Are success and survival factors the same for social and business ventures?

Despite the growing interest in social entrepreneurship, there exist gaps in research that compares traditional business-oriented entrepreneurship with the social kind. This study attempts to fill the gap by answering the following questions: Are there significant differences between the survival chances of business and social ventures? and Do the traits of the entrepreneur and the firm play the same role as success factors for both types of venture? Hypotheses are tested using data collected from 2,179 firms. The results show that significant differences exist between social and business-oriented entrepreneurship in the form and intensity of the independent variables related to survival.     

Does size matter? The state of the art in small business ethics

In this paper the exclusive focus on large firms in the field of business ethics is challenged. Some of the idiosyncrasies of small firms are explained, and links are made between these and potential ethical issues. A review of the existing literature on ethics in small firms demonstrates the lack of appropriate research, so that to date we can draw no firm conclusions in relation to ethics in the small firm. Recommendations are made as to the way forward for small firm business ethics research. Questions for investigation are suggested using micro, meso and macro perspectives. Much exploratory work needs to be done to lay the groundwork for this important area of social and commercial research in the future.     

A bar too high? On the use of practical wisdom in business ethics

In the business ethics literature, many argue that managerial decision making ought to be improved by more robust ethical concerns. Some see the virtue of “practical wisdom” as the key for improved managerial decision making. However, because of the epistemic limitations confronting decision makers in the face of irreducible market complexity, there is a risk that practical wisdom, employed in the context of day-to-day managerial decision making, becomes an impractical concept. Nevertheless, if the attempt to incorporate virtue ethics (and its related concepts) into business practices is laudable, if indeed a virtuous life is worth pursuing and practical wisdom plays an essential role toward that end, it is important to attempt to salvage practical wisdom and uncover its appropriate usage. Thus, this article pursues two major ends. First, upon surveying some of the prominent and standard usages of the term, it articulates concerns, rooted in epistemic limitations, about the way that practical wisdom appears in business ethics literature. Second, it offers a new way forward for understanding “practical wisdom.” By contextualizing day-to-day, rule-based managerial decision making within the ethical value of the market order, practical wisdom reappears as the higher-order capacity to pursue vocations, as morally worthwhile projects, in business.     

Why and how should SHE make her way into the family business boardroom?

The most successful and longest-enduring family firms are progressively encouraging the active presence of women on their corporate boards. Why is the presence of women on boards so important for family firms? And how can policy makers and controlling owners encourage the active presence of women on family business corporate boards? By integrating the literature on women in governance and the goals of family businesses, we take a step toward increasing shareholder awareness of the economic and noneconomic benefits that women can bring to the family business boardroom. Using theory and empirical evidence, we show that the presence of women on corporate boards can be instrumental for the controlling owners of a family business to achieve prosperity and success, to preserve family cohesion, and to improve the reputation of the family and business simultaneously. Furthermore, we discuss the socioemotional and economic ramifications of excluding women from the family business board of directors. We conclude with four practical recommendations for encouraging the active presence of women on family business boards.     

Zimbardo's “Stanford Prison Experiment” and the relevance of social psychology for teaching business ethics

The prevailing pedagogical approach in business ethics generally underestimates or even ignores the powerful influences of situational factors on ethical analysis and decision-making. This is due largely to the predominance of philosophy-oriented teaching materials. Social psychology offers relevant concepts and experiments that can broaden pedagogy to help students understand more fully the influence of situational contexts and role expectations in ethical analysis. Zimbardo's Stanford Prison Experiment is used to illustrate the relevance of social psychology experiments for business ethics instruction. F. Neil Brady is an Associate Professor of Management at San Diego State University. He has published a dozen articles in the field of business ethics, three of which have appeared in the Academy of Management Review. Jeanne M. Logsdon is an Assistant Professor of Management at Santa Clara University. Her research on various aspects of corporate social performance has appeared in the Journal of Business Ethics, Research in Corporate Social Performance and Policy, and California Management Review.     

Entrepreneurship and failure: two sides of the same coin?

Small Business Economics - This paper attempts to shed light on the nexus of relationships existing between failure, bankruptcy, institutional context, and local characteristics on one hand and...     

Conclusion: Korean business and management – the end of the model?

Recent financial crisis has raised questions about the underpinnings and longevity of economic success in Asia, and has reminded us to be sceptical of pundits and the eponymous populist predictions relating to the region. Several perspectives can guide the analysis and evaluation of industrialization, from ‘state’ versus ‘market’, ‘internal’ versus ‘external’, and ‘macro’ versus ‘micro’. Companies in Korea as ‘latecomers’ have pursued ‘catch-up’ strategies. However, Korean corporate capabilities reside in a restricted number of industries, firms and functions (production), and are poor elsewhere, such as in marketing, technology (design and development) and organization, and small and medium-sized enterprises. Furthermore, many factors regarded once as sources of Korea's success are now seen as weaknesses. The future challenges facing Korea include its dirigiste economy, organizational structures and governance, financial transparency and labour market flexibility. While there are undoubted problems, its urgent tasks are not insurmountable.     

How should managers treat ethics in international business?

Business ethics concern the consideration of moral in corporate decision making. International managers may be confronted with a variety of ethical dilemmas, usually due to differences among national markets in what constitutes legal or acceptable practice. Beliefs about what constitutes ethical business behavior commonly stem from one of four moral philosophies: teleology, deontology, the theory of justice, and cultural relativism. A framework incorporating all four is presented here which should provide a useful decision tool for international managers. An application of the framework and the complexities associated with it are presented next. We conclude that an effective integration of the company's perspective on ethics and the business behavior of the employees is critical and that it depends on top management, and the entire organization, demonstrating that they are serious about ethical business behavior on an ongoing basis. © 1998 John Wiley & Sons, Inc.     

Are business‐to‐business relationships inherently unstable?

The intangible nature of relationships makes for certain difficulties in analysing both “relationships;” themselves and the circumstances in which they might exist. Using an adaptation of Bosiot's I Space, it is suggested that relationships may often effectively be the product offered in business‐to‐business relationships. However, the combination of market forces and the behaviour of managers is identified as the source of the instability of relationships.     

Are they playing by the same rules? A consumer gifting classification of marital dyads

This article sets out a research program that examines the dynamics of gifting behavior of long-term committed dyadic relationships—married couples. Our research considers the findings of a study in which the reported gifting behavior of couples reveals two gifting rulebooks; the first rulebook consisting of a set of symbolic communication rules, and a second rulebook consisting of economic exchange rules. Most importantly, we develop a consumer gifting classification of marital dyads. Finally suggestions are offered for future research and implications are drawn for marketing strategy.     

What is business ethics? A reply to peter drucker

In his What is Business Ethics? Peter Drucker accuses business ethics of singling out business unfairly for special ethical treatment, of subordinating ethical to political concerns, and of being, not ethics at all, but ethical chic. We contend that Drucker's denunciation of business ethics rests upon a fundamental misunderstanding of the field. This article is a response to his charges and an effort to clarify the nature, scope and purpose of business ethics.     

Not for turning? Power,institutional ethos and the ethics of irreversibility

Adoption of an ‘ethics of reversibility’ can seem fashionably enlightened, even democratic, but appears less radical when issues of power are opened up. Adopting the motif of keeping, this paper sets its questioning of an on-going individuation of ethics within the context of an insidious reduction of institutional mores to business parlance. Keeping Derrida's ‘philosophy of reversals’ in view, the discussion resists the double bind of attempts to make higher-level decisions ever more ‘irreversible’ on the one hand, while devolving ethical responsibilities for outcomes downwards on the other. In criss-crossing, back and forth, on variations of these themes, the aim of the paper is to contest a division of moral labour in which the more powerful style themselves as ‘not for turning’, while those dispossessed of authority are left to vacillate within the market agendas of flexibility and transparency.     

Are business groups different from other family firms? Evidence from corporate investments during political uncertainty

Using a large sample of Indian family firms, we examine the investment behaviour of group-affiliated family firms versus standalone family firms during local state elections. While state elections negatively affect corporate investments, family firms invest more than non-family firms. Therefore, using a difference-in-difference estimation, we find that group-affiliated family firms invest significantly more than standalone family firms. Additionally, we find no evidence of distortive investments by group-affiliated family firms due to political pressure; rather, it appears that the unique structure allows these firms to make value-relevant investments when other firms adopt a conservative approach. Overall, our study improves the understanding of family firm investments during periods of political uncertainty.     

‘What's so special about family business?’ An exploratory study of UK and Irish consumer experiences of family businesses

While family‐owned businesses are considered to have specific advantages in customer relationships, limited research has been conducted into how these abilities are developed or understood by the public. Consumers may indeed perceive family businesses differently from non‐family businesses, but this aspect has received scant attention within the literature. This paper sets out exploratory work designed to gain an understanding of Irish and UK consumer perceptions of family‐owned businesses, within both urban and rural communities. The study provides insight into the meaning of ‘familiness’ in consumers' minds when linked to family businesses, and explores the relationships and experiences that respondents have of family firms. Emerging issues include family business heritage, community bonds and social stewardship, consumer loyalty and generational transfer, distinction, choice and retail heterogeneity. The findings of this exploratory study suggest that researchers should be paying more attention to the positive aspects of family businesses within communities, and concludes with suggestions for future research to further extend this area of study.     

Are the Direct and Indirect Growth Effects of Remittances Significant?

Development economists believe that migrant workers’ remittances are an important source of funds for long‐run growth. Therefore, recent studies have investigated the growth effects of remittances but reached different conclusions. In these studies, the rate of growth of output is simply regressed on both remittances and the channels through which remittances affect growth. Thus, no distinction has been made between the indirect and direct growth effects of remittances. Such regressions may give unreliable estimates because the channels may also capture some growth effects of remittances, making the growth effects of remittances insignificant. In this study, we make a distinction between the indirect and direct growth effects of remittances. Our model is estimated with panel data of 40 high remittance recipient countries with the system generalized method of moment. We found that remittances have no direct growth effects but they have small indirect growth effects.     

An irreconcilable crisis? The paradoxes of strategic operational optimisation and the antinomies of counter-crisis ethics

For good reasons we often think about ethics and strategy as two opposing categories. But as surfaces in which we see social practices reflected, as abstract planes in which social consciousness resides and which subjectivities reinvent, they share some deep and perhaps uncomfortable similarities. In this paper, we question whether they are irreconcilable categories and, through a discussion of the paradoxes of strategy and the antinomies of ethics, we examine their fraught relationship in current economic responses to the crisis. First, we outline the discursive topographies of strategy and ethics in respect to their abstract relations, and examine their integument in business ethics and strategy in context. Then, we show how there cannot be a simple coexistence of these two categories in organisational practice: one must in fact be subordinate to the other, although this subordination can produce the persistence of the other, even in its negation. Finally, we conclude that the asymmetrical nature of ethics and strategy entails that whereas ethics can immanently give rise to strategy, strategic questions on their own can only produce anti-systemic ethical responses.