Prelims

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CORPORATE ETHICS FOR TURBULENT MARKETS

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CORPORATE ETHICS FOR TURBULENT MARKETS: THE MARKET CONTEXT OF EXECUTIVE DECISIONS

BY

FR. OSWALD A. J. MASCARENHAS, S.J.

XLRI: Xavier Institute 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 2018

Copyright © 2018 Emerald Publishing Limited

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ISBN: 978-1-78756-188-5 (Print)

ISBN: 978-1-78756-187-8 (Online)

ISBN: 978-1-78756-189-2 (Epub)

Dedication

To

Agnes, my oldest sister, who left me in November 2016 for the Kingdom of God, but who still continues to be the ethical, moral, and spiritual empowerment in my life.

Acknowledgements

My academic background is philosophy, theology, economics, marketing, business turnaround and transformation management, e-business, and Internet marketing, with emphasis on ethical and moral market challenges and responses and with over 40 years of teaching and research experience. Several professors have molded me during my management studies. I am especially indebted to Russell Ackoff, Paul Green, Len Laddish, and Howard Perlmutter of the Wharton School of Business, Philadelphia, Pennsylvania, where I obtained MBA and PhD. 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, have always supported and stimulated my intellectual efforts and research ventures. I regularly use our over 15 joint publications in these two volumes, 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 Colleges of Business Administration such as University of Detroit Mercy, Detroit, Michigan, USA (2002–2010), T. A. Pai Management Institute (TAPMI) Manipal, South Kanara (2010–2011), St. Aloysius (Autonomous) College School of Business, Beeri, Mangalore (2010–2013), and XLRI: Xavier School of Management, Jamshedpur (2013– ). I am grateful for the incisive comments of these students and their professors.

Fr. E. Abraham S.J., PhD, Director of XLRI, Xavier Institute of Management, Jamshedpur, India, has been my constant support and inspiration in undertaking these two volumes. 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 critique. I am very grateful. Miss Roshan Dastur, who has been supporting staff of XLRI for over 40 years, has also helped me in adding the scholarly touch to the text and presentation. Benjamin Bara, my recent doctoral student, Neha Upadhyay, Research Associate, and Jay Rupani, Research Associate, have generously given endless hours of quality time for text-formatting, reference-checking, and illustrating the text of both volumes. I was recharged by their dedication and cooperation. The Emerald editorial staff, especially Pete Baker and Katy Mathers, offered high-quality professional assistance in rendering the text readable, auto neutral, and citing report sources and other quality touchpoints. I am very grateful and beholden to them. Last but not the least, Payal Kumar, previously Senior Chief Editor of Sage India, Delhi, and a past FPM doctoral student at XLRI, and a dear friend, has been guiding me in designing and market-positioning this book. I am inspired by her positive mentoring.

Lastly, the first volume is dedicated to my oldest sister Agnes and the second volume to my younger sister Rita, both of them left me in 2016 and 2017, respectively, for the Kingdom of God, but who still continue to be the ethical, moral, and spiritual empowerment in my life.

About the Author

Fr. Oswald A. J. Mascarenhas, S.J.

Fr. Oswald Mascarenhas, 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, and PhD. (Wharton School of Business, 1974 and 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 has held the prestigious JRD Tata Chair Professorship in Business Ethics at XLRI, Jamshedpur. He has published six 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 in several companies such as Bank of Baroda, Mahanadi Coalfield, Indian Oil, ONGC, NTPC, Tata Power SED, to name a few. He also teaches PhD-level courses in Research Methodology at XLRI.