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INTEGRATING MANAGERIAL WISDOM, THE COMMON GOOD APPROACH AND ORGANIZATIONAL JUSTICE IN LONG-TERM-PERFORMANCE ANALYSIS
Ortiz-Avram, Daniela Bauer
,
Florian
Ortiz-Avram, Daniela
Bauer
,
Florian
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Abstract
It is well documented that business failures very often involve not only poor business models or misjudgments of the markets, but also substantial and well-documented ethical failures. In this paper, we propose that if a manager or an owner-manager of an SME generally seeks to perform business actions by applying practical wisdom, a character trait which morally enhances the practice of decision-making, he will lead his company according to a determined ethical or moral orientation which we call the common good approach of management. It is particularly of interest to understand how practical wisdom and the orientation towards the common good will also have a positive effect on the perceived organizational justice and on long-term corporate performance.
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Conference proceedings
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2012
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With permission of the license/copyright holder