MANAGEMENT ETHICS

The ethical MBA

Contents of management studies

CURRENT CONTENTS Specialization Electives Soft skills Personality development Internship (corporate exposure) Encouraging out of the box thinking. Problem solving/ Case study

What could be better contents for management studies

Emphasis on skills and competence rather than theory and analysis. Giving Voice to Values (Providing guidance with the help of case study as to how one can act ethically and still enhance shareholder value with long lasting growth of the organization)

Can management studies impart ethical behavior

Dan Ariely, the behavioral economist and author of Predictably Irrational: The Hidden Forces That Shape Our Decisions, found in a research study that when people are merely reminded of a moral benchmark, instances of dishonesty and cheating are notably reduced. During Management course one can be repeatedly imbibed with thoughts to think and take appropriate ethical action. Fear also has the capacity to overpower greed so awareness of consequences made available can refrain many from being unethical.

Agents
1. 2. 3. 4. 5. Students Professors Management Business environment Society

Students
Harvard Business School recently hosted two white collar criminals to share with students how a slippery slope landed them in federal prison for fraud. The lesson was that we "practice" making bad decisions through daily, seemingly inconsequential, unethical choices (adding $5 to an expense reimbursement, for example).

The felon reflected: "Through small acts, I built up a capability for making and rationalizing unethical decisions.

Professors
They set an example. Students lookup to them so strict action should be taken against non-compliance. Schools should keep MCQs for children at all ages to tick how they would behave in a particular scenario and teachers should proactively spend more time with the ones unaware. They should have an Oath too.

Management
INDUSTRY making syllabus good summers give guest lectures give grants to colleges COLLEGE get great faculty, get great students through great interviews don't have 100% pass results make people EARN the degrees. give assistance to differently enabled

Business environment
Reporting with evidence. External Audit. Consequence against person if guilty of misconduct should be clearly stated. The buck should stop here and heads in management should roll.

Society
Support NGO's Avoid bystander apathy Support education Set examples of being ethical System of reward and punishment

Why so many business failures

Low involvement of ethics at every level. Unconscious effort by people at every level. Loss of sentiments Crisis: character, commitment to a leaderships role. Issue: Amount of time spent on improving the character of a person. Age(B-school age is 22-23) : people should be taught ethics since they are born. So teaching ethics is impossible, it has to be a conscious effort.

What is the vision for the MBA Oath?

The MBA Oath is an important "first step" of a long journey toward improved business leadership. The Oath is not a silver bullet that in and of itself will suddenly alter the course of business. Rather, it is a catalyst to bring serious business leaders together to engage in the difficult work of asking how a higher ethical standard can drive decision-making how principles can drive action.

Will a oath really help??

It may prompt a second thought.

AWARENESS : THOUGHT DILEMMA RECALL OATH THOUGHT ACTION (RIGHT or WRONG) UNAWARE : Analysis of getting caught ACTION