Wetherly & Otter

© Oxford University Press, 2013. All rights reserved.

Responsibility

Credit Crisis

Authored by Simon Robinson

Wetherly & Otter: The Business Environment, edition number – edit on master slide

• Mortgages to subprime lenders• CDOs• Takeovers and failure of risk analysis• Poor regulation• Credit rating agencies collusion• Short term profit • Governments (deregulation)• Academia (The Inside Job 2011 Sony, Ghoshal 2005, Khurana

and Nohria 2009)

Conventional analysis

Wetherly & Otter: The Business Environment, edition number – edit on master slide

Responsibility 1

Agency. Knowing: -what you are doing-what your purpose and values are (phonesis/prudentia- nurse)-How you perceive the world -the effect you have on the social and physical environment.•Identity•Holistic•Practice centred (analogous to virtues- Arthur Andersen)- Aristotle, Taylor (1989), Nussbaum, Robinson 2009, 2014.

Bankers…… Boards……

Wetherly & Otter: The Business Environment, edition number – edit on master slide

Accountability to.

Capacity to give an account of thinking and action to anyone (inclusive stranger).

Such accountability does not demand that stakeholder needs as such are met. It does demand that ideas and action can be questioned.

Accountability and time

Dialogic (asymmetrically mutual)

Plural narratives (multiple conversations, cg Henry V)

Temporal over time, in context

Bankers….Boards…. And metrics….

Responsibility 2

Wetherly & Otter: The Business Environment, edition number – edit on master slide

Responsibility for. -Universal responsibility (tied to perception, perception as value centred)-Negotiation between stakeholders to determine who is responsible and how responsibility is and can be shared and enacted (beyond stakeholder theory)-Professional model (engineers)- both and/and

Dialogic

Creative

Identity

Bankers….Boards

Responsibility 3

Wetherly & Otter: The Business Environment, edition number – edit on master slide

• Responsible culture- the practice of phronesis and questioning (whistleblowing, )

• Cross cultural responsibility- different or a bridge between cultures?

• Theories, values, practice- compensation philosophies etc. Practice needs to claim theory.

• The practice of dialogue and dialogue of practice• Phronesis, techne, episteme, balance of virtues • Identity, face, integrity, shame, legacy, ultimate

accountability• Responsibility and madness: Delusion, dissociation, denial.

Issues