Were the problems that led to the financial crisis of 2008 purely financial issues, or ethical issues? Consider, for instance, the practice of selling a product to someone that you know can’t afford it. Or consider lending someone money that you know they won’t be able to repay. Who is ultimately responsible for such practices, often referred to as “predatory lending”?
Andrew Likierman, dean of the London Business School, says that these are simply examples of questions that anyone going to business school, or starting a business of their own, will inevitably face. And some ethical training is required of us all in order to be prepared for the world of business, which can often be an ethical minefield.
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After all, you might think you have the best moral and ethical compass in the world, but what if the organization you work for does not? How do you contend with the inevitable conflicts that will result?