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Compares the management profession with the medical profession, in particular examining the Hippocratic oath. Suggests that as managers are the physicians of business, they should also abide by an oath, which is then proposed by the author.

It has been suggested that the introduction of a universal code of ethics for business, similar to that of the Hippocratic Oath, would encourage business leaders to engage in ethical decisions. The aim of this study is to empirically investigate what future business leaders learn in business school ethics class and to critically examine if there is any correlation between the education that the Hippocratic Oath refers to and modern business ethics education. This quantitative study surveyed 128 academics that teach ethics to business students in 29 Australian universities in order to find out what business students learn when they study ethics in business schools.

The study found such an overall inconsistency in business ethics education that no specific conclusions can be made apart from concluding that there is no uniform and universal standard into the discipline of ethics and what it teaches. The experts are mainly split between the view that ethics education is about teaching critical thinking or that it is about learning academic and theoretical aspects of the discipline of ethics. A third of the experts also thought the purpose of ethics education was to teach ethical conduct.

This paper also argues that the laissez-faire approach about ethics education from Association for Advancement of Collegiate Schools of Business (AACSB) has marginalised business ethics education as business schools overwhelmingly tend to scattering ethics topics superficially and incoherently across the curriculum. The study argues that it is critical to establish a universal standard in business ethics education in order to ensure future ethical business leaders and that the first step is to determine a universal definition of ethics.

The ambiguous response of business schools to responsible management education (RME) is part of a larger problem which is rooted in how science evolves. The purpose of this paper is to explain how the consolidation of causal-based research in management will produce much more effective theories and teaching materials. Therefore business schools will then have to seriously engage in strong RME practices to prevent scandals from happening and to consolidate management as a profession.

In total, two models are introduced and explained. First, a comprehensive methodology for theory building that controls for causality and delivers clear and actionable results. Second, a model that depicts the three stages of interactions between variables (relationship, contingency and causality).

New causal-based research methods are starting to emerge that explain when a particular event will occur and how to “cause” for it to happen.

Business schools are not responsible of the current economic crisis. But if they do not find a way to introduce RME practices before the advent of causal-based research their reputation might be severely damaged during the next one.

As many other business school innovations, the first group of business schools that pioneer causal-based research will not only deliver on the promise of RME but also introduce the new generation of successful, relevant and actionable new managerial practices.

This paper has two purposes. The first is to help elected officials address the issue of public accountability for crises and improve productivity and risk management in the process by outsourcing some traditional government functions to civil society based organizations that can do a better job. The second is to mobilize researchers to explore the implications of the shift from “governing” to “governance” for risk management and the development of risk culture.

After exploring some case studies, the paper examines some leading resources on the shift from “governing” to “governance”. The paper goes on to present an alternative approach for managing public risks.

In order to improve the management of public risks, and given the financial constraints faced by most governments, there is a need for a deliberate effort to entice civil society based organizations to help government identify and alert the public to possible risks. In other words, civil society based organizations that make claims for public resources in the name of good governance should, as necessary, play the role of a watchdog when it comes to public safety and guarding of the public interest in that regard.

Use of market forces and non‐governmental entities to replace government agencies and regulations that cannot assure the public safety because they are difficult to implement, expensive or likely to be compromised due to various forms of corruption and politics.

The paper advocates substitution of “management by exception” by a “management by risk” approach and the fostering of an administrative culture that is more mindful of the need to recognize and address possible risks. Such an approach, the paper claims, is a more promising approach than an increase in government regulation.

Organizations are confronted with problems and political risks to which they have to respond, presenting a need to develop tools and frames of understanding requisite to do so. In this article, we argue for the necessity of cultivating “political judgment” with a “sense of reality,” especially in the upper echelons of organizations. This article has two objectives: First to highlight how a number of recent interlinked developments within organizational analysis and practice have contributed to weakening judgment and its accompanying “sense of reality.” Second, to (re)introduce some canonical works that, although less in vogue recently, provide both a source of wisdom and frames of understanding that are key to tackling today’s problems. We begin by mapping the context in which the need for the cultivation of political judgment within organizations has arisen: (i) increasing proliferation of political risks and “wicked problems” to which it is expected that organizations adapt and respond; (ii) a wider historical and contemporary context in which the exercise of judgment has been undermined – a result of a combination of economics-inspired styles of theorizing and an associated obsession with metrics. We also explore the nature of “political judgment” and its accompanying “sense of reality” through the work of authors such as Philip Selznick, Max Weber, Chester Barnard, and Isaiah Berlin. We suggest that these authors have a weighty “sense of reality”; are antithetical to “high,” “abstract,” or “axiomatic” theorizing; and have a profound sense of the burden from exercising political judgment in difficult organizational circumstances.

To present an outsider's view of how management education can be significantly improved.

Focuses on correcting several obvious deficiencies in courses and degree programs to create highly differentiated educational experiences that are more relevant to student's needs and the organizations that employ graduates.

Proposes a suite of 11 interconnected improvements as well as a fundamental re‐structuring of the MBA program designed to simplify it, provide greater focus, improve relevancy, and impart needed thematic consistency.

Presents 11 practical improvements individual faculty or schools can readily incorporate into existing courses or degree programs. The proposed curriculum for a completely re‐structured MBA program can add distinctiveness and expand the value proposition for students and their employers.

The suite of 11 improvements and proposed MBA program curriculum changes offers an alternate route for preparing students for future global business challenges. The proposed improvements are intended to serve as a foundation for discussion and debate, and hopefully future action as well.

Discusses the importance of precise communication as a prerequisite to achieving alignment between internal and external stakeholders. Consideration is given to popular management catch‐phrases in general, with specific analysis of the widely‐used statement: “what gets measured gets managed”. The application of mathematical logic shows this to be a false statement, yet one that precipitates the management of measurements that may not add value as seen by the end‐use customer.

Describes the process for conducting downward price business‐to‐business online auctions over the Internet for direct material purchasing and presents common issues, process improvement opportunities, and the interpretation of auction results. Comparisons are made between online auctions and traditional procurement process. Also discussed are stakeholder reactions and the organizational issues generated when online auctions are introduced to traditional purchasing organizations, as well as the benefits to buyers and sellers. The author proposes that online auctions will delay the adoption of modern supply chain management methods and the implementation of lean production that are needed by both buyers and suppliers in order to truly eliminate waste and reduce total costs.

Uses an innovative approach to analyze the long‐standing claim that companies exist to maximize shareholder value. Five statements supporting this claim are tested using mathematical logic. Each one is found to be false. The community of business theorists, consultants, academics, and management practitioners that espouse shareholder value as the singular purpose of business are thus shown, from this perspective, to be wrong.

Compares and contrasts the organizational routines and outcomes of businesses that are managed using practices grounded in batch‐and‐queue and lean production. The former is shown to be poor at providing senior management with timely and accurate information, thus obscuring or altering business realities, while the latter results in greater clarity and improved responsiveness to changing market conditions. It proposes that the primary work of the investment analyst should change to “muda analyst”, whose focus is the elimination of waste in business processes between internal and external stakeholders, while the traditional work of investment analysts is positioned as a secondary activity. Identifies different types of questions to ask senior management in order to assess the underlying business and leadership practices.