On economics and business ethics

Economics has an impoverished view of virtuous human behaviour in general, and corporate social responsibility in particular. We claim that this is due to a particular, albeit currently dominant approach to economics. This approach focuses on the pursuit of wealth through efficient allocation of scarce resources by 'rational' utility-maximizing economic agents and institutions, such as markets, firms and states, in the exclusive pursuit of 'efficiency'. This results in an ethic-free and often inimical approach to virtuous behaviour. However, a different approach to economics, which focuses on sustainable global resource creation and allocation, asserts virtuous responsible behaviour to be part and parcel of economic analysis and performance.     

Quantitative content analysis as a method for business ethics research

The aim of this article is to discuss quantitative content analysis as established in communication sciences as a method for research in business ethics. We argue that communication sciences and business ethics are neighboring disciplines, which allow the transfer of quantitative content analysis from communication sciences to business ethics. Technically, quantitative content analysis can be applied through human as well as software coding. Examples for both applications are provided and discussed. We make reference to the software solutions ‘Leximancer’, ‘Crawdad’, and ‘Wordle’, and examine their suitability and limitations with regard to ethical questions for researching business ethics. We recommend a mixed-method approach, combining human and software coding. Furthermore, we propose a three-step process that discusses quantitative content analysis as a method for business ethics, including an ethical research objective, and most importantly, concluding with ethical reasoning and interpretation of the quantitative results.     

The Great Gatsby as a business ethics inquiry

The author argues for the use of F. Scott Fitzgerald's novel,The Great Gatsby, as a text for studying business ethics. The author presents a documented analysis of the major ethics themes in the book including, for example, moral growth, Gatsby's life of illusion, the withering of the American Dream, and the parallels between the 1920s and the 1980s. Fitzgerald's fiction analysis is then tied to the '90s via current social science and philosophical evidence addressing Fitzgerald's 1920s concerns. Data examining the incidence of lying in contemporary American life, a review of Lawrence Kohlberg's theory of moral development, and data-based studies of wealth distribution in America are among those strands of evidence. The article concludes with a brief look at students' responses toGatsby in a legal and social environment of business course.In effect, the author presents a lesson plan for teachingThe Great Gatsby as a general introduction to ethics and American values. As such, theGatsby discussion is designed to precede a more pragmatic and specific inquiry employing conventional business cases and the like.Tony McAdams is professor of business law in the Management Department at the University of Northern Iowa. Professor McAdams' articles have been published in theHarvard Business Review and theAcademy of Management Review, among other journals, and he is the principal author of the text,Law, Business, and Society. He received the 1978 Distinguished Teaching Award from the student government at the University of Kentucky.     

The business of ethics and the ethics of business

This is an essay in personal business ethics of executives as distinguished from the institutional ethics of corporations. Its purpose is to give practical moral guidance to executives for the conduct of their lives both as corporate decision-makers and as human beings. The pivotal concept in this model of personal business ethics is a direct appeal to the self-interest of executives in their being moral. Our thesis is that generally there is a twofold return on investment in ethics (ROIE) for executives. The first one is related to employee output: by becoming a self-actualizing moral type, executives indicate commitment to excellence. Accordingly, they so manage employees that the latter can also live up to their full potential and excell. And that would increase corporate productivity and product or service quality. The second payback of morality is personal: fully developed, self-actualized managers are generally happier people than those whose growth has been arrested. In brief, moral self-actualization is the same as commitment to excellence and there is a payback in being the best. Return on investment in ethics and return on investment in excellence can both be abbreviated as ROIE. We accomplish the purpose and establish the thesis of this essay by seeking answers to the following questions: What business does ethics have in business? What business does business have in ethics? Is there a return on investment in ethics for executives? and Does being moral help executives become more effective managers? In sketching answers to these questions, we first show why executives need a personal business ethics especially in today's world. Then, we sketch the nature of ethics and of business. After these introductory materials, the body of the paper argues for a personal business ethics for executives by correlating elements of management theory with ethics. Specifically, it links a theory of employee motivation with a scale of values, management character types with moral types, and management leadership styles with morality. Then, the practical technique of life by objectives (LBO) is explained. It can help executives manage their lives more effectively in both the business and ethical sense. We conclude by explaining ideals of excellence which can guide executives in their work and development both as managers and as human beings.     

Theological ethics and business ethics

Philosophers have constituted business ethics as a field by providing a systematic overview that interrelates its problems and concepts and that supplies the basis for building on attained results. Is there a properly theological task in business ethics? The religious/theological literature on business ethics falls into four classes: (1) the application of religious morality to business practices; (2) the use of encyclical teachings about capitalism; (3) the interpretation of business relations in agapa-istic terms; and (4) the critique of business from a liberation theological point of view. Theologians have not adequately addressed the questions of whether there are particular theological tasks in the field as they define it, and whether, if they define it, the theological definition is different from the philosophical.     

Small business economics

The paper presents an overview of small-business economics. Small businesses are shown to comprise a substantial and expanding segment of the U.S. economy. The role of small businesses in the economy is considered from the standpoint of various economic theories of the size distribution of firms. Firm-size related empirical regularities are reviewed and their implications for economic theory is discussed. Several small-business policy issues are discussed, including the role of small businesses in labor, macroeconomic, and regulatory policies, along with a review of research on small-business economics that might help guide these policies.We wish to thank Zoltan J. Acs and an anonymous reviewer for helpful comments.     

Transatlantic business ethics

The Business Ethics Center of the Budapest University of Economic Sciences organized a Transatlantic Business Ethics Summit on September 15–17, 2000 in Budapest, Hungary. The Summit was sponsored by the Community of European Management Schools (CEMS) and Procter & Gamble.
The main function of the Summit was to provide a forum for leading American and European scholars to explore the background theories and value bases of business ethics from the perspective of the 21st century. The participants reflected on the state of the art of business ethics as it has been practised in the USA and Europe; however, the future of business ethics as a discipline was the main focus of the Summit. Since business ethics is closely related to business and capitalism, some considerations of the 21st century economic, political, and social reality were presented too. The paper is based on and composed from the abstracts provided by the participants of the Transatlantic Business Ethics Summit. The abstract booklet can be obtained from Laszlo Zsolnai, the Convenor of the Summit.     

Professionalism: Foundation for business ethics

Professionalism includes the essential contents of other key notions within the field of business ethics. As a term involving the notion of vocation it may be understood as containing a religious content, since vocation refers to a man's most intimate personal decisions, destiny and providence. Professionalism also connotes respect for law and so includes a reference to commercial law as a guide to right conduct. Professionalsim thus lifts the requirements of law to the level of personal commitment.Like an honest act, professionalism may not be easy to define, but you will know it when you see it. As for professionalism's practitioners, like the practitioners of honesty, their art is learned not by seeking definitions of what they do, but by practicing professionalism. Only if this practice becomes an obsession with the Business Aristocracy can we expect professionalism to seize the soul of lesser businessmen and suffuse the entire business community. Thomas E. Schaefer, Ph. D., is Professor of Business Administration at the University of Texas, Permian Basin. He was formerly Head of the Department of Business Administration, University of Alaska, and Dean of Business Administration, Sacred Heart University, Puerto Rico. He has received a Private Sector Award of Pres. Reagan for Extraordinary Contributions to Small Business. His most important publications are: The Process of Management: What Supervisors Do (O.C. Press, 1982); Leadership Through Followership, Business Horizons (September/October, 1982) and many others.Paper presented at the 16th Conference on Value Inquiry, entitled: Ethics and the Market Place: An Exercise in Bridge-Building or On the Slopes of the Inteface.     

Christ and business: A typology for Christian business ethics

H. Richard Niebuhr's typology of the relation between Christ and culture can function as a heuristic device to identify different approaches to Christian business ethics. Five types are outlined: Christ Against Business, The Christ of Business, Christ Above Business, Christ and Business in Paradox, and Christ the Transformer of Business. This typology may facilitate discussion on the relative adequacy of various theological assumptions about ethical change in business. Louke Siker received her Ph.D. in Religion and Society from Princeton Theological Seminary in 1987 (dissertation: Interpreting Corporate Cultures: Philosophical and Theological Reasons for Doing Business Ethics in a Hermeneutical Mode). She has taught Christian ethics and business ethics at Wake Forest University and Loyola Marymount University. Her research interests include methodology in business ethics. She is the author of An Unlikely Dialogue: Barth and Business Ethicists on Human Work, Annual of the Society of Christian Ethics, 1989.     

Is there any ethics in business ethics

It is argued, against Richard T. De George, that while clarification of concepts, implications, and presuppositions in business ethics largely relies on a neutral territory of reason, determination of what moral intuitions are correct depends on non-neutral ethical theories. The latter posit ethics in business to varying degrees. Thus while the Kantian and utilitarian ethical theories are, for De George, proper (philosophical) approaches to business ethics, they are as reliant on affirming and encouraging moral sentiments outside parameters of pure reason as theological approaches. And hence if theological approaches can make no unique contribution by virtue of relying on more than reason or experience alone, then philosophical approaches can make no distinctive contribution either. Either both are viable or neither are. Oscillation between the mutually dependent notions of business ethics and ethics in business obfuscates what the field of business ethics is and renders De George's position inadequate.Robert Trundle, Jr., received his Ph.D. at the University of Colorado, and is Assistant Professor of Philosophy at Northern Kentucky University where he teaches Business Ethics. He has worked at such companies as Stearns-Roger and Rogerson-Hiller Corporation where he was a member of the Hazardous Materials Safety Committee.     

Marxism and business ethics

I explain how a Marxist would understand and respond to the phenomenon of business ethics. In Section I, I maintain that a Marxist would supplement traditional explanations of the increased interest in business ethics by an emphasis on class needs created by a situation of declining profits. I argue, in Section II, that business ethics might be used to address two needs created by this situation: (1) to legitimate the system of capitalist production: and (2) to discipline individual members of the bourgeoisie so that they will refrain from pursuing their individual interests when these conflict with the interests of their class. In Section III, I argue that there is no guarantee that business ethics will develop to meet these class needs, and that the questions to which an interest in business ethics gives rise may themselves lead to serious and effective criticism of business.An earlier version of this essay was read at a meeting of the Society for Business Ethics, American Philosophical Association (Boston, 28 December 1980), and I am grateful to the participants, especially George Brenkert, for their helpful discussion. The position I present has also benefited from comments on that earlier version by David Bayless, David Schweickart, and Daniel Wikler. I would especially like to thank Thomas Donaldson and Richard W. Miller both for their comments on this paper and for discussions of the topics of Marxism and business ethics.     

The ethics of business intelligence

A review of the strategic management, policy, information management, and the marketing literature reveals that many large and medium sized companies now collect and use business intelligence. The number of firms engaging in these activities is increasing rapidly.While the whys and hows of this practice have been discussed in the academic and professional literature, the ethics of intelligence gathering have not been adequately discussed in a public forum. This paper is intended to generate discussion by advancing criteria which could be used as the basis for judging actions of those involved in business intelligence and for creating reasonable policies in this sensitive area of practice.Norm Schultz is an Associate Professor in the Department of Accounting and Taxation at Colorado State University.Allison Collins is an Assistant Professor in the Department of Accounting and Taxation at Colorado State University.Mike McCulloch is an Assistant Professor in the Department of Philosophy at Colorado State University.     

The financialisation of business ethics

Business schools have become implicated in the widespread demonisation of the financial classes. By educating those held most responsible for the crisis – financial traders and speculators – they are said to have produced ruthlessly talented graduates who have ambition in abundance but little sense for social responsibility or ethics. This ethical lack thrives upon the trading floor within a compelling critique of the complicity of the pedagogy of the business school with the financial crisis of the global economy. An ethical turn within the curriculum is now widely encouraged as a counteractive force. Within this paper, however, we argue that taking this ethical turn is not enough. For business ethicists to learn from the financial crisis, the crisis' legacy needs to be taken account of, and financialisation needs to be taken seriously. Pedagogical reform cannot bracket itself off from the crisis as if it were coincidental with or separate from it. Post-crisis pedagogy must rather take the fact that it is requested now, in light of the crisis, as its very point of departure. The financial crisis must not be understood as something to be resisted in the name of Business Ethics. Instead, the financial crisis must be understood as the very foundation for contemporary Business Ethics in particular and for contemporary business and management education more generally.     

Economic efficiency: A paradigm for business ethics

Current teaching, writing and thinking in business ethics reflects (more than) a tendency to subsume business into the theoretical, idealistic and impractical objectives of philosophical ethics. Professors Primeaux and Stieber argue against this tendency. They propose the basic business model of economic efficiency as a practical and appropriate paradigm for business ethics. Understood from a behavioral perspective, economic efficiency reflects all of the ethical considerations of the academic study of philosophical ethics, but in a much more concrete and applicable manner. In effect, they are proposing that any study of business ethics defines its starting point and focus of reference in terms of economic efficiency. qu]Is there a need for business ethics? Yes, of course! Can business ethics be taught? Well, yes. But ... But, what? But, how?