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Introduction
Each new day brings a unique set of tough choices to make. While for most people these decisions do not produce a large impact, business leaders are able to influence entire populations with their choices. Therefore, it is vital that a leader makes ethically correct decisions. Despite this importance, business schools have neglected the need to teach ethics as part of their curricula. This paper elaborates on the issue and discusses potential ways of solving this problem.
Importance of Ethical Training
A capacity to make ethical decisions is essential in contemporary society. Modern technologies in communications and transportation are allowing people from different cultures and backgrounds to connect with each other (BergerWalliser & Scott, 2018). It means that all individuals should be exposed to the ideas of multicultural perception and tolerance as early as possible. Therefore, ethics should be taught not only in specialized institutions. Secondary school curriculum can be modified to accommodate the subject of ethics. Teaching ethics as a separate discipline may not always be required, however. Research suggests that exposing young individuals to the vocabulary of ethics might be sufficient at an early age (Burroughs & Barkauskas, 2017). In other words, ethical training can and should start from childhood. It will allow individuals to make favorable decisions when communicating in schools and socializing with friends from various socio-cultural backgrounds.
The business landscape is shaping as well most companies serve international markets and work with foreign enterprises. Teams are no longer static and can be dispersed across different continents. Therefore, it is imperative for both individuals and companies to be able to make ethical decisions that consider cultural and social circumstances. Knowledge and training in ethics allow an individual to holistically view a problem and think of a solution that takes a multi-perspective approach. Ethics is also critical because of rising societal concerns regarding environmental issues. Combined with other social values, these expectations formed the concept of corporate social responsibility, which is self-regulation in businesses. However, companies are comprised of individuals, and to be able to self-regulate effectively, these people should possess ethical decision-making skills (BergerWalliser & Scott, 2018). This necessity elevates the importance of business schools in providing ethical training.
Role of Business Schools
The modern world is heavily reliant on the stable functioning of financial institutions and other private and public companies. They provide individuals with an opportunity to work and earn a living, and tools for adequately managing their financial resources. Business schools are essential in training and producing a workforce that is capable of maintaining and improving these vital industries. In this context, instrumental skills are critical, and most business schools are focused on teaching students these crafts. However, because contemporary companies are expected to fulfill their social and environmental responsibilities, it is essential that there are managers and executives that are capable of making ethical decisions. The role of business schools is critical in delivering ethical training because they are the ones defining the business education curriculum.
Current Shortcomings
Despite the importance of ethical training in the contemporary business landscape, business schools have neglected the need to teach their students value-based leadership. Podolny (2009) believes that business schools have become too preoccupied with delivering training on instrumental skills. News of scandals involving their graduates do not make any impact and do not result in any change (Podolny, 2009). For instance, Enrons collapse due to unethical accounting principles should have served as the foundation for radical changes in the business school curriculum (Podolny, 2009). However, more and more scandals are taking place, showing the magnitude of neglect on behalf of institutions that offer an MBA.
The reason why this problem exists, however, is more complex than a mere unwillingness to integrate ethical education into the curriculum. Podolny (2009) states that the current system of ranking business schools is broken. Three primary elements that comprise the rank of a school are the starting salary of graduates, average salary, and the average number of offers that a fresh graduate receives (Podolny, 2009). There is no item that states that a business school will rank higher if graduates engage in charitable activities or make decisions that produce favorable outcomes for communities. Therefore, schools concentrate on short-term drivers that help graduates increase their salaries. Making profit becomes the sole goal of an individual, and whenever social values intersect with this goal, the desire for a salary increase or gain will precede.
The consequences of the absence of ethics and moral values in the curriculum are frightening. Podolny (2009) shares the story of an in-person survey among business school students. The results were shocking most individuals believed that a majority dictates what is right and what is wrong (Podolny, 2009). For instance, if a hundred people believe that deforesting an area to build a shopping venue is right, then it is morally right indeed. Such a decision-making approach by a manager may cause great harm to society, the environment, and to a company itself.
Potential Solutions
The problem can be solved by taking a holistic approach and addressing all aspects of the issue. Podolny (2009) suggests several potential ways of tackling the dilemma. According to him, business schools first need to demonstrate their willingness to value what the rest of the society holds. They need to show that ethics, morality, and righteousness are critical components of leadership. Podolny (2009) states that most business schools put greater emphasis on leadership rewards. Instead, schools should start teaching students about leadership responsibilities.
Ethical training adds soft skills to the technical knowledge of a student. Soft skills, however, should not be isolated from professional expertise. Therefore, Podolny (2009) suggests that courses in business schools should be developed by a team of academics from different subject matters. For instance, an economist and an expert in intercultural communication may come together to devise a course. This approach would ensure that classes are designed holistically and do not cover topics in isolation.
Business schools focus too much on rankings because such data can be used when advertising and competing for prospective students. Podolny (2009) believes that the emphasis on rankings can be eliminated by restricting the usage of ranking information for marketing purposes. This constraint would demotivate business schools from investing too much into short-term performance drivers (Podolny, 2009). As an alternative way, delegitimizing current ranking systems and developing new criteria that are based on the presence and quality of ethical training can be considered.
Individuals involved in business scandals should not be deprived of attention. Podolny (2009) suggests that graduates accused and found guilty of misconduct should lose their degrees. This approach will serve as an additional incentive for business school graduates to make ethical decisions. It will also contribute to the publics trust in business schools. While the mentioned solutions emphasize the need to deliver ethical training, it is vital to understand how to teach ethics to individuals from varying backgrounds.
Teaching Ethics
Providing ethical training is essential, but educating students to make ethical decisions is challenging. It is significant to understand that telling the truth is not always the right choice. In certain circumstances, lying can be considered an ethical decision. Therefore, when teaching ethics in business schools, academics may not rely on a single universal truth because all ethical dilemmas are different. LaFollette (2020) states that it is critical to decompose a moral issue into its details and underlying values. Carefully examining the values and how each possible decision may impact their outcomes may provide a hint at what choice is ethically correct. This principle is analogous to Podolnys view of leadership responsibility. Therefore, teaching students to examine the potential consequences of each choice is a foundational aspect of ethical training.
Conclusion
It is crucial for prospective leaders to learn about responsibility and ethics. Incorporating these subjects into the curriculum of business schools would decrease the number of cases of corporate misconduct. However, motivated by the desire to score high in MBA program rankings, business schools have focused only on instrumental skills. While this approach increases a graduates chances to compete for the highest-paying jobs, it has a deteriorating effect on society. Teaching ethics is complicated, but with these skills comes a sense of responsibility. Therefore, ethical training must be present in all business schools.
References
BergerWalliser, G., & Scott, I. (2018). Redefining corporate social responsibility in an era of globalization and regulatory hardening. American Business Law Journal, 55(1), 167-218.
Burroughs, M. D., & Barkauskas, N. J. (2017). Educating the whole child: Social-emotional learning and ethics education. Ethics and Education, 12(2), 218-232.
LaFollette, H. (Ed.). (2020). Ethics in practice: an anthology. John Wiley & Sons.
Podolny, J. (2009). The buck stops (and starts) at business school. Harvard Business Review. Web.
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