Business ethics, investment and socially responsible business : A new paradigm business perspective

Abstract

The fundamental research question that this thesis addresses is "What is the nature of new paradigm business?" (Ray, 1991, p. 45) In answering this question a holistic and explicit account of socially responsible business is provided in response to the challenge made by Lydenberg (1996), namely that all the pieces of the socially responsible company need to be put together in a cohesive whole. The major philosophical and financial objections to new paradigm business and ethical investment are also addressed. The "Four P's" model created in this study involves: "purpose", defined in terms of creating environmental, social, and financial wealth; "principles" of honesty, fairness, caring, and courage; "practices" for the community, environment, employee, customer, supplier, and shareholder, stakeholder groups; and "performance measurement" to account for a triple bottom line of environmental and social as well as financial performance. This model is then applied to describe business ethics in New Zealand from a new paradigm business perspective.