Prudence as an ethical foundation for risk management

Marshall, Alasdair, Ojiako, Udechukwu, Abdoush, Tony, Vasilakos, Nicholas ORCID: https://orcid.org/0000-0003-3279-2885 and Chipulu, Maxwell (2023) Prudence as an ethical foundation for risk management. Society and Business Review. ISSN 1746-5680

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Abstract

Purpose: This paper aims to draw on historical conceptions of true and false prudence within the broader context of virtue ethics ideas, to create a prudence framework for developing risk-and-ethics cultures in organisations. Design/methodology/approach: The authors use a theoretical analytical approach as a means of examining plausible representations of risk as ethical practice. Findings: While the ethical ideal of true prudence is explained primarily with reference to psychological theories of generativity, false prudence is explained as undesirable, primarily with reference to psychological problems of narcissism and the broader dark triad. True and false prudence are represented as centring upon very different motivations for foresight, each of which might set the cultural tone for organisational risk management. Originality/value: This paper’s main contribution is therefore to call attention to the benefits for organisations of reflecting upon differences between true and false prudence when planning the risk management they want.

Item Type: Article
Uncontrolled Keywords: ethics,prudence,risk management,business and international management,business, management and accounting (miscellaneous),strategy and management,organizational behavior and human resource management ,/dk/atira/pure/subjectarea/asjc/1400/1403
Faculty \ School: Faculty of Social Sciences > Norwich Business School
UEA Research Groups: Faculty of Social Sciences > Research Centres > Centre for Competition Policy
University of East Anglia Schools > Faculty of Science > Tyndall Centre for Climate Change Research
Faculty of Science > Research Centres > Tyndall Centre for Climate Change Research
Faculty of Social Sciences > Research Groups > Responsible Business Regulation Group
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Depositing User: LivePure Connector
Date Deposited: 15 Dec 2022 04:13
Last Modified: 22 Apr 2023 02:28
URI: https://ueaeprints.uea.ac.uk/id/eprint/90176
DOI: 10.1108/SBR-09-2022-0244

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