This study unpacks how responsible leadership driven by a social mission can accomplish both social objectives and financial goals to support an organization's survival. We focus on a social enterprise in the healthcare industry in China and examine how it balances its social mission and economic goals by enlarging the capacity of medical institutions and providing high-quality services to a high number of patients. Through our analysis of the case firm, we reveal the motivation and actions of an entrepreneur in establishing a socially responsible firm and the social implications of responsible leadership in operating such an enterprise. We provide an important supplement and extension to the work of Smith and Besharov (2019) by demonstrating how a responsible leader in China manages the process of balancing social and economic goals. We further contribute to the understanding of how a socially responsible firm can improve the healthcare industry and the reform of China's healthcare.

This article introduces the first of two special issues on philosophical approaches to leadership ethics. In it, we show some of the ways that philosophy contributes to the study of leadership and leadership ethics. We begin with an overview of how philosophers have treated some of the ethical aspects and challenges of leadership. These include discussions of self-interest, the problem of dirty hands, responsibility, moral luck, power, gender and diversity, and spirituality. The articles in this issue draw on philosophy to explore a variety of ethical questions related to leadership and the relationships that leaders have with followers and others.

In this paper we examine how ethical values contribute to national economic prosperity. We extend the concept of an ethical wealth of nations first introduced by Donaldson in which he proposed four categories of ethical values—fairer distribution of goods, better government, ingrained social cooperation, and inculcation of economic duties—that can drive economic performance, but only if citizens ascribe “intrinsic value” to them independent of their economic interests. Our analysis draws on institutional economics and sociology research to show that if ethical values are to drive economic performance, they must also be supported by the institutional fabric of the nation. We embed an expanded set of ethical values in a set of democratic, free market and civil society institutions spanning three sectors of society—political, economic and cultural respectively. We conclude by discussing the implications of our institutional framework for moral education.