Emphasis on Ethics Schools want students to recognize that profits aren’t everything

Beth Gardiner:

The study of ethics, once an academic orphan, is grabbing a more central role at many business schools since the financial crisis shone a spotlight on the damage that can be done by irresponsible business practices and an exclusive focus on the bottom line.
Critics have suggested that B-schools bear some responsibility for the culture of excessive risk-taking that helped trigger the credit crunch, saying they failed to teach students that there is more to business than just making money. Many schools have responded by re-examining their priorities, and giving ethics more classroom time, either in modules of its own or incorporated into key classes like strategy, finance and accounting.
Faculty are defining the subject broadly, arguing that ethical business practice is not just about refraining from cheating and corruption, but recognizing that a company has responsibilities beyond its shareholders’ wallets–to employees, community, customers and the environment.