Bernie Madoff. AIG. Allen Stanford. When Marianne Jennings talks to her undergraduate students about business ethics these days, those are the subjects they want to talk about.
Not surprisingly, Jennings says, the students often take a somewhat black-and-white view of things: Madoff was a crook; Stanford was a swindler; those execs at AIG were reckless, irresponsible, and had absolutely no right to take those big bonuses -- not after the carnage they caused. Blame it on the executives, the students say. It's the guys in the executive suite who can't be trusted.
Not so fast, says Jennings.
"They're really quite jaded because they've seen so much," she says. "They believe everyone in business is corrupt. They think that's the way they'll have to behave to get theirs, and they do seem to seize on things like executive compensation. But that's a risky and narrow focus when there's so much more that they have to consider.
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