Reconciling Morality and Rationality

Minnameier, Gerhard

doi:10.1007/978-3-658-19567-0_20

Cited by 5 publications

(5 citation statements)

References 17 publications

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“…Business operations should be ethical and should reduce conflicts; they should also be economically rational. There should be no economic sanctions among individuals, as bullying of one's peers is an unethical economic act [42]. Expression of business involvement sympathy can enhance one's selfmotivation, which benefits the community through the fair presentation of a wide range of products and services.…”

Section: Moral Principlesmentioning

confidence: 99%

Approach to Applying Sufficiency Economy Philosophy in Community Enterprise Management towards Sustainability

2023

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Sustainability is essential for every business and organization, but how can it be achieved? This work is a study of sustainability based on the sufficiency economy philosophy, a valuable concept introduced by the Thai people. We apply it to the notion of sustainability in 400 agricultural community enterprise owners in Thailand, who participated in this study. An oblique rotation component analysis was performed, finding that the variables on the same side are related, and a confirmative component analysis with structural equation models was conducted. The results showed that the approach to applying the sufficiency economy philosophy among community enterprises consists of 11 components, as follows: (1) financial control, (2) planning, (3) member management, (4) morals, (5) prevention plan, (6) moderation, (7) knowledge and expertise, (8) market development, (9) care, (10) quality control and (11) value of investment. The confirmative component analysis with structural equation modeling was consistent with the empirical data. Agricultural community enterprises and entrepreneurs focus on the moral component, conduct business with honesty to avoid causing problems for others, value justice without taking advantage with diligence and adhere to moral principles in life, because all of the above will lead to sustainability in the future.

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Section: Moral Principlesmentioning

confidence: 99%

Approach to Applying Sufficiency Economy Philosophy in Community Enterprise Management towards Sustainability

2023

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“…Additionally, Kant emphasized that moral decisions concern what we can control directly, namely our choices and intentional actions, rather than the consequences of our actions, which we cannot always control. Minnameier (2018) defined a moral act, as one motivated by a sense of principle, one that a person would like others to follow in their actions, and one that reasonable people would agree was right. On the other hand, moral absolutism is predicated on one of three possible sources of authority: natural law, contractual agreements, or divine commands.…”

Section: Concept Of Deontologymentioning

confidence: 99%

Examination of Aspects of Deontological and Teleological Theories that Promote Professional Practice

Adu¹,

Mensah²

2023

IJARAFMS

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Expectations regarding appropriate business and professional practices have changed dramatically over the years. Corporations and organizations now face an era of heightened accountability beyond shareholders to stakeholders interested in how they achieve their objectives. The challenge in recent times is the adoption of appropriate ethical principles that not only lead to the ethical realisation of profits but also respect the interests of others. The examination of the aspects of deontological and teleological theories that promote professional practice is critical in contemporary times. This article therefore proposes a literature review of the aspects of deontological and teleological theories that promote professional practice.

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“…The conception of altruism is not available in the conventional economics. In conventional economics, humans as economic beings are assumed to be rational in selfishness with maximum efforts to achieve satisfaction and profit (Minnameier, 2018). Meanwhile, altruism is an attitude and impulse to care for and prioritize the interests of others, without neglecting one's interests, even in extreme conditions of self-sacrifice (Bauer and Capron, 2020).…”

Section: Altruismmentioning

confidence: 99%

“…Therefore, there is a need for a better understanding of whether or how economic morality and irrational behavior among SMEs are related under this Covid-19 pandemic situation. The conventional economic point of view is no longer sufficient to understand this issue instead of using behavioral economics theory (Minnameier, 2018;Bauer and Capron, 2020). This study is directed at developing a model of the functional relationship of irrationality to economic morality for SMEs.…”

Section: Introductionmentioning

confidence: 99%

Irrationality and economic morality of SMEs’ behavior during the Covid-19 pandemic: lesson from Indonesia

Wahyono¹,

Narmaditya²,

Wibowo³

et al. 2021

Heliyon

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The Covid-19 pandemic provides severe consequences of economic behavior as an increase of unemployment rates, and providing a new business creation can continue the economic activities. This study explores a functional relationship between irrational behavior, which proxied by loss aversion, the endowment effect, and herd behavior toward the morality of economic among small and medium enterprises (SMEs), as well as the mediating role of altruism in the perspectives of behavioral economics. The research involved a quantitative survey and cross-sectional data with a sample of 288 SMEs in East Java of Indonesia. Using structural equation modeling, the findings reveal that the endowment effect and herd behavior have a robust relationship with economic morality. This study also notes that altruism has a positive link with economic morality, and it has successfully mediated the irrational behavior of SMEs in Indonesia. In addition, the marketing strategy also distinguishes altruism's impact on morality economic.

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Reconciling Morality and Rationality

Cited by 5 publications

References 17 publications

Approach to Applying Sufficiency Economy Philosophy in Community Enterprise Management towards Sustainability

Approach to Applying Sufficiency Economy Philosophy in Community Enterprise Management towards Sustainability

Examination of Aspects of Deontological and Teleological Theories that Promote Professional Practice

Irrationality and economic morality of SMEs’ behavior during the Covid-19 pandemic: lesson from Indonesia

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