My artifacts demonstrating this outcome
My Reflection on meeting this outcome
The first artifact presented demonstrates my understanding of key concepts related to ethics and the global marketplace. This project focused specifically on the issue of greed and the role that it played in the two of the most significant financial crises of the last century, the collapse of Enron and the financial crisis sparked by the sub-prime mortgage meltdown. The thesis of this paper was that the leadership of both Enron and the key financial institutions behind the sub-prime mortgage disaster were operating from an ethical framework of consequentialism, essentially behaving as if their personal wealth and corporate financial results outweighed any legal or ethical boundaries set before them.
The second artifact presented is a critique of an article that discussed a study of the prevailing attitudes of business students around the world with regard to unethical behavior. One of the key findings of this study was that in certain cultures, including cultures where governmental and corporate corruption was more prevalent, students had an increased tolerance for unethical behavior when it resulted in personal gain. The implication here is that the cultural values of a society can create an environment that fosters future leaders that place a low value on ethical behavior.“The sub-prime mortgage crisis is a classic case of corporations and individuals operating from a consequentialistic point of view. From the observers point of view, the greed and dishonesty at the root of this crisis is staggering. People with years of banking and financial experience ignored their better instincts and were blinded by their desire for profits. There was no regard paid to those who would be left holding the bag when the inevitable crash occurred. There was no concern for the lives that would be destroyed. An entire industry essentially ignored its fiduciary duty, and perhaps worse, it’s humanity, all in the name of profit. The banking industry became (or perhaps was revealed as) a mindless, relentless money-sucking machine that very nearly destroyed an entire global economy (Crafton, 2010).”
The final artifact is my team project from the Strategic Management course. In this project, the team was responsible for managing a growing shoe company through a period of years. One of the priorities for my team was to ensure that our company placed a high premium on ethics and social responsibility. For my team, this meant ensuring that all of our employees underwent ethics training, that we were environmentally responsible and that our employees were treated well in all of our global operations. For our efforts, we were given the corporate citizenship award 3 out of the 4 years it was awarded during the simulation. This was reflective of the teams belief that ethical behavior should be paramount when making operational decisions even if that comes at a higher cost financially.“The findings of this study seem to bear out what many would likely say is plain old common sense: corruption breeds corruption. Environmental, cultural and social factors are key in developing a personal worldview and moral center. In societies where corruption is accepted or promoted, it is only natural to expect that those types of attitudes would be prevalent in the attitudes and behaviors of the people. If anything, this study illustrates the need for business ethics to continue as a key component in the education of tomorrow’s corporate citizens (Crafton, 2010)”
My Future Learning Goals related to this outcome
I found the course material and the discussions related to ethics and legal concerns to be extraordinarily compelling and very valuable. In contrast to some topics that may be a bit more abstract, the legal and ethical implications of conducting business in a global marketplace are broadly relevant in the day to day responsibilities of my job. I work for a large, multinational corporation and I interact with people around the world on a daily basis. Understanding the nuances of culture and the ways that can affect how people work and the decisions that they make is critically important. The over-arching theme that I found in my coursework, however is that regardless of culture, a prevailing global ethic must be established in order for a global marketplace to operate effectively. As I take the concepts that were presented in this MBA program with me in my career I believe it is important that I always be vigilant for areas of ethical concern. This is one area that I must always continue to develop and be open to future learning. There are a multitude of scenarios that I could find myself in that would require me to recall the key concepts presented here and apply them effectively to protect both myself and my company.
I found the course material and the discussions related to ethics and legal concerns to be extraordinarily compelling and very valuable. In contrast to some topics that may be a bit more abstract, the legal and ethical implications of conducting business in a global marketplace are broadly relevant in the day to day responsibilities of my job. I work for a large, multinational corporation and I interact with people around the world on a daily basis. Understanding the nuances of culture and the ways that can affect how people work and the decisions that they make is critically important. The over-arching theme that I found in my coursework, however is that regardless of culture, a prevailing global ethic must be established in order for a global marketplace to operate effectively. As I take the concepts that were presented in this MBA program with me in my career I believe it is important that I always be vigilant for areas of ethical concern. This is one area that I must always continue to develop and be open to future learning. There are a multitude of scenarios that I could find myself in that would require me to recall the key concepts presented here and apply them effectively to protect both myself and my company.