Abstract

This paper presents a real‐life case, taken from political history and related by Vaclav Havel, President of the Czech Republic. It tells of the way in which three times in that country’s history its leaders opted for a ‘more realistic’ strategy (i.e. giving way when faced with a serious problem: invasion or insurrection) rather than a ‘more ethical’ strategy (i.e. resisting, knowing the high cost in human lives that this would entail). The case enables the relationship between heroism (the adoption of a ‘more ethical’ solution), management and leadership to be analysed. Particular emphasis is placed on the study of the morality of the ‘more ethical’ decision, on the evaluation of the obligation (or otherwise) of putting it into practice, and on the relationship between such ‘more ethical’ conduct and leadership in the firm.