IDEAS home Printed from https://ideas.repec.org/p/zbw/mlucee/200914.html
   My bibliography  Save this paper

Morality as a factor of production: Moral commitments as strategic risk management

Author

Listed:
  • Hielscher, Stefan

Abstract

Through an analysis of Alfred Krupp's 19th-century social welfare program, this paper employs an ordonomic perspective on how morality can be employed as a factor of production. The paper's main argument is that corporate social responsibility (CSR) can be conceptualized as a corporate strategy of moral commitments to manage the relationship- based risks that arise out of social dilemma situations between the company and its stakeholders. Focusing primarily on relationship-based social risks that emerge from antagonistic cooperation, this paper also develops an ordonomic contribution to corporate risk management.

Suggested Citation

  • Hielscher, Stefan, 2009. "Morality as a factor of production: Moral commitments as strategic risk management," Discussion Papers 2009-14, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    • Handle: RePEc:zbw:mlucee:200914
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/170324/1/dp2009-14.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hielscher, Stefan, 2009. "Moral als Produktionsfaktor: Ein unternehmerischer Beitrag zum strategischen Risikomanagement am Beispiel des Kruppschen Wohlfahrtsprogramms," Discussion Papers 2009-3, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    2. Ulrich,Peter, 2008. "Integrative Economic Ethics," Cambridge Books, Cambridge University Press, number 9780521877961.
    3. Hielscher Stefan & Beckmann Markus, 2009. "Social Entrepreneurship und Ordnungspolitik: Zur Rolle gesellschaftlicher Change Agents am Beispiel des Kruppschen Wohlfahrtsprogramms / Social Entrepreneurship and Ordnungspolitik," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 60(1), pages 435-462, January.
    4. Sinn, Hans-Werner, 1982. "Kinked utility and the demand for human wealth and liability insurance," European Economic Review, Elsevier, vol. 17(2), pages 149-162.
    5. Sinn Hans-Werner, 1986. "Risiko als Produktionsfaktor / Risk as a Factor of Production," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 201(6), pages 557-571, June.
    6. Sinn, Hans-Werner, 1986. "Risiko als Produktionsfaktor," Munich Reprints in Economics 19879, University of Munich, Department of Economics.
    7. Pies, Ingo & Hielscher, Stefan & Beckmann, Markus, 2009. "Moral Commitments and the Societal Role of Business: An Ordonomic Approach to Corporate Citizenship," Business Ethics Quarterly, Cambridge University Press, vol. 19(3), pages 375-401, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Will, Matthias Georg, 2012. "Erfolgreicher organisatorischer Wandel durch die Überwindung von Risiken: Eine interaktionstheoretische Perspektive," Discussion Papers 2012-19, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hielscher, Stefan & Vennemann, Till, 2013. "Harnessing CSR for the innovation capacity of the capitalistic firm: A conceptual approach for how to use CSR in and for innovation management," Discussion Papers 2013-10, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    2. Will, Matthias Georg, 2011. "Technologischer Fortschritt und Vertrauen: Gefahrenproduktivität und Bindungsmechanismen zur Überwindung von Konflikten," Discussion Papers 2011-19, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    3. Hans-Werner Sinn, 2002. "Risktaking, Limited Liability, and the Competition of Bank Regulators," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(3), pages 305-329, August.
    4. Wockenfuß, Christof, 2009. "Demokratie durch Entwicklungskonkurrenz," Discussion Papers 2009-17, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    5. Markus Beckmann & Stefan Hielscher & Ingo Pies, 2014. "Commitment Strategies for Sustainability: How Business Firms Can Transform Trade‐Offs Into Win–Win Outcomes," Business Strategy and the Environment, Wiley Blackwell, vol. 23(1), pages 18-37, January.
    6. Andreani, Ettore & Neuberger, Doris, 2004. "Relationship finance by banks and non-bank institutional investors: A review within the theory of the firm," Thuenen-Series of Applied Economic Theory 46, University of Rostock, Institute of Economics.
    7. Kulawik, Jacek & Płonka, Renata & Wieliczko, Barbara, 2020. "Changes in The Income Situation of Agricultural Holdings in The Light of The Polish FADN Observations from 2004-2018," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 311271, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    8. Ingo Pies & Markus Beckmann & Stefan Hielscher, 2010. "Value Creation, Management Competencies, and Global Corporate Citizenship: An Ordonomic Approach to Business Ethics in the Age of Globalization," Journal of Business Ethics, Springer, vol. 94(2), pages 265-278, June.
    9. Doris Neuberger, 2005. "What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm," Finance 0510003, University Library of Munich, Germany.
    10. Doris Neuberger, 2005. "What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm," Finance 0510001, University Library of Munich, Germany.
    11. Doris Neuberger, 2005. "What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm," Finance 0503001, University Library of Munich, Germany.
    12. Beckmann, Markus & Pies, Ingo & von Winning, Alexandra, 2012. "Passion and compassion as strategic drivers for sustainable value creation: An ordonomic perspective on social and ecological entrepreneurship," Discussion Papers 2012-22, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    13. Claus Dierksmeier, 2011. "The Freedom–Responsibility Nexus in Management Philosophy and Business Ethics," Journal of Business Ethics, Springer, vol. 101(2), pages 263-283, June.
    14. Ray Rees & Martin Nell & Helmut Gründl & Hato Schmeiser & Michael Wolgast, 2001. "Risikoübernahme - sollte der Staat bestimmte Versicherungsgarantien übernehmen?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(24), pages 5-14, October.
    15. Will, Matthias Georg & Hielscher, Stefan, 2013. "How do companies invest in corporate social responsibility? An ordonomic contribution for empirical CSR research," Discussion Papers 2013-3, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    16. Joachim Ragnitz & Marcel Thum, 2013. "Pflichtversicherung gegen Flutschäden?," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 20(05), pages 33-35, October.
    17. Lisa L. Posey & Vickie Bajtelsmit, 2017. "Insurance and Endogenous Bankruptcy Risk: When is it Rational to Choose Gambling, Insurance, and Potential Bankruptcy?," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(1), pages 15-40, March.
    18. Pies, Ingo & Hielscher, Stefan & Everding, Sebastian, 2020. "Do hybrids impede sustainability? How semantic reorientations and governance reforms can produce and preserve sustainability in sharing business models," Journal of Business Research, Elsevier, vol. 115(C), pages 174-185.
    19. Thomas Straubhaar, 2018. "Universal Basic Income – New Answer to New Questions for the German Welfare State in the 21st Century," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 19(03), pages 03-09, October.
    20. Scherer, Andreas, 2013. "Legitimacy Strategies in a Globalized World: Organizing for Complex and Heterogeneous Environments," Papers 566, World Trade Institute.

    More about this item

    Keywords

    corporate risk management; ordonomics; corporate social responsibility; corporate citizenship; morality as a factor of production; strategic commitments; Strategisches Risikomanagement; Ordonomik; Corporate Social Responsibility; Corporate Citizenship; Moral als Produktionsfaktor; strategische Bindungen;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:mlucee:200914. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/wwhalde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.