...But no citizen, let alone any corporation, has a moral right to use private wealth to influence public policies, at least not in any country that wishes to call itself democratic. Democracy is about one person-one vote, not one $-one vote...
This study explores how positive (PRMs) and negative role models (NRMs) of business affect students' attitudes, expectations, and behavioural intentions relating to their future business behaviour. A thematic analysis of student reflections (N = 96) based on their experience of material presented in their Business Ethics/Corporate Social Responsibility modules, interpreted through the framework of Ajzen's Theory of Planned Behaviour, revealed that while NRMs led to intentions to avoid unethical behaviour and engage in ethical practices such as ethical purchasing, they also increased cynicism and undermined students' self-efficacy in the ethical business domain. Exposure to PRMs offset the negative consequences arising from NRMs, protecting against reduced self-efficacy by showing that unethical behaviour is neither necessary nor inevitable in business, thus undermining the common justification for unethical behaviour that 'everybody does it'. PRMs increased awareness that business can be both ethical and profitable and provided inspirational role models which led to increased intentions to engage in ethical business practices. With reference to social psychological literature, these results suggest that PRMs are necessary to counter the impression created by NRMs that ethical business is unachievable or unlikely as such beliefs can become self-fulfilling.
Throughout the 1950s, Roosevelt embarked on countless national and international speaking engagements; continued to pen her newspaper column; and made appearances on television and radio broadcasts. She averaged one hundred fifty lectures a year throughout the fifties, many devoted to her activism on behalf of the United Nations.
Roosevelt received thirty-five honorary degrees, thirteen of which were from universities outside the US.
...this year's Wealth-X and UBS Billionaire Census...
The University of Mumbai was ranked 9th on the list, which was topped by the University of Pennsylvania as the school had 25 billionaire undergraduate alumni.
The University of Mumbai has more number of billionaire alumni than MIT, NYU, University of Columbia and Duke University.
Harvard University was ranked second on the list with 22 billionaire undergraduate alumni followed by Yale University (20) in the third position. The University of Southern California, with 16 billionaire undergraduate alumni, and Princeton University, with 14, make the top five.
Sixteen out of the top 20 billionaire schools are in the United States.
It turns out that, back in 2009, the Fed had commissioned Columbia Business School Professor and former banker David Beim to conduct a study to get to the bottom of the agency’s failure to regulate the banks and prevent the financial collapse of 2008.
What did Beim discover? Were the economics too sophisticated to understand? The markets too complicated? No.
As it turns out, the regulatory failure was in fact due to a lack of psychological safety that would have allowed Fed employees to share their observations and concerns.
Building Block 1: A supportive learning environment.
An environment that supports learning has four distinguishing characteristics.
To learn, employees cannot fear being belittled or marginalized when they disagree with peers or authority figures, ask naive questions, own up to mistakes, or present a minority viewpoint. Instead, they must be comfortable expressing their thoughts about the work at hand.
Opinion: The importance of acting now cannot be overstated: every euro spent on fossil fuels today condemns parts of the world to hurricanes, drought and infectious diseases
The meeting of the European Council – the gathering of the EU member states – in Brussels on Thursday and Friday will lead to a decision that will have far-reaching consequences. The summit is expected to see the adoption of a new framework for Europe’s climate and energy policy, including a set of targets for 2030 to cut our greenhouse gas emissions, boost renewable energy use and reduce overall energy use. These pledges matter, for Europe and the international community.
Mary Robinson, former president of Ireland, is the United Nations secretary-general’s special envoy on climate change and a member of the European Climate Foundation’s advisory board
Business education needs to be more integrated, more interdisciplinary and more oriented towards thinking about the bigger “system-level” picture. A second order level of thinking is required. Moving beyond the direct relationship between action and value, business schools must offer education that addresses the complex systemic challenges we are all facing.
New organisational forms have evolved in Europe. My own organisation, Climate-KIC, is Europe’s largest public-private partnership with more than 230 partners drawn from prestigious universities, research institutions, blue-chips and SMEs. The EU created the KICs to address the innovation challenge of Europe and make existing models obsolete. These organisations are creating new knowledge and will be a stimulus for business schools to evolve and change.
Lou Gerstner will always be known as the man who saved IBM after resuscitating, then reinvigorating, the near bankrupt company when he took over as chairman and CEO in 1993. Gerstner’s career, though, spanned 43 years which also included more than a decade at McKinsey, senior positions at American Express, and four years as chairman and CEO of RJR Nabisco. Since stepping down from IBM in 2002 he has continued to lead an active “portfolio” life in education, healthcare, and private equity. In this conversation with former McKinsey managing director Ian Davis, he reflects on the DNA of companies that keep on creating value.
The Quarterly: How do you think about corporate longevity? Does it help executives if their companies explicitly aim to be around a long time, by which I mean a generation or more?