Articulos
The origin of Vision 2020+ Vision 2020+ is a story of restlessness: the restlessness to discover the future possibilities of BBVA and those of the financial industry itself, based on the information we have today.2 In our analysis, we have selected a series of indicators that go beyond our operational scope as a bank — […]
The global economy is immersed in the worst crisis since 1929. Among its causes are ethical lacunae. Factors such as failings in corporate governance, speculative tendencies, the deficient training of managers in ethics and a reductionist view of the economy have had severe consequences.
There is now a thirst for ethics. It is essential to recover the relationship between ethics and the economy. Alignments are proposed for an ethical agenda for the economy that confronts the ethical scandals of large-scale poverty and the marked inequalities in a world where technological revolutions have multiplied productive capacity. The agenda includes a new view of development, social responsibility in public policies, corporate social responsibility, the strengthening of volunteerism and the work of social entrepreneurs. The case of Latin America is also analyzed. This is a region of enormous potential but also of demanding open ethical challenges. […]
This paper suggests linkages between recent work in stakeholder management and the idea of reputation. After a brief historical section, the paper suggests that we need a new narrative about how business actually works. Both stakeholders and reputation are central to this new narrative that is beginning to emerge post-financial crisis.
By focusing on how the interests of customers, suppliers, employees, communities, and financiers are joint, executives can begin to see their role as how to create as much value for stakeholders as possible.
Stakeholders and reputation become part of the underlying business model, rather than part of add-on ideas like corporate social responsibility and corporate communications.The paper ends with some challenges to executives and business thinkers as this new model of business is realized. […]
In the techno-lifeworld, responsibility has become a pervasive theme, and new obligatory form of good. This is differentially manifested in the law through strict liability for technological products; in Christian theologies that emphasize responding to God in a secular age; in engineering, professional responsibility for public safety, health, and welfare; in the social responsibility of scientists to consider the implications of research; and through increased philosophical attention to responsibility as a concept in ethics. The experience of living with the expanded powers of the techno-lifeworld calls for enlarged measures of responsibility, thus inserting into human experience special and unique burdens that can be formulated as a duty plus respicere, to exercise more conscious reflection in human action than has ever previously been the case. […]
We are seeing an evolution in our concept of secularism. In former times, secularist regimes were about controlling religion; now they are more and more concerned with managing diversity in a fair and democratic manner. This change reflects the transformation of our populations in Western democracies. International migration has resulted in a much greater religious and cultural diversity. Where formerly, say, there were Catholics, Protestants and Jews, now we find also Hindus, Buddhists, Muslims and many others. Naturally the new secularism, mainly concerned with diversity, becomes involved in issues of multiculturalism. […]
The recent financial crisis has been different from those in the past, with regard to the prominent role played by risk management. In view of this novel factor, it is pertinent to identify the ethical issues presented by risk management and examine how these issues should be addressed. Specifically, this article considers the social impact of risk management, the implications for the accountability, responsibility and regulation of financial institutions, as well as problems in the practical application of risk management techniques. With the benefit of hindsight after the recent financial crisis, it is now possible to begin the critical task of recognizing the challenges of using risk management responsibly. […]
The global economic and financial crisis concerns common ethical standards. Laws need morality and global laws require a shared ethic. Claims made by the UN Compact and the OECD guidelines require cross-cultural ethical values. But this does not presuppose a specific ethical system but rather just a few common values and standards. The Manifesto for a Global Economic Ethic is based on four such values, shared by the major world religions: these are commitments to non-violence and reverence for life; to fairness and a just economic order; to truthfulness and tolerance; and to partnership and equal rights for men and women. […]
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx’s attack on capitalism. But the modern concept of business ethics dates back to the rise of anti-big business protest groups in the United States in the 1970s. The subject gradually became an academic field in its own right, with both philosophical and empirical branches. Then, thanks to government legislation, ethics have been incorporated into businesses, reflected today in corporate social responsibility strategies and codes of conduct. Business ethics is now not only a firmly established academic field, it is something companies realize they need to manage and internalize. […]
This article discusses the ethical issues raised by immigration to affluent democratic states in Europe and North America. The chapter identifies questions about the following topics: access to citizenship; inclusion; residents; temporary workers; irregular migrants; non-discrimination in admissions; family reunification; refugees; open borders. It explores the answers to these questions that flow from a commitment to democratic principles. […]
Once hailed as a highly effective way to combat poverty, microfinance has since become tainted by cases of fierce commercialization, high profit margins and even increased suicide rates among borrowers. So does microfinance work at all? This chapter makes the case for a commercial approach to microfinance, arguing that institutions need to be able to cover all their costs to be financially viable and to make a meaningful impact. But being commercial does not mean being profit-driven. With careful planning, it is possible to create microfinance institutions that are both ethical and self-sustaining. While it may not be a miracle cure for poverty, microfinance can still play a role in generating wealth in poorer nations. […]