Posted by on August 1, 2012
Smart leaders are not impervious to making poor ethical business decisions. We have seen this a great deal in recent years. How does it happen and why? Everyone makes mistakes, but when your mistakes cost people their livelihood, thinking things through and ?Finding Your Moral Compass? is a key concept in teaching today?s online business degree programs.
Cardinal Stritch University Dean Presents Reasons Behind Poor Ethics in Business at Tiffin University
This was the topic at Tiffin University?s Good Morning World breakfast lecture in April. Peter Holbrook, Dean of the College of Business and Management at Cardinal Stritch University, presented theories, knowledge and research examples that he complied for In the Blink of an Eye: Why Leaders Make Foolish Ethical Choices and What We Learn From Them.
?We teach students the knowledge of hard sciences, but we must also teach them wisdom of how to apply that knowledge,? says Holbrook.
According to a TU press release, Dean Holbrook cited many leaders from Bernie Madoff of NASDAQ to Patricia Dunn of Hewlett-Packard to Jeff Skilling of Enron. He categorized unethical decisions into several fallacies including the ?omniscience fallacy?, when people believe they are all-knowing and lose sight of their own limitations and the ?sunk-cost? fallacy, when people realize they?re making mistakes but continue because they feel they?ve invested too much time, effort or money.
?Part of wisdom is knowing your own limitations,? said Holbrook. He advised, when in doubt, think about if you could rationalize your decisions to the news or to your own mother. ?Keep in mind that it?s never all about you. It?s also about your clients and the people who work for your company.?
Michael Grandillo, TU?s vice president for development and public affairs, brought in Dean Holbrook as part of a grant TU received from National Automobile Dealers Association to present a program about business ethics. With expertise in Franciscan, servant and transformational leadership, board development, organizational leadership and change, Dean Holbrook researches, writes and speaks about leadership.
Source: You & TU: Finding Your Moral Compass, April 20, 2012
Source: Cardinal Stritch U dean to explain ethics, The Advertiser-Tribune.com, April 11, 2012
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