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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 being
unethical.
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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 thedegrees.
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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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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