Addressing the Crises of Modern-Day Capitalism through Responsible Management: A Call for Multidomain Microfoundations Research

In recent years a growing number of scholars have argued the case for ‘responsible management’, an approach that proactively works toward the creation of a world that is more livable for everyone. In so doing, they have highlighted the role of irresponsible managers in perpetuating global inequalities, the rising tide of major ethical breaches, and the rapidly escalating climate emergency, among other major dysfunctions of contemporary capitalism. Thus far, responsible management scholars have analyzed these problems primarily from macro-organizational and societal perspectives. Although valuable, these perspectives largely overlook key developments in microfoundations research that have the potential to offer more nuanced person ×situational explanations of why some managers are choosing to address these problems responsibly, whereas others are continuing to fuel them. To address this shortfall, in this essay we call for new multi-domain microfoundational research to illuminate the cognitive and affective bases of decision makers’ judgments and choices with respect to ir/responsible management behaviors. In particular, we want to foster work that advances understanding of the extent to which, and in what ways, managers (and other organizational stakeholders) are able to overcome the cognitive and emotional complexities inherent in attempting to meet the fourfold ethicality, responsibility, sustainability, and management imperatives pertaining to responsible management. Our ultimate hope is that our essay will stimulate a fresh wave of discoveries that enrich theory and inform the design of interventions that accelerate progress toward a form of capitalism that is ultimately both fairer and more sustainable.