Social and Behavioral Sciences Commons^™

How Applying Instrumental Stakeholder Theory Can Provide Sustainable Competitive Advantage, Thomas M. Jones, Jeffrey S. Harrison, Will Felps

Management Faculty Publications

Instrumental stakeholder theory considers the performance consequences for firms of highly ethical relationships with stakeholders, characterized by high levels of trust, cooperation, and information sharing. While research suggests performance benefits, an obvious question remains: If instrumental stakeholder theory–based stakeholder treatment is so valuable, why isn’t it the dominant mode of relating to stakeholders? We argue that the existing instrumental stakeholder theory literature has three shortcomings that limit its ability to explain variance in performance. (1) Little theory exists around how instrumental stakeholder theory–based stakeholder management could provide sustainable competitive advantage. (2) The literature has largely neglected the potential downsides (i.e., …

[Introduction To] Leadership Ethics, Joanne B. Ciulla, Mary Uhl-Bien, Patricia H. Werhane

Bookshelf

Research into the topic of leadership ethics has grown and evolved gradually over the past few decades. This timely set arrives at an important moment in the subject's history. In a relatively new field, such a collection offers scholars more than articles on a topic; it also serves to outline the parameters of the field. Carefully structured over three volumes, the material runs through an understanding of the key philosophic and practical questions in leadership ethics along with a wide range of literature - from disciplines including philosophy, business and political science, to name a few- that speaks to these …

Stakeholder Theory, Value, And Firm Performance, Jeffrey S. Harrison, Andrew C. Wicks

Management Faculty Publications

This paper argues that the notion of value has been overly simplified and narrowed to focus on economic returns. Stakeholder theory provides an appropriate lens for considering a more complex perspective of the value that stakeholders seek as well as new ways to measure it. We develop a four-factor perspective for defining value that includes, but extends beyond, the economic value stakeholders seek. To highlight its distinctiveness, we compare this perspective to three other popular performance perspectives. Recommendations are made regarding performance measurement for both academic researchers and practitioners. The stakeholder perspective on value offered in this paper draws attention …

[Introduction To] Honest Work: A Business Ethics Reader, Joanne B. Ciulla, Clancy Martin, Robert C. Solomon

Bookshelf

Revised in the aftermath of the worst global financial crisis since the Great Depression, the third edition of Honest Work: A Business Ethics Reader reflects and reinforces the editors' assertion that business ethics is primarily about the ethics of individuals. Featuring 115 brief articles and 89 real-life case studies, this unique anthology covers all aspects of business ethics under the overarching theme of the good life--what it means to students as individuals, what it means for business, and what it means for society. The book also includes an extensive chapter that explores the relationship between leadership and ethical behavior in …

Adam Smith And Greed, Jonathan B. Wight

Economics Faculty Publications

The virtues of greed have been widely promoted by some economists in the 20th century. Allegedly it is Adam Smith who provides this new dignity to greed (Lerner, 1937, ix). Kenneth Arrow and Frank Hahn in the General Equilibrium Analysis (1971), for example, implicitly assume that Adam Smith's self-interest is the greed that promotes economic efficiency (quoted in Evensky, 1993, 203). Walter Williams (1999), a devoted follower of Smith, writes in his column that, "Free markets, private property rights, voluntary exchange, and greed produce preferable outcomes most times and under most conditions." These pronouncements have become part of the cultural …

[Introduction To] The Ethics Of Leadership, Joanne B. Ciulla

Bookshelf

The focus of The Ethics of Leadership is the ethical challenges that are distinctive to leaders and leadership. Organized around themes such as power and the public and private morality of leaders, the book explores the ethical issues of leadership in a variety of contexts including, business, NGOs, and government. It integrates material on ethics and leadership from the great Eastern and Western philosophers with leadership literature and case studies. This multi-disciplinary approach helps philosophers and leadership scholars present a fully integrated view of the subject.

Corporate Ethics, Elizabeth Milligan

Honors Theses

This paper explores leadership, social responsibility and business ethics. Business ethics have become a contradiction of terms due to the lack of accountability inherent in corporate structure. An exploration of ethical theory is an attempt to demonstrate that corporations can be seen as leaders. If a corporation can be an actor and a leader it can be held morally accountable for the changes that it makes on the environment and society.

Corporations make decisions, influence society, structure jobs, produce, innovate and change. Corporations act as leaders. As a leader it is essential that a corporation be socially responsible. The individuals …