5 ms·
the ethical fix: "The MBA Oath" "Over 10,000 students representing more than 100 schools around the world have taken the MBA Oath, creating a community of MBA
by pella 4y ago
the ethical fix: "The MBA Oath"
"Over 10,000 students representing more than 100 schools around the world have taken the MBA Oath, creating a community of MBAs with a shared standard for ethical and professional behavior.
The MBA Oath aspires to:
- Inspire and support MBAs who commit to creating value responsibly and ethically;
- Challenge all MBAs to work with a higher professional standard, whether or not they sign the MBA Oath;
- Create a public conversation about professionalizing and improving management.
The MBA Oath
As a business leader I recognize my role in society.
My purpose is to lead people and manage resources to create value that no single individual can create alone.
My decisions affect the well-being of individuals inside and outside my enterprise, today and tomorrow. Therefore, I promise that:
-I will manage my enterprise with loyalty and care, and will not advance my personal interests at the expense of my enterprise or society.
-I will understand and uphold, in letter and spirit, the laws and contracts governing my conduct and that of my enterprise.
- I will refrain from corruption, unfair competition, or business practices harmful to society.
- I will protect the human rights and dignity of all people affected by my enterprise, and I will oppose discrimination and exploitation.
- I will protect the right of future generations to advance their standard of living and enjoy a healthy planet.
- I will report the performance and risks of my enterprise accurately and honestly.
- I will invest in developing myself and others, helping the management profession continue to advance and create sustainable and inclusive prosperity.
In exercising my professional duties according to these principles, I recognize that my behavior must set an example of integrity, eliciting trust and esteem from those I serve. I will remain accountable to my peers and to society for my actions and for upholding these standards. This oath I make freely, and upon my honor.
https://mbaoath.org/ https://mbaoath.org/
https://en.wikipedia.org/wiki/MBA_Oath https://en.wikipedia.org/wiki/MBA_Oath
https://hbr.org/2009/06/why-we-created-the-mba-oath https://hbr.org/2009/06/why-we-created-the-mba-oath
debate: https://knowledge.insead.edu/leadership-organisations/why-mbas-should-not-sign-harvard-business-school-oath https://knowledge.insead.edu/leadership-organisations/why-mb...
- hikingsimulator 4y agoOaths are worthless. Better, swifter, and heavier prosecutions and consequences for advisory and finance institutions should be the norm. Kind words don't matter in a world of contracts and legal tenders.
- pella 4y ago> Oaths are worthless. Oaths must be part of the solution - along with many other things. The Hippocratic Oath has an effect and can be applied to other areas. ( like The Iatrogenics of Money ) but the life is more complex; see more: https://www.edge.org/conversation/nassim_nicholas_taleb-ten-principles-for-a-black-swan-robust-world https://www.edge.org/conversation/nassim_nicholas_taleb-ten-... like: "2. No socialisation of losses and privatisation of gains." "4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. Odds are he would cut every corner on safety to show “profits” while claiming to be “conservative”. Bonuses do not accommodate the hidden risks of blow-ups. It is the asymmetry of the bonus system that got us here. No incentives without disincentives: capitalism is about rewards and punishments, not just rewards."
- Aloha 4y agoI think the answer is some sort of licensing body (like the bar for layers), an oath or cannon of conduct are important too, but as a basis to regulate.
- hikingsimulator 4y agoIf the Hippocratic oath had any sort of standing, the US wouldn't have the healthcare system it has, where the first questions often are "are you insured?", "are you in network?", "please insert your credit card here." I am barely caricaturing. Much more heavy-handed actions are needed with swift legal consequences in industries which have such an impact at a financial and legal level.
- pella 4y agoUnfortunately, laws ( e.g. on universal health insurance - similar to the EU ) are made by politicians, not doctors, and they too do not have to follow strict moral ethics. Without hippocratic ethical principles, it could be much worse than it is now.