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MANAGEMENT ETHICS

The ethical MBA

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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

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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)

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Can management studies impart

ethical behavior

Dan Ariely, the behavioral economist and author

ofPredictably 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 beingunethical.

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Agents

1. Students

2. Professors

3. Management4. Business environment

5. Society

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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.

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Professors

They set an example.

Students lookup to them so strict actionshould be taken against non-compliance.

Schools should keep MCQs for children at allages to tick how they would behave in aparticular scenario and teachers should

proactively spend more time with the onesunaware.

They should have an Oath too.

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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

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Business environment

Reporting with evidence.

External Audit.

Consequence against person if guilty ofmisconduct should be clearly stated.

The buck should stop here and heads in

management should roll.

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Society

Support NGO's

Avoid bystander apathy

Support education Set examples of being ethical

System of reward and punishment

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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 thecharacter of a person.

Age(B-school age is 22-23) : people should be taught

ethics since they are born. So teaching ethics isimpossible, it has to be a conscious effort.

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HIPPOCRATIC OATH FOR MANAGERS

They did not actually say that greed is not good,but the oath taken on June 3, 2009 by more than400 students graduating from Harvard BusinessSchool amounted to much the same thing. At an

unofficial ceremony the day before they receivedtheir MBAs the students promised they would,among other things, serve the greater good,act with utmost integrity and guard against

decisions and behavior that advance my ownnarrow ambitions, but harm the enterprise andthe societies it serves The Economist June 4,2009.

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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 courseof business. Rather, it is a catalyst to bring

serious business leaders together to engage in

the difficult work of asking how a higherethical standard can drive decision-making

how principles can drive action.

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Will a oath really help??

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It may prompt a second thought.

AWARENESS :

THOUGHT DILEMMARECALL OATH

THOUGHT ACTION (RIGHT or WRONG)

UNAWARE :

Analysis of getting caught ACTION

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THE MBA OATH

As a business leader I recognize my role in

society.

My purpose is to lead people and manage

resources to create value that no single

individual can create alone.

My decisions affect the well-being of

individuals inside and outside my enterprise,

today and tomorrow.

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Therefore, I promise that:

I will manage my enterprise with loyalty and care, andwill not advance my personal interests at the expense

of my enterprise or society.

I will understand and uphold, in letter and spirit, thelaws and contracts governing my conduct and that of

my enterprise.

I will refrain from corruption, unfair competition, orbusiness practices harmful to society.

I will protect the human rights and dignity of all peopleaffected by my enterprise, and I will opposediscrimination and exploitation.

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I will protect the right of future generations to advancetheir standard of living and enjoy a healthy planet.

I will report the performance and risks of my enterpriseaccurately and honestly.

I will invest in developing myself and others, helping themanagement profession continue to advance and create

sustainable and inclusive prosperity.

In exercising my professional duties according to theseprinciples, I recognize that my behaviour must set anexample of integrity, eliciting trust and esteem from those Iserve. I will remain accountable to my peers and to societyfor my actions and for upholding these standards.

This oath I make freely, and upon my honor.

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