CSU’s College of Business plans to offer ethics courses for graduate and undergraduate students in light of the recent corporate scandals.
“Ethics is an area that has been consistently overlooked and neglected by colleges of business because of the assumption that it is all about personal values,” said O.C. Ferrel, director of the E-Center for Business Ethics in a release. “Business students are challenged more than ever to understand the legal and ethical environments in which they make their decisions.”
Large corporations, like Qwest Communications International and WorldCom, have faced criminal investigations from the U.S. Justice Department and Securities and Exchange Commission since June.
The investigations looked into each corporation’s accounting methods and speculations of fraudulently masking losses as profit. The public announcement of the investigations have aided in Wall Street’s continuing fall over the past week.
Worldcom’s investigation came just after the corporation filed for bankruptcy last week and information masking.
As unethical practices in corporate America continue to be revealed, President Bush announced a call to action from the nation’s business schools to “be principled teachers of right and wrong.”
In response to that announcement the College of Business at CSU decided to take action.
“The guiding principles for the College of Business are built upon a strong ethics foundation,” said Ajay Menon, dean of the College of Business in the release. “To build on our tradition of community and customer focus, a task force has been established to ensure that the curriculum will contain a broad-based inclusion of ethics, corporate values and social responsibility in both undergraduate and graduate degrees in the College of Business.”
The College of Business also plans to implement a year-long program ran by Ferrel and Lynn Turner, director of the Center for Quality Financial Reporting, that will include a lecture series, workshops, symposiums, debates and a business day focusing on business ethics.
“We have the opportunity and responsibility to prepare our students, not only in the realm of business but in all areas, for the intellectual, ethical and social challenges they will face once they embark upon their careers,” said Albert C. Yates, president of CSU in the release.