Ethical Imperatives of CEOS: Creating the Virtuous Corporation

Journal of Business Systems, Governance and Ethics. December, 4(3), 31-41, 2008

24 Pages Posted: 11 Oct 2013

See all articles by Hershey H. Friedman

Hershey H. Friedman

City University of New York - Department of Business Management

Linda Weiser Friedman

Baruch College, CUNY - Zicklin School of Business; CUNY - The Graduate Center

Frimette Kass

Brooklyn College; Journal of the CPA Practitioner

Date Written: December 1, 2008

Abstract

Companies that are going to thrive must have a soul. Those that are only concerned with “maximizing shareholder wealth” or “maximizing profit” will find themselves going the way Enron went. CEOs will have to lead the revolution and should be the ones exhorting executives to make spiritual values or virtue, not just profit, the core values of a firm. A true measure of corporate performance is multidimensional and has to include the short-term, the long-term, risk, environmental issues, society, employees, customers, suppliers, and government. This paper shows how a firm can acquire a soul and even be profitable doing it.

Keywords: maximizing profit, maximizing shareholder wealth, corporate social responsibility, ethics, virtuous corporation

JEL Classification: A22, A23, D81, G18, G21, I20, L20, L21, M14, M19, M31, Q20, Q38

Suggested Citation

Friedman, Hershey H. and Friedman, Linda Weiser and Kass, Frimette, Ethical Imperatives of CEOS: Creating the Virtuous Corporation (December 1, 2008). Journal of Business Systems, Governance and Ethics. December, 4(3), 31-41, 2008. Available at SSRN: https://ssrn.com/abstract=2338240

Hershey H. Friedman (Contact Author)

City University of New York - Department of Business Management ( email )

Linda Weiser Friedman

Baruch College, CUNY - Zicklin School of Business ( email )

17 Lexington Avenue
New York, NY 10010
United States

HOME PAGE: http://cisnet.baruch.cuny.edu/friedman/

CUNY - The Graduate Center

365 Fifth Avenue
New York,, NY 10016
United States

Frimette Kass

Brooklyn College ( email )

2900 Bedford Avenue
Brooklyn, NY 11210
United States

Journal of the CPA Practitioner ( email )

22 Jericho Turnpike, Suite 110
Mineola, NY 11501
United States

HOME PAGE: http://www.nccpap.org

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