Business students face some difficult challenges when learning to be ethical business leaders. Having knowledge of business operations is not sufficient to be leaders, not to mention being ethical business leaders.
The development of the values and skills to be principled or ethical business leaders requires recognition that business is an institution that has significant responsibility to improve social welfare with considerations of humanity, trust and fairness.
To help young business students develop these values and skills, there are three things that can make a substantial impact on their progress.
1. Profits are not the purpose of business
One of the first things business students need to understand is that the purpose of business is not to make profits. In general, there is a naïve perspective about business as the way to make money or solely to provide economic benefits.