Integrity: Without it Nothing Works
Michael C. Jensen
Harvard Business School; Social Science Electronic Publishing (SSEP), Inc.; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)
January 14, 2009
Rotman Magazine: The Magazine of the Rotman School of Management, pp. 16-20, Fall 2009
Harvard Business School NOM Unit Working Paper No. 10-042
Barbados Group Working Paper No. 09-04
Simon School Working Paper No. FR 10-01
The Spanish version of this paper is available at: http://ssrn.com/abstract=2134182
Note: This paper is an interview of Michael Jensen by Karen Christensen on the topic of integrity.
There is confusion between integrity, morality and ethics. In our much longer (and as yet incomplete) paper on the topic (see “Integrity: A Positive Model that Incorporates the Normative Phenomena of Morality, Ethics and Legality” (available at http://ssrn.com/abstract=920625)) my co-authors, Werner Erhard and Steve Zaffron and I, distinguish integrity, from morality and ethics in the following way. Integrity in our model is honoring your word. As such integrity is a purely positive phenomenon. It has nothing to do with good vs. bad, right vs. wrong behavior. Like the law of gravity the law of integrity just is, and if you violate the law of integrity as we define it you get hurt just as if you try to violate the law of gravity with no safety device. The personal and organizational benefits of honoring one's word are huge -- both for individuals and for organizations -- and generally unappreciated.
A shorter abridged version of the full “Integrity: A Positive Model that Incorporates the Normative Phenomena of Morality, Ethics and Legality -- Abridged” is available at http://ssrn.com/abstract=1542759)
For a full one-day workshop on integrity see: “A New Model of Integrity: The Missing Factor Of Production (PDF file of Keynote and PowerPoint Slides)” available at http://ssrn.com/abstract=1559827)
Number of Pages in PDF File: 6
Keywords: Values, Integrity, Morality, Ethics
JEL Classification: G34Accepted Paper Series
Date posted: November 22, 2009 ; Last revised: May 18, 2013
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