Patricia Werhane

When using cases to teach corporate strategy and ethical decision-making, the aim is to demonstrate to students that leadership decision-making is at its most effective when all affected stakeholders are considered, from shareholders and employees, to the local, national, and global societies in which the company operates. This paper challenges the obstructive perception of many Corporate Social Responsibility (CSR) advocates that the interests of private organizations in the alleviation of social problems should not be vested, but instead should originate from charitable purposes. We evaluate an alternative approach to the role of business in contributing to social progress - Creating Shared Value (CSV), and present a case study that illuminates key features of CSV. We share pedagogical strategies for a classroom discussion of the Zynga.org case that encourage students to investigate the merits and hurdles of CSV as a pathway to harmonize the twin goals of economic value creation and social change.

There are important synergies for the next generation of ethical leaders based on the alignment of modified or adjusted mental models. This entails a synergistic application of moral imagination through collaborative input and critique, rather than "me too" obedience. In this article, we will analyze the Milgram results using frameworks relating to mental models (Werhane et al., Profitable partnerships for poverty alleviation, 2009), as well as work by Moberg on "ethics blind spots'' (Organizational Studies 27(3): 413-428, 2006), and by Bazerman and Chugh on "bounded awareness" (Harvard Business Review, 2006; Mind & Society 6: 1-18, 2007) Using these constructs to examine the Milgram experiment, we will argue that the ways in which the experiments are framed, the presence of an authority figure, the appeal to the authority of science, and the situation in which the naïve participant finds herself or himself, all create a bounded awareness, a narrow blind spot that encourages a climate for obedience, brackets out the opportunity to ask the moral question: "Am I hurting another fellow human being?" and may preclude the subject from utilizing moral imagination to opt out of the experiment. We will conclude that these forms of almost blind obedience to authority are correctable, but with difficulty. We will argue that linking the modification of mental models to an unbinding of awareness represents an important synergistic relationship and one that can build effectively on the lessons learned from our experience with moral imagination

After experiments with various economic systems, we appear to have conceded, to misquote Winston Churchill that "free enterprise is the worst economic system, except all the others that have been tried." Affirming that conclusion, I shall argue that in today's expanding global economy, we need to revisit our mind-sets about corporate governance and leadership to fit what will be new kinds of free enterprise. The aim is to develop a values-based model for corporate governance in this age of globalization that will be appropriate in a variety of challenging cultural and economic settings. I shall present an analysis of mental models from a social constructivist perspective. I shall then develop the notion of moral imagination as one way to revisit traditional mind-sets about values-based corporate governance and outline what I mean by systems thinking. I shall conclude with examples for modeling corporate governance in multi-cultural settings and draw tentative conclusions about globalization

Global Economic Ethic is a stunning set of principles. However, in this response I shall raise some questions concerning its implementation. First, from the perspective of a global Western-based transnational corporation, there are ambiguities in the principles and implementation in practice. Second, from a non-Western cultural perspective, one has to to think about whether and how these principles could be interpreted in different non-European/non–North American cultural settings. Finally, the biggest challenge is whether or how we as individuals, as executives and managers, and as part of the global community work to change political climates of corruption, domination, patronage, and protectionism, climates that hinder or preclude going forward with the adoption and operationalization of these principles everywhere.

The societal and ethical impacts of emerging technological and business systems cannot entirely be foreseen; therefore, management of these innovations will require at least some ethicists to work closely with researchers. This is particularly critical in the development of new systems because the maximum degrees of freedom for changing technological direction occurs at or just after the point of breakthrough; that is also the point where the long-term implications are hardest to visualize. Recent work on shared expertise in Science & Technology Studies (STS) can help create productive collaborations among scientists, engineers, ethicists and other stakeholders as these new systems are designed and implemented. But collaboration across these disciplines will be successful only if scientists, engineers, and ethicists can communicate meaningfully with each other. The establishment of a trading zone coupled with moral imagination present one method for such collaborative communication.

During recent years, the principle and practice of employment-at-will have been under attack. While progress has been madein eroding the practice, the principle still governs the philosophical assumptions underlying employment practices in the United States,and, indeed, EAW has been promulgated as one of the ways to address economic ills in other countries. This paper will briefly reviewthe major critiques of EAW. Given the failure of these arguments to erode the underpinnings of EAW, we shall suggest new avenues forapproaching employment issues to achieve the desirable goal of employee dignity and respect.

Despite the fact that a number of economists and philosophers of late defend insider trading both as a viable and useful practice in a free market and as not immoral, I shall question the value of insider trading both from a moral and an economic point of view. I shall argue that insider trading both in its present illegal form and as a legalized market mechanism undermines the efficient and proper functioning of a free market, thereby bringing into question its own raison d'etre. It does so and is economically inefficient for the very reason that it is immoral. Thus this practice cannot be justified either from an economic or a moral point of view. Insider trading is the reverse of speculation. It is reward without risk, wealth generated — and injury done to others — by an unfair advantage in information ... [T]he core principle is clear: no one should profit from exploitation of important information not available to the public.

Bioethics, clinical ethics, and professional ethics are mature, well-developed fields of applied ethics that focus on medical research, patient autonomy and patient care, patient–healthcare professional relationships, and issues that arise in clinical and other medical settings. However, despite these developments, little attention has been paid to the organizational aspects of healthcare in these fields. This is surprising, because in the last 30 years healthcare has become more and more institutionalized in provider, management, and insurer organizations. Despite JCAHO's preoccupation with organizational ethics during the last decade, the philosophical underpinnings of their requirements have been less explored in the literature. Clinical ethics remains preoccupied with clinical patient care and professional ethics with individual professional guidelines; even the American College of Healthcare Executives focuses primarily on healthcare managers, not on healthcare organizations