The author posits that greed and insensitivity to the needs of others are corrosive values that have engendered the global economic crisis. Examples are cited to support the thesis that it is primarily an ethics crisis that has resulted in the distortion of the US economy, such that the middle class is sliding into poverty while the wealthiest 1 per cent is ever more powerful and wealthy. The irony of the predatory capitalism being practised is that it is ultimately self-destructive (...) to the practitioners. The unsustainability of the present system is discussed along with solutions, including stakeholder management, corporate and personal altruism and spiritual awakening. (shrink)

The article focuses on the ‘meaningfulness in work’ concept and addresses three theoretical gaps by investigating ‘meaningfulness in work’ from the perspective of Heidegger’s ‘authenticity’ and ‘Dasein’ constructs as well as virtue ethics. First, it adapts Heideggerian phenomenology and argues that meaningfulness in work may be revealed to an ‘authentic’ employee, while they performs everyday activities by ‘existing’ in their world and discovers their Dasein. Second, it emphasizes the normative, as opposed to instrumental implications of meaningfulness and invokes virtue ethics (...) towards this end. Third, it integrates the Heideggerian approach with virtue ethics to describe how an ‘authentic’ and ‘virtuous’ employee may achieve meaningfulness in work (conceptualized as ‘eudaimonia’). An ‘authentic virtuous employee’ ‘exists in their world’ and discovers what is truly meaningful in work to them. They also displays temperance and courage in terms of closing the gaps between current and desired levels of meaningfulness in work, and continually contemplates it. We describe a ‘professional’ as an example of an ‘authentic virtuous employee’. (shrink)

The author offers a modification and extension of existing organizational transformation approaches by drawing on values-oriented and stakeholder management paradigms currently popular in literature. Many of the current values-based change paradigms offer vague guidance as to how to actually create, implement and sustain a strategically and operationally excellent organization as an extension of a stakeholder-based cultural mindset. Sharing the belief that organizations should be operationally and strategically sound in addition to being stakeholder centred, the suggestions presented represent an attempt to (...) combine the altruism of stakeholder-based management with practical organizational transformation theory to suggest steps for transformation. The approach suggested here, which places a primary emphasis on the organization's moral standing from the individual employee's perspective, is also supported by existing literature on the need for values congruence between organizations and individuals. Thus, the paper's central premise is that organizational transformation, commonly called OT, should begin with a cultural transformation, aimed at raising the level of moral reasoning of the firm as a necessary precursor to a subsequent operational and strategic transformation. (shrink)

The paper anticipates increasing unethicalness of business in a hyper-competitive climate. An attempt is made to rediscover a core set of values and virtues reflective of traditional ethics to combat the crisis of business morality. The proposal for the 'common morals' view of ethics steers clear of the theoretical opposites of Kantian and Utilitarian ethics which seem to have little practical bearing on actual decision-making. The author quotes the findings of a research study in which 86 per cent of the (...) corporate executives were found to use traditional methods like prayer, meditation and scripture reading to enhance their moral imagination, to sharpen their judgment and to strengthen their sense of duty. Further, he advocates a culture of reward and punishment which reinforces moral excellence. According to him, 'leading by example' is the most important requisite for ethicality in organizations. (shrink)

The author posits that the value of individual freedom is best realized within the context of the Moral Imagination concept of philosopher Rudolph Steiner and that when freedom is seen more as a licence for deception and exploitation not only does the greater community suffer but also the party itself suffers character destruction. Thus, laissez-faire capitalism, as exemplified by the mortgage banking meltdown of 2008 and subsequent debt-based unemployment crisis, has not only impoverished millions, destroyed savings and bankrupted long-established investment (...) firms, but also has further bonded the perpetrators to the morally undeveloped self-centredness of Lawrence Kohlberg’s least advanced moral stage. Following a discussion of the folly and futility of the consumerist culture, the author argues that the solution lies in practicing the time tested values of caring and social responsibility on the part of government and mortgage bankers coupled with self-restraint and moderation on the part of investors and borrowers. (shrink)

This article addresses the issue of whether the traditional values of charity and philanthropy are ethically recommended, and how they may be reconciled with the sometimes contradictory profit maximization value of the capitalist ‘free market’.1 That is, what place does charity have in the context of the free market where profit maximization is the ruling value? In answering this question, the article contrasts the effects of ‘no mercy’ with that of ‘mercy’ behaviour on overall utility maximization, and argues that what (...) may be best ultimately from an economic efficiency point of view may not in fact maximize overall net utility when defined qualitatively to include social capital such as psychological states and other quality of life indicators. The ethical imperative of love for one's fellow humans is also considered in the debate between the two approaches. To address this point, I introduce the concept of ‘loving altruism’, and in this context make the case for charitable acts of mercy that may nonetheless result in a loss of economic utility in a larger sense. The article concludes that there is a valid place for both charity and philanthropy at either the individual or corporate level, and that the efficiency loss may or may not be outweighed by the gains in overall life quality. The ultimate net outcome would be determined by the specifics of each particular case after an explicit consideration of the need for altruism. The article ends by suggesting an application of Aristotle's ‘Golden Mean’ in determining the optimal level of charity. (shrink)