Business school focuses on ethics
By HENRI CAPIN GALLY SANTOS
News Writer
As the business world "moves toward territories with no blue prints," the application of ethics to the business world becomes more and more significant, said Carolyn Woo, dean of the College of Business.
According to Woo, an education focusing on business studies prepares students well and increments their opportunities for success. Nonetheless, she disagrees with the claim that a business school, particularly at the graduate level, should focus solely on increasing the students' earning potential.
"Money and success are not the ends in themselves. They should be used for purposes such as human development or improving the quality of life," said Woo. "Education does not do its job if it does not expand the capacity for idealism. If we reduce the capacity to be idealists, then we have gone in the wrong direction."
Aiming to provide its students with a well-rounded education, the College of Business has become a hallmark in the study of ethics, one of the most important issues in today's business world according to a recent survey.
"Eighty-three percent of the people [surveyed] said that they had encountered an ethical development issue [during] their careers," said Woo.
One of the most important learning objectives of the ethics curriculum is called "ethical analysis." It focuses on analyzing different options when faced with a moral dilemma.
However, ethical dilemmas are not the only cause propelling emphasis on the study of ethics.
It serves as a guide for people who "want more from their job than money and need to belong to something inherently good," said Woo.
To be known as an ethics center does not tarnish the reputation of the school. Instead, Notre Dame's business school is benefiting from this reputation.
"Various … recruiters value integrity and trustworthiness over any other characteristics," said Woo.
Citing several renowned economists, Woo said that simply assigning a monetary value to business practices is considered insufficient and should be complemented with social factors.
"We are ahead of our time by incorporating this new dimension, [the study of ethics]," said Woo.
To conclude her speech, Woo evaluated the progress made in achieving this goal in the College of Business. Regarding the issue of whether the College of Business was causing an impact in the academic world, she said, "We have not caused much of a ripple."
In order for the College of Business to achieve its goals, diverse challenges must be faced. The school does seem to be headed in the right direction, Woo said, "In solving this challenges I would give myself a grade somewhere between B-plus and a D-plus."
All News Stories for Thursday, February 17, 2000
