The best books for business ethics students and practitioners

My writing focuses on ethical failure, situations where people, when given the choice between the morally right and the morally wrong, choose the latter. Tackling the thornier “right versus right” ethical dilemmas is far more challenging. To do it requires an individual who is both a masterful thinker and writer. Joseph Badaracco is just that. In this brilliant book, Badaracco takes the reader into the minds of business people, at different levels of seniority, facing right versus right ethical dilemmas of increasing complexity. By doing so Badaracco not only provides insight into how challenging these dilemmas are to navigate, but also how finding a sensible path through is possible. This book is a must-read for business ethics students and practitioners.

Admittedly I don’t read enough fiction. However, good fiction books can be just as (if not more) instructive to business ethics students and practitioners as the best non-fiction works. The best ones provide lessons that are timeless. One example of this is Lord of the Flies. Based on the story of a group of schoolboys who become stranded on a deserted island, the book is a window into the dynamics that emerge when humans form groups – hierarchies naturally emerge, the battle for power is rarely pleasant, and power in the wrong hands invariably corrupts. More importantly, it shows that without the appropriate institutional guardrails to commend the good and condemn the bad, groups (and institutions) ultimately become dysfunctional and decay.

The more you read the classics, the more you come to realise that the challenges we debate and grapple with today are no different to those that have been debated and grappled with across the eras. Times might change, but human nature is a constant. And for me, in his Theory of Moral Sentiments, Adam Smith provides one of the best treatises on human nature. I am sure there have been other attempts made but in my mind nothing I have read comes close to this work. In parts it is clear that the book was written in a different era, but in the main the lessons and the insights it provides are timeless. I have read the book twice and still feel I have only scraped the surface in unearthing and absorbing the lessons it provides. It is that kind of book – it can become a companion and guide.

The majority of (if not all) ethical failures in the business world are caused by suboptimal (and at times completely flawed) incentives. If one wants to be a serious business ethics practitioner, then a basic understanding of incentives is a must – they matter. In this book, Jason Murphy provides a whirlwind tour of how incentives operate to drive both positive and perverse outcomes across a range of settings. The book is packed full of stories to illustrate the power of incentives and I think Murphy is onto something with the title – Incentivology should be a compulsory course in any undergraduate business or public policy course. And for Australian-based students and practitioners an extra bonus – Murphy is a local author.

The contribution Mary Gentile has made to modern-day business ethics education is unparalleled and it is in Giving Voice to Values that the story behind the curriculum she has developed resides. This book outlines the assumptions, research, and principles associated with the unique approach to business ethics education Gentile has developed. But more importantly, it provides the reader with practical guidance and advice on how they can prepare for and engage in those (at times challenging) conversations that aim to address issues with ethical import in their organisations. After reading this book, tools like pre-scripting, practice, and peer coaching will become part of your repertoire, and you will be better for it.