Corporate Ethics for Turbulent Markets

The Market Context of Executive Decisions

Oswald A. J. Mascarenhas, SJ

Emerald

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9781787561885

30 October 2018

$128.99

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9781787561878

30 October 2018

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9781787561892

30 October 2018

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The tapestry of human behaviour in the marketplace today is turbulent, unpredictable, and chaotic. Yet it is also so diverse, rich and global that it presents a rare ethical and moral opportunity, and challenge, to out-behave competition and create enduring value. This is corporate ethics for corporate advantage.

Corporate Ethics for Turbulent Markets: The Market Context of Executive Decisions focuses on the HOW of doing business – the economic, social, ethical, moral and spiritual values we bring to our business ventures - and how thereby we impact the world.

The book focuses on the LEMS (legality, ethicality, morality, and spirituality) technique that we submit as a prescriptive benchmarking tool for all corporate thinking, deliberation, explanation, evaluation, choices, strategic implementation, accountability and moral responsibility. It demonstrates that by going beyond the legal obligation (legality) to do the “right thing” (ethicality), to do the “right thing rightly” (morality), and doing the “right thing rightly and for the right intentions” (spirituality), we can create a sure strategy for good decision making and implementation that can heal the world from its current addictions to corporate fraud in all its evil forms.

Envisioning a moral reawakening, this book will challenge business students and executives alike to re-evaluate the moral justification of business choices, decisions, actions and their consequences. LEMS as a four-dimensional cross-checking skill for all that we think, do, become and be takes time and patience but it can surely heal an otherwise divided and broken world.

Prologue. Corporate Ethics for Turbulent Markets of Today Chapter 1. Characterizing Market Turbulence Today as a Source of Market Opportunity Chapter 2. The Domain and Context of Corporate Ethics - Introducing Concepts and Directions Chapter 3. A Systems-Thinking Approach to Understand the Challenge of Corporate Ethics in the Turbulent Markets of Today Chapter 4. The Success of Free Enterprise Capitalist System (FECS) when Designed and Deployed Rightly Chapter 5. The Destruction of Free Enterprise Capitalist System when Infected by Fraud, Corruption and Bribery Chapter 6. The Turbulent Market of Modern Debt-Overleveraged and Promoter Dominated Corporations Chapter 7. Artificial Intelligence and the Emergent Turbulent Markets - New Challenges to Corporate Ethics Today Chapter 8. The Ethics of Reinventing the Morally Embattled Corporation Epilogue. The 21st Century Legal, Ethical, Moral and Spiritual (LEMS) Challenges of Corporate Governance

This volume explores the economic, social, ethical, moral, and spiritual values in business and their impact on the world, focusing on a framework of legality, ethicality, morality, and spirituality as a tool for corporate thinking. It discusses market turbulence; basic concepts, ethical theories, and moral paradigms of corporate ethics for turbulent market challenges of today; past and contemporary market systems and challenges using systems thinking; the economic, legal, ethical, and moral goodness and promise of the free enterprise capitalist system; its problems of fraud, corruption, and bribery; the role of bankruptcy laws and court systems in bringing about change in debt-overleveraged corporations; the challenge of artificial intelligence; and the ethics of reinventing the morally embattled corporation.
- Annotation ©2018

Oswald Mascarenhas currently serves as JRD Tata Chair Professor in Business Ethics at Xavier School of Management (XLRI), Jamshedpur. He also conducts Management Development Programs (MDPs) at XLRI and in-company MDPs for several businesses in fields related to corporate ethics and moral responsibility. Previously, he has served as Professor of Marketing and Director of Public Systems Research at XLRI (1977-1983), Charles H. Kellstadt Professor of Marketing at the University of Detroit Mercy (1983-2010) and Chairman, MBA Programs, St. Aloysius College, Mangalore (2010-2013). He has published six professional books and over seventy five articles in domestic and international journals.