This article considers financial risk management practice using a virtue ethics lens, in response to ongoing critiques of risk management from within business ethics. Risk management should be seen as embedded within a complex system of cultures, organizations and regulations that are underpinned by a quantitatively reductive or ‘mechanistic’ economic paradigm, where dominant logics of self-interest, profit maximization and short-termism prevail. Building on recent work applying virtue ethics in finance, an alternative to the values, normative expectations and priorities in financial (...) risk management is presented in the form of a refined ‘taxonomy’ of the virtues that can be applied to individuals and organizations engaged in financial risk management. This article aims to contribute to and extend debate on the ethical aspects of risk management and presents an alternative to more technically based critiques which do not engage with the underlying socially constructed foundations of risk management practice. It thereby provides a basis to critique the mechanistic and narrow approach used in the current regulation of the sector. (shrink)

In this article, we conceptualize the under investigated and under theorized relationship between intimate partner violence (IPV) and business responsibility. As an urgent social issue, IPV—understood as abuse of power within the context of an intimate partner relationship, mainly perpetrated by men and involving a pattern of behavior—has been studied for decades in many disciplines. A less common yet vital research perspective is to examine IPV as it relates to the business and to ask how organizations should engage with IPV. (...) In response to this question, we contribute a framework drawing from two distinctions in the business responsibility scholarship: the assumed role of the organization (responsibility to the firm/market; responsibility to the broader socio-political-economic environment); and the second focused on the approach to conceptualizing ethics (justice/fairness; ethics of care). Thus, we explicate four approaches to business responsibility and IPV, which serve the purposes of mapping three selected contributions, identifying limitations of these approaches, and opening up future research opportunities. (shrink)

Asbestos-related illnesses contribute to the deaths of more than 100,000 people worldwide (ILO 2006) and the plight of sufferers of these illnesses has become a global ethical issue. A leading, Australian building products corporation, James Hardie, created a complex corporate structure that included the establishment of a “Victims Compensation Fund”, and moved its corporate headquarters to the Netherlands to reduce its liabilities. Hardie claimed that this move was tax minimization (Haigh 2006). In this study case, a number of ethical issues (...) provides the opportunity to discuss many business-society questions. These include the duties of the company towards a wide range of stakeholders affected in some way by Hardie’s earlier production of asbestos-related products and its subsequent responses to the question of compensation. (shrink)

This article examines the potential for moral agency in human resource management practice. It draws on an ethnographic study of human resource managers in a global organization to provide a theorized account of situated moral agency. This account suggests that within contemporary organizations, institutional structures—particularly the structures of Anglo-American market capitalism— threaten and constrain the capacity of HR managers to exercise moral agency and hence engage in ethical behaviour. The contextualized explanation of HR management action directly addresses the question of (...) whether HRM is inherently unethical. The discussion draws on MacIntyre’s conceptualization of moral agency within contemporary social structures. In practice, HR managers embody roles that may not be wholly compartmentalized. Alternative institutional structures can provide HR managers with a vocabulary of motives for people-centred HRM and widen the scope for the exercising of moral agency, when enacted within reflective relational spaces that provide milieus for critical questioning of logics and values. This article aims to contribute to and extend debate on whether HRM can ever be ethical, and provide a means of reconnecting business ethics with longstanding concerns in critical management studies. (shrink)