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This paper builds on London and Hart's critique that Prahalad's best-selling book prompted a unilateral effort to find a fortune at the bottom of the pyramid (BoP). Prahalad's instrumental, firm-centered construction suggests, perhaps unintentionally, a buccaneering style of business enterprise devoted to capturing markets rather than enabling new socially entrepreneurial ventures for those otherwise trapped in conditions of extreme poverty. London and Hart reframe Prahalad's insight into direct global business enterprise toward ''creating a fortune with the base of the pyramid'' (p. xi) rather than at the BoP. This shift in language requires a recalibration of strategic focus, we argue, and will necessitate implementation of ''moral imagination'' to formulate new mental models that can frame the possibility of local entrepreneurs working collaboratively and discursively with development partners drawn from civil society, corporate, and government sectors. Successful partnerships will arise from interactive processes of emergent, co-creative learning within a shared problem domain or ''community of practice''. We call attention to three related pluralist framings of situated learning within such communities of practice: (1) decentered stakeholder networks; (2) global action networks; and (3) a focus on ''faces and places'' as a cognitive lens to humanize and locally situate diverse inhabitants within base of the pyramid partnership projects.

corporate governance, free enterprise, globalization, mental models, moral imagination,

The purpose of this paper is to give an account of some of the current areas of scholarship in business ethics and to suggest how these areas may be relevant for scholars working in other business disciplines. We endeavor to paint a picture of a healthy discipline full of controversy, rich intellectual discussions, and the beginnings of several research traditions. To begin, we examine how it is common practice to think of ‘business’ and ‘ethics’ as separate entities, and suggest how such a ‘separation thesis’ can be used to diagnose problems in a host of business disciplines. We next examine the literature on corporate agency and responsibility that questions whether or not a corporation can be said to be normally accountable, in the same way that individual moral agents can be held accountable, and we look at an emerging research tradition of ‘stakeholder theory’ that cuts across the disciplines of business. We then explore two contemporary issues in business ethics: (1) International Business Ethics; and, (2) Environmental Ethics and Business, and we conclude with suggestions for some additional research questions.

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