MONASTIC APPROACH TO GOVERNANCE AND LEADERSHIP: A LITERATURE REVIEW

The financial crisis and recent cases of inflated manager compensation, corruption and falsified financial statements have shown clearly that actual corporate governance practice is not able to prevent the abuse of power, manipulation of incentives and excessive risk taking. This fact reveals the need to look at these issues from a different point of view. Having established basic governance instruments very early, monasteries were able to survive over centuries and had an essential impact on the development of the economy in Europe. A 1,500 year history of the Regula Benedicti and a wide variety of Benedictine organizations illustrate the relevance of the Regula Benedicti to many types of organizations. A considerable part of the Regula Benedicti is devoted to leadership issues. Consequently, it offers a useful time-tested model for organizational development and re-instilling ethical leadership. In this paper we conduct a content and citation analysis of 34 articles that deal with governance and leaders...