The case method (CM) helps executives develop their problem-solving skills by exposing them to real-life situations in which they have to look for similarities and differences with respect to their professional contexts. This study seeks to explain how the analogies generated by the CM favor the authentic learning of experienced executives in custom executive programs (CEPs). An analogy is an explicit, nonliteral comparison between two objects, or sets of objects, that links their structural, functional, and causal similarities. Our comparative-case study, based on nine CEPs across six Latin American countries, seeks to identify the key factors that enable the effectiveness of the CM in authentic executive learning. Our results suggest that a CEP's success, i.e., its ability to achieve the analogical knowledge transfer that authentic learning requires, in part depends on the CEP's selection of cases and its appropriate delivery. Our analysis reveals two critical drivers of CM success in a CEP: choosing cases that enable analogies according to the type of business issues and constructing a CM narrative that illustrates the analogies of each case.

This paper proposes a method to measure the effectiveness of an ethics program at one of the most prominent pawnshop chains in Mexico, surveying a sample of 519 workers. This research presents a novel approach to the investigation of business ethics by conducting a cluster randomized control trial experiment to assess effectiveness. No evidence of an enhanced understanding of the existing code of ethics from the communication and explanation of the code was apparent. This could indicate an example of a failed ethics program, suggesting the possibility of additional ineffective ethics programs and companies could be wasting resources on them. We demonstrate that it is possible to implement a cluster randomized control trial, which is considered to be the gold standard in impact evaluation. This should lead to the application of more effective methodologies in the field of business ethics, offering a more comprehensive understanding of the effectiveness of ethics programs.

Financial misconduct has come into the spotlight in recent years, causing market regulators to increase the reach and severity of interventions. We show that at times the economic benefts of illicit fnancial activity outweigh the costs of litigation. We illustrate our argument with data from the US Securities and Exchanges Commission and a case of investment misconduct. From the neoclassical economic paradigm, which follows utilitarian thinking, it is rational to engage in misconduct. Still, the majority of professionals refrain from misconduct, foregoing economic rewards. We suggest fnancial activity could be reimagined taking into account intrinsic and prosocial motivations. A virtue ethics framework could also be applied, linking fnancial behavior to the quest for moral excellence and shared fourishing. By going beyond utilitarian thinking and considering alternative models, we ofer a fuller account of fnancial behavior and a better perspective from which to design deterrence methods.

The recent evolution of human work seems to signal a change of epoch that presents a challenge for theology. We urgently need a theological reflection that contributes, together with the other sciences, to addressing the challenges of contemporary work from a fully human perspective. This article justifies and presents a research project on recent theology of work which constitutes a starting point for the task mentioned. The article begins with a description of the present labor situation in the world and future prospects. Then, in the second part, it presents a preliminary review of recent theological literature in the fields of dogmatic, biblical, moral, and spiritual (practical) theology, pointing out possible avenues for further exploration. Some theological categories that can help respond to current challenges are suggested.

Alasdair MacIntyre ' s criticism of Modernity essentially refers to the problem of compartmentalization, which restricts the possibility of achieving excellence in an integral lifestyle. Among other reasons, compartmentalization is especially derived from an insular valorization of the workplace based on a reductionist understanding of productivity in terms of mere efficiency. Aimed at overcoming the moral confusion derived from the overestimation of technical, skilled productivity and individualistic cooperation in private corporations, this article offers a thicker explanation of MacIntyre's theory of productive work in light of a narrative approach that opens up the possibility of achieving standards of excellence in modern production. To do so, it follows MacIntyre's understanding of productivity in terms of craftsmanship by explaining what excellence in production is and the role it plays in achieving unity of life and excellence in modern corporations based on two criteria derived from a historical definition of production, namely, craftsmanship and collegiality.

The literature identifies customized executive programs (CEPs) as a significant source of knowledge generation, sharing and distribution within the field of management. For these programs to be successful, overcoming boundaries between companies and business schools needs to be in place. Through the inductive multiple-case study approach, we address the question, "How do business schools and their corporate clients effectively engage in the design and delivery of CEPs?" We find that the two parties jointly use certain boundary objects and create design and delivery trading zones to achieve local coordination to bridge the instrumental, interactional, and cognitive boundaries that separate them. We contribute to the study of customized executive education by developing a grounded process model that emphasizes four factors that lead to successful collaboration, namely, brokering by program directors, boundary crossing, role switching and veiling and unveiling. We conclude by noting the theoretical and managerial implications and providing some concluding remarks.

During the last 20 years, the financial sector has undergone an unprecedented transformation due to new regulations and the implementation of several technological advancements. The combination of regulation and technology has brought about new financial processes that have fundamentally changed how financial market making is done. This paper studies the ethics of financial market making and its implications for one of the most controversial financial innovations of modern times, namely high-frequency trading (HFT). We claim that the Aristotelian distinction between natural chrematistics, which is aimed at serving the real economy, and unnatural chrematistics, whose ultimate purpose is wealth accumulation, can be a useful criterion to assess the ethics of financial market making and the goodness of an innovation as HFT, and how it can serve the common good of society. This approach can be defined as 'purpose oriented' or 'purpose fulfillment'.

Con el fin de cuestionar la primacía del contrato sobre la lógica del don en la modernidad, se contrastan tres arquetipos de relación social a la luz de los radicales polianos, así como los tipos de reciprocidad que se derivan de cada uno de ellos. A la reciprocidad cerrada-dual moderna se opone la reciprocidad abierta-triádica, que es la que caracteriza a las relaciones de don, tanto en su versión clásica como cristiana. Se concluye que sólo el radical cristiano de la persona integra la lógica del don con el sentido radical de la libertad, desde una antropología que complementa la práctica de virtudes como camino de perfección moral con la apertura a la trascendencia y la ayuda al más necesitado.

Conversation about the current and potential effects of digital technologies on the nature of work is raging within scholarly and practitioner communities. Artificial intelligence, robotics, data analytics, digital platforms, and automation, among other technologies, are prompting a swift and profound transformation of work. Building on Pierpaolo Donati's relational sociology, we examine the changes these technologies are likely to bring about in work as a human relation. Despite the very real threats of unemployment, job insecurity, precariousness, and surveillance, technology may also encourage the emergence of a work culture that shifts the scales toward a relational realm rather than a transactional one. To this end, we argue that work should be understood as a social relation with four dimensions: exchange value, intrinsic extra-economic purpose, communication for reciprocal services, and correspondence with primary human needs according to use values. Understanding the digital transformation of work from this point of view requires comprehending the differentiation and integration of these four dimensions.

Pricing policies and fair-trade practices are critical for sustaining commercial relationships between firms and customers. Nevertheless, in current business practices, fairness has been mistakenly reduced to a minimalistic ethic wherein justice only demands legal and explicit norms to which commercial parties voluntarily agree. Aimed at giving a different explanation of commercial agreements, this paper will introduce a Virtue Ethics (VE) explanation of the relationship between pricing and the common good by taking up classical concepts related to justice in commerce. In particular, we will explore three principles associated with the notion of fairness in commerce as defined in Neo-Aristotelian ethics towards a relationship between a common good and justice in pricing, i.e., proportionality, benevolence and well-being. To exemplify how these criteria of justice apply to decision-making in commercial practices, we will discuss several cases of fair and unfair commercial relationships.

Four studies (a vignette-based experiment conducted in Portugal and Brazil, a two-wave multisource field study in Portugal, a three-wave field study in the United States, and a multisource field study in Portugal), in which conscientiousness, a "rival" of grit, was controlled for, provide theoretical and empirical evidence for a model testing what (e.g., grit in leaders), why (e.g., employee self-attributed grit), and when (e.g., leader support) grit supports thriving at work. First, gritty employees are more likely to thrive. Second, conveyed leader grit (i.e., grit as perceived by employees) predicts employee grit. Third, conveyed leader grit and leader self-attributed grit are conceptually different, and although the two relate positively with employee self-attributed grit, the former is a better predictor of employee self-attributed grit. Fourth, leader support operates as a boundary condition, in that the indirect association of conveyed leader grit with employee thriving is stronger when the leader is perceived as supportive. Our research also indicates that the concept of grit is more textured than habitually considered and that more attention must be paid to the boundary conditions of its development and impact.

This paper aims to integrate the concept of autonomous and subordinated work into Aristotelian organizational theory by enhancing the epistemological framework of neo-Aristotelianism and by adding a Thomistic interpretation of organizational practical knowledge. We sustain that, in order to advance our understanding of the firm in terms of excellence and the common good, the concept of practical knowledge applied to organizational theory requires reflection on the nature of work in modern organizations. For this, we will explain (i) how an organization that aims for excellence is most appropriately defined as a community of autonomous work, (ii) how practical knowledge in organizations must be defined considering work as deliberative production and, finally, (iii) how productivity in organizations is best described when work is envisioned in terms of autonomy and subordination.

In 1538¿39 Francisco de Vitoria delivered two relections: De Indis and De iure belli. This article distills from these writings the topic of free trade as a ¿human right¿ in accordance with ius gentium or the ¿law of peoples.¿ The right to free trade is rooted in a more fundamental right to communication and association. The rights to travel, to dwell, and to migrate precede the right to trade, which is also closely connected to the rights to preach, to protect converts, and to constitute Christian princes. This has significant repercussions on the field of business ethics: the right to free trade is ultimately founded directly on natural law and indirectly on divine law; trade is not independent of ethics; and trade is presented as an opportunity to develop the virtues of justice and friendship, among other repercussions. Vitoria is portrayed as a defender of private initiative and free markets.

Finance may suffer from institutional deformations that subordinate its distinctive goods to the pursuit of external goods, but this should encourage attempts to reform the institutionalization of finance rather than to reject its potential for virtuous business activity. This article argues that finance should be regarded as a domain-relative practice (Beabout 2012; MacIntyre 2007). Alongside management, its moral status thereby varies with the purposes it serves. Hence, when practitioners working in finance facilitate projects that create common goods, it allows them to develop virtues. This argument applies MacIntyre's widely acknowledged account of the relationship between practices and the development of virtues while questioning some of his claims about finance. It also takes issue with extant accounts of particular financial functions that have failed to identify the distinctive goods of financial practice.

This paper conducts an ethical analysis of the 2008 closure of a US money market fund entitled the reserve primary fund (RPF), which triggered the first run in the money market sector and a resultant liquidity crisis that harmed the entire US financial system. Although many academics and regulators have studied and written about RPF, the question whether the decision that caused the fund to collapse represented any ethical dilemma, has not been addressed to date. With this purpose in mind, the paper will examine the events that culminated in the closure of RPF according to Alasdair MacIntyre's virtue ethics approach. In so doing, the paper aims to extend the applicability of MacIntyre's concepts to the finance industry in general, and to provide a framework to predict and so potentially prevent crises like that exemplified by the RPF case.

In recent years, business ethics and economic scholars have been paying greater attention to the development of commons organizing. The latter refers to the processes by which communities of people work in common in the pursuit of the common good. In turn, this promotes commons organizational designs based on collective forms of common goods production, distribution, management and ownership. In this paper, we build on two main literature streams: (1) the ethical approach based on the theory of the common good of the firm in virtue ethics and (2) the economic approach based on the theory of institutions for collective action developed by Ostrom's research on common-pool resources to avert the tragedy of the commons. The latter expands to include the novel concepts of new commons, "commoning" and polycentric governance. Drawing on the analysis of what is new in these forms of organizing, we propose a comprehensive model, highlighting the integration of two sets of organizing principles-common good and collective action - and five problem-solving processes to explain the main dimensions of commons organizing. We contribute to business ethics literature by exploring the convergence between the ethical and economic approaches in the development of a commons organizing view.

The encyclical Sollicitudo rei socialis conceives the Catholic Social Teaching (CST) as an accurate formulation of a reflexion on the social problems, in the light of faith and the Church's tradition. This article explores the formulation of the principle of solidarity since it is hard to find a clear or complete definition of the principle itself in magisterial texts. The article harkens back to the complex origins of the principle of solidarity in CST and in the social sciences, and extracts the main contents pointed out by the CST. Next, the importance of counting on an accurate definition of the principle is explained and a definition is proposed in view of previous CST. Given the influence of the social sciences on the formulation of CST, the article finally highlights the convenience of purifying questionable elements when it comes to present and explain solidarity as a principle.

This article analyzes in detail the virtue of practical wisdom as described by Thomas Aquinas, and on this basis it develops a comprehensive framework to enrich Authentic Leadership theory, establishing the virtue of practical wisdom as foundational for the authentic leader's behavior and character development, and highlighting shortfalls that may stem from vices opposed to it. The goal of the article is two-fold: First, it seeks to fill a void on the role of virtues-and in particular practical wisdom-in leadership studies; second, it aims to show how cultivating the virtue of practical wisdom as described by Aquinas promotes the development of exactly those traits that are characteristic of an authentic leader, offering a set of propositions delineating these correlations.

This article sheds light on the unity and continuity between the Christian mystery and the Catholic Social Teaching (CST) and, in a broader scope, between dogmatic and moral theology. It presents, in a synthetic manner, a theological foundation of the CST's principle of solidarity. This study highlights the Trinitarian roots of the principle of solidarity and connects it with creation, redemption, the Eucharist, the communion of saints and eternal life. It concludes that Christian identity inevitably requires a principle like solidarity for the sake of social order. Finally, the article emphasizes the unity between the CST's three main principles (human dignity, solidarity and subsidiarity) to help discern whether their implementation is compatible with Christian identity or not. This article is useful for scholars interested in the Christian foundations of solidarity.

Purpose The purpose of this study is to discuss the advantages and challenges of using virtuous language in business. Design/methodology/approach This paper is a theoretical exploration based on a literature review and philosophical analysis that uses a quantitative study from the Boston Consulting Group (BCG) as its starting point. Findings This study argues that neo-Aristotelian leadership and positive leadership explain why companies whose financial filings use value-laden language that stresses the higher purpose of the organisation to outperform companies whose reports use the language of profit maximisation. While neo-Aristotelian leadership is based on Aristotle's Rhetoric, positive leadership is primarily influenced by research results from Positive Psychology and Positive Organizational Scholarship. The two approaches to leadership highlight something that conventional business research largely ignores, namely, the role of values as drivers of human behavior and the importance of character in leadership. Both research streams indicate that it is possible for organisations to do well and do good because they are seen as groups of value-driven individuals. Thus, using virtuous/positive communication is a possible means to do well financially and to (re-)humanize the business world of tomorrow. Research limitations/implications The BHI study investigates the outcomes of written language only; thus, it does not consider oral communication. Moreover, there is no "perfect level" of virtuous language in corporate environments. We should not expect the same precision in ethics as in mathematics. Practical implications By way of explaining how to best use virtuous language in a business context, this study helps business practitioners to do good and well. Social implications This study offers a pathway to (re-)humanize tomorrow's world of business, which is once again subjugating humanity to imagined technological imperatives. Originality/value By deliberating the benefits and possible downsides of using virtuous language in a business environment, this paper advances a topic that has recently gained considerable attention but is still in need for more research.

Not only individuals and firms, but also families engage in business as a social activity and this is true beyond the case of family businesses. Cultural differences in the way families are construed might influence the way they do business. There are different types of families, and among these are those described by Aristotelian and Confucian traditions, representing the West and the East respectively. The literature on virtue in business has been dominated by a Western-mainly Aristotelian-tradition (Ferrero and Sison in Bus Ethics Eur Rev 30(1): 8-24, 2014), neglecting the role of the family and focusing on the individual. In this paper, we seek to fill this gap by explaining differences and similarities in the normative evaluation of certain family-related business attitudes and practices, in light of Confucian and Aristotelian virtue ethics standards. After comparing the structure, organization and dynamics of Aristotelian and Confucian families, we shall draw some inferences regarding "virtuous" or excellent business practices-such as nepotism, bribery, gift-giving and guanxi and attitudes-on codified rules or written norms. For this analysis we shall make use of Aristotelian and Confucian ethical accounts as well as inputs from Family Science applied to organizations, which provides conceptual categories to compare the two traditions. Thus we hope to contribute not only to the comparative study of Aristotelian and Confucian virtue ethics in business, but also to the understanding of the distinctive role of families, raising cultural awareness for what may be considered virtuous business practices according to the Aristotelian and Confucian traditions.

The notion that business corporations should be managed for the exclusive benefit of shareholders has been widely challenged. In particular, critics have argued that directors are authorised to serve the interests of thecorporation: a legal entity that is completely separate from its shareholders. However, the premise that shareholders have sole legitimate claim to 'membership' has rarely been questioned. This article explores medieval thought on ownership, authority and participation in guilds, churches, towns and universities, and shows that membership can be understood as participation in, and shared responsibility for, a group's distinct collaborative activity over time. Our theory suggests that 'membership' in the modern corporation extends to non-shareholding stakeholders, but with the implication that ownership and authority are vested in the members as a body and not in a separate entity.

Virtuous leadership is crucial for advancing leadership ethics. By comparing Positive Leadership and its notion of virtuousness with neo¿Aristotelian leadership based on virtue, this article sheds light on this research field. We expound on the differences and commonalities between the two and present possibilities of how they can enrich each other and further ethical leadership theory. Our findings concern the purported Aristotelian roots of virtuousness, the relative strengths and weaknesses of the positive and the neo¿Aristotelian approaches, and the interplay between technical skills and ethical excellence in leadership. We propose the adoption of practical managerial tools and procedures from Positive Leadership, making them dependent upon the virtues to achieve flourishing within organizations and society at large.

In this article, we shall attempt to lay down the parameters within which the practice of the virtues may be enabled in the field of finance. We shall be drawing from the three main sources, Aristotle, Catholic Social Teaching (CST) and MacIntyre, on which virtue ethics is based. The research question is what ought to be done for financial activities to truly contribute to eudaimonia or human flourishing (Aristotle), to the achievement of three distinct kinds of goods as required of virtue, ¿those internal to practices, those which are the goods of an individual life and those which are the goods of the community¿ (MacIntyre), and to ¿[help] man on the path of salvation¿ in the midst of complex network of relationships in modern societies (CST). These parameters could then be taken as conditions financiers ought to fulfill in order to live the virtues in their work and across different life spheres.

Among contexts in which consumer ethics unfold, the family is a very relevant one because it holds a sizeable share of consumption decisions, and is intimately connected to the search and sustaining of a common life project. Based on interviews with 20 fathers cohabiting with their partners and children, we examine the role of the father in family consumption, including the progressive weakening of the breadwinner model in favor of more involved ways of male presence in the family. We explore whether fathers show any kind of ethical concern in their family consumption decisions and, if that is the case, whether those concerns are better understood through the lens of an ethics of care - as usually done in the case of mothers- or through the lens of virtue ethics - which is connected to consumers' projects and their search for the good life.

Stakeholder engagement is central to organizations' social impact. Engagement activities rely on mechanisms whose complexity increases for multinational corporations (MNCs). This study explores the boundary conditions of our Western/Northern-based knowledge of stakeholder engagement mechanisms through the examination of such practices in multinational companies founded in Latin America (MultilatinasMLs). Based on previous studies on the identification of organizational stakeholders in the region, we aim to understand the specific engagement mechanisms MLs use. To this end, we analyze qualitatively 28 corporate sustainability reports by relevant firms. Our findings show that the community includes silent (or non-visible) stakeholders composed of subgroups not listed as organizational stakeholders but mentioned in the report as engaged by the company or a subsidiary. MLs in our sample use four main mechanisms to engage these subgroups: (a) strong, visible commitments to local social organizations; (b) continuous dialogue with members of the community; (c) networks of volunteers to help perform the social activities of the companies; and (d) creation of social infrastructure institutions. We end by detailing the theoretical implications for stakeholder engagement among emerging economies multinational companies (EMNCs) and for MNCs in general.

In his visit to the United States, Pope Francis stressed the Christian message on ecology, which includes a calling to an ¿ecological conversion¿. However, a recent paper on the influence of Christian religiosity on managerial decisions concerning the environment argues that Christian faith discourages managers¿ environmental-friendly decisions. Francis message on ecology is part of the Catholic Social Teaching (CST), which contains valuable contributions, but it is still to be known. We present a synthetic view of CST on ecology and its implications for businesses, shareholders and consumers, which can also interest non-Christians concerned with the natural environment. Ultimately, we want to explain why Christians involved in economic activity should be concerned with the natural environment. We offer a moral qualification of acts regarding the natural environment, and conclude with some observations for Christian churches and business schools.

Building on research that addresses why some financial systems are based on banks and others on markets, this study stresses that culturally-based social preferences regarding uncertainty avoidance help explain cross-national differences in financial system configuration. We propose a theory in which political institutions condition this relationship. National culture is a good predictor of financial systems as long as governments are constrained and therefore able to credibly commit to not interfering in the functioning of banks and markets. We adopt a strict definition of culture that focuses only on inherited dimensions, while postulating uncertainty avoidance as a proxy for the societal attitudes that channel those cultural priors. We find that in a political context with unconstrained government, national culture fails to explain financial system variation. In contrast, when political institutions limit governmental action, culturally-driven preferences for uncertainty avoidance affect significantly financial configuration.

This paper critically reviews and discusses the concept of organizational virtuousness as presented in positive organizational scholarship (POS). It identifies Kim S. Cameron, David S. Bright, and Arran Caza as the most influential researchers within this field and portrays commonalities, differences, and inconsistencies among the various notions of organizational virtuousness offered in positive organizational literature throughout the last 15 years. While the commonalities refer to attributes, levels of analyses, outcomes, and methodology, the variances concern the locus of residence, the priority of outcomes, indicators, supporting features and the virtues included in positive organizational virtuousness. The analysis further discusses the strengths and weaknesses of these differences and stresses the challenges which the POS movement needs to face in order to clarify its definition of organizational virtuousness and, maybe, converge on one unified meaning. Finally, these challenges are summarized and linked to future research proposals which offer potential ideas on how to further develop the concept of positive organizational virtuousness.

This article is motivated by certain issues for which, in current Business and Human Rights (BHR) discourse, largely framed in terms of the Ruggie reports, no satisfactory solutions have been found to date. These quandaries refer to (a) foundational matters: the link between human rights law and ethics; (b) normative force: the obligatoriness of human rights claims on corporations; and (c) scope and content of human rights claims on corporations. Turning to the virtue ethics and natural law (VENL) tradition, we encounter the following possible responses: (a) positive laws, such as those concerning human rights, ultimately require a basis in natural law; (b) although the public use of the coercive force of law belongs to the state alone, its private use by non-state actors such as individuals and corporations may be legitimate in some cases; and (c) practical wisdom is necessary in the proper interpretation and implementation of human rights claims on corporations, taking into account relevant contingencies. The blending of BHR discourse with the VENL tradition is best captured in modern Catholic Social Teaching (CST). Although historically CST has adopted the VENL language, engagement with social issues in the modern world has enabled it to reach an understanding with rights theory as well, particularly in connection with business and the economy.