Abstract
This chapter introduces how to put moral capital into practice, and offers a moral capital assessment system, trying to build an operable module based on which morality may join the production process as a productive resource.
Originally titled The Ninth Study on Moral Capital: Types of Corporate Moral Capital and its System. Morality and Civilization. 2014. Issue 6 (revised evaluation system is provided herein). Wang (2014, pp. 288–292), Wang (2015, pp. 187–206). References regarding corporate moral capital assessment include: Xu (2009). Chapter XIV “Assessment”. Andriessen and Tissen (2002). Chapter III “Examine Your Core Competencies”, Chapter IV “Evaluate Your Strength”, and Chapter V “Measure Your Value”. Enderle (2002). Chapter X “Corporate Ethical Assessment”.
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Notes
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It should be pointed out that morality, as a type of capital, must rely on or penetrate into business operations to play it role. Moral capital is a capital factor in the economic activities of companies. The corporate moral capital practice and assessment system doesn’t mechanically separate morality from business operations; rather, it stresses that morality or moral capital is an integral and necessary part of business operations. Under the leadership of the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China (AQSIQ), and China National Institute of Standardization, the China Association for Quality, together with some relevant experts, revised the Criteria for Performance Excellence (GB/T19580—2004) and Criteria for Performance Excellence Implementation Guidelines (GB/Z 19579—2004) based on the Product Quality Law of the People's Republic of China. The revised versions are Criteria for Performance Excellence (GB/T19580—2012), and Criteria for Performance Excellence Implementation guidelines (GB/Z19579—2011). The revised Criteria and Guidelines takes moral concepts or the elements of moral capital as an important part. Particularly, the Criteria requires the executives of companies to (1) fulfill their social responsibilities, and to determine specific corporate missions, visions and value which shall affect employees and the entire process of business operations; (2) improve product and service quality, increase the management level, and constantly incorporate innovation into management according to the current and future needs, expectations, and preferences of customers, in a bid to increase customer satisfaction and loyalty; (3) follow the concept of “human-centered” management to arouse the enthusiasm of employees, promote the individual development of employees, and protect the rights and interests of employees, thus improving employee satisfaction; and (4) cooperate with stakeholders to realize win-win development. It’s clear that moral concepts and means are essential for corporate development. China Association for Quality, and China Institute for Quality Excellence (2012, pp. 1–23).
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Andriessen and Tissen (2002).
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The “market value” of an enterprise (company) refers to the estimated value or “potential value” of the enterprise (company) based on the moral factors such as employee loyalty, entrepreneur moral awareness, human-centered management, service reputation, stakeholders’ sincerity in cooperation, and social influence. The “book value” of an enterprise (company) stands for the actual economic income of the enterprise (company) obtained by subtracting depreciation/amortization, and provision of depreciation from book balance.
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Andriessen and Tissen (2002, pp. 10–18).
References
Andriessen, Daniel and Rene Tissen. 2002. Weightless wealth: Find Your Real Value in a Future Of Intangible Assets, Trans. by Wang Cheng, Song Bingying, and Shen Miaoying. Nanjing: Jiangsu People’s Publishing House [Netherlands].
China Association for Quality, and China Institute for Quality Excellence. 2012. Practice of Criteria for Performance Excellence (Version II). Beijing: China Zhijian Publishing House, and Standards Press of China.
Enderle, Georges. 2002. Action-oriented Business Ethics, Trans. by Gao Guoxi, Wu Xinwen et al. Shanghai: Shanghai Academy of Social Sciences Press [US].
Wang, Xiaoxi. 2014. On Moral Capital (Chinese Version). Nanjing: Yilin Press.
Wang, Xiaoxi. 2015. Economic Ethics—A Philosophical Analysis on the Relationship between Economy and Morality. Beijing: People’s Publishing House.
Xu, Dajian. 2009. Corporate Ethics. Beijing: Peking University Press.
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Wang, X. (2018). Corporate Moral Capital Practice and Assessment System. In: The Theory of Moral Capital. Springer, Singapore. https://doi.org/10.1007/978-981-13-0478-1_5
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DOI: https://doi.org/10.1007/978-981-13-0478-1_5
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