David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 31 (2):107 - 116 (2001)
The empirical findings in Collins and Porras'' study of visionary companies, Built to Last, and the normative claims about the purpose of the business firm in Centesimus Annus are found to be complementary in understanding the purpose of the business firm. A summary of the methodology and findings of Built to Lastand a short overview of Catholic Social Teaching are provided. It is shown that Centesimus Annus'' claim that the purpose of the firm is broader than just profit is consistent with Collins and Porras empirical finding that firms which set a broader objective tend to be more successful than those which pursue only the maximization of profits. It is noted however that a related finding in Collins and Porras, namely that the content of the firm''s objective is not as important as internalizing some objective beyond just profit maximization, can lead to ethical myopia. Two examples are provided of this: the Walt Disney Company and Philip Morris. Centesimus Annus offers a way to expose such myopia, by providing guidance as to what the purpose of the firm is, and therefore as to what kinds of objectives are appropriate to the firm
|Keywords||business Catholic Catholic Social Teaching Centesimus Annus Christian Disney objective Philip Morris purpose vision|
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Citations of this work BETA
Ericka Costa & Tommaso Ramus (2012). The Italian Economia Aziendale and Catholic Social Teaching: How to Apply the Common Good Principle at the Managerial Level. [REVIEW] Journal of Business Ethics 106 (1):103-116.
Gregorio Guitián (2009). Conciliating Work and Family: A Catholic Social Teaching Perspective. [REVIEW] Journal of Business Ethics 88 (3):513 - 524.
Nicholas J. C. Santos & Gene R. Laczniak (2009). "Just" Markets From the Perspective of Catholic Social Teaching. Journal of Business Ethics 89 (1):29 - 38.
Alejo José G. Sison & Joan Fontrodona (2011). The Common Good of Business: Addressing a Challenge Posed by «Caritas in Veritate». [REVIEW] Journal of Business Ethics 100 (S1):99-107.
Gregorio Guitián (forthcoming). Service as a Bridge Between Ethical Principles and Business Practice: A Catholic Social Teaching Perspective. Journal of Business Ethics.
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