We examine three assumptions commonly held in the corporate reputation literature: (1) reputation ratings of owners and investors are generally representative of all stakeholders; (2) stakeholders will generally provide a higher reputation rating to firms that emphasize corporate social responsibility versus firms that do not; and (3) profitability is the primary criterion of importance to all stakeholders when rating a firm's reputation. Using an exploratory in‐class exercise, our findings suggest that: (1) there are significant differences among stakeholder groups in their (...) reputation ratings; (2) firms that emphasize corporate social responsibility are not rated more highly across all stakeholder groups; and (3) for all stakeholder groups, the ethicality criterion explained more of the variance in firms' reputation ratings than the profitability criterion. (shrink)

This paper discusses three generic types or ways of understanding the common good found in the literature, and then describes the implications of the integral common good for seven key practices of humanistic management. In particular, compared to conventional management, an approach to humanistic management based on the integral common good tends to: 1) have institutional mission and vision statements that are developed by multiple stakeholders that emphasize social and ecological well-being ahead of financial well-being; 2) have a strategic orientation (...) that emphasizes collaboration, “minimizer” and “transformer” generic strategies, a Radical Resource Based View, and uses Porter’s five forces as a way to foster collaboration; 3) structure organizations based on experimentation, sensitization, dignification, and participation ; 4) develop control systems based on value loops that seek to enhance the flourishing of multiple stakeholders; 5) emphasize multi-directional multi-stakeholder communication; 6) invite all stakeholders to participate in making decisions, including developing and choosing alternatives; 7) foster leadership based on socialized power, a focus on SMART 2.0 goals, a desire to ensure everyone is treated fairly, and an emphasis on relationships that nurture community and the integral common good. Implications for research and teaching are discussed. (shrink)

Critical management education typically assumes that management courses that emphasize critical reflection—that is, courses that critique problematic systems and structures, and ask students to dialogue about and actively reflect upon these critiques—will foster student transformation. In contrast, critical theory typically suggests that transformation requires praxis, that is, critical reflection plus practical action where students enact their new knowledge in their everyday lives. We empirically test these assumptions by measuring student transformation in management classes that emphasize critical reflection and in other (...) classes that emphasize praxis. We find no significant differences in three measures of student transformation in classes where only critical reflection is emphasized, but significant differences in all three measures when praxis is emphasized. In a content analysis of student praxis assignments, we find further evidence of the link between praxis and student transformation. Specifically, the majority of students value praxis, describe changes in their self-understanding/consciousness thanks to assignments that emphasize praxis, and plan to continue new behaviors that address concerns raised by critiques of problematic systems and structures. Finally, we find that the greater a student’s self-described effect of praxis, the greater that student’s transformation. Taken together, the results suggest that the practical application dimension of praxis is a key “missing ingredient” in the teaching of business ethics as students move from critically reflecting on ethical issues, to actually becoming transformed by their knowledge. (shrink)

As the need for business to address pressing social and ecological issues intensifies, so does the importance of enhancing the development of sustainable marketing. The current dominant approach to sustainable marketing is based on a Triple Bottom Line (TBL) profit‐centric worldview, which suggests that firms can simultaneously improve their financial well‐being as they reduce negative social and ecological externalities. However, whereas the scope of TBL marketing is limited to sustainability initiatives that enhance profits, there is a growing need for—and interest (...) in—developing a sustain‐centric approach to marketing that relaxes the need to maximize financial well‐being in order to optimize social and ecological well‐being. Even so, because of the dominance of the profit‐centric worldview, hallmarks of sustain‐centric marketing practices remain under‐developed and may even lend themselves to becoming inauthentically mimicked on a piecemeal basis by greenwashing profit‐centric firms. We provide an exploratory empirical study of marketing practices evident in two sustain‐centric firms and draw implications to advance theory for both sustain‐centric and profit‐centric marketing. (shrink)

The purpose of this article is to discuss and provide an alternative, less materialist–individualist approach to interpret the four assumptions of generally accepted accounting principles: economic entity, unit measure, periodic reporting, and going concern. The article draws from and builds on arguments first developed by Weber and Aristotle to demonstrate how a materialist–individualist moral point of view influences the conventional interpretation of the four basic assumptions for generally accepted accounting principles. We then propose an ideal-type conceptual framework upon which to (...) critique mainstream accounting theory and to develop alternative accounting theory that balances multiple forms of well-being (including financial, but also social, physical, spiritual, and ecological well-being) for multiple stakeholders (including owners, employees, customers, suppliers, competitors, neighbors, future generations, and so forth). (shrink)

In order to address social and ecological crises that business-as-usual practices have contributed to, we will need firms that emphasise Universal care (e.g., who place greater commitment on the well-being of the larger community versus on the firm itself) and Benefaction (e.g., who treat stakeholders with dignity and generosity rather than seeing them as means to instrumental financial ends). This study examines two kinds of family firms that have been identified as exhibiting Universal care and Benefaction, which are two components (...) of the social emotional wealth (SEW) family firms are thought to be more likely to emphasize than business-as-usual firms. In particular, we compare Stewardship family firms and Universal family firms, and find support for the proposition from the literature that Universal firms place greater emphasis on Universal care and Benefaction. Implications are discussed. (shrink)

Management scholars, practitioners, and policy makers alike have sought to develop a deeper understanding of recent business crises—including corporate scandals, the collapse of financial institutions, and deep recession—in order to prevent their recurrence. Among the “culprits” that have been identified is Conventional management theory based upon a moral-point-of-view founded on assumptions of materialism and individualism. There have been calls to move beyond the dominant profit maximization paradigm and think about other, potentially more compelling, corporate objectives (Hamel, 2009 ). In this (...) article, we respond to those calls, and seek to develop what we call Radical resource-based theory (RBT), which draws from and contrasts with the highly-influential Conventional RBT. Radical RBT defines the value of resources more broadly than profit maximization, rarity as an occasion for stewardship, inimitability as an opportunity for teaching, and non-substitutability as an opportunity to meet a panoply of human needs. This augmentation of RBT promises to help managers and scholars address a myriad of problems that are insoluble under Conventional assumptions. More generally, it shows the value of broadening management theory to a radical perspective by relaxing assumptions of self-interest and materialism. (shrink)