A Systems Thinking Approach to Understand the Challenge of Corporate Ethics in the Turbulent Markets of Today

Abstract

Executive Summary

Morality is primarily a system of values, meanings, convictions, beliefs, principles, and drivers of good behavior and good outcomes in any organization. Using systems thinking concepts and applications introduced and developed during the last 50 years or so by various scholars from MIT, Stanford, and Wharton, such as Chris Argyris, Russell Ackoff, G. K. Forrester, Peter Senge, Stephen Covey, and Jim Collins, this chapter seeks to explore various past and contemporary market systems and challenges in terms of specific inputs, processes, and outputs. Systems thinking reckons everything in the cosmos (usually classified as subjects, objects, properties, and events) as a system (composed of two or more interactive parts with individual and interactive effects) that is connected to every other system in the universe. Various systems thinking laws and archetypes that have been developed thus far by systems thinkers will be introduced in order to identify basic patterns, structures, and constraints of human thinking and reasoning that create market phenomena. The academic and managerial challenge is to identify, explore, and capitalize such nonobvious connections for creating and developing new markets and corporate growth opportunities in the highly turbulent markets of today. In a globalized, digitized, and networked planet and universe, systems thinking is a very effective tool for analyzing turbulent market systems holistically and in an inclusive and integrated manner, with their specific inputs, processes, and outcomes. Several contemporary market cases will be included to illustrate the contents of this chapter.

Citation

Mascarenhas, S.J., F.O.A.J. (2018), "A Systems Thinking Approach to Understand the Challenge of Corporate Ethics in the Turbulent Markets of Today", Corporate Ethics for Turbulent Markets (Corporate Ethics for Turbulent Markets), Emerald Publishing Limited, Leeds, pp. 79-117. https://doi.org/10.1108/978-1-78756-187-820181004