Caring Management in the New Economy: Socially Responsible Behaviour Through Spirituality

In an uncertain, fast-changing world that globalization, digitalization and financialization have transformed— inducing a “civilization” change — on a planet fragilized by man’s greed and excess of consumption, we need to explore new paths to create value for the Common Good in a sustainable environment, caring for future generations. The paper explores the relevance of spirituality for nurturing an alternative set of values and to promote the development of organizations in which “caring” would be embedded in management philosophy, in corporate culture and practices. Examples are given and a path proposed to develop globally responsible leaders and entrepreneurs who will have internalized the benefit and the potential strength of spirituality and who will value the relevance of a “caring” behavior in their leadership role. The authors explore how business schools — if they really desire to walk the talk to be a “force for good” — can develop an education process that would enhance this individual’s quest for spirituality and leverage it to guide leadership behavior. Given the state of the planet today and our observation of current corporate managerial behavior, a narrative of doom is a huge temptation. However, if “spirituality” could induce entrepreneurs and leaders to build “caring organizations” that are also effective, then hope could be around the corner. But can spirituality — conspicuously absent from the core curriculum of present-day management education — be taught and “developed”? And if so, could business schools then begin to contribute to the building of spiritual capital and develop effective “caring” organizations? Challenging questions but highly relevant now, particularly if business schools — like INSEAD today or Business School Lausanne and Exeter yesterday — really want to walk their talk: to be a “force for good”. The paper, following an assessment of today’s business environment, gives comments on spirituality and its relevance for entrepreneurs and managers. Then it introduces some examples of current leaders and organizations said to rely on “caring” management. It also explains why a paradigm shift is imperative, along with the difficulties it brings. The paper ends by discussing the role of business schools in facilitating the changes the author believes necessary, and concludes with a personal view.