This article proposes a theory of the firm based on the common good. It clarifies the meaning of the term “common good” tracing its historical development. Next, an analogous sense applicable to the firm is derived from its original context in political theory. Put simply, the common good of the firm is the production of goods and services needed for flourishing, in which different members participate through work. This is linked to the political common good through subsidiarity. Lastly, implications and challenges arising from the positing of work as the common good of the firm are explored.

This paper argues that attempts to apply Alasdair MacIntyre’s positive moral theory to business ethics are problematic, due to the cognitive closure of MacIntyre’s concept of a practice. I begin by outlining the notion of a practice, before turning to Moore’s attempt to provide a MacIntyrean account of corporate governance. I argue that Moore’s attempt is mismatched with MacIntyre’s account of moral education. Because the notion of practices resists general application I go on to argue that a negative application, which focuses on regulation, is more plausible. Large-scale regulation, usually thought antithetical to MacIntyre’s advocacy of small-scale politics, has the potential to facilitate practice-based work and reveals that MacIntyre’s own work can be used against his pessimism about the modern order. Furthermore, the conception of regulation I defend can show us how management is more amenable to ethical understanding than MacIntyre’s work is often taken to imply.

The moral theory of Thomas Aquinas meets the present need for a business ethics that transcends the legal realm by linking the ideas of justice and virtue in an ingenious way. Thomas's virtue theory coordinates private and public activities through a set of context-invariant, justice-oriented norms with conceptual appeal to contemporary questions of global business ethics. In our article, we first sketch how Aquinas's theory can be also of relevance to a non-confessional audience through its appeal to the ‘natural light of reason.’ Then we explain how his theory of ‘natural law’ aligns his ideas of virtue and justice. From this vantage point, we address the tension between cultural diversity and moral uniformity in the economic sphere in general and in today's globalized business world in particular. Throughout the article, we aim to show how Aquinas's conception of virtuous business conduct gains inter-personal and inter-cultural validity that establishes social justice as the global virtue of business.

This manuscript develops the concept of organizational virtue orientation (OVO) and examines differences between family and non-family firms on the six organizational virtue dimensions of Integrity, Empathy, Warmth, Courage, Conscientiousness, and Zeal. Using content analysis of shareholder letters from S&P 500 companies, our analyses find that there are significant differences between family and non-family firms in their espoused OVO, with family firms generally being higher. Specifically, family firms were significantly higher on the dimensions of Empathy, Warmth, and Zeal, but lower on Courage. Based on these findings we further develop the OVO concept through the discussion of implications and areas for future research.

This article provides an account of virtues as praiseworthy traits of character with a far-reaching capacity to influence conduct. Virtues supply their possessors both with good reasons that indicate, for diverse contexts, what sort of thing should be done and with motivation to do them. This motivational power of virtue is crucial for the question of what kind of person, or businessperson, one wants to be. The article shows how the contrast between virtue ethics and rule ethics is often drawn too sharply and indicates how virtue theories can incorporate both theoretical and practical uses of rules. More generally, it shows how a virtue orientation affects attitudes in management practices and how an understanding of certain virtues can help in making better decisions, both ethically and in relation to success in business.

The language of virtue is gaining wider appreciation in the philosophical, psychological, and management literatures. Ethicists and social scientists aim to integrate normative and empirical approaches into a new “science of virtue.” But, I submit, they are talking past each other; they hold radically different notions of what a virtue is. In this paper, I shall examine two conflicting conceptions of virtue, what I call the reductive and the non-reductive accounts of virtue. I shall critically study them and argue that the non-reductive view is the best philosophical account of virtue and the only one that can account for the way we talk about virtue in business and in everyday life. We can only understand what it means to act virtuously through the examination of the attitudes, beliefs, desires, and inclinations of the virtuous agent. I shall illustrate the differences between the reductive and non-reductive accounts by considering the virtue of gratitude.

Whether or not capitalism is compatible with ethics is a long standing dispute. We take up an approach to virtue ethics inspired by Adam Smith and consider how market competition influences the virtues most associated with modern commercial society. Up to a point, competition nurtures and supports such virtues as prudence, temperance, civility, industriousness and honesty. But there are also various mechanisms by which competition can have deleterious effects on the institutions and incentives necessary for sustaining even these most commercially friendly of virtues. It is often supposed that if competitive markets are good, more competition must always be better. However, in the long run competition enhancing policies that neglect the nurturing and support of the bourgeois virtues may undermine the continued flourishing of modern commercial society.

Biological, brain, and behavioral sciences offer strong and growing support for the virtue ethics account of moral judgment and ethical behavior in business organizations. The acquisition of moral agency in business involves the recognition, refinement, and habituation through the processes of reflexion and reflection of a moral sense encapsulated in innate modules for compassion, hierarchy, reciprocity, purity, and affiliation adaptive for communal life both in ancestral and modern environments. The genetic and neural bases of morality exist independently of institutional frameworks and social structures. The latter not only shape moral behaviors within circumscribed limits, they also imply a plurality and compartmentalization of roles which may enable or impede the habituation of virtue. Becoming a virtuous agent entails the practical refinement of predispositions in situ as a member of a community of practitioners rather than entailing a normative ethical educational project seeking an intellectual resolution of abstract moral questions.

Alasdair MacIntyre’s After Virtue has made a significant impact within business ethics. This impact has centered upon applications of the virtues-goods-practices-institutions schema (Moore & Beadle, 2006). In this article, I develop an extension of the practices-institutions schema (Moore, 2017), drawing upon MacIntyre’s later text, Dependent Rational Animals. Two key concepts drawn from this text are “networks of giving and receiving” and “the virtues of acknowledged dependence.” Networks of giving and receiving are non-calculative relationships that enable participants to cope with vulnerability. These relationships are sustained by the virtues of acknowledged dependence, including just generosity, misericordia, and beneficence, virtues that direct participants to treat the needs of others as reasons for action. Drawing upon research in social network theory, I develop an example illustrating the application of these concepts within an organizational and interorganizational context. I then suggest a number of applications and research questions related to this extension of the practices-institutions schema.

To have a virtue is to possess a certain kind of trait of character that is appropriate in pursuing the moral good at which the virtue aims. Human beings are assumed to be capable of attaining those traits. Yet, a number of scholars are skeptical about the very existence of such character traits. They claim a sizable amount of empirical evidence in their support. This article is concerned with the existence and explanatory power of character as a way to assess the possibility of achieving moral virtue, with particular attention paid to business context. I aim to unsettle the so-called situationist challenge to virtue ethics. In the course of this article, I shall defend four claims, namely, that virtues are more than just behavioral dispositions, that at least some virtues may not be unitary traits, that psychologists cannot infer virtues from overt behavior, and that the situationist data do not account for the observational equivalence of traits. Since it rests on a misconception of what virtue is, the situationist objection remains unconvincing.

Although Alasdair MacIntyre has criticized both the market economy and applied ethics, his writing has generated significant discussion within the literature of business ethics and organizational studies. In this article, I extend this conversation by proposing the use of MacIntyre’s account of the virtues to conceive of management as a domain-relative practice that requires and develops practical wisdom. I proceed in four steps. First, I explain MacIntyre’s account of the virtues in light of his definition of a “practice.” Second, I examine his distinction between “practices” and “institutions.” Third, I explain what I mean by a “domain-relative practice” and defend the claim that it is helpful to conceive of management in those terms. Finally, I highlight several features of practical wisdom as a virtue developed in and integral to standards of excellence within management as a domain-relative practice.

This article deploys Alasdair MacIntyre’s Aristotelian virtue ethics, in which meaningfulness is understood to supervene on human functioning, to bring empirical and ethical accounts of meaningful work into dialogue. Whereas empirical accounts have presented the experience of meaningful work either in terms of agents’ orientation to work or as intrinsic to certain types of work, ethical accounts have largely assumed the latter formulation and subjected it to considerations of distributive justice. This article critiques both the empirical and ethical literatures from the standpoint of MacIntyre’s account of the relationship between the development of virtuous dispositions and participation in work that is productive of goods internal to practices. This reframing suggests new directions for empirical and ethical enquiries.

Ethical research on consumption has focused mainly on the obligations, principles and values guiding consumers' actions and reasons for action. In doing so, it has concerned itself mostly with such bounded contexts as voluntary simplifiers, anti-consumption movements or so-called ‘ethical consumers,’ thereby fostering an artificial opposition between ethical and non-ethical consumption. This paper proposes virtue ethics as a more apt conceptual framework for the ethical analysis of consumption because it takes into account the developmental dynamic triggered by engagement in consumption practices. We build on MacIntyre's goods-virtues-practices-institutions framework and Beabout's concept of a domain-relative practice and argue that when engaging in consumption activities, agents may pursue goods internal to practices, further their individual life narratives and contribute to the good of their communities, thus developing virtues that perfect themselves both as consumers and as ethical agents.