Reframing the Purpose of Business Education: Crowding-in a Culture of Moral Self-Awareness

Abstract

Numerous high-profile ethics scandals, rising inequality, and the detrimental effects of climate change dramatically underscore the need for business schools to instill a commitment to social purpose in their students. At the same time, the rising financial burden of education, increasing competition in the education space, and overreliance on graduates’ financial success as the accepted metric of quality have reinforced an instrumentalist climate. These conflicting aims between social and financial purpose have created an existential crisis for business education. To resolve this impasse, we draw on the concept of moral self-awareness to offer a system-theoretical strategy for crowding-in a culture of ethics within business schools. We argue that to do so, business schools will need to (1) reframe the purpose of business, (2) reframe the meaning of professional success, and (3) reframe the ethos of business education itself.

Business Education: Filling the Gaps in the Leader’s Awareness Concerning Organizational Phronesis

“…Business education needs transformational reexamination [1,2,16]. There is an existential crisis in business education driven by the conflict between social and financial aims [17]. The context of organizational scandals, inequality in society, and climate change requires dedication to social causes [2,17].…”

“…There is an existential crisis in business education driven by the conflict between social and financial aims [17]. The context of organizational scandals, inequality in society, and climate change requires dedication to social causes [2,17]. The financial burden of education and high competition in education leads to the search for financial success [17].…”

“…The context of organizational scandals, inequality in society, and climate change requires dedication to social causes [2,17]. The financial burden of education and high competition in education leads to the search for financial success [17]. Business education is part of the system and should contribute to companies with conscious and active members generating social value and sustainable performance [2,18].…”

“…Business education is part of the system and should contribute to companies with conscious and active members generating social value and sustainable performance [2,18]. Business schools should have social good at the core of their mission [17]. The business curriculum shift should be extensive, as the current curriculum does not meet organizations' and society's needs [1][2][3][4].…”

“…Each business school will have a transformational path [2]. It is necessary to reframe business education's purpose and values, redefining the meaning of professional success [17]. Our suggestions aim to place philosophy as the basis of business education [22] to improve students learning and embodiment of phronesis [21] by offering them an active role in value-based education [16,25] and addressing job market needs [7].…”