Prelims

Half Title Page

CORPORATE ETHICS FOR TURBULENT MARKETS

Title Page

CORPORATE ETHICS FOR TURBULENT MARKETS: EXECUTIVE RESPONSE TO MARKET CHALLENGES

BY

Fr. OSWALD A. J. MASCARENHAS, S. J.

XLRI: Xavier School of Management, India

United Kingdom – North America – Japan – India – Malaysia – China

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Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2019

Copyright © 2019 Oswald A. J. Mascarenhas

Except where otherwise noted, this work is licensed under a Creative Commons Attribution 4.0 Licence (CC BY 4.0).

Anyone may reproduce, distribute, translate and create derivative works of this book (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at https://creativecommons.org/licenses/by/4.0/

British Library Cataloguing in Publication Data

A catalogue record for this book is available from the British Library

ISBN: 978-1-78756-192-2 (Print)

ISBN: 978-1-78756-191-5 (Online)

ISBN: 978-1-78756-193-9 (Epub)

An electronic version of this book is freely available, thanks to the support of libraries working with Knowledge Unlatched. KU is a collaborative initiative designed to make high quality books Open Access for the public good. More information about the initiative and links to the Open Access version can be found at www.knowledgeunlatched.org

Dedication

This book is dedicated to my younger sister Rita who departed to the Kingdom of God on September 4, 2017, but who still continues to be the ethical, moral, and spiritual empowerment of my life.

List of Cases

About the Author

Fr. Oswald A. J. Mascarenhas, S. J. a Jesuit Priest, obtained LPh in Philosophy (1962) and LTh in Theology (1967), MA in Philosophy (University of Darwad, India) (1967), MA in Mathematical Economics (University of Detroit, 1971), MBA & PhD (Wharton School of Business, 1974, 1976). He served as Professor of Marketing and Director of Public Systems Research at XLRI (1977–1983), as Charles H. Kellstadt Professor of Marketing and Ethics at the University of Detroit Mercy, Detroit, Michigan (1983–2010), Chairman: MBA Programs, St. Aloysius College (Autonomous), Mangalore (2010–2013), and since December 2013, he holds the prestigious JRD Tata Chair Professorship in Business Ethics at XLRI, Jamshedpur. He has published seven professional books and over 75 articles in domestic and international journals. Fr. Mascarenhas was honored with the Best Teacher Award (1992) and Distinguished Faculty Scholar Award (2008) at the University of Detroit Mercy, Michigan, USA. He also conducts Management Development Programs (MDPs) at XLRI in fields related to corporate ethics, as also in-company programs in Corporate Ethical Leadership and Moral Responsibility, LEMS (Legality, Ethicality, Morality, and Spirituality) and applications of LEMS to corporate decisions and strategies, and this in relation to Bank of Baroda, Mahanadi Coalfields, Indian Oil, NHPC, Sipradi Trading Pvt. Ltd., Kathmandu, Tata Steel, Tata Power SED, to name a few. He also teaches PhD courses in Research Methodology at XLRI and currently directs PhD research of three Doctoral Students of XLRI.

Acknowledgments

During my over 60 years of learning, teaching, and research experience, several professors have molded me. I am especially indebted to Russell Ackoff, Paul Green, Len Laddish, and Howard Perl Mutter of the Wharton School of Business, Philadelphia, Pennsylvania, where I obtained MBA and PhD (1971–1975), Professors Michael Bernacchi and Ram Kesavan, my colleagues in the marketing department of the College of Business Administration, University of Detroit Mercy, Detroit, Michigan; during the 27 years (1983–2010), I taught there and had over a dozen refereed journal publications with me and who have always supported and stimulated my intellectual efforts and research ventures. I regularly use our joint publications in my books, and I am grateful for their friendship and demanding scholarship.

This book represents my latest research and thinking in the critical domain of corporate ethics and morals for governance and business transformation management. This work has taken several years from conception to execution. The plan and contents of this book have been presented and discussed while conducting several graduate courses in Corporate Ethics or Managerial Ethics at various Schools of Business Administration such as XLRI, India (1977–1983), University of Detroit Mercy, Detroit, Michigan, (1983–2010), St. Aloysius (Autonomous) College, Beeri Campus, Mangalore (2010–2013), and XLRI: Xavier School of Management, Jamshedpur (2013–). I am grateful for the incisive comments of these students and colleagues.

Particularly, during the last four to five years, I have had the privilege of teaching “Managerial Ethics” at the premium school of Management, XLRI, Jamshedpur, Jharkhand, India, to more than 500 postgraduate business management students each year, covering all programs such as Human Resources Management (HRM), Business Management (BM), General Management Program (GMP), and the Part-time three-year BM Executive (BME) Weekend Program. Their encouragement and critical feedback on chapters, take-home group assignments, and cases have helped me rethink and redesign this book to higher levels of readability and learning, for which I am beholden to them.

Fr E. Abraham SJ, PhD, Director of XLRI, Xavier School of Management, Jamshedpur, India, has been my major support and inspiration in undertaking this writing. Sr Doris D’Souza, AC, PhD who teaches Business Ethics with me at XLRI in the JRD Tata Center of Business Ethics has painstakingly gone through every chapter with meticulous proofreading coupled with unforgiving exactitude, and I am very grateful to her. Miss Roshan Dastur who has been part of XLRI for over 45 years has also helped me in adding her scholarly meticulous touch to the text and presentation. Benjamin Bara, FPM (XLRI), my recent doctoral student, and Neha Upadhyay and Jay Rupani, my Research Associates, have generously given endless hours of quality time for text-formatting, reference-checking, indexing, and illustrating the text. Professor Payal Kumar (FPM, XLRI), previously Senior Chief Editor of Sage India, Delhi, and a dear friend, has been guiding me in designing and audience-positioning this book for Emerald. I am inspired by her positive mentoring. The Emerald editorial staff and production crew in Bingley, UK, have consistently provided professional advice and expert service that have made this book a reality – I am deeply beholden to them.

This book is dedicated to my younger sister Rita who departed to the Kingdom of God on September 4, 2017, but who still continues to be the ethical, moral and spiritual empowerment of my life.