According to Wikipedia, ethics (also known as moral philosophy) is a branch of philosophy which seeks to address questions about morality; that is, about concepts such as good and bad, right and wrong, justice, and virtue. An MBA is defined as a Masters of Business Administration degree earned from an accredited university. Concepts such as management and finance are taught. According to professors in MBA programs, ethics courses have been taught to students for over thirty years. Business and ethics do mix. Why, then, does the media perpetuate the string of business leaders who either took a bonus after being bailed out by the government or were arrested for swindling investors? How can current and prospective MBA candidates learn from the “greed” of corporate executives?
The media are the watchdogs for taxpayers and like nothing better than to sensationalize a story about a corporate leader breaking the law. Sometimes, they will highlight the road to success for business people and then pounce on their fall from glory. Sadly, many of the fallen leaders attended and earned degrees from top MBA schools, pushing many pundits to ask “what are institutions of higher learning doing to avoid this behavior for future business executives?” Unfortunately, the media does not highlight stories which MBA executives are doing for the greater good, and there are quite a few out there. Sensationalism sells. Good deeds do not (most of the time).
The “green” environmental and non-profit movement has been gaining steam over the last few years. Interested business students are now able to take courses in sustainability or non-profit management. The hope is that these students can be the trailblazers in their respective fields upon graduation. Last year, for example, I advised a student who was interested in pursuing an environmental and business path. She was accepted and enrolled at the Columbia University master’s degree in Sustainable Development. The accelerated program is just the start, though. She wants to pursue an MBA immediately thereafter, and thinks that both the degrees will be the ticket to her career interests and goals. Additionally, some MBA students are inspired to work at the non-profit level, despite investing the time and money into a traditional MBA program. That’s fine too. Although the non-profit career route may not be as lucrative as a for-profit position over a lifetime, it can be rewarding in other ways. Plus, senior level managers at non-profits can earn over six figures.
These days, the message from the media is that corporate America is evil and unjust. The reality is that many corporate leaders and managers are not. With the right training, education, and ethical standards, MBA students and alumni are the future of business, environmental, and not-for-profit ideas and stability. If you have the desire, guidance, and creativity, anything is possible in a free enterprise system. Of course, you have to play by the rules!
Liam Dunfey is an educational consultant with over ten years of higher education experience. He takes pride in helping young professionals advance their careers through graduate school. He co-created University Advisors Admission Specialists, LLC in 2007. He resides in San Diego, CA. Liam can be reached via email at ldunfey@mba365.com
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