Greetings to our Micah/WBC associates,
Thanksgiving greetings to everyone! May this season of gratitude and preparation for the nativity of the Lord be blessed for all!
John Fontana has selected three excellent articles this month. One is a commentary by David Steingard, the Acting Director of the Pedro Arrupe Center for Business Ethics at St. Joseph's University, another is a report on a study done by academics from national and international schools; this piece was written by Gretchen Morgenson, a longtime financial reporter for the New York Times.
Steingard's article presents the impact of corporate scandals (such as Volkswagen's emissions cheating) on stakeholders. He argues that companies need to reconnect with the true corporate purpose that legal charters demand.
Morgenson summarizes conclusions of a 12 year study that examined accounting restatements by thousands of corporations. The primary conclusion is fascinating, but the exceptions are equally intriguing.
From my perspective Seton Hall has a responsibility to develop leaders with values that do not tolerate patterns of bad behavior by businesses. Discussions, which evolve from the study of articles like these, are a way to prepare students for the difficult ethical challenges that will be encountered in corporate life.
If you wish, send us your thoughts about this month's material, your personal experiences, or your perspective about our role helping students get ready for the corporate world.