Spirituality: The Missing Link in Business Ethics

Abstract

During the 1980’s the theory of business ethics was felt to be a revolutionary paradigm shift enabling business to break with the narrowly-focused shareholder theory obsessed with maximising profits. However, since the late nineties business ethics becoming salonfahig and part of rational management, lost its critical potential. As a consequence business ethics was not very alert to anticipate, to predict or to prevent the recent crises in the IT and the banking sector. This failure can be explained by a lack of self-criticism and self-transcendence in business ethics. Using Bergson’s theory of the two sources of morality and religion (Bergson, 1932), the article explores the potential of spiritual-based ethics and leadership as a lever to re-vitalize business ethics and to disclose a more inspiring concept of responsibility and sustainability in business.