Leadership, Ethics, Prudence and Justice: Prudence Alone Is not Enough for Decision-Makers

Josep Mª Rosanas () and Natalia Cugueró-Escofet ()
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Josep Mª Rosanas: IESE Business School, Postal: Av Pearson 21, 08034 Barcelona, SPAIN, http://www.iese.edu/es/index-default.html
Natalia Cugueró-Escofet: IESE Business School, Postal: Av Pearson 21, 08034 Barcelona, SPAIN, http://www.iese.edu/es/index-default.html

No D/1144, IESE Research Papers from IESE Business School

Abstract: It is not unusual for management researchers to take the stand that value judgements and, thus, virtues, are an unrealistic approach to management, because what is considered to be realistic is achieving specific results, which may be easier to obtain in the short-run if managers follow some rules not based on morality but on ¿facts¿ (i.e., empirical relationships between quantitative results and the actions taken). We argue that, on the contrary, virtues are crucial for competent decision-making, mainly if we take a dynamic, long-run view of the organization. We then analyze virtues, knowledge, and the relationship between them, to show the interrelationships between prudence, practical wisdom and justice. We argue that the unity of virtues, while it is a desirable end, may have to be acquired through practice, and that, for that purpose, justice has to be the main priority. Justice will then help to develop prudence and, with the other virtues incorporated as well, provide a better future for the organization in all its aspects.

Keywords: Ethics; Virtues; Prudence; Practical Wisdom; Justice (search for similar items in EconPapers)
JEL-codes: I31 M14 M15 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2016-09-02
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