This is a test of the AACSB IT Web Team.
About two-thirds of adults say that medical doctors (67 percent), scientists (65 percent), and engineers (63 percent) contribute a lot to society. That is according to a 2013 Pew Research Study of U.S. adults, which concludes that negative perceptions of these occupations, as with the military and teachers, are rare. But the balance of perceptions becomes more negative toward the bottom of the list, with a quarter or more of respondents expressing the view that journalists (27 percent), business executives (28 percent), and lawyers (34 percent) contribute not very much to society.
Just as better management practices can create incredible value for society, ineffective management can have a devastating impact on firm performance and make thousands or, potentially, millions of people worse off. There are many reasons that companies do not succeed, but when illegal or unethical behavior is one of them, the failures draw international attention. Spectacular scandals at Enron, Satyam, and Parmalat, as well as the financial collapse brought on by the housing bubble and previous industry-wide crises, have done significant damage to the reputation of management in the eyes of the public.
These failures have raised serious questions about our fundamental policies, institutions, and beliefs about business and management. In From Challenge to Change: Business Schools in the Wake of Financial Crisis, the Global Foundation for Management Education (GFME), a joint venture between EFMD and AACSB, observes, “There are calls for more responsibility amongst business practitioners; calls for greater attention to sustainability and long-term thinking; calls for managers to rediscover an ethical and moral compass; to look differently and more deeply at risk and reward.” More recent attention to rising inequality has also contributed to distrust of executive-level management.
From the string of crises spanning decades, efforts have emerged to rethink the purpose, as well as the structure, of corporations, leading to changing views about the roles and responsibilities of their managers. For example, the United Nations Global Compact 2014 LEAD Symposium considered how the future corporation will “[be] governed, create value and manage its impact on society”, and the Aspen Institute’s Business and Society Program has been conducting a “series of off-the-record and public dialogues among scholars, business leaders, and investors to explore this divergence and broaden thinking about the corporate objective function beyond shareholder wealth maximization.”
Managers not MBAs, MIT Video
Henry Mintzberg believes that both management and management education are deeply troubled, but that neither can be changed without changing the other.
From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession
Rakesh Khurana states a belief that business leaders are among the least trusted members of society.
Public Esteem for Military Still High
Public views of medical doctors, scientists and engineers are largely positive, with roughly six-in-ten to two-thirds of U.S. adults saying each group contributes a lot to society, according to research done by the Pew Research Center.
From Challenge to Change: Business Schools in the Wake of Financial Crisis
This is a collection of papers that bring together deans and directors, as well as the directors and presidents of business school accreditation bodies, under the leadership of the Global Foundation for Management Education, to be the beginning of a repository of both philosophical reflections and actionable changes.
Business and Society Program
The Aspen Institute Business and Society Program helps established and emerging business leaders put values at the heart of practice. Through dialogue, research, and outreach, Aspen BSP creates opportunities for executives and educators to explore new routes to business sustainability and values-based leadership.
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