The Common Morals Approach to Business Ethics

Abstract

The paper anticipates increasing unethicalness of business in a hyper-competitive climate. An attempt is made to rediscover a core set of values and virtues reflective of traditional ethics to combat the crisis of business morality. The proposal for the 'common morals' view of ethics steers clear of the theoretical opposites of Kantian and Utilitarian ethics which seem to have little practical bearing on actual decision-making. The author quotes the findings of a research study in which 86 per cent of the corporate executives were found to use traditional methods like prayer, meditation and scripture reading to enhance their moral imagination, to sharpen their judgment and to strengthen their sense of duty. Further, he advocates a culture of reward and punishment which reinforces moral excellence. According to him, 'leading by example' is the most important requisite for ethicality in organizations.