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Learning about business ethics is an important part of a business education, Business Ethics Society members say

Photo of Business Ethics Society Students and Advisor Greg Young. April 4, 2008 - “If we value virtue over profit, we can manage to have both.”

That’s the ‘front and center’ phrase in a brochure that presents an overview of The Business Ethics Society (BES) based at NC State’s College of Management. It was coined by Greg Young, associate professor of management, innovation and entrepreneurship and faculty advisor for the student group [right in photo].

Back in 2004, the first-year members of BES worked with Young to design what is now the Ethics Management (BUS 495) class that he teaches. The class was developed in response to a need for students to develop the ethics management skills required in the post-Enron business environment.

The college's annual Business Ethics Case Competition, which is held each spring, is the student group's primary service activity.

The students had gathered at Nelson Hall over pizza on April 3 to iron out some of the details for the competition and future plans for the club as well. They also were discussing plans for developing additional activities to engage students from across NC State. Students interested in learning more about the Business Ethics Society or wanting to offer programming suggestions are encouraged to contact BES President Somer Hall.

About the Business Ethics Competition

Student teams planning to enter the competition this year are researching, writing and presenting their business cases to a panel of judges on the topic: ‘Ethics of Sub-prime Lending.’

Entries for the competition must be submitted to Greg Young, faculty advisor, by 11:59 p.m. on April 15. Finalists will be announced April 17, and they will present to a panel of judges on April 22. At stake is over $1,700 in prize money, to be distributed among the top three teams: first place, $1,000; second, $500; third, $250. [Read details and guidelines - PowerPoint.]

While the prize money is definitely a meaningful incentive, Young stressed the opportunity that the competition and its concluding networking event offers in terms of career connections. “You will have the opportunity to meet people that you can call on later in your career when you are faced with an ethics-related question and need to talk with someone about it,” he told officers and other members of the club at their meeting.

The energy level was pretty strong – not only because the prize money got bumped up from previous years, thanks to the generous support of the BB&T Leadership Development Fund, but also because of the people who have been invited to attend the networking event that follows the judging and awards program.

Among those are members of the College of Management’s Board of Advisors, as well as BES alumni. “This will be a great opportunity to network and talk about employment opportunities as well," he said, and encouraged the students to bring their resumes.

Afterwards, in an email interview, several of the students commented about ethics as part of a business school’s curriculum and in today’s business environment, the Business Ethics class itself, and their career plans.

BES members' comments

Somer Hall
Junior in business management with a concentration in finance, and president of the Business Ethics Society [photo below]

Sophomore year, I watched the documentary “Life and Debt” about the unfairness of “free trade” and how it has hurt Jamaica. From that moment, I knew Business Ethics was something I wanted to learn more and do more about. So when the opportunity presented itself in class I jumped at the chance. What I love about the class is that it’s teaching not what is right or wrong is, but how to decide what is right and what is wrong.

Ethics and business go hand in hand. I think it’s important for corporations to make ethical and moral decisions that don’t just take profits and loses into account. Corporations are as powerful (if not more) than the political leaders of our world. They have a huge influence. It is important to teach ethics in the College of Management so the students - the CEOs of tomorrow – understand how to make decisions involving ethical dilemmas.

Ben Henry
Senior in business management, with concentrations in finance and accounting:

After taking Dr. Young’s class, I have realized how crucial ethics is to the corporate world. The class encourages us to research modern ethical issues that companies are dealing with now, not just textbook theories. I would argue that BUS 495B [the Business Ethics course] be required. I have probably learned/gained more from this class than most others.

Steven Blumberg
Senior in business management, with a concentration in marketing and a minor in science technology and society

Speaking about his career goals, he said:

I am actively looking for jobs in marketing strategy, consulting, and analyst positions. I enjoy working with technology and the community, and am excited about integrating sustainability, green technologies, design creativity to create solutions for troubled communities. I have myriad entrepreneurial ideas that I hope I will be allowed to pursue sometime soon.”

About business ethics specifically, he said:

After the first day of Young's class I knew I was in for an special semester. His style of teaching combined with the content of the class really got me excited about ethical issues in business, issues I had never been familiar with or encountered in the past.

These issues are not distant, they are being faced everyday by thousands of people around the world. Globalization combined with the speed and connectivity of the world today have created a situation where tons of decisions have to be made at an ever increasing rate. These decisions and interactions occur between business's in a wide variety of countries, many of whom have no enforceable laws or principles of acceptable business behavior. This causes lots and lots of issues by creating a large "gray
are" for the decision makers(managers). We as students have the responsibility and duty to usher in this new era of enlightened ethical management.

Jeff Kennedy
Senior in business management with a concentration in marketing and plans for continuing his education with an MBA

I chose to become an active member in the Business Ethics Society because I feel that ethics is becoming more important by the day in business. Corruption seems to almost be a day to day in business these
days and I feel that we need to put a stop to it. I have learned a great deal about ethics in the workplace from taking the class and conversations among the BES (members).

I certainly feel that the business ethics class should be required for all students within the College of Management. It would certainly benefit others to see how concepts are applied in actual situations.

Details about the Fourth Annual Business Ethics Competiton are available online.