• Behavioural Economics and Social Economics: Opportunities for an Expanded Curriculum

      Manning, Paul; University of Chester (Emerald, 2019-08-12)
      The Global Financial Crisis (GFC) undermined the legitimacy of orthodox economic assumptions, which nevertheless continue to frame business school pedagogy. In consequence, there is an opportunity for socio-economic insights to be more fully incorporated into the business school curriculum. This article reports and reflects on a socio-economic case study that was delivered to MBA students. The article demonstrates that the developing literature on behavioural economics has the potential to enhance students’ social-economic understanding of key areas of the curriculum. The paper presents an inter-disciplinary socio-economic teaching case that was informed by insights from behavioural economics. The teaching case concerned a socio-economic understanding of corruption and white-collar crime. It was also inter-disciplinary to include inputs from business history and criminology. The aim of the teaching case was to develop an appreciation among students that corruption and white-collar crime can be analyzed within a social economics lens. The teaching case example discussed in this article offered an alternative socio-economic understanding to core areas of the MBA curriculum, enabling students to apply a behavioural economic approach to corruption and more generally to white-collar-crime. The findings derived from this case study is that behavioural l economics has the potential to enhance the teaching of socio-economics. The GFC presents an opportunity to re-shape the business school curriculum to acknowledge the centrality of socio-economics and consequently to offer an alternative to the dominant ontological assumptions -taken from the economic understanding of rationality-that have previously under-pinned business school pedagogy. The originality of this article is to apply behavioural economics to a socio-economic teaching case studies in core subject areas of the MBA curriculum.
    • Benchlearning; Good Examples as a Lever for Development, Book Review

      Manning, Paul; The University of Liverpool
      Book Review
    • Case Histories in Business Ethics by Megone, C. & Robinson, S. J., Book Review

      Manning, Paul; The University of Liverpool
      Book Review
    • The Contrarian’s Guide to Leadership, Book Review

      Manning, Paul; The University of Liverpool
      Book Review
    • Dark Open Innovation in a Criminal Organizational Context: the Case of Madoff’s Ponzi Fraud

      Manning, Paul; Stokes, Peter; Visser, Max; Rowland, Caroline A.; Tarba, Shlomo Y.; University of Chester; De Montfort University; Radboud University; University of Central Lancashire; University of Birmingham (Emerald, 2018-06-11)
      his paper investigates the processes of open innovation in the context of a fraudulent organization and, using the infamous Bernie L. Madoff Investment Securities (BLMIS) fraud case, introduces and elaborates upon the concept of dark open innovation. The paper’s conceptual framework is drawn from social capital theory, which is grounded on the socio-economics of Bourdieu, Coleman and Putnam and is employed in order to make sense of the processes that occur within dark open innovation. Given the self-evident access issues, this paper is necessarily based on archival and secondary sources taken from the court records of Madoff v New York—including victim impact statements, the defendant’s Plea Allocution, and academic and journalistic commentaries—which enable the identification of the processes involved in dark open innovation. Significantly, this paper also represents an important inter-disciplinary collaboration between academic scholars variously informed by business and history subject domains. Although almost invariably cast as a positive process, innovation can also be evidenced as a negative or dark force. This is particularly relevant in open innovation contexts, which often call for the creation of extended trust and close relationships. This paper outlines a case of dark open innovation. A key implication of this study is that organizational innovation is not automatically synonymous with human flourishing or progress. This paper challenges the automatic assumption of innovation being positive and introduces the notion of dark open innovation. Although this is accomplished by means of an in-depth single case, the findings have the potential to resonate in a wide spectrum of situations. Innovation is a concept that applies across a range of organization and management domains. Criminals also innovate; thus, the paper provides valuable insights into the organizational innovation processes especially involved in relation to dark open innovation contexts. It is important to develop and fully understand the possible wider meanings of innovation and also to recognise that innovation—particularly dark open innovation—does not always create progress. The Caveat Emptor warning is still relevant. The paper introduces the novel notion of dark open innovation.
    • The dark side of social capital: Lessons from the Madoff case

      Manning, Paul; Leeds Metropolitan University
      Book chapter exploring the dark-side of the social capital concept.
    • Economic Rationality and Corporate Social Irresponsibility: An Illustrative Review of Social Capital Theory.

      Manning, Paul; Leeds Metropolitan University
      Purpose The purpose of this chapter is to argue that utility maximisa- AU:1 tion, taken from a narrow economic understanding of rationality, frames contemporary business school pedagogy and management theory. The chapter will illustrate this observation by detailing the rational framing assumptions in social capital literature. The chapter will argue that these framing rational notions foster a perspective that inclines towards excessive self-interest as well as a concomitant lack of fellow feeling or morality. Methodology Literature review Findings The chapter demonstrates that the narrow economic understanding of rationality that predominates as the framing notion in management theory tends towards amorality as it privileges individual self-interest. In consequence, the significance of ethics and cooperation are under-reported and under-emphasised which leads to CSI. These AU:2 observations are discussed with reference to social capital theory. Research implications To consider the significance of the underacknowledged rational background or framing perspectives in distorting theory and empirical research in social capital literature, and more generally in contemporary management literatures and business school pedagogy. Social implication There is a need to re-examine and challenge the validity and application of rational notions in contemporary management literatures and pedagogy. Originality The chapter identifies that a narrow utility maximising understanding of rationality frames and therefore inhibits current management literatures and pedagogy, including social capital literature.
    • Embedding Anti-Corruption in the MBA Curriculum: Reflections on a Case History Analysis of Affinity Fraud

      Manning, Paul; University of Chester (Emerald, 2018-02-05)
      Purpose – This paper aims to report a case history delivered to MBA students that developed their understanding of corruption and also enhanced their ability to be able to contribute to the anti-curriculum agenda. This case history method selected was innovative, as it was constructed from multidisciplinary archival sources. The case focus was the egregious affinity fraud of Bernard L. Madoff Investment Securities (BLMIS), with court documents taken from “United States V. Bernard L. Madoff And Related Cases USAO-SDNY”, including court sentencing records, victim impact statements and the defendant’s “Plea Allocution”. The case study aimed to enhance students’ ability and inclination to recognise and oppose corrupt practices. The longer-term ambition of the case was to contribute to developing the students’ moral awareness, character and facility for self-reflection, in terms of responding to corruption. The case study exercise also addressed rising societal expectations for more robust responses to corruption, in terms of illustrating how business school pedagogy can be expanded to emphasise the centrality of ethics and corporate social responsibility (CSR) to economic life. The case history was analysed within Carroll’s CSR pyramid and also with themes derived from the developing area of behavioural ethics, including a deontological, justice for its own sake and focus. Design/methodology/approach – This research used the qualitative case method (Stake, 2000; Yin, 2004, 2010, 2011) to investigate lived experience from the viewpoint of those being studied and to provide the case history “experience”, using an analytical lens developed from Carroll’s CSR pyramid (1991) and from behavioural ethics research. Furthermore, following Chell’s recommendation, the case history of theBLMIS fraud was chosen – “[. . .] for analytical purposes to produce insight into the phenomena in question” (2008). The case was constructed from archival sources, including court records of the sentencing of Bernie Madoff. Findings – The findings of the research are that students gained knowledge and understanding of the nature and practice of corruption, as well as developing their understanding of the anti-corruption agenda. The case also facilitated students to develop their moral awareness, character and facility for self-reflection with reference to corruption. In sum, the findings are that case histories, using archival sources, in this instance taken from the court records, have the potential to enhance teaching and learning in business ethics and responsible management education. Research limitations/implications – A limitation of this research is that it is reporting on one instance of a classroom delivery of the case study. In consequence, a recommendation for future research is for CSR and ethics focussed educationalist to conduct similar case study teaching to add to and complement the conclusions reached in this paper. Originality/value – This paper is original in detailing and reflecting on a case history teaching example of global corruption. This case history teaching method was innovative, as it was constructed from archival sources taken from court records to include victim impact statements and the defendant’s “Plea Allocution”.
    • The Entrepreneurial Personality: A Social Construction, 2nd ed., Book Review

      Manning, Paul; Leeds Metropolitan University
      Book Review
    • Entrepreneurial stories, narratives and reading – Their role in building entrepreneurial being and behaviour

      Manning, Paul; Stokes, Peter; Rodgers, Peter; Shlomo Yedidia, Tarba; University of Chester; De Montfort University; University of Birmingham; The University of Leicester (Sage, 2019-12-03)
      The article undertakes an innovative study focusing on the choices and manners of entrepreneur reading as a means of developing resilience and responding to the challenges and crises that entrepreneurial activity presents. The article explores predominant patterns of entrepreneurial learning and challenges the assumptions on which these are grounded. This allows original insights and perspectives to be developed with which to enhance understanding of entrepreneurial sense-making. The study employs a qualitative methodology involving purposive semi-structured interviews with entrepreneurs to determine the ways in which they identify, engage with and operationalize entrepreneurial behaviour based on their reading. The ensuing fieldwork provided a range of findings and discussion themes centred on dynamic and non-linear behaviour, reading and transformative learning events, and social interaction and reading. The study concludes with a range of observations on the power of reading in assisting entrepreneurs to develop resilience and behaviours for coping with the challenges and crises which are an integral aspect of entrepreneurial activity.
    • Entrepreneurs and Friendship: the ties of Mutuality

      Manning, Paul; Leeds Metropolitan University
      The purpose of this paper is to present theoretically informed research into the significance of business friendships for entrepreneurs. The importance of social ties for economic success has been examined in depth from a number of academic perspectives. For example from a business ethics perspective, Jonathan Schonsheck has taken Aristotle’s classical analysis to argue that business friendships are an example of ‘incomplete friendships for utility’ (2000, pp. 897-910). Laura Spence has also argued that business friendships offer a positive contribution to the well-being of actors (2004). Network theory literature, which is extensive (see Nitin & Eccles, 1990, for an overview), has also considered business friendships and there is a further subset of network research focusing on entrepreneurial processes from a social network viewpoint (Blundel & Smith, 2001; O’Donnel, 2004; Shaw & Conway, 2000, pp. 367-383). Moreover, Mark Granovetter’s seminal article ‘The strength of weak ties’ (1973) can be thought of as theorising business friendships in network terms. Additional related research fields, such as social capital theory (Castiglione et al, 2008), have also considered the significance of social ties (business friendships) for success in the marketplace.
    • The ethical challenge of Big Tech’s “disruptive philanthropy”

      Manning, Paul; Baker, Nigel Timothy; Stokes, Peter; The University of Chester, The Thomson Institute, De Montfort University (Taylor and Francis, 2020-08-31)
      This article provides a review of research into global philanthropy and the disruptive practices of new technology companies. In this article we detail how “Big Tech” has created a new marketization of philanthropy, based on its sectoral values of innovation, entrepreneurialism and focus on financial and performance metrics. Consequently, we argue for a new ontology of philanthropy that acknowledges marketization as its guiding principle. The study examines and compares different market-focused, philanthropic paradigms, which have evolved through the business values of Big Tech and examines their moral motivations. The topic is viewed through the lens of ‘hybrid organizations’; a model for non-profit entities and social businesses which, in turn, are seeking a market-oriented pathway of balancing the twin demands of managing mission and money. A conceptual framework is then provided to inform practitioners in non-profit organizations about the issues and risks of engaging with the new types of philanthropy, to which we collectively refer as ‘disruptive philanthropy’. The article concludes by recommending further research into the ethics of Big Tech to understand the true motivations behind its philanthropic practices at a time when the sector is under intense governmental and media scrutiny.
    • Explaining and Developing Social Capital for Knowledge Management Purposes.

      Manning, Paul; Leeds Metropolitan University
      Purpose – The purpose of this paper is to review the growing literature bridging social capital (SC) and knowledge management (KM). The paper seeks to identify the causal factors for this recent research into the connection between SC and KM, and also to explicate the relationship between the most relevant neo-capital theories and KM. Further, the paper aims to argue that Granovetter’s and Coleman’s socially embedded understanding of market activity is the most relevant for examining the SC and KM interface. Finally, the paper seeks to offer guiding approaches drawn from SC literature for enhancing KM performance. Design/methodology/approach – The paper reviews the SC literature from a KM perspective. Findings – First, interest in SC from KM scholars is driven by a number of inter-linked causal factors. Second, SC is significant for KM purposes and can be understood as being complementary to and parallel with other intangible capitalisations, such as human capital (HC) and intellectual capital (IC). Third, there are a number of guiding notions that organisations can adapt to construct and enhance SC for KM purposes. However, SC processes are complicated and context-dependent and therefore resistant to micro-management and ‘‘one size fits all’’ prescriptions. Originality/value – The paper examines the broader context of the SC and KM interdisciplinary meeting place. It argues for an ‘‘embedded’’ theoretical understanding of SC that is most relevant for KM performance, and also explicates the parallel nature of neo-capital theories from a KM perspective. The paper also suggests a number of guiding approaches that organisations can adapt to analyse and develop their SC for KM purposes.
    • Exploiting the social fabric of networks: a social capital analysis of historical financial frauds

      Manning, Paul; The University of Chester (Taylor & Francis, 2018-10-21)
      ABSTRACT The article will present two strategic cases of financial fraud that demonstrate the recurring reference points that conmen use to facilitate their white-collar crimes. The cases are constructed from the Ponzi and Madoff financial frauds, perpetrated by the most well swindlers of the twentieth and (so far) twenty-first centuries. The article will illustrate that their ‘modus operandi’ shared essential reference points, as it owed as much to their sophisticated socioeconomic insights and consequent exploitation of social capital processes, as it did to their sophisticated insights into criminal financial schemes and financial engineering. This article will demonstrate that social relations and the resources that inhere in these relations (social capital) can be negative. This contribution will add to an emerging field of analysis that considers deviant organizational behavior. For this article, the negatives of social capital will be described as its shadow aspect, which for financial fraud includes decision-making based on excessive in-group trust, as well as general credulity replacing due diligence. The article’s theoretical contribution will be to develop understanding of historical phenomenon, in this instance of financial fraud, with the application of the shadow side of the social capital concept.
    • Madoff’s Ponzi Investment Fraud: A Social Capital Analysis

      Manning, Paul; University of Chester (Emerald, 2017-05-08)
      Purpose: The social network analysis of criminal networks at both the ego and socio-centric level is well established. This purpose of this study is to expand this literature with a social capital analysis of a criminal network. The focus of the analysis will be the recent egregious investment fraud of Bernard L. Madoff Investment Securities (BLMIS). Design/methodology/approach: This research involves a case study of the BLMIS financial fraud. The article uses a social capital theoretical lens, with archival sources taken from the court records of Madoff v. NY to include victim impact statements and the defendant’s Plea Allocution. Findings: Financial crime literature can be expanded with a social capital analysis which facilitates a socio-economic analysis of ego-centric criminal networks. Research limitations/implications: Each financial crime is of its time; however, there are recurring socio-economic network characteristics that could be applied to develop an understanding of criminal networks. Practical implications: Any understanding of financial crime, including contemporary instances of criminal innovation, such as cyber-crime, can be enhanced with a social capital analysis of criminal networks. Originality/value: A social capital analysis of financial crime draws attention to “human factors” in criminal networks that are integral to this form of crime.
    • "On Mission and Leadership", Book Review

      Manning, Paul; The University of Liverpool
      Book Review
    • Putnam and Radical Socio-Economic Theory.

      Manning, Paul; Leeds Metropolitan University
      Purpose – The purpose of this paper is to review the social capital treatment of Robert Putnam, the most influential conceptual theorist. The paper will detail how Putnam’s treatment of social capital has evolved, examine the arguments of his critics and will also critique his socio-economic analysis. Design/methodology/approach – The approach taken is a literature review that investigates Putnam’s social capital understanding and considers the reasons why this conceptual treatment “touched a nerve” and proved so influential and adaptable. Findings – Putnam’s social capital treatment belongs to a socio-economic communitarian tradition that can be traced to de-Tocqueville, which offers an alternative to both mainstream free market ideology and to leftwing socio-economics. Originality/value – The originality of this paper is to identify Putnam as a radical in a methodological sense, reinvigorating a Burkean, consensual interpretation of socio-economics. The value of this paper is to offer a critique of Putnam’s interpretation of social capital. Keywords Social capital, Social economics, Economic theory Paper type Literature review
    • Social Capital: A review from an ethics perspective

      Ayios, Angela; Jeurissen, Ronald; Manning, Paul; Spence, Laura J.; Ayios, A. Brunel University; Jeurissen, R. Nyenrode University; Mannin, P. Liverpool UNiverisrity; Spence, L. R., Royal Holloway, University of London. (Wiley & Sons, 2014-01-30)
      Abstract Social capital has as its key element the value of social relationships to generate positive outcomes, both for the key parties involved and for wider society. Some authors have noted that social capital nevertheless has a dark side. There is a moral element to such a conceptualisation, yet there is scarce discussion of ethical elements within the social capital literature. In this paper ethical theory is applied to four traditions or approaches to economic social capital: neo-capitalism; network/reputation; neo-Tocquevellian; and development. Each is considered in detail and subject to ethical analysis by the application of utilitarianism, Kantianism, justice and rights, and ethic of care. Accordingly the assumption that social capital is either value-neutral or a force for good is critiqued and a framework for understanding social capital from an ethics perspective presented.
    • The human factor in social capital management: The owner-manager perspective

      Manning, Paul; University of Chester (Emerald, 2015-02-05)
      This book investigates the management of social capital processes as they are accomplished-understood, experienced and shaped-by owner-managers. The aim of the book is to develop a deeper understanding of the management of social capital processes, to achieve a greater congruence between real-life perspectives and experiences and social capital literature. The book argues that social capital is situational, and in the economic situation the theory has been bounded by rational choice framing assumptions. The research problem is that claims for the universality of the economic way of looking at life, and for looking at social capital processes are over-stated. Predicated on this insight the research investigates economic notions of rationality, and low and non-rationality, as well as their inter-dependence in the management of social capital processes. The research follows a qualitative approach for data collection, with flexible pre-coding to guide the research where to look, while retaining an inductive openness to emergent data. The research population is drawn from SME owner-managers in the service and retail sectors, who were researched over two years using semi-structured interviews, observation, and by researcher participant observation. The research presents a number of contributions to knowledge. First, the research offers an in-depth, single source review explicating the meaning of the economic form of social capital, with reference to its intellectual antecedents, conceptual debates and key theoretical authors. The second (emergent research) contribution is to identify the significance of ethics and autodidactic reading for managing social capital processes. The third (theoretical) contribution argues for an expanded social capital perspective, beyond the prevailing and over-confident rational framing assumptions, and also for a new holistic ontological understanding. The fourth contribution is to identify a number of generic processes that can guide the management of social capital processes.
    • The MBA Student and CSR: A Case Study from a European Business School  

      Manning, Paul; University of Chester (Emerald Publishing Limited, 2018-07-19)
      Purpose The purpose of this chapter is to develop a deeper understanding of the CSR perspectives of MBA in the European context. The chapter will review literature from the US and Europe focused on business school ethics and the CSR. The chapter will then present the findings generated from research into MBA students’ ethics and CSR from a European business school research site. Methodology This was inductive research, and data was collected with qualitative semi-structured interviews. The research population was purposely selected from two cohorts of MBA students, one comprising P/T, the other F/T students. Findings The research confirmed that there are broad similarities between the US and Europe, in terms of a students’ experiences of business school scholarship and pedagogy. The research also confirmed however, that these European based students wanted a greater focus on CSR, for instance in terms of addressing the relationship between business and the environment, which students do not consider is adequately addressed in their programmes. Furthermore, and reflecting US experience, students reported at the completion of the MBA that they were conscious that they had become more focused on their individual ‘rational’ self-interest, with the goal of increasing their own material success. Not all of these students were content with this change, but they reported that it had been embedded within them, as a consequence of studying for an MBA. Social Implication US based research, and this example from the European context both point to the conclusion that there is dominant instrumental paradigm in HE business and management pedagogy. This paradigm needs to be challenged to restore society’s ethical and CSR expectations, and also to facilitate the moral education of more socially responsible MBA graduate managers. The research confirmed that students are very much in favour of CSR framed changes to the MBA programme Originality This chapter contributes to a developing research stream into MBA programmes and CSR in a European context.