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Global Recruiter's Top 100 Business Schools 2007
QS Research 1990-2007

Previous

Page - 37

5.10 CORPORATE GOVERNANCE

There have been a great many instances of poor corporate governance and corporate social responsibility (CSR) in recent years in businesses around the world. The most widely reported cases have been the WorldCom and Enron collapses. Directors of public
companies were alleged to be actively hiding losses in offshore accounts to boost their reported profitability. This malaise has now been exposed in Europe, with directors and auditors of Parmalat apparently guilty of similar malpractice. As global outsourcing spreads, the opportunities and risks of corporate financial catastrophe from poor governance increase. Several US apparel retailers have been subject to a multi-billion dollar class action from a group of Chinese workers in Saipan, for allegedly maintaining illegal working conditions. "The crisis can be viewed as a failure of boards of directors, accountants and others who let down corporate stakeholders," says Paul Danos, Dean of Tuck School of Business at Dartmouth College in the US. Matt Tuchow, Professor of CSR at Geneva International Organisations MBA programme, says, "Today no famous brand or publicly traded company is immune from potential attack by stakeholders who now expect more responsibility, accountability and transparency."

European business schools are actively taking a lead in fostering good CSR management practices. Alessandro Lala, an MBA applicant, reports that, "He met Manchester Business School at the World MBA Tour in Rome last year. It was great to speak face-to-face with an admissions officer. Amongst other things, I was impressed by their commitment to fostering good governance." Manchester Business School offers a number of electives, which look at the checks and balances used to manage the relationships between the board, management and investors/owners of a company. Those electives include: Business Law, Corporate Financial Management, Corporate Reputation and Competitiveness, Corporate Social Responsibility and Business Ethics. In addition, there is a CSR Club run by the students. Many US business schools have also responded to the CSR challenge. Harvard Business School came in for criticism because Jeffrey Skilling, the CFO of Enron, was a Harvard MBA. Yet, Paul Danos of Tuck says, "We screen our applicants in terms of their potential to be principled leaders and CSR is a mandatory course for all our MBAs."

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Back to Index Global Recruiter's Top 100 Business Schools 2007


Source: -
QS World MBA Tour - QS TopMBA.com International Recruiter Survey 2007
© QS Quacquarelli Symonds Ltd. 2007
Website: www.topmba.com


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