Teaching ethics is a critical aspect of coursework in higher education business schools and to future business success. Recent research, however, indicates that business schools are focusing on the sustainability aspect of ethics, or grand challenges such as poverty and inequality, rather than helping students understand the underlying ethical considerations (Jaganjac 2024). A shift is needed to reclaim personal ethics education to develop future business leaders with the ability to act ethically. This calls for new pedagogies to help students form (...) personal ethical frameworks and make appropriate ethical decisions. This research examines the outcomes of an ethical dilemma assignment. Using content analysis, the findings indicate that while students are able to identify ethical conflicts, they lack a fundamental personal ethical framework to understand the philosophical aspects of ethical conflicts. Additionally, they need training to equip them to intervene and address ethical dilemmas. Faculty who teach ethics in business schools should consider including practical assignments such as ethical dilemmas. They must also incorporate specific training to help students develop conflict management skills and know how to intervene. (shrink)

This case study examines the confluence of Islamic finance and AI ethics in the rapidly growing Robo-Advisory sector, focusing on Wahed Invest LLC (Wahed). As a frontrunner in providing Islamic-compliant financial solutions, Wahed Investments seeks to align its offerings with core Islamic ethical principles. However, recent violations of the Securities and Exchange Commission (SEC) regulations, including misleading clients and insufficient disclosures, have highlighted the urgent need to strictly comply with both Islamic ethical standards and regulatory requirements to rebuild trust and (...) maintain its status as a Shari’ah-compliant entity advisor. (shrink)

The Association to Advance Collegiate Schools of Business’ (AACSB) accreditation standards specify that all business programs must include learning experiences addressing ethical understanding and reasoning. However, assessing students’ propensity to engage in ethical decision-making is not as straight forward as assessing some other business competencies. This paper examines the shortcomings of two common assessments and proposes an alternative assessment tool using a vignette with three variants. Multivariate probit regressions show that minor changes to the presentation of an ethical dilemma, which (...) should not change the ethical judgment of the protagonist’s behavior, significantly influences students’ ability to identify a business practice as ethical or unethical. The use of vignettes designed to capture the ambiguity business students may face in their careers, coupled with using variants to assess the reliability of their ethical judgement can help business schools evaluate the effectiveness of their ethics curriculum. (shrink)

This study investigates the influence of faculty deterrence and social acceptance on cheating behavior, addressing the central research question: Does high faculty deterrence reduce students' perceptions of cheating as socially acceptable compared to low faculty deterrence? A sample of 190 Bahamian undergraduate students representing various academic majors were randomly assigned to two vignettes depicting testing environments with either high or low faculty deterrence. Participants were asked to estimate the percentage of students who would consider cheating socially acceptable under each scenario. (...) The key findings indicate that high faculty deterrence significantly discourages perceptions of cheating, while low deterrence fosters a justification for unethical behavior. Notably, criminal justice majors from the School of Social Sciences were the only group to exhibit significantly different views between high and low deterrence conditions, while other academic majors, including business students, showed no significant differences. These findings align with Liebler’s research on U.S. undergraduate business students, suggesting that faculty oversight plays a crucial role in shaping ethical perceptions. The results have important implications for business ethics education, emphasizing the need for solid faculty engagement to promote academic integrity. Additionally, the discipline-specific differences highlight the importance of incorporating tailored ethical training across various fields of study. (shrink)

One way in which business ethics educators can introduce business ethics to their students is through the so-called “Friedman vs. Freeman debate”. However, a growing body of literature challenges the juxtaposition of the views of Friedman and Freeman—two authors commonly seen as archetypal proponents of the “shareholder model” and the “stakeholder model” of the firm, respectively. This article argues that it can still be valuable to introduce students to the doctrines of Friedman and Freeman—provided that it is done in a (...) way that neither overemphasizes the differences between these doctrines nor suggests that they exhaust the variety of viewpoints that exist on business ethics. We offer a pedagogical tool, in the form of a two-dimensional matrix, that can help educators do this, and discuss how the matrix can be used in the classroom to make students aware of the diversity of existing positions in business ethics. (shrink)

The stakeholder theory has become influential in the field of business management, especially concerning environmental and social issues. Nevertheless, there is room for improvement in the way this theory is taught in higher education. In this work, an experiential teaching method is proposed where the firm is no longer the center of analysis, and business situations are approached from the perspective of participating stakeholders. An original role-playing activity with detailed instructions to be adapted and used by interested educators was put (...) into practice with the participation of Spanish undergraduate students. Results showed that this teaching method helped promote stakeholder thinking in management courses and led students to evaluate the power of different stakeholders. (shrink)

Value-based education and its connection with ethical decision-making among professionals has been a subject for discussion in multiple professional disciplines in recent years. Bridging the gap between value-based and ethics education, on the one hand, and ethical behavior, on the other, remains contested. This paper set out to examine the literature on value-based and ethics education and its influence on the ethical decision-making of professionals. While some studies were found to depict a positive correlation between value-based education and ethical actions, (...) perceptions and decision-making of working professionals, others indicated an absence of such a relationship or a weak relationship, and yet others qualified the relationship as based on the nature or format of the training. Among the challenges are instances of organizational values being at variance with those of a worker's profession and personal values. Although an ideal situation would be a convergence of values, this is not always the case. Ethics and values were noted to be situation- and context-sensitive, which creates opportunities to explore how profession-specific values and ethics are affected by national and organizational cultural differences. (shrink)

The purpose of this paper is three-fold. First, to offer fully developed exercises for educators and scholars that could be added immediately to a business ethics course to explore timely ethical issues in an exciting way. Second, to highlight the benefits of incorporating Positive Psychology and a discussion of character strengths into business ethics courses (or courses that include units on ethics or sustainability) to enhance the understanding and practice of ethical decision-making in the business context. Third, to offer a (...) framework other educators could use to create a content-generating and engaging workshop at their discipline-specific conferences. (shrink)

This case study presents a fictitious scenario designed to facilitate reflection on ethical dilemmas at the intersection of professional finance and personal morality. It follows Jean, a high-achieving finance professional, whose career success leads him to question the ethical implications and social value of his work. As Jean’s dissatisfaction grows, he becomes interested in addressing global issues, such as world hunger, ultimately leading him to a moral crossroads. The case explores four potential ethical paths Jean could take, each with its (...) own consequences. Through Jean’s journey, students are encouraged to explore ethical decision-making frameworks, reflect on the influence of personal values in shaping choices, and consider the broader implications of their decisions, both within and beyond professional contexts. This case is designed for graduate students in business ethics, finance, and management, offering insights into the multifaceted nature of decision-making. (shrink)

Academic integrity is a growing concern in colleges and universities worldwide, with business programs no exception. Business educators have wrestled with the best ways to promote a culture of ethical behavior by implementing effective policies and practices to prevent and respond to academic misconduct (McCabe et al. 2006). Traditional punitive systems often fail to deter misconduct effectively. This paper explores both historical approaches to academic integrity and proposes adopting restorative alternatives that are centered on a foundation of moral repair. Considering (...) the unique challenges of the business school context, the paper advances the idea that promoting moral repair through restoration could reshape academic integrity enforcement, fostering a culture of trust and responsibility in business education and beyond. It specifically suggests applying Goodstein and Butterfield’s restorative justice model, which was developed with the workplace in mind, to the academic context, emphasizing proactive community standards, faculty involvement, and trust and accountability. The paper includes a case study, which describes an initial effort in applying these models through the curriculum. The discussion concludes with lessons learned, opportunities and challenges in implementing such approaches, and opportunities for future research. (shrink)

This teaching case focuses on tax shelters for audiovisual works. Since its inception in 2003, the Belgian tax shelter system has undergone substantial reforms to make the system more ethical and reduce risks for investors. The necessity to reform the system was in part highlighted by a fraud that affected over 1,200 investors. Students take on the role of a business owner contemplating an investment in the Belgian tax shelter. The case challenges students to discuss the ethics of tax shelters, (...) identify risks for investors and make an investment decision. (shrink)

This research assessed the impact of the participants’ personal value orientation preferences and level of principled moral reasoning when comparing undergraduate business students with undergraduate pharmacy students before and after students completed a professional ethics course. Overall there was little significant change in the students’ value orientations and principled moral reasoning after completing a professional ethics course, yet some important findings emerged when comparing business to pharmacy students.

Business ethics education is a cornerstone of preparing future leaders to navigate the complex ethical dilemmas inherent in modern management. Existing curricula often fall short of equipping students with actionable tools to address these challenges, frequently adopting reactive approaches rather than fostering proactive ethical reasoning. This paper addresses the gaps by creating a framework that applies normative ethics—consequentialism, deontology, and virtue ethics. We further propose a teaching protocol for an in-class activity in which student groups can apply their understanding of (...) the framework in real-world scenarios. (shrink)