340]) - unibg. alford slides.pdf · manager should be akin to those of king solomon in order to...

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Leading the Future of ManagementLeading the Future of Management

Virtue Ethics as Business Ethics

Helen Alford, University of Bergamo, 01.10.13

Helen Alford Angelicum-Bergamo: Virtue Ethics 2

An outline

• Background

– Some personal background

– What comes to your mind when you think of “ethics”?

• Why be ethical?

– Some possible (but ultimately disappointing) answers

• Can virtue ethics help?

– Going further: extending the anthropological model behind ethics

– What are virtues?

• Integrating virtue ethics into business

practice:

– Socio-competitive strategy (Molteni)

– Shared value (Porter and Kramer)

• Becoming an ethical manager

– François Michelin


Something about “me”

• Manufacturing engineering student (sponsored by Michelin)

• My “Damascus Road” experience:

– reading the article “Engineers and the Work People Do”

• PhD on “Human-centred Technology”

– Re-orienting production system design to

supporting human development

• skill-enhancing technology

– CST provided the basis on which to do the re-orienting

• FASS Angelicum

– Developing the same line of thinking, but with other disciplines,

especially economics, but also political science, sociology . . .

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Sociotechnical design principles

Principle Description

Compatibility the process of creating the system must be compatible with

the objectives of the system.

(the starting point of sociotechnical design)

Minimal Critical

Specification

Only that which is essential to the achievement of the task

is specified; nothing that is essential is left unspecified

Variance control

(sociotechnical

criterion)

Variances should be controlled as closely to their point of

origin

Boundary Location Boundaries should not impede information sharing

Information Flow Information should be routed directly to those who need

to act as a result of it

Power and Authority Those using particular pieces of equipment should have

responsibility for them and thus for their own performance

Multifunction Fractionated tasks should not be given to people, but

wider task sets created

Support Congruence Other systems, such as pay, financial control, marketing,

planning and purchasing should be organised so as to

reinforce the desired social system.

Transitional

Organisation

Where redesign of an existing system is the task, the design

team are the vehicle of transition, which they must manage

Incompletion The design is always in a transitional state and must be ready

for renewal and growth


Job design principles

1. Time Structure1. external time pressure-deadlines

2. degree to which operator can plan use of time

2. Space for Movement1. movement required to satisfy job tasks

2. degree of freedom of movement not required by tasks

3. Social Relations1. degree of required communication (to whom and when)

2. degree of freedom of communication not directly task related

4. Responsibility and control flexibility1. degree of responsibility placed on operator2. degree of management of responsibility available to operator

5. Qualification1. required level of ability for task

2. degree to which operator can learn from task

6. Stress Control1. degree to which operator is able to control physical and mental pressure


Job design principles: a job profile

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What about your “me”?

• What do you connect with the word ethics?

– Law, environment, company’s behaviour, shareholder value and stakeholder value

– Fairtrade

– Something useful/helpful for the collectivity

– What I think of:

• good

• Fit for purpose

• Becoming more

• Bringing something out of nothing – creating something new, new

possibilities

• Realising potential


Why be ethical? Business Case

• First answer: because we do better (make more money) i.e. the “good ethics is good business”

– The Business Case has the big advantage of getting people

interested in ethics . . .

– . . . but if this is their only motivation, it is partial and even dangerous

– We risk instrumentalising all that ethics can give us to a purely economic end . . .

– . . . this would not be the first time that this has happened . . .


Why be ethical? Kantian-type answer

• Freeman and Gilbert (1988): Corporate Strategy and the Search for Ethics

• They propose the Personal Projects Enterprise Strategy(PPES)

– “there are many problems with our view and much work needs to be

done to make it more exact and detailed ”

– they “would rather give up on the corporation” than on their approach,

and that the principles on which it is based “are just those embodied in the basic documents of many societies that treasure individual

liberty and distrust state authority”

– Evan and Freeman 1999: the capacities of the

manager should be akin to those of King Solomon

in order to balance the relationships among stakeholders.

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Why be ethical? Social Contract type answer

• Sacconi (2004, 2006)

– Two social contracts

– Reputational mechanism to prevent managers from behaving

opportunistically

– Some problems:

• The reputation mechanism is weak;

• It tends to transform ethics into little more than a mechanism for

managing reputation

– See the critique of Porter and Kramer (2011)

• This approach requires external control mechanisms.

As such, it tends to crowd out the intrinsic motivation

of managers to behave in a socially-responsible way

– Many empirical results attest to the phenomenon of

crowding out


Why did these theories develop?

• Enlightenment

– Throwing off systems of moral authority; asserting the freedom of each person - individualism

• Other factors, e.g. Industrialisation

– Mass movements of workers break down deep social bonds of local

communities in which people were born, lived and died in the past –

individualism

• Advantages of this way of thinking

• But we’ve seen the disadvantages . . .

– Tolerance in the US: David Hollenbach


Can virtue ethics help?

• The underlying problem with these replies is that they are based on ethical individualism

• But they do give useful, if incomplete, results,

– we should aim to build on them, keeping what is useful in them

• Human beings have an individual dimension (primarily due to having a physical body), but they also have another

dimension, one that we could call “personal” or “spiritual”, where being-in-relation to others is intrinsically important.

– we may hold objectives in common, not just use our relationships to achieve individual objectives

– Many empirical results now confirm that the human being has this aspect of being-in-relation

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Virtue Ethics as Business Ethics Part II



What is a virtue? (1)

• It is a property of our character that we develop by trying to achieve a good end using good means

– Good refers both to the person acting and to their act.

– We create who we are through our acts

• virtuoso performer, great linguist

• We have capacities that we can direct to achieving the good.

– Some (mostly physiological) processes just work automatically

• e.g. digestion.

– If not, we say we are “ill”, not that there is something morally wrong.

In this we are like other animals.

– But our psycho-spiritual capacities are open-ended

• The idea of virtue is that, with time and experience, through our actions

and intentions, we inescapably form these capacities.

• We create “dispositions” or “traits”, or, at least, we tend towards this, in the comtext of a community and particular historical circumstances


What is a virtue? (2)

• Stoics identified four main capacities . . .

– reason, will, aggressive emotions, emotions of desire (compare the “moral modules” in the paper of Eugene Sadler-Smith)

• . . . leading to four main virtues:

– Prudence (practical wisdom), Justice, Courage, Moderation

– Business applications:

• Moderation – the rational pursuit of wealth (ownership structures)

• Courage – the virtuous face of competition (marketing)

• Prudence – combining efficiency with intrinsic good (job design)

• Justice – right relationships (pay systems)

• We can also develop vices

– It can sometimes be helpful to think of some virtues as

the mean between two vices:

• Courage: the mean between pusillanimity and recklessness

• Moderation: the mean between greed/over indulgence

and scrupulosity/self-negation

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What is good? What is good in a business?

• Existence is good; a good act transforms what is potential in our nature, or of that of other beings, into what is actual

• Good in the business has several dimensions.

– For now, let’s identity three pairs:

• Excellent/foundational (inherent/instrumental; intrinsic/extrinsic)

• Participated/Allocated (common/particular)

• True/Apparent


Foundational and Excellent Goods

– Why use this terminology?

• Gives the requisite importance to the instrumental/extrinsic dimension –

without its foundations, the house collapses; without foundational goods,

the business cannot keep going

– A reciprocal relationship between them

• We aim to create and obtain foundational goods in order then to gain

excellence – foundational goods are ordered to the excellent goods

• Without foundational goods, it is not possible to achieve excellence

• While it is possible to ignore the excellent

goods in the business, and it will still function to a certain degree, it is not

intelligent to do so; cf human and social

capital

• We can note the link between foundational

and excellent goods and the two

dimensions of the human person, individual

and personal


Participated and Allocated Goods

– Why use this terminology?

• It puts the focus on the way we share the goods we have created, which

is fundamental for business, a social activity

– Like foundational and excellent goods, these have a reciprocal

relation, even if the participated goods have a certain precedence – A shared idea of justice, and other shared criteria, are necessary in order to

allocate

– Since they create the basis for the allocation of allocated goods, the

participated goods have a certain precedence (cf the idea of “private”)

– The common good of the business includes both participated and allocated goods, with the first treated as

more fundamental

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True and Apparent Goods

- In the two previous cases, we dealt with a pair of true or real goods, i.e. each member of the pair is really good, even if in different ways

- On this third level of analysis, we have to face the possibility that we can make mistakes, and try to realise apparent rather than real or

true goods

- There are clearly some “goods” that are “apparent” (e.g. selling hard

drugs, disrespecting the human rights of workers, cheating funders

and investors) and some that are clearly “true” (e.g. selling healthy, basic foodstuffs, offering serious formation courses to employees,

being transparent with funders), but often it is not easy to make

judgements. Some examples of products about which we need to make judgements would include:

- Alcohol

- Armaments

- “Pet rocks”

- We must try to form our capacity to make good judgements, listen to others (stakeholder engagement) and take good advice


Putting the levels of analysis togetherImpossibile v isualizzare l'immagine. La memoria del computer potrebbe essere insufficiente per aprire l'immagine oppure l'immagine potrebbe essere danneggiata. Riavviare il computer e aprire di nuovo il file. Se v iene visualizzata di nuovo la x rossa, potrebbe essere necessario eliminare l'immagine e inserirla di nuovo.

The third level of analysis would give a third dimension to thisfigure – creating the “universe” in which we operate


The socio-competitive synthesis of Molteni

Opportunità di:- sviluppo produttività

- crescita

Imprenditorialitàsocialmente orientata

Esigenze,manifeste o latenti,

di interlocutori sociali

Sintesisocio-

competitiva

Vantaggio aziendale

Soddisfazione degliinterlocutori

+

Risultati economici

+- -

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Human Development

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Virtue ethics as Business ethics

• Ethics is seen more in the story/history of the business and its participants than in how it deals with “ethical dilemmas”

– Individual acts are important, but as part of the life of virtue in the business (corporate culture) and as part of the growing in virtue of each of its participants

– Reputation is important, but as part of the bigger story

• Principles and laws, and a rational reflection on how to observe them, are

important to help us achieve “virtuoso” performance

– Laws become integrated into freedom, rather than in tension with freedom

– Herbert McCabe: Rulebook and Manuals

• Management as a “practice” (MacIntyre)

– [a]ny coherent and complex form of socially established cooperative human

activity through which goods internal to that form of activity are realized in the

course of trying to achieve those standards of excellence which are appropriate

to, and partially definitive of, that form of activity (Maclntyre 2007: 187)


Law and Freedom: Two approaches

Enlightenment approach (Ockham) Virtue Ethics approach (St Thomas)

The power to choose between contraries

(choosing between good and evil is

essential to freedom). Freedom resides

in the will alone.

The power to act freely with excellence and

perfection (choosing evil is a lack of freedom).

Freedom resides in will and reason together

Excludes natural inclinations from the

free act: they are subject to choice; in

regard to these inclinations, freedom is

indifferent

Rooted in the natural inclination to the good and

true, to what has quality and perfection. It springs

from an attraction to what appears true and good,

and from an interest in it

Entire from the first moment Growth is essential to freedom

Law is an external restraint and

limitation on freedom, it creates an

irreducible tension with it.

Law is a necessary external aid to the

development of freedom, along with the attraction

to the true and the good. Gradually interiorised

through virtues of justice and charity

Self-assertion, separating the will from

other faculties & the individual from

others

Freedom is open to all human powers making

their contribution to its action, and to working with

others for the common good

Morality focused on obligation and law;

Scripture texts used to reinforce this

Focused on attraction to the true and good and

desire for happiness, relating to all of Scripture

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Being an ethical manager

• François Michelin

– All that man asks for is to be able to surpass himself and become what he is.

– Any man that you can look at straight in the face, regarding him as a unique individual who is free and responsible, blazes forth like a light

as dazzling as the sun. When I think of all that could be accomplished

if one could release all the energy found in human beings!

– People have all the means to better themselves or destroy

themselves


Bibliography

• Stefano Zamagni, “La critica delle critiche alla Csr e il suo ancoraggio etico”, in Lorenzo Sacconi (a cura di), Guida critica alla responsabilità

sociale e al governo d’impresa: problemi, teorie e applicazioni della Csr,

Roma, Bancaria editrice, 2005, pp. 319–337 (this also exists in English)

• Domenec Mele, “Ethics at the Core of Human Action”, chapter 4 of

Business Ethics in Action: Seeking Human Excellence in Organisations, Palgrave, 2009, pp. 68-97

• Mario Molteni, “The Social Competitive Innovation Pyramid”, Corporate Governance, Vol 6, n.4, 2006, pp. 516-526

• Michael Porter and Mark Kramer, “Creating Shared Value”, Harvard Business Review, Jan-Feb 2011.

• Eugene Sadler-Smith, “Before Virtue: Biology, Brain, Behavior, and the "Moral Sense””, Business Ethics Quarterly, April 2012, pp. 351–376

• Helen Alford and Michael Naughton, Managing as if Faith Mattered:

Christian Social Principles in the Modern Organisation, Univ of Notre Dame Press, 2001, chapters 2&3


Virtue Ethics as Business EthicsPart III: Catholic Social Thought on Economics/Business, and some comparisons with Islamic and Confucian Thought


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Outline

• Setting up a dialogue between CST and Economics

– Relationship between Catholic Social Thought (CST) & social sciences (including economics)

– Chap 7 of the Compendium of the Social Doctrine of the Church (CSDC); mapping CST principles onto economic issues

– An integrated model: Arthur Fridolin Utz

– Some emerging issues in Caritas in veritate

• Key elements of Islamic and Confucian thought on

business (Confucius 551-479 BC; Aristotle 384-322 BC)

• Bringing religious resources together to strengthen

business ethics

– interfaith Declaration on International

Business Ethics (IDIBE)

– ILO document “Convergences”

– IBE: “Religious Practices at Work”


CST and the Social Sciences

• “[An] attentive and constant openness to other branches of knowledge makes the Church’s social doctrine reliable,

concrete and relevant. . . This interdisciplinary dialogue also challenges the sciences to grasp the perspectives of

meaning, value and commitment that the Church’s social doctrine reveals”

• (Compendium of the Social Doctrine of the Church, n. 78)


CST and Economics

• Structure of the CSDC– Part I

• 1. God’s plan of love

• 2. The Church’s Mission

• 3. Human Person and Rights

• 4. Principles

– Common Good

– Universal Destination of Goods

– Subsidiarity

– Participation

– Solidarity

– Values of Social Life

– Part II• Fields of application

– 5. Family

– 6. Work

– 7. Economic Life

– 8. Political Community

– 9. International Community

– 10. Safeguarding the Environment

– 11. Promotion of Peace

– Part III• 12. Social Doctrine and

Ecclesial Action

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Economic Life (chap 7)

I. Biblical AspectsI. Man, poverty, richesII. Wealth exists to be shared

II. Morality and the Economy

III. Private Initiative and Business InitiativeI. Business and its goalsII. Role of business owners and management

IV. Economic Institutions at the Service of ManI. Role of the free marketII. Action of the StateIII. Role of intermediate bodiesIV. Savings and consumer goods

V. The “New Things” of the Economic SectorI. Globalization: opportunities and risksII. The international financial systemIII. Role of the international community in an era of a global economyIV. An integral development in solidarityV. Need for more educational and cultural formation


Main points of chap 7 (I)

• Abundance as a blessing from God

• Poverty has positive and negative senses

– Negative: enslaves people and stunts human development

– Positive: “humble availability, openness to God . . . trust in him” (n. 324).

• In the order of creation, economic goods ultimately belong to God; we are to administer and share them

• Jesus: fulfils O.T. teaching on wealth and poverty

– Economic activity is to be undertaken “as a grateful response to the

vocation which God holds out for each person” (n. 326)

• Riches are to serve man. They are meant to be shared.


Main points of chap 7 (II & III)

• The economy has a “moral connotation” (n. 330)– Economics and morals are in a relationship of “reciprocity”

• Freedom in economic matters is a “fundamental value and inalienable right” (n. 336)

• Goals of business– To serve the common good

• through useful products and services

• Creating opportunities for the “enhancement of the abilities of the people involved” (n. 338)

• Business as a “society of persons”

• Profit is only a “first indicator” of business health– “A business enterprise must be a community of solidarity that is not

closed within its own company interests. It must move in the direction of a “social ecology” of work and contribute to the common good also by protecting the environment” (n. 340)

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Main points of chap 7 (IV)

• Importance of a “truly free” market

– Ethical objectives help the market function better

• Importance of the action of the state

– Consistent with the principle of subsidiarity; inspired by the principle of solidarity

– “fundamental task is to determine an appropriate juridical framework for regulating economic affairs” (n. 352)

– Enacting economic policy to promote the common good; tax

• Importance of civil society

• Importance of consumers

– Consumers influence markets through their buying decisions

– Problem of consumerism


Main points of chap 7 (V)

• Globalization creates opportunities and risks

– Challenge is globalization without marginalization

• International financial system

– Finance cannot be self-referential. It must have a purpose beyond itself

• Role of the international community

– States are losing power to regulate the global economy. The

international community needs to step in

• An integral development in solidarity

– Equitable distribution of resources, international action to resolve problems. Richer countries will benefit from this

• Need for more educational and cultural formation


CST Principles in Economic Life

• Principle

– Common Good

– Universal Destination of

Goods

– Subsidiarity

– Participation

– Solidarity

– Values of Social Life

– The Way of Love

• Frequency in chap 7

– 12 (nn. 334, 336, 338,

340, 348, 354-356, 363-4,

371-2)

– 2 (nn. 328, 367)

– 4 (nn. 351, 354, 356-7)

– 4 (nn. 327, 333, 342, 354)

– 20 (nn. 325-327, 332-335,

340, 342-3, 351, 355-357, 359, 363, 373-4)

– Truth: 1; Freedom: 7; Justice: 11.

– Love: 2

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Foundation of CST: Natural Law

• Theoretical foundation: Being is good

– Existing is better than not (yet) existing: potency and actuality

• Development is good, important

• JPII: we need to become “more human”

• 1st practical principle: do good and avoid evil

– Two levels of reasoning; primary and secondary

• Primary: universally accessible to all. We all agree on what is good at

this most general level, from the least to the most educated. Currently “utopian” – our aim towards which we strive

– Five self-evident natural tendencies: to the good, to self-preservation, to

knowledge of the truth, to live in society, for sexual union and procreation

• Secondary: historically conditioned, depending on circumstances,

needing more detailed theoretical/technical knowledge

– H. McCabe (1994): “[For] St Thomas. . . ‘natural law’

is just our capacity for practical reasoning”.


Private Property (A. F. Utz)

• “the heart of the problem of the economic order”

– If private property is licit, then some kind of market system is inevitable as part of the economic order

– How to justify it ethically?

• Primary and secondary natural law

– “secondary natural law is changeable, contrary to that which is primary,

due to the changeable objective, concrete conditions”

» The right to private property belongs to this second level of natural law, since it

connects with the need to support individual initiative in the economy, which we

only find in a second moment of our analysis. The primary level of natural law

leads us . . . to expect that the common good comes before individual good.

» If private property is justified in terms of a secondary natural law where at the

primary level, the requirements of the common good are taken to be prior to

those of the individual, the justification for a “social mortgage” on private

property arises naturally.


Natural Law and Economics: A. F. Utz

• Level 1: most general, most abstract, supreme norms (the basic ideals to which we aim, as fully developed human beings)– Common good is prior to private good in economic action: “attention to

the environment is of the highest order among ethical requirements”.

– Need for all to have access to work, access to cultural and spiritual goods

• Level 2: concrete situation of human beings (growing towards fulfilment, limited, sinful – where we are now, changeable)– Systems of private property are needed to allow us to create an

economic order that supports the achievement of the ideal at level 1• Cf the Jerusalem community of Acts

– Paying taxes and using private property for the sake of the common good flows from this analysis

• Level 3: practical problems of business and economics– Ethical problems at this level cannot be resolved properly

without the appropriate order at levels 1&2 being in place

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The Vocation of the Business Leader

• Seeing, Judging, Acting

– Globalisation, ICT, financialisation, cultural changes

• Capital has “acquired new freedom” and “extra territorial status”;

Information arrives immediately – decisions are not based on as much

thoughtful evaluation as in the past; Dominance of the financial sector,

for good and for ill; Individualisation at the cultural level

– Meeting the needs of the world through goods that are truly good and services that truly serve

• Solidarity with the poor and marginalised

– Organising good and productive work

• Subsidiarity allows employees to grow in virtue

– Creating sustainable wealth and distributing it justly

• Justice in resource allocation


Emerging Issues in Caritas in Veritate

• Gift and Gratuity in the Economy

– Market/state/civil society – mutual interpenetration

– Effects of globalization – need to integrate

– Ethics in investment/social responsibility of business

• Need to characterise all businesses, not just special sectors

• Rise of different business forms

– Social enterprise

– Social impact bonds


Virtue Ethics as Business EthicsPart III: Catholic Social Thought on Economics/Business, and some comparisons with Islamic and Confucian Thought


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Key Elements of Confucian Thought

• Confucian ethics is humanistic, obligation-based and collectivist in nature

• Core moral concepts: ren, yi, li + zhi, xin

– Ren: compassion

• zhong shu, “Golden Rule”, in weak and strong forms;

– Yi: sense of moral rightness

– Li: etiquettes and practices based on ren and yi

– Zhi: wisdom

– Xin: trustworthiness (keeping your word)

• Core social value: Harmony and Filial Piety

– Five “cardinal relationships”:

• Emperor-officials; father-son; older brother-young brother;

husband-wife; friendship

• The moral person: junzi


Confucianism and Business

• The “Confucian Firm” (Ip, 2009)

1. The goals, strategies and practices of the firm should be defined by the principle of ren-yi-li

2. The structure, processes and procedures of the company should conform to ren-yi-li

3. The major stakeholders should be treated with ren-yi-li

4. The leaders should conform to the thoughts and deeds of junzi

5. Members of the firm are obligated to be virtuous and act in accordance with ren-yi-li

• Problematic Features of the Confucian Firm

– Collectivism:

• the centrality of the family; individual wellbeing based on the group

– Particularism (guanxi):

• personal relationships rather than objective qualities count

– Paternalism: “father-knows-best”


Key Elements of Islamic Thought on Business

• Mankind was created for the worship of Allah (God)

– Five elements

• there is only one God and his Prophet is Muhammad; regular, daily

devotional acts of prayer; fasting during Ramadan; payment of Zakar

(tithing for charitable purposes); the Hajji pilgrimage to Mecca

– Human beings worship God through prayer and work• Prayer comes first, but after prayers, a good Muslim returns to work, for

serving Allah through good behaviour is a continuation of worship– Three conditions for work to be a continuation of worship: 1. it must be

undertaken for the sake of Allah; 2. it must be in accord with the shari’ah (the

canon of Islamic Law); 3. it must not cause other obligations to be neglected

– Man has two missions to accomplish: to be a servant of Allah and to

be a steward or viceregent of Allah• Balance or equilibrium (‘adl) between these two missions• As viceregent, man administers what belongs to God

– Many references to business activities in Muslim texts• E.g. prohibitions of certain types of products, and of interest/usury and

speculation, leading to “Islamic Finance”

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Islam and the UN Global Compact

• Islam and Human Rights

– Rights accorded to human beings by Allah must be accepted and enforced

• Islam and Labour

– Many injunctions in Muslim texts regarding honest contracts, fair pay for fair

work, safe working conditions and paying workers on time

– Equality based on the brotherhood of Man

• Women should have equal rights with men (the only basis for superiority in the

Qur’an is piety and righteousness, not gender)

– “Islam’s normative teachings are . . . set aside either by too conservative an approach or

cultural bias” (Wiliams and Zinkin, 2010)

• Islam and the Environment: Stewardship

• Islam and Anti-Corruption

– “The Messenger of Allah cursed the one who offers the bribe, the one who receives it and the one who arranges it”

• Still, often dissonance between teaching and practice (equality, corruption)

– “European Islam” may be able to make a new synthesis

• Tariq Ramadan: “Muslims living in Europe have an opportunity to reread our

[religious] sources”


Bringing Religious resources together for better business

• interfaith Declaration on International Business Ethics (IDIBE):

– http://institute.jesdialogue.org/fileadmin/bizcourse/INTERFAITHDECL

ARATION.pdf


Bibliography

• Compendium of the Social Teaching of the Church, 2004, Editrice Vaticana

• Pontifical Council of Justice and Peace, “The Vocation of the Business Leader”,

available at:

http://www.stthomas.edu/cathstudies/cst/conferences/Logic%20of%20Gift%20Semi

na/Logicofgiftdoc/FinalsoftproofVocati.pdf

• Ip, Po Keung, “Is Confucianism Good for Business Ethics in China?”, Journal of

Business Ethics, vol. 88, 2009, pp. 463-476

• Williams, Geoffrey and John Zinkin, “Islam and CSR: A Study of the Compatibility

Between the Tenets of Islam and the UN Global Compact”, Journal of Business

Ethics, vol. 91, 2010, pp. 519-533

• ILO “Convergences”, available at:

http://www.ilo.org/wcmsp5/groups/public/@dgreports/@exrel/documents/publication

/wcms_172371.pdf

• IBE “Religious Practices in the Workplace”

http://www.ibe.org.uk/userfiles/op3_religious_practices.pdf

• 3iG: “From Faith to Faith to Faith Consistent Investing”

http://issuu.com/3ignet.org/docs/3ig_fci_practicioners_report_final_2010.08.01

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Concluding thoughts

• Can virtue ethics really make any difference on the practical level?

– In the short term, it could create a different atmosphere at work;

– In the long term, it could have a profound influence on economic life

• cf. the impact of the Benedictines on society’s view of manual work

• T.S. Eliot

– the greatest treason is to do the right thing for the wrong reason

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