This article uses concepts from sociology, history, and philosophy to explore the shifting relationship between moral values and business in the Western world. We examine the historical roots and intellectual underpinnings of two major business-society paradigms in ideal-type terms. In pre-industrial Western society, we argue that business activity was linked to society’s values of morality (the moral unity paradigm}-for good or for ill. With the rise of industrialism, we contend that business was freed from moral constraints by the alleged “invisible (...) hand” of efficient markets (the amoral theory of business). Armed with this understanding of the intellectual history of the moral unity and amoral business-society paradigms, we suggest that some variant of the moral unity paradigm may be recurring in post-industrial society. (shrink)

In 1929 the newly-reorganized Rockefeller Foundation funded the work of a cross-disciplinary group at Harvard University called the Committee on Industrial Physiology. The committee’s research and pedagogical work was oriented towards different things for different members of the alliance. The CIP program included a research component in the Harvard Fatigue Laboratory and Elton May’s interpretation of the Hawthorne Studies; a pedagogical aspect as part of Wallace Donham’s curriculum for Harvard Business School; and Lawrence Henderson’s work with the Harvard Pareto Circle, (...) his course Sociology 23, and the Harvard Society of Fellows. The key actors within the CIP alliance shared a concern with training men for elite careers in government service, business leadership, and academic prominence. But the first communications between the CIP and the Rockefeller Foundation did not emphasize training in human biology. Instead, the CIP presented itself as a coordinating body that would be able to organize all the varied work going on at Harvard that did not fit easily into one department, and it was on this basis that the CIP became legible to the President of Harvard, A. Lawrence Lowell, and to Rockefeller’s Division of Social Sciences. The members of the CIP alliance used the term human biology for this project of research, training and institutional coordination. (shrink)

Previous research in the social responsibility/social performance area has failed to systematically address the institutional determinants of social responsibility and its various manifestations in terms of social performance. This paper examines the relationship between the configuration of institutional structures at various levels and the necessary and sufficient conditions for the concept of social responsibility to manifest in the practice of stakeholder management. In particular we hypothesize that smaller, closely held firms in profitable niches are in the optimum position to practice (...) stakeholder management, assuming the management of these firms is predisposed to do so. (shrink)

Researchers in all management specialties have discussed and investigated the important role values play in personal and organizational phenomena. However, because research on values has been performed in a wide range of social science disciplines and at different levels of analysis, much of thiswork has been uninformed by other work and is neither well integrated nor systematized, resulting in a great deal of confusion concerning the topic. This article attempts to add order and clarity to this area of research by (...) proposing a framework of values research based on level of analysis and by cataloguing and reviewing the vast theoretical and empirical research in light of this framework. It concludes with a critique of the extant literature and recommendations for further research. (shrink)