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Recession inspires business administration degree programs to focus on ethics

Recession inspires business administration degree programs to focus on ethics

Thursday, Aug, 16, 2018 08:23PM

In light of the recent economic collapse, many campus-based and online schools are working to ensure that business professionals are able to make ethical decisions in their work.

Many financial analysts are blaming business school curricula for a great deal of economic turbulence, according to U.S. News and World Report. Critics say that many programs focus on short-term profit rather than long-term consequences, which has led many students to forego their values.

"At some schools, you could be laughed at for raising ethical issues in a finance class," Tim Fort, a business ethics professor at a Washington-based university, told the news source.

"I don't think that's the case anymore," he added.

As a result, many schools are reevaluating their courses in order to place emphasis on ethics. These efforts may include adding classes that focus on ethically ambiguous situations or integrating ethical solutions to typical problems in the workplace.

Individuals who are able to conduct business ethically could see improved job prospects as more companies work to refine their image.

Payscale.com, a research company, says that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

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