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Book part
Publication date: 30 April 2019

S. J. Oswald A. J. Mascarenhas

Ethics is fundamentally a science of social and collective responsibility. Ethics concerns human behavior as responsible or accountable. Because of the nature of social…

Abstract

Executive Summary

Ethics is fundamentally a science of social and collective responsibility. Ethics concerns human behavior as responsible or accountable. Because of the nature of social interaction, certain members of the society will bear greater authority, and hence, greater individual and social responsibility than others. In our world, personal responsibility and social responsibility are hardly separable. Personal responsibility becomes responsibility for the world because the person and the world are inseparable. In this chapter, we use the term responsibility from a legal, ethical, moral, and spiritual (LEMS) standpoint as some promise, commitment, obligation, sanctioned by self, morals, law, or society, to do good, and if harm results, to repair harm done on another. Hence, responsibility from a moral perspective is trustworthiness and dependability of the agent in some enterprise. Its inverse is exoneration – the extent to which one is excused from commitment and repairing the harm done to others by one’s actions. We apply the theories and constructs of executive responsibility to two contemporary cases: (1) India’s Super Rich in 2014 and (2) the Fall and Rise of Starbucks. After exploring the basic notion of responsibility, we present a discussion on the nature and obligation of corporate responsibility into three parts: Part I: Classical Understanding and Discussion on Corporate Responsibility; Part II: Contemporary Understanding and Discussion on Corporate Responsibility, and Part III: A synthesis of classical and contemporary views of responsibility and their applications to corporate executive responsibility.

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Corporate Ethics for Turbulent Markets
Type: Book
ISBN: 978-1-78756-192-2

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Article
Publication date: 6 June 2019

Joanne Roberts

Through a critical review of the impact of luxury international business, this study aims to contribute to an understanding of business activities that depend on an…

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Abstract

Purpose

Through a critical review of the impact of luxury international business, this study aims to contribute to an understanding of business activities that depend on an unequal distribution of income and wealth.

Design/methodology/approach

Drawing on a wide range of academic and practitioner literature, this study adopts a critical luxury studies approach to provide an assessment of the economic and social impact of luxury international business.

Findings

Luxury is an increasingly important sector of the economy, which contributes to the welfare of increasing numbers of people across the world. Alongside its dependence on an unequal distribution of income and wealth and the negative aspects to which this gives rise, luxury business generates significant benefits to the economy and society through promoting economic growth, innovation, cultural enrichment, improved quality of the built environment and environmentally sustainable business practices. Nevertheless, an appropriate level of regulation and taxation on the excesses of contemporary luxury consumption could improve the welfare of all. Hence, luxury international business warrants investigation by critical scholars who recognize the complexity of the benefits and dark sides arising from luxury.

Research limitations/implications

This study draws on an extensive review of academic and practitioner literature. However, primary research is required to investigate further the key issues identified.

Social implications

Through an exploration of the impact of the production and consumption of luxury, this study reveals how luxury businesses serving the super-rich can contribute to the welfare of society whilst also giving rise to negative outcomes.

Originality/value

By adopting a critical luxury studies approach, this study offers an original contribution to the field of international business and introduces avenues for future critical international business research.

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critical perspectives on international business, vol. 15 no. 2/3
Type: Research Article
ISSN: 1742-2043

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Executive summary
Publication date: 18 August 2021

CHINA: Super-rich may face greater political pressure

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DOI: 10.1108/OXAN-ES263559

ISSN: 2633-304X

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Executive summary
Publication date: 21 July 2021

INTERNATIONAL: Space tourism will face backlash

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DOI: 10.1108/OXAN-ES262946

ISSN: 2633-304X

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Article
Publication date: 1 January 2013

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

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1993

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

During a time of economic uncertainty does the demand for luxury or high quality goods dry up? Do the well off, the rich, and even the super rich begin to tighten their belts along with everyone else? Do luxury retailers need to trade down in order to keep their products affordable?

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

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Strategic Direction, vol. 29 no. 1
Type: Research Article
ISSN: 0258-0543

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Expert briefing
Publication date: 27 September 2021

The meeting ended with a call for high incomes to be regulated and for the rich to 'give back' more. It followed a series of dramatic regulatory actions against large…

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DOI: 10.1108/OXAN-DB264357

ISSN: 2633-304X

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Geographic
Topical
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Article
Publication date: 1 December 2003

In the last 30 years fashion has changed from an elite accessory of the super‐rich to a mass‐market product. Since the mid‐nineties the department stores that…

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10904

Abstract

In the last 30 years fashion has changed from an elite accessory of the super‐rich to a mass‐market product. Since the mid‐nineties the department stores that traditionally dominated this broader market have started to lose ground to specialist clothing chains offering the latest designs at competitive prices.

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Strategic Direction, vol. 19 no. 11
Type: Research Article
ISSN: 0258-0543

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Book part
Publication date: 5 December 2018

Thomas Raymen

This chapter offers a theoretical appraisal of our contemporary hyper-regulated urban spaces situated against a backdrop of deindustrialisation, the shift to consumer…

Abstract

This chapter offers a theoretical appraisal of our contemporary hyper-regulated urban spaces situated against a backdrop of deindustrialisation, the shift to consumer economies and the rise of the creative city paradigm. While existing work has characterised urban space as dead and asocial spaces bereft of life. This chapter opts to think our city centres as ‘Zombie Cities’: cities which have been eviscerated the social but are forced to wear the exterior signs of life through the injection of economically productive but artificial modes of culture and creativity. This sets the stage for explaining why parkour is inconsistently included and excluded from urban space, and how it attains spatio-economically contingent legitimacy and inclusion into urban space that problematises existing theoretical perspectives around a revanchist urbanism.

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Parkour, Deviance and Leisure in the Late-Capitalist City: An Ethnography
Type: Book
ISBN: 978-1-78743-812-5

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Book part
Publication date: 17 June 2009

Simon Stander

There have been times in recent years when it has seemed that the US economy, in particular, has defied economic gravity. This was certainly the case in the late nineties…

Abstract

There have been times in recent years when it has seemed that the US economy, in particular, has defied economic gravity. This was certainly the case in the late nineties of the twentieth century. Many heaved a sigh of relief when the Nasdaq and the Dow responded to the pull of economic gravity and fell to earth in the early part of the twenty first century. The Earth at the time, in 2002, appeared to be indices of around 8,000 for the Dow and 1,250 for the Nasdaq. These measures still indicated huge wealth in terms of saleable bits of paper as well, indicating the underlying huge capacity of the real economy for creating surpluses. Both indices climbed back, though the Nasdaq was a long way from its astronomic former heights before the next (2007) crisis hit. True to the cyclical record of modern capitalism, however, by 2006 the US and the world stock markets were booming again. The nominal value of shares traded worldwide in 2006 by some estimates was nearly $70 trillion (Bogle, 2005). In 2007, another crisis appeared, ushered in supposedly by the collapse of the sub-prime mortgage market in the United States; subsequent events took their toll in economic and financial terms not only in the United States but worldwide in most of the major economies. The terms “credit crunch” and “sub-prime” had become so pervasive within a few weeks of the onset of the latest economic crisis that by July 2008, the Concise Oxford Dictionary provided definitions for them. While these terms are now embedded in the language of economics and everyday speech, inevitably the affected economies will recover from the crises and continue to grow. While there is no shortage of reasons posited for the latest crisis and those preceding it, far fewer explanations have been forwarded to tell us why economies survive economic shocks and, despite dire predictions and expressions of gloom, recent crises have not been as disastrous as was once the case, notably as in the Depression years of the 1930s. During the Depression of the Thirties, production fell by a third between 1929 and 1933, unemployment reached 13 million and even by 1938 one person in five were unemployed. No economist has predicted these dire consequences even for the crisis of 2007–2009. In 1999, Paul Krugman published his short book: The Return of Depression Economics in which he not only reminded us of the 1930s Depression but suggested that the then economic crises bore an “eerie resemblance to the Great Depression.”1 He retreats within a few pages and describes the events as the Great Recession because the global damage has been “well short of Depression levels” (Krugman, 1999). A decade later, Krugman, by then a Nobel laureate for economics in 2008, began his 2009 revised edition of Return of Depression Economics thus: “The world economy is not in depression: it probably won't fall into depression (though I wish I could be completely sure about that)” (Krugman, 2009). By early January 2009, he surprised other economic commentators by using the term “depression” in his New York Times column.

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Why Capitalism Survives Crises: The Shock Absorbers
Type: Book
ISBN: 978-1-84855-587-7

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Article
Publication date: 5 April 2021

Frederick Ahen

The purpose of this paper is to investigate how “manias” in global health governance lead to health inequalities even before, during and in the aftermath of acute health…

Abstract

Purpose

The purpose of this paper is to investigate how “manias” in global health governance lead to health inequalities even before, during and in the aftermath of acute health crises such as the COVID-19 pandemic. “Manias” as used here refer to obsessive ir/rational behaviors, misguided policy/strategic choices and the exercise of power that benefit the major global health actors at the expense of stakeholders.

Design/methodology/approach

From post-colonial and historical perspectives, this study delineates how the major global health actors influence outcomes in global health governance and international business when they interact at the national–global level using an illustration from an emerging economy.

Findings

Power asymmetry in global health governance is constructed around the centralization of economic influence, medico-techno-scientific innovation and the geopolitical hegemony of a conglomerate of super-rich/powerful actors. They cluster these powers and resources in the core region (industrialized economies) and use them to influence the periphery (developing economies) through international NGOs, hybrid organizations, MNCs and multilateral/bilateral agreements. The power of actors to maintain manias lies in not only how they influence the periphery but also the consequences of the periphery’s “passivity” and “voluntary” renunciation of sovereignty in medical innovations and global health policies/politics.

Social implications

As a quintessential feature of manias, power asymmetry makes it harder for weaker actors to actually change the institutional conditions that produce structural inequalities in global health.

Originality/value

This timely and multidisciplinary study calls for a novel architecture of global health governance. Thus, democratizing global health governance with sufficiently foresighted investments that prioritize equitable access by and the inclusiveness of vulnerable stakeholders will help dismantle institutionalized manias while decreasing health inequalities.

Details

critical perspectives on international business, vol. 17 no. 2
Type: Research Article
ISSN: 1742-2043

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