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Business Ethics – Criticizing Business Schools

Questions: Why are authors criticizing business schools? Do you agree or not agree their views? Why? They are criticizing business schools(specially top business schools) because authors think that they do not give enough importance to ethics and they haven’t changed themselves for a long time. Instead of teaching ethics in business, they say that these schools teach only “How to become successful business/finance person? ” to potential leaders. They claim that ethics should be taught to prevent to make students become greedy business monsters.

They give Dick Fuld at Lehman Brothers, John Thain at Merrill Lynch and Andy Hornby at HBOS as examples. Authors also criticize business school teachers because of their attitudes to ethical issues. They argue that they give more importance to donations from CEO’s and consulting business rather than teaching ethics. I mostly agree with authors views. Firstly, these cases are not that different at Turkey. For instance, we have seen some ethical finance issues at the time we have crisis(2001).

Some of greedy business people went bankruptcy and they instantly disappeared with money they got from government or innocent people. I think business ethics should be taught as a must course at business schools. Secondly, most of the

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time corporate leaders think only profits, they generally don’t give importance to corporate social responsibility(when they do I argue that they do it for marketing or promote their company to potential shareholders). Additionally, I may give earthquakes as an example for this in Turkey.

In other words, we saw that some constructors stole materials from their constructions to decrease their costs so that earn more profit, and when earthquake happened many people died because of this reason. Profit vs. quality has been a controversial issue for a long time. In MBA or other business programs, I think historical cases such as 3M, 2001 financial crisis, medical issues should be examined not only with business approach but also with ethical approach in detail.

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