It’s good to see a renewed emphasis on ethics in UK business schools. But what about here in the US? Read the article here.
As the bodies responsible for teaching so many of the “masters of the universe” who did so much to cause last year’s economic meltdown, it is perhaps not surprising that business schools have spent the past year doing some serious soul-searching about their culpability for the recession.
Go back to the 1980s and 1990s, when many of today’s corporate leaders were studying for their MBAs, and business ethics and sustainability – in other words, issues around corporate governance, social responsibility and long-term decision-making – played little part in business school curricula.
Pre-credit crunch, the need for MBAs to be “ethical” as well as show you how to fast-track your career and make a load of cash was not that high on the agenda, concedes Mark Stoddard, accreditation projects manager of the Association of MBAs (Amba).
“Schools have recognised there have been gaps and they have needed to make changes in the way MBAs are taught,” he says. “Three to four years ago you might have got students complaining about having to take ethics courses. You don’t now.”