Sandberg documents with admirable precision nine rather diverging renderings of Freeman’s call for the rejection of the separation thesis (ST). A more careful consideration of the propriety of importing phrases such as “the rejection of ST” from more established academic disciplines so as to serve in the field of normative business ethics would seem to make that precision premature and maybe even superfluous. This may well be generalized to an observation concerning current working methods in normative business ethics.

Pragmatists believe that philosophical inquiry must engage closely with practice to be useful and that practice serves as a source of social norms. As a growing alternative to the analytic and continental philosophical traditions, pragmatism is well suited for research in business ethics, but its role remains underappreciated. This article focuses on Richard Rorty, a key figure in the pragmatist tradition. We read Rorty as a source of insight about the ethical and political nature of business practice in contemporary global markets, focusing specifically on his views about moral sentiments, agency, and democratic deliberation. Importantly for business ethicists, Rorty’s approach sets in stark relief our moral responsibility as useful, practical thinkers in addressing the societal challenges of our time. We use “modern slavery” as an empirical context to highlight the relevance of Rorty’s approach to business ethics.

Business ethics in China is highly politicized, both within China as well as on the global scene. Over the past years many issues of business ethics have arisen. It turns out that the Chinese often have a different set of ethical priorities with respect to the economy than do their Western counterparts. China possesses rich and well-developed ethical traditions that provide a meaningful basis for evaluating its own problems. This article reviews China’s ethical heritage and, at the same time, takes note of Western ethical concerns of human rights, property and so forth that have been injected into the debate. The article further reviews the principal issues of ethical analysis and, within the context of China/U. S. inter-relations, suggests ethical paths to pursue on four levels: government to government, multinational corporations, interest groups and international fora, and individual initiatives and commitment.

According to the market failures approach to business ethics, beyond-compliance duties can be derived by employing the same rationale and arguments that justify state regulation of economic conduct. Very roughly, the idea is that managers have a duty to behave as if they were complying with an ideal regulatory regime ensuring Pareto-optimal market outcomes. Proponents of the approach argue that managers have a professional duty not to undermine the institutional setting that defines their role, namely the competitive market. This answer is inadequate, however, for it is the hierarchical firm, rather than the competitive market, that defines the role of corporate managers and shapes their professional obligations. Thus, if the obligations that the market failures approach generates are to apply to managers, they must do so in an indirect way. I suggest that the obligations the market failures approach generates directly apply to shareholders. Managers, in turn, inherit these obligations as part of their duties as loyal agents.

Tackling grand challenges requires coordination and sustained effort among multiple organizations and stakeholders. Yet research on stakeholder theory has been conceptually constrained in capturing this complexity: existing accounts tend to focus either on dyadic level firm–stakeholder ties or on stakeholder networks within which the focal organization is embedded. We suggest that addressing grand challenges requires a more generative conceptualization of organizations and their constituents as stakeholder systems. Using the metaphor of ballet and insights from dance theory, we highlight four defining dimensions of stakeholder systems (two structural and two dyadic); we proceed to offer a dynamic model of how those dimensions may interact and coevolve. Our metaphor and resulting theory of stakeholder systems are thereby well equipped to incorporate the complexity of tackling grand challenges, where many contemporary stakeholder arrangements are oriented around issues rather than firms.

In this article, I want to draw attention to one strand of the complex web of processes that are involved when people group others, including themselves, into social categories. I will focus on the tendency to treat members of one’s own group more favorably than nonmembers, a tendency that has been called ingroup favoritism. The structure of the article has three parts. First I will offer an evolutionary argument as to why ingroup favoritism, or something very much like it, is required by theories of the evolution of altruism. I will then review some of the basic social psychological research findings dealing with social categorization generally, and ingroup favoritism specifically. Finally, I will examine two problems in business ethics from the point of view of ingroup favoritism to suggest ways in which social psychological principles and findings may be mobilized to help solve problems of racial or gender discrimination in business contexts.

This paper explains and defends three basic propositions: (1) that our attitudes (particularly American attitudes) toward organizational ethics are conflicted at a fairly deep level; (2) that in response to this conflict in our attitudes, we often default to various counterfeits of conscience (non-moral systems that serve as surrogates for the role of conscience in organizational settings); and (3) that a better response (than relying on counterfeits) would be for leaders to foster a culture of ethical awareness in their organizations. Some practical suggestions are made about fostering such a culture, and a comparison is made between this late-20th-century response to the problem of counterfeits and the classic “naturalistic fallacy” identified in early-20th-century ethics by G. E. Moore.

It is argued that virtuous peers in work organizations have two elements of character no matter what the nature of the goods the organization produces: loyalty to common projects for their own sake and trustworthiness. Each of these is shown to be a uniquely human attribute, an element of character that contributes to a life well lived, and a trait that leads to the flourishing of an entire work community.

A predominant assumption in studies of deliberative democracy is that stakeholder engagements will lead to rational consensus and to a common discourse on corporate social and environmental responsibilities. Challenging this assumption, we show that conflict is ineradicable and important and that affects constitute the dynamics of change of the discourses of responsibilities. On the basis of an analysis of social media engagements in the context of the grand challenge of plastic pollution, we argue that civil society actors use mobilization strategies with their peers and inclusive-dissensus strategies with corporations to convert them to a new discourse. These strategies use moral affects to blame and shame corporations and solidarity affects to create feelings of identification with the group and to avoid disengagement and polarization. Our research contributes to the literature on deliberative democracy and stakeholder engagement in social media in the collective constructions of discourses on grand challenges.

Contemporary society faces a wide range of environmental problems. In what ways might business be part of the solution, rather than the problem? The Moralist Model is one general response. It tends to focus on particular corporations which it treats as moral agents operating within our common moral system. As a consequence, it claims that, with various (usually modest) changes, corporations may become environmentally responsible.

This paper contends, on the contrary, that business has its own special “ethics,” which relates not simply to the internal nature of the corporation but also to the corporate (free market) system. Given this special ethics, business cannot in general be environmentally responsible in the manner that the Moralists demand. Instead, more far-reaching changes are needed within corporations and the economic system to promote environmental responsibility. Though the requisite changes are significant, there are forces pushing in the direction which the paper identifies.

Hedge funds are targets of mounting ethical criticism. The most salient focuses on their opacity. Hedge funds are structured to block transparency for strategic reasons: that is, they systematically deny information to their own investors and to governments in order to protect their competitive advantage, even though the information they hide holds tremendous significance for the interests of both groups. In this article I will detail the ethical allegations made against hedge funds, showing why their opacity creates intractable conflicts that cannot be resolved through government regulation. Sometimes opacity be regulated away; but with hedge funds I show why it cannot because of “regulatory recalcitrance.” In the end a form of voluntary moral coordination, a form of “microsocial contract” instituted as an industry standard, is required relief. In a word, the solution to hedge fund opacity is ethical.

The discussion of the global economy and worldwide expansion of the capitalist and market economic system barely deals with the topic of public goods, although they are of paramount importance precisely in this international setting. Fortunately, the theory of public economics systematically developed the central concept of the public good with its far-reaching implications so that this knowledge can be applied also to global issues. In order to treat these often vaguely discussed issues, a typology of international relations is proposed. These and other considerations prepare the way to ask the question about the implied ethos. Because a common and sustainable ethos for public goods in the global economy is of great relevance and high urgency, both religious and non-religious ethical traditions are called for making their necessary contributions to this foundation.

This article uses concepts from sociology, history, and philosophy to explore the shifting relationship between moral values and business in the Western world. We examine the historical roots and intellectual underpinnings of two major business-society paradigms in ideal-type terms. In pre-industrial Western society, we argue that business activity was linked to society’s values of morality (the moral unity paradigm)—for good or for ill. With the rise of industrialism, we contend that business was freed from moral constraints by the alleged “invisible hand” of efficient markets (the amoral theory of business). Armed with this understanding of the intellectual history of the moral unity and amoral business-society paradigms, we suggest that some variant of the moral unity paradigm may be recurring in post-industrial society.

Previous research on reactivity—defined as changing organizational behaviour to better conform to the criteria of measurement in response to being measured—has found significant variation in company responses toward sustainability metrics. We propose that reactivity is driven by dialogue, motivation, and capacity in a configurational way. Empirically, we use fuzzy set qualitative comparative analysis to analyze company responses to the sustainability index FTSE4Good. We find evidence of complementary and substitute effects between motivation and capacity. Based on these effects, we develop a typology of reactivity to sustainability metrics, which also theorizes the use of metrics as tools for performance feedback and the building of calculative capacity. We show that when reactivity is studied configurationally, we can identify previously underacknowledged types of responses. We discuss the theoretical and practical implications for studying and using sustainability metrics as governance tools for responsible behaviour.

The logic of the commons is applied to the U.S. labor pool. It is argued that the labor pool is an “active” commons, a commons in which the resource as well as the users of the resource can change voluntarily. For this commons to be tended properly, technical solutions are ineffective and inappropriate; both employer and employee must have trust in the mechanisms that tie them together. Collaborative control is given as a possible framework for making the morality shift necessary to avoid ultimate tragedy.

M.B.A. programs in the United States continue to admit foreign students in record numbers, yet we know little about how this cultural diversity may impact the values and ethical decision making behavior of either American or foreign students. The research discussed here examined this issue within the context of a large M.B.A. program where non-U S. citizens comprise over twenty percent of the student population.

Comparisons of U.S. and Asian students supported existing notions about the independent vs. interdependent conceptions of the role of the individual within each culture. However, these differences were not a major factor in explaining the significantly different choices made by U.S. and Asian students in selected decision making vignettes.

This article investigates how religion-based social norms and values shape women’s access to employment in Muslim-majority countries. It develops a religiously sensitive conceptualization of the differential valence of genders based on respect, which serves to (re)produce inequality. Drawing on an ethnographic study of work practice in Berber communities in Morocco, aspects of respect are analyzed through an honor–shame continuum that serves to moralize and mediate gender relations. The findings show that respect and shame function as key inequality-(re)producing mechanisms. The dynamic interrelationship between respect and shame has implications for how we understand the ways in which gender inequality is institutionalized and (re)produced across different levels. Through these processes, gender-differentiated forms of respect become inscribed in organizational structures and practices, engendering persistent inequality.