis, or 'practical wisdom', lies at the foundation of ethics. Confucian ethics has notable similarities to Aristotelian virtue ethics, and may embody some similar ideas of practical wisdom. This article considers how ideas of moral judgment in these traditions are consistent with modern ideas about intuition in management decision making. (...) A hypothetical case is considered where the complexity of ethical decision making in a group context illustrates the importance of intuitive, phronësis-like judgment. It is then noted that both Aristotelian and Confucian virtue ethics include suggestions about support for moral decision making that are also consistent with modern theory. (shrink)

This study examines the implications of practical reason for entrepreneurial activities. Our study is based on Thomas Aquinas’ interpretation of such virtue, with a particular focus on the partition of practical reason in potential parts such as synesis, or common sense, and gnome, or perspicacity. Since entrepreneurial acts and actions deal with extremely uncertain situations, we argue that only this perspicacity, as the ability of correctly judging in exceptional cases, has the power to find wisdom under such blurred conditions. Perspicacity (...) frees entrepreneurs from their cognitive schemata rendering them able to be truly entrepreneurial. Based on this vision and thanks to a semantic analysis of the meaning of the Greek word gnome, we construct an interpretative model for entrepreneurial judgment composed of three dimensions, specifically, knowledge-cognitive, external-affective and personal-reflective. The model highlights how a ‘successful’ entrepreneurial judgment is also such from a holistic point of view. (shrink)

Although much of the growing literature on organizational identity implicitly recognizes the normative nature of identity, the ethical implications of organizational identity work and talk have not yet been explored in depth. Working from a meta-ethical perspective, we claim that the dynamic, processual, and temporal activities recently associated with organizational identity always have an ethical dimension, whether "good" or "bad." In order to describe the ethical dimensions of organizational identity, we introduce the balance theory of practical wisdom as a theoretical (...) framework, and connect this theory to existing organizational identity concepts. We present an empirical case focused on an international paint company to illustrate the relevance of this theory for empirical organizational identity research. Our intention is to expand existing theory by bringing an aspect of organizational identity that has been tangentially acknowledged to the forefront, and by identifying it as a fruitful avenue for future theory development as well as empirical research. (shrink)

Current frameworks on ethical decision-making process have some limitations. This paper argues that the consideration of moral competencies, understood as moral virtues in the workplace, can enhance our understanding of why moral character contributes to ethical decision-making. After discussing the universal nature of four moral competencies (prudence, justice, fortitude and temperance), we analyse their influence on the various stages of the ethical decision-making process. We conclude by considering the managerial implications of our findings and proposing further research.

Mentoring is a natural setting for senior employees to render ethics advice and consultation to junior employees. Two studies examined the question of whether those who mentor are more practically wise than those who do not. Although four different measures of practical wisdom were used, no differences were detected. However, mentors were shown to be more politically skilled than non-mentors.

ABSTRACT:Practical wisdom has received scant attention in business ethics. Defined as a disposition toward cleverness in crafting morally excellent responses to, or in anticipation of, challenging particularities, practical wisdom has four psychological components: knowledge, emotion, thinking, and motivation. People's experience, reflection, and inspiration are theorized to determine their capacity for practical wisdom-related performance. Enhanced by their abilities to engage in moral imagination, systems thinking, and ethical reframing, this capacity is realized in the form of wisdom-related performance. This can be manifested (...) either in wise business decisions or through their performance as mentors, advice givers, or dispute handlers. (shrink)

Corporate codes of ethics, which have spread in the last decades, have shown a limited ability to foster ethical behaviors. For instance, they have been criticized for relying too much on formal compliance, rather than taking into account sufficiently agents and their moral development, or promoting self-reflexive behaviors. We aim here at showing that a code of ethics in fact has meaning and enables ethical progress when it is interpreted and appropriated with practical wisdom. We explore a model that represents (...) an uncommon organizational code of ethics: the monastic Rule of St. Benedict, written in the sixth century and still used today. Our empirical study—conducted in several monasteries living under this rule—shows that organization members interpret this rule, both hermeneutically and ethically, to adapt it to situations. They also appropriate this rule as a way of life and treat it as a dynamic framework that helps them to follow their purpose within their organization. This exceptional code actually offers an alternative model for practicing codes of ethics, in a virtue-ethical manner, beyond mere compliance with the text. The way in which reflexive and active agents practice the code, both individually and collectively, shapes their organizational experience and fosters their moral development. (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)

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making, and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide (...) a balanced and integrated way of knowing, deciding, and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business. (shrink)

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making, and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide (...) a balanced and integrated way of knowing, deciding, and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business. (shrink)

The virtue approach to business ethics is a topic of increasing importance within the business world. Focusing on Aristotle's theory that the virtues of character, rather than actions, are central to ethics, Edwin M. Hartman introduces readers of this book to the value of applying Aristotle's virtue approach to business. Using numerous real-world examples, he argues that business leaders have good reason to take character seriously when explaining and evaluating individuals in organisations. He demonstrates how the virtue approach can deepen (...) our understanding of business ethics, and how it can contribute to contemporary discussions of character, rationality, corporate culture, ethics education and global ethics. Written by one of the foremost Aristotelian scholars working in the field today, this authoritative introduction to the role of virtue ethics in business is a valuable primer for graduate students and academic researchers in business ethics, applied ethics and philosophy. (shrink)

Ontology has been traditionally guided by sophia, a form of knowledge directed toward that which is eternal, permanent, necessary. This tradition finds an important early expression in the philosophical ontology of Aristotle. Yet in the Nicomachean Ethics, Aristotle's intense concern to do justice to the world of finite contingency leads him to develop a mode of knowledge, phronsis, that implicitly challenges the hegemony of sophia and the economy of values on which it depends. Following in the tradition of the early (...) Heidegger's recognition of the ontological significance of Aristotle's Ethics and of Gadamer's appropriation of phronsis for hermeneutics, this article argues that an ontology guided by phronsis is preferable to one governed by sophia. Specifically, it suggests that by taking sophia as its paradigm, traditional philosophical ontology has historically been determined by a kind of knowledge that is incapable of critically considering the concrete historico-ethico-political conditions of its own deployment. This critique of sophia is accomplished by uncovering the economy of values that led Aristotle to privilege sophia over phronsis. It is intended to open up the possibility of developing an ontology of finite contingency based on phronsis. Such an ontology, because it is guided by and must remain responsible to the concrete individual with which it is engaged, would be ethical at its very core. (shrink)

This paper investigates the multidimensional phenomenon of wisdom in organizations and management as an integral and relational process. In particular, the paper will show how phenomenology can help to render an extended understanding of the "incorporated" dimensions of wisdom situated in organizations and managerial life-world practises. Based on this, an integral (and holonic) pheno-practice of wisdom in organisations will be proposed. Accordingly the interior and exterior dimensions as well as individual and collective spheres of wisdom are assessed together. Furthermore, the (...) interconnected processes of intentional, behavioural, cultural and systemic domains of wisdom can be integrated. Following a processual turn, a dynamic and decentred perspective on wisdom will be developed by which it is interpreted as an emerging and inter-relational event. Finally, theoretical and practical implications and further research on a more integrated understanding of wisdom are discussed. (shrink)

. Many organizations continually search for new business models and ways to conduct business ethically, yet profitably. Kirk Cheyfitz (2003) proclaims that organizations should not waste time trying to create new business models because the rules of commerce never change. Instead of searching for new business models, organizations can improve business practices by looking at different paradigms or mental models for seeing how to build practices that lead to long-term success. The employment elements of wisdom as paradigms for developing sound (...) structures and practices that will encourage management behaviors that are ethical and lead to profitability. First, a theory of wisdom is developed. Then, the elements of wisdom are applied to the design of a general business structure and to refocusing some basic business practices. (shrink)

This paper addresses the question, how does wisdom contribute to management in circumstances of extreme unpredictability? We first discuss three key factors that fundamentally affect the conduct of business—human, knowledge, and the environment—as well as their characteristics and interactions. We then argue that managing the interaction between these factors to effectively deal with the complexity and unpredictability of a rapidly changing business world requires the appropriate application of wisdom, in particular ethics in the form of practical, moral, and epistemic virtues. (...) We propose that these three virtues are the link between the three factors and more effective decision-making and action taking in an unpredictable business world. A model is developed that conceptualizes the interconnection among the three factors and three virtues. This model has important academic and practical implications. For practice, the model points the way for both individuals and organizations to improve decision-making skills through the systematic expansion of perspectives gained through consideration of the three virtues. For academics, the model is an incremental, but important step in understanding the role of wisdom in management. (shrink)

Standard accounts on the nature of the firm are highly dependent on explanations by Coase, coupled with inputs from agency theory and shareholder theory. This paper carries out their critique in light of personalist and common good postulates. It shows how personalist and common good principles create a framework that not only accommodates business ethics better but also affords a more compelling understanding of business as a whole.

In this article, I argue that if we challenge some tacit assumptions of narrow rationality that endure in much of entrepreneurial studies, we can elevate entrepreneurial ethics beyond mere external constraints on rational action, and move toward fuller integration of ethics as an intrinsic part of the process of value creation itself. To this end, I propose the concept of practical wisdom as a framework for exploring entrepreneurial decision making and action that can broaden the scope of our research to (...) recognize entrepreneurship as an inherendy normative enterprise. Specifically, I suggest that a framework built upon a concept of practical wisdom enables us to adopt a richer and more complex view of entrepreneurial decision making that is well suited to the dynamic and uncertain context of entrepreneurship. Further, this framework enriches our view of entrepreneurial ethics to include consideration of the personal character, values, and purpose of the entrepreneur. By examining entrepreneurship through a lens of practical wisdom, we can open up new avenues of fruitful inquiry for scholars of entrepreneurship. (shrink)

Today’s globalized economy cannot be governed by legal strictures alone. A combination of self-interest and regulation is not enough to avoid the recurrence of its systemic crises. We also need virtues and a sense of corporate responsibility in order to assure the sustained success of the global economy. Yet whose virtues shall prevail in a pluralistic world? The moral theory of Thomas Aquinas meets the present need for a business ethics that transcends the legal realm by linking the ideas of (...) justice and virtue in an ingenious way. While allowing for, and incorporating, the specificities of region and religion, industry and culture, Thomas’s virtue theory coordinates private and public activities through a set of context-invariant, justice-oriented norms with conceptual appeal to contemporary questions of global business ethics.In our article, we first sketch how Aquinas’s theory can be also of relevance to a non-confessional audience through its appeal to the ‘natural light of reason.’ Then we explain how his theory of ‘natural law’ aligns his ideas of virtue and justice. From this vantage point, we address the tension between cultural diversity and moral uniformity in the economic sphere in general and in today’s globalized business world in particular. Throughout the article, we aim to show that by interpreting the virtue-dimension of business in light of the idea of social justice, Aquinas’s conception of virtuous business conduct gains inter-personal and inter-cultural validity that establishes social justice as the global virtue of business. (shrink)

In business ethics journals, Kant’s ethics is often portrayed as overly formalistic, devoid of substantial content, and without regard for the consequences of actions or questions of character. Hence, virtue ethicists ride happily to the rescue, offering to replace or complement Kant’s theory with their own. Before such efforts are undertaken, however, one should recognize that Kant himself wrote a “virtue theory” (Tugendlehre), wherein he discussed the questions of character as well as the teleological nature of human action. Numerous Kant (...) scholars argue that Kant already erected precisely the kind of integrative moral architecture that some of his modern interpreters (while aiming to supersede him) wish to construct. For business ethics, this divergence of scholarly opinion is of crucial importance. It shows first that the standard portrayals of Kant’s ethics in business ethics textbooks—as rigidly deontological, narrowly individualistic, and hence unsuitable for the specific demands of corporate agency—might have to be revised. Second, discussions in the business ethics literature on stakeholder-engagement and managerial decision-making likewise stand to gain from a more nuanced picture of Kant’s moral philosophy. Third, a reassessment of Kant’s ethics with regard to questions of personal character and moral sentiments might also lead to a more favorable view of the relevance of his ethics for managerial practice. Last, but not least, the many current attempts to reconcile Kant’s freedom-oriented philosophy with virtue theories stand to benefit considerably from a better understanding of how Kant himself conceived of one such synthesis between the formal and substantial aspects of morality. This, ultimately, could lead to an important overlapping consensus in the academic literature as to the role and relevance of virtuous conduct in business. (shrink)

The analysis of narrative processes and metaphorical language are the topics generally focused on by business ethics researchers interested in the work of Paul Ricœur. Yet his work on political questions also applies to the ethical issues associated with organizations. Ricœur’s ethical enterprise can be expressed as a triad composed of teleological, deontological, and sapiential levels, associating ostensibly opposing positions of Aristotelian and Kantian origin. In this study, I examine politics, economics, and ethics in their dialectic relation as established by (...) Ricœur. Against a vertical, mechanistic, and axiologically neutral vision of management, he opposes the two conceptual pairs of conviction/imagination and ideology/utopia as well as a superior definition of justice associating reciprocal indebtedness and mutual disinterestedness. Through this analysis, it becomes clear that the vertical, hierarchical nature of politics tends to undermine the horizontal interactions necessary to procure just institutions in society. And any business ethic that does not acknowledge political tensions will be mute. What is needed instead is practical wisdom that is developed through interaction, and often through conflict, involving all the different players. (shrink)

This paper describes differences in two perspectives on the idea of virtue as a theoretical foundation for positive organizational ethics (POE). The virtue ethics perspective is grounded in the philosophical tradition, has classical roots, and focuses attention on virtue as a property of character. The positive social science perspective is a recent movement (e.g., positive psychology and positive organizational scholarship) that has implications for POE. The positive social science movement operationalizes virtue through an empirical lens that emphasizes virtuous behaviors. From (...) a virtue ethics perspective, a behaviorally based account of virtue is a weak theory of virtue. Observations are suggested for integrating the two perspectives. First, virtue should always be understood as an excellence and is often an optimal point between extreme dysfunctions on continuum of potential states. Second, an empirical exploration of virtue needs to account for character and context. Finally, the properties of organization-level virtue need to be further specified and explored. Implications and directions for future research are discussed. (shrink)

Although Alasdair MacIntyre has criticized both the market economy and applied ethics, his writing has generated significant discussion within the literature of business ethics and organizational studies. In this paper, I extend this conversation by proposing the use of MacIntyre’s account of the virtues to conceive of management as a domain-relative practice that requires and develops practical wisdom. I proceed in four steps. First, I explain MacIntyre’s account of the virtues in light of his definition of a “practice.” Second, I (...) examine his distinction between “practices” and “institutions.” Third, I explain what I mean by a “domain-relative practice” and defend the claim that it is helpful to conceive of management in those terms. Finally, I highlight several features of practical wisdom as a virtue developed in and integral to standards of excellence within management as a domain-relative practice. (shrink)

This paper introduces ‘Virtue and Virtuousness: When will the twain ever meet?’ a special edition of Business Ethics: A European Review. The Call for Papers invited contributions that could inform the relationship between organisational virtuousness, as conceptualised by positive organisation studies, and the classical conception of virtues pertaining to individual women and men. While the resources of particular virtue traditions – Aristotelian, Catholic, Confucian, and the like – could inform their own debates as to whether virtue extends beyond individuals, the (...) debate between virtue traditions and positive organisation studies has a different dimension. The question is whether the claims of positive social sciences as such are compatible with those of any virtue tradition. We argue that positive social science and virtue traditions are indeed rivals such that adherence to the claims of the one precludes adherence to the other. Resolution to such conflicts requires that one tradition is able to resolve questions that exhaust the resources of the other. This paper suggests that at least one area of incoherence in the findings of positive social sciences can be resolved by virtue traditions, and introduces the remaining papers in the special edition. (shrink)

This paper develops a meta-theory of business based on virtue theory which links the concept of virtues, the common good, and the dynamic economy into a unifying and comprehensive theory of business. Traditional theories and models of business have outlived their usefulness as they are unable to adequately explain social reality. Virtue theory shows firms that pursue ethically-driven strategies can realise a greater profit potential than those firms who currently use profit-driven strategies. The theory expounds that the business of business (...) is ethical business and that the crises that business and society face today are crises of leadership and ethics. The issues of leadership and corporate social responsibility are discussed in the context of the proposed theory. (shrink)

Although virtues have gained a firm presence in the theory and practice of corporate management, humility is not ranked as one the chief virtues in the business world. In spite of this, it is an important virtue, contributing to the manager’s moral and professional quality and the development of the company’s human team. This paper explains the basic traits of humility in general and how they manifest in the manager’s life and profession, and shows, within the ethics of virtues, that (...) it is not just a personal desideratum but a fundamental quality of a good manager and good management. (shrink)

ABSTRACT:The language of virtue is gaining wider appreciation in the philosophical, psychological, and management literatures. Ethicists and social scientists aim to integrate normative and empirical approaches into a new “science of virtue.” But, I submit, they are talking past each other; they hold radically different notions of what a virtue is. In this paper, I shall examine two conflicting conceptions of virtue, what I call the reductive and the non-reductive accounts of virtue. I shall critically study them and argue that (...) the non-reductive view is the best philosophical account of virtue and the only one that can account for the way we talk about virtue in business and in everyday life. We can only understand what it means to act virtuously through the examination of the attitudes, beliefs, desires, and inclinations of the virtuous agent. I shall illustrate the differences between the reductive and non-reductive accounts by considering the virtue of gratitude. (shrink)

This book covers a broad spectrum of positions on practical reasoning—from the nihilist view that there are no legitimate forms of practical inference, and ...

For the past four decades, debate has occurred in respect of situational social psychology and virtue ethics. This paper attempts to reconcile this debate. Situationists propose a fragmentation theory of character (each person has a whole range of dispositions, each of which has a restricted situational application) and do not subscribe to a regularity theory of character (behaviour is regulated by long-term dispositions). In order to support this view, they cite a number of experiments. It is proposed that the substantive (...) claims made by situationist social psychologists, for the most part, do not undermine or disagree with an Aristotelian virtue ethics perspective, but stem from a misunderstanding of concepts of moral character, faulty conclusions and generalizations in respect of experimental results. Situationists take a narrow view of character and morality. Evidence from organizational behaviour and managerial research literature supports the view that both situational (organizational) features and inner characteristics (including virtues) are powerful influences and determinants of morally upright and morally deviant behaviour. The role of practical judgement in bridging these views is discussed. As a way forward in reconciling situational social psychology with virtue ethics, the paper proposes an Aristotelian–Thomistic framework to overcome some of the problems associated with inadequate regulative ideals in building a normative moral theory. (shrink)

Discourse about knowledge-based economies rarely moves beyond the commercialization of science and engineering, and is locked in the discursive limits of functionalism. We argue that these discourses limit the scope of what knowledge-based economies might achieve because they are uninformed by an adequate conception of knowledge. In particular, knowledge management and knowledge-based economy discourse has not included the axiological dimension of knowledge that leads to wisdom. Taking an axiological perspective, we can discuss policy frameworks aimed at producing the social structures (...) needed to bring fully formed and fully functioning knowledge societies into being. We argue that while the dominant discourse of industrial modernity remains rationalist, functionalist, utilitarian and technocratic, knowledge-based economies will resemble a savant rather than a sage. A wisdom-based renaissance of humanistic epistemology is needed to avoid increasing social dysfunction and a lack of wisdom in complex technological societies. (shrink)