Honour as the (New) Foundational Virtue for Responsible Leadership in the Banking Sector: A Theoretico-Conceptual Analysis
- 575 Downloads
This article deals with the question whether the widely accepted integrity can still be seen as the foundational virtue for responsible leadership within the banking sector. This question emerged in the face of the recent public and political outrage concerning an increase in the salaries of the members of the executive board of the ABN AMRO bank in the Netherlands, while apparently there was no breach of integrity. A theoretical/conceptual analysis of the core concepts in this article: responsible leadership (the key factor in sound and virtuous banking), integrity (the current foundational virtue banks act upon) and honour (a virtue related to integrity, but which encompasses it) has been made in order to find an explanation for the public outrage. It is concluded that the virtue of honour – as a foundational virtue – offers a more solid base than integrity in the banking sector, because honour is fundamentally closer related to the public’s ideals, concerns and values, and ascribed virtues to responsible leadership than integrity. It is therefore argued that honour should replace integrity as foundational virtue for responsible leadership in the banking sector.
KeywordsResponsible leadership Integrity Honour Banking sector
- ABN AMRO Group N.V. 2014. Sustainability report. Amsterdam.Google Scholar
- Appiah, K.A. 2010. The honor code. How moral revolutions happen. New York/London: W.W. Norton & Company.Google Scholar
- Baggini, J., and P.S. Fosl. 2007. The ethics toolkit. A compendium of ethical concepts and methods. Malden/Oxford: Blackwell Publishing.Google Scholar
- Collins, D. 2012. Business ethics. How to design and manage ethical organizations. Hoboken: Wiley.Google Scholar
- Cox, D., M. La Caze, and M. Levine. 2014. Integrity. In Handbook of virtue ethics, ed. S. Van Hooft, 200–209. Durham: Acumen.Google Scholar
- Crisp, R. 2006. Aristotle on greatness of soul. In The blackwell guide to Aristotle’s Nicomachean ethics, ed. R. Kraut, 158–178. Malden/Oxford: Blackwell Publishing.Google Scholar
- Demetriou, D. 2013. The virtues of honorable business executives. In Virtues in action. New essays in applied virtue ethics, ed. M.W. Austin, 23–38. New York/London: Palgrave MacMillan.Google Scholar
- DesJardins, J. 2014. An introduction to business ethics, 5th ed. New York: McGraw-Hill.Google Scholar
- Devettere, R.J. 2002. Introduction to virtue ethics. Insights of the ancient greeks. Washington: Georgetown University Press.Google Scholar
- Dictionary and Thesaurus (online): http://dictionary.reference.com/.
- Ferrell, O.C., J. Fraedrich, and L. Ferrell. 2015. Business ethics. Ethical decision making and cases, 10th ed. Stamford: Cencage Learning.Google Scholar
- Hartman, L.P., J. DesJardins, and C. MacDonald. 2014. Business ethics. Decision making for personal integrity & social responsibility, 3rd ed. New York: McGraw-Hill.Google Scholar
- Jackson, B., and K. Parry. 2008. A very short, fairly interesting and reasonably cheap book about studying leadership. London: Sage.Google Scholar
- Karssing, E. 2009. Integriteit. In Bedrijfsethiek een goede zaak, ed. R.J.M. Jeurissen, 47–57. Assen: Van Gorcum.Google Scholar
- Luyendijk, J. 2015. Dit kan niet waar zijn: Onder bankiers. 7e druk. Amsterdam/Antwerpen: Uitgeverij Atlas/Contact.Google Scholar
- Maccoby, M. 2000. Narcissistic leaders: The incredible pros, the inevitable cons. Harvard Business Review 78(1): 68–77.Google Scholar
- MacIntyre, A.C. 2007. After virtue. A study in moral theory, 3rd ed. Notre Dame: University of Notre Dame Press.Google Scholar
- Merriam-Webster Online Dictionary: http://www.merriam-webster.com/.
- Michel, J. The 12 virtues of leadership. Retrieved from http://generalleadership.com/the-12-virtues-of-leadership/ on 14 Nov 2015.
- Näsi, J. 1980. Yrityksen suunnittelun perusteet. Käsitteellis-metodologiset rakenteet ja tieteenfilosofinen tausta. Yrityksen taloustieteen ja yksityisoikeuden laitoksen julkaisuja, Series A 1, Tutkimuksia 15, University of Tampere.Google Scholar
- Nederlandse Vereniging van Banken. 2010. Code Banken. Amsterdam.Google Scholar
- Oprisko, R.L. 2012. Honor: A phenomenology. London: Routledge.Google Scholar
- Oxford Online Dictionaries: http://www.oxforddictionaries.com/.
- Peterson, C., and M. Seligman. 2004. Character strengths and virtues: A handbook and classification. Oxford: Oxford University Press.Google Scholar
- Rachels, J. 1999. The elements of moral philosophy, 3rd ed. New York: McGraw-Hill.Google Scholar
- Ross, D. 2009. (Transl.) The Nichomachean ethics. Oxford: Oxford University Press.Google Scholar
- Russel, D. 2005. Aristotle on the moral relevance of self-respect. In Virtue ethics, old and new, ed. S.M. Gardiner, 101–124. New York: Cornell University Press.Google Scholar
- Skinner, C. 2015. The biggest banking challenge is leadership. Financial Services Club Blog, http://thefinanser.co.uk/fsclub/2015/01/the-biggest-banking-is-leadership.html.
- Solomon, R.C. 1999. A better way to think about business. How personal integrity leads to corporate success. Oxford: Oxford University Press.Google Scholar
- Stückelberger, C. 2014. Responsible leadership handbook: For staff and Boards. Geneva: Globethics.net.Google Scholar
- Stückelberger, C., and J.N.K. Mugambi (eds.). 2007. Responsible leadership. Global and contextual ethical perspectives. Geneva: Globethics.net.Google Scholar
- Van Es, R. 2001. Professionele Ethiek. Morele besluitvorming in organisaties en professies. Deventer: Kluwer.Google Scholar
- Vocabulary (online dictionary). http://www.vocabulary.com/.
- Walker, L., and K. Avant. 2011. Strategies for theory construction in nursing, 5th ed. New York: Prentice Hall.Google Scholar