The ethical implications of short-termism: Leadership failure in the executive suite

The author argues that managing to maximize short-term performance in ordinary circumstances is a failure not only of sound management practice but of moral principle. Management for the short term is largely a manifestation of self-interest which is unethical when it harms the long-term competitiveness and viability of the firm and, thus, the interests of all stakeholders but transient speculators and management itself.