The importance of financial advice for individuals is difficult to refute, however the degree to which the financial planning industry has been able to provide this to date is in debate. As a result, the industry, which is still in its infancy, has been subject to rapid growth, various controversies and regulatory intervention. The Global Financial Crisis (GFC) has contributed to the pace of this change with increased client, regulatory and self scrutiny as a result of the heightened dissatisfaction with advice outcomes. The coalescence of these factors has led to significant internal and external changes within the industry, resulting in the apparent commitment to becoming a profession. This paper will examine the implication of this agenda for tertiary education in relation to the role it could play to support the development of the financial planning profession. The paper achieves this by (1) reviewing the background to the financial planning industry and the move towards professionalism; (2) discussing current developments in the industry; (3) establishing the role of tertiary education and (4) assessing the role that tertiary education has played in supporting the financial planning sector. We argue that tertiary education has a critical role to play, however it is yet to achieve this. This study will be useful for those in both the managerial and operational/ academic elements of tertiary education in terms of providing considered avenues for engagement in this discipline. Indeed, if the paper provokes debate and discussion in tertiary education around the nation then we would consider our task complete.

The importance of financial advice for individuals is difficult to refute, however the degree to which the financial planning industry has been able to provide this to date is in debate. As a result, the industry, which is still in its infancy, has been subject to rapid growth, various controversies and regulatory intervention. The Global Financial Crisis (GFC) has contributed to the pace of this change with increased client, regulatory and self scrutiny as a result of the heightened dissatisfaction with advice outcomes. The coalescence of these factors has led to significant internal and external changes within the industry, resulting in the apparent commitment to becoming a profession. This paper will examine the implication of this agenda for tertiary education in relation to the role it could play to support the development of the financial planning profession. The paper achieves this by (1) reviewing the background to the financial planning industry and the move towards professionalism; (2) discussing current developments in the industry; (3) establishing the role of tertiary education and (4) assessing the role that tertiary education has played in supporting the financial planning sector. We argue that tertiary education has a critical role to play, however it is yet to achieve this. This study will be useful for those in both the managerial and operational/ academic elements of tertiary education in terms of providing considered avenues for engagement in this discipline. Indeed, if the paper provokes debate and discussion in tertiary education around the nation then we would consider our task complete.

Academic dishonesty and cheating by students has become endemic in higher education. In this article, we conducted a study on undergraduate business students (n = 162) to examine the impact of business ethics education and ethics training on student attitudes towards academic dishonesty as well as their cheating behaviors. We found that business ethics education in conjunction with business ethics training had a positive impact on students’ attitudes towardsacademic dishonesty and cheating; however there was no significant impact of either business ethics education or training on actual cheating behaviors. In our discussion we suggest some implications of our findings, and make some suggestions about future research directions.

We examine the educational benefits of a virtual mentor program used to supplement classroom teaching of ethics, by connecting students with business practitioners through computer-mediated communications. Virtual mentoring can be a valuable and inexpensive way to extend the classroom lectures and discussion with real-world perspectives. In addition, it can serve additional purposes for students, such as learning how to develop a relationship with a mentor, and improving application of ethical concepts in practical situations. Is this potential realistic for business ethics education? Based on a cross-case comparison of several virtual mentoring application and student satisfaction ratings, our findings establish that perspective and confidence increased in students’ transfer of ethical concepts and applying ethical judgment to business situations. Based on these experiences we suggest guidelines to individuals who teach business ethics, regarding the value of using a virtual mentor program, including practical lessons about implementing virtual mentors programs.

This article presents a discussion of the presentation of utilitarianism in textbooks and research articles within the field of business ethics. My objective is twofold. First, I will demonstrate that the presentation of utilitarianism, by a substantial number of prominent business ethicists, is characterized by a lack of precision and includes faulty descriptions. In this regard, I focus on presentations of utilitarianism in relation to distributive principles and on the demanding nature of utilitarianism. Second, I will demonstrate that these imprecise and faulty presentations result in a misguided critique of utilitarianism and dubious conclusions within the field of business ethics. Here, I will discuss and reject conclusions regarding utilitarianism and its relation to capitalism, theclaim that utilitarianism is not much more sophisticated than a simple majority vote and that utilitarianism is in accordance with harmful actions such as bribery and child labor.

There are several challenges associated with traditional business ethics education. While case studies have been used extensively in ethics education, such use can be complemented by using Problem Based Learning (PBL). PBL represents a pedagogy employing more collaborative tools that involve students more extensively in the learning process. A well-designed teaching approach based on PBL can have significant positive impact on students’ learning. This paper supplies a representative teaching interaction based on PBL, and discusses the implications of its structure. Introducing PBL is challenging and comes with significant costs as faculty members have to be trained, roles have to be exchanged, powers have to be relinquished, and learning materials have tobe written. We conclude that PBL is suitable for an ethics course as most ethical situations require introspection, reflection, discovery, and concern for other viewpoints, all of which can be facilitated in a PBL environment.

Instructors of business ethics now have a wealth of cases and other pedagogical material to draw on to contribute to achieving ethics learning goals now required at most business schools. However, standard ethics case pedagogy seems to provide more guidance regarding the form and process for getting to a good answer than on the ethical content of the answer itself. Indeed, instructors often withhold their own judgments on what is a good answer so as not to indoctrinate students with the instructor’s views. To answer our question on what is a good answer to an ethical question, we asked three master teachers of business ethics to share their perspectives on a good answer. Their answers revealed stark differences—regarding the starting point of business ethics, the purpose of business, prioritization of analytical disciplines, and research methods—but also a common thread demanding that a good answer articulates a student's own moral voice. Moral voice is a genuine expression of an individual’s considered moral judgment that is reflective of personal values and cognizant of professional expectations. Cultivating the expression of moral voice goes beyond formal and theoretical proficiency to overcome human tendencies toward idealism, insincerity, and rationalization. Moral voice does not by itself fill the gap in business ethics pedagogy on the content of a good answer, but it demands that students support an answer that they can genuinely believe in while encouraging instructors to cultivate in their students sincerity and engagement, conscience, and a sense of self that are indispensable to genuine ethical commitment.

Beginning with the idea that digital storytelling can be a useful tool for moral sensemaking and development for undergraduates, the paper reviews the process of digital storytelling and details how the lead author incorporated a digital storytelling project into a course on leadership ethics. The paper provides a theoretical basis for the project in Gentile’s (2010, 2011) work on Giving Voice to Values, and in perspectives from aesthetics, phenomenology, and personal narrative. This is followed by two autoethnographic narratives of the experience: one from the course designer and professor who discusses his motivation for the project and the moral dilemma he faced in assigning it, and another from one of the students in the class who investigates the challenges she faced in engaging a deeply-felt moral dilemma in a public way. Finally, the paper discusses the implications for this approach with respect to leadership development and research.

The United States Marine Corps (USMC) trains 40,000 recruits in ethical conduct each year. The Marines operate under highly stressful conditions and are perceived as moral exemplars. This study investigates their recruit training practices at Parris Island, SC and suggests applications consistent with ethical and psychological research that offer potential for building ethical corporate cultures and improving ethical behavior. The lessons were: 1) select values that fit the business, 2) use organizational-derived “hero stories”, 3) socialize members with conviction and repetition, 4) utilize line leaders to conduct the training to provide specific guidelines for behavior, 5) closely monitor and reward ethical behavior, 6) add emotional control to the cognitive training, and 7) train with realistic business simulations. The seven lessons from the USMC can help business leaders earn a reputation for trustworthy leadership, a vital corporate asset.

This is written as a dialogue with the central question, “What constitutes the essence of a ‘good’ businessperson?” Written in the form of a Platonic dialogue, this is an imaginary exchange between Socrates and Agoricus, the fictitious son of a well-respected businessperson of Athens at a time of unethical business practice. Various qualities are entertained in terms of defining a successful and good businessperson, including producing quality products at low prices, effectivesales techniques, creativity and innovation, respectful treatment of the customer, business “know-how” (e.g. accounting), contributing to the community welfare, as well as being honest and trustworthy. Eventually the discussion winds its way to a kind of care and concern for customer welfare and satisfaction, leaving the initial question partially answered, while raising another question related to the proper way of teaching business. Connections to classical and contemporary business readings are made throughout the dialogue by the use of footnotes. The dialogue could be used with various graduate and undergraduate audiences, and it can be used in various ways, including class discussion regarding whether business should be conceived as a profession and whether ethical conduct lies at the heart of business. This only adopts the format of a Platonic dialogue for purposes of exploring the question. However, the dialogue does not claim to representthe ideas or position that Socrates or Plato might take on the question at hand.

Concern about high-profile ethical lapses by business managers has led to an increasing emphasis on ethics instruction in business schools. Various pedagogical methods are used to expose business students to real-world ethical dilemmas, yet students may not readily grasp the linkages between ethical theories and dilemmas to identify possible ethical solutions. Venn diagrams are a valuable instructional tool in business ethics classes when used with other teaching methodologies such as case studies. We describe how the use of Venn diagrams assists students in visualizing the key points of and the connections between ethical theories and dilemmas to shed light on possible ethical solutions. Examples of teaching exercises are provided along with ideas for future research in the use of Venn diagrams in activating moral imagination and improving ethical reasoning. Overall, positive student reactions to the introduction of Venn diagrams in business ethics classrooms support the use of this methodology.

The 2008 financial crisis has raised serious ethical questions about behaviors associated with the free market system and the effectiveness of undergraduate business ethics education. We offer opposing interpretations of the crisis, a “Markets Work” and a “Critical” perspective, in order to provide students with an opportunity to examine their ethical assumptions. We frame our discussion around legitimacy; therefore, we utilize an institutional theory lens to frame the processes by which financial organizations are rewarded with social legitimacy for using “proper” structures and following “appropriate” procedures and punished when they do not. By presenting these two opposing narratives of the crisis, we provide a richer framework for discussing the crisis and relating it to the larger issue of corporate malfeasance. We draw upon a wealth of readily available, easily accessible material. We identify films, readings, and provide notes that may use to set the direction and tenor of classroom discussion.

This paper addresses the tactical question of how we ought to proceed in teachingbusiness ethics, taking as a starting point that business ethics should be concerned with cooperative,mutually beneficial outcomes, and in particular with fostering behavior that contributes to thoseoutcomes. This paper suggests that focus on moral reasoning as a tactical outcome—as a way ofachieving behavior in support of cooperative outcomes—is misplaced. Instead, we ought to focuson cultivating empathetic experiences. Intuitively, the problem we need to address in business ethicsis not that our students (and that we ourselves) sometimes reason poorly, or that moral decisionmakingis subject to characteristic kinds of errors. The problem is that our students (and—again—we ourselves) do not always care enough, we do not modify our behavior consistently enough.

The past decade has seen an increasing number of critiques of business schools and the education they provide, particularly at the MBA level. In this paper, we summarize the limitations of a minimalist approach to business ethics education and then provide a new direction that enlarges its scope and reframes its educational goals, course content, and analytical methods to inculcate higher-order aspirations among students. We propose that the outcome of business ethics education should be a desire among students to use business to enhance the well-being of all stakeholders, repair damage done to the economy, society, and the environment, and leave the world better than they found it.

Larry Barnes, Executive Director of the Southwest Missouri Baptist Association (SMBA), received a telephone call that no executive wants to receive. The pastor at Hilltop Baptist Church reported suspicions of embezzlement by the church bookkeeper. Whatever decision Barnes made in advising the pastor would impact Hilltop, the church members, the SMBA, and a number of stakeholders, including himself. His primary duty as Executive Director was to provide guidance and advice to pastors of SMBA churches, help them expand, and assist in establishing new churches. However, did his professional responsibilities encompass this situation? If not, did he have an ethical obligation to help? What if his involvement caused legal and financial problems for the SMBA? What was the likelihood the bookkeeper and her family might sue the SMBA and Barnes? Many Hilltop Church members were personal friends of Barnes. He worried about jeopardizing hisfriendship with them, particularly if the accusations were incorrect. An equally important concern was whether Hilltop Church would continue to exist. Financial problems had plagued the church in recent years and the relationship between the pastor and members was already contentious. An embezzlement scandal could cause the 150 year old church to close its doors. Barnes had to decide whether to get involved and, if so, what to recommend as a course of action to Hilltop’s pastor.

The case recounts the ongoing conflict between Vedanta Alumina and the indigenous people and environmentalists over the mining and refining of aluminium at Niyamgiri in Orissa in India. Vedanta Alumina is a subsidiary of FTSE listed Vedanta Resources Plc. The company acquired a license for mining alumina from the state owned Orissa Mining Corporation and began work on the project that would make it the world’s largest integrated producer of aluminium. Sincethe very beginning, this project has faced stiff resistance from the endangered indigenous tribes of the area and the environmentalists for its adverse impact. The case depicts the several ups and downs of both the company and the resistance movement and the methods employed by each of them during the decade old struggle that has been fought over continents and is now a very charged political issue in India. The case also illustrates how the state and political leadership has, at times supported the indigenous people, and at other times the corporate interests.

We describe the ethical leadership dilemmas confronting Verdant Power. Formed in 2000, this New York City marine renewable energy company develops projects and technology that delivers electricity directly into the local power grid. Set in early 2010, the case outlines the tensions, challenges and costs (both financial and time) that management faces as it attempts to commercialize a technology in an industry with strict and rigid regulatory policies. The key teaching objectives of the case include a) understanding the leadership role that the company must assume in paving the way for regulatory reform for US-based marine renewable technology ventures, and b) appreciating the importance and implications of sustainability given the pursuit of the financial and environmental mission of the founders.