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Chapter 6: The Nexus of Managerial Imperfect Duty: Relations of Virtue, Discourse, and Due Diligence

In: Business Ethics: Kant, Virtue, and the Nexus of Duty

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  • Richard M. Robinson

    (SUNY Fredonia)

Abstract

The nexus of imperfect managerial-duty is defined as management’s collection of volitional attitudes and actions in pursuit of a moral purpose, but that have practical limits. This describes business behavior towards building affable and virtuous relations, maintaining reasoned social- discourse, and performing the due diligence necessary for making knowledgeable business decisions. A theory of the development and extent of the limits of these imperfect managerial duties is presented here, a theory that in part explains the activities and personnel included under the firm’s umbrella. As a result, the nexus of imperfect duty is shown to complement the perfect duty-based nexus-of-contracts theory of the firm. The existence of flexible tradeoffs involving these imperfect duties, tradeoffs not easily amenable in contractual arrangements whether explicit or implicit, is shown to be one of the advantages of imperfect duty for developing business relations. As a result, the pursuit of shareholder wealth is not subject to contracting, i.e. it is not a perfect duty. Shareholder wealth pursuit emerges from the nexus of imperfect duty.

Suggested Citation

  • Richard M. Robinson, 2022. "Chapter 6: The Nexus of Managerial Imperfect Duty: Relations of Virtue, Discourse, and Due Diligence," Springer Texts in Business and Economics, in: Business Ethics: Kant, Virtue, and the Nexus of Duty, pages 101-121, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-85997-8_6
    DOI: 10.1007/978-3-030-85997-8_6
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