The superficial MBA Oath
A meaningless and superficial MBA Oath is now circulating in some of the top universities around the world, including SMU. MBA graduates are supposed to take the Oath modelled on the Hippocratic Oath of the medical profession which too has become superficial in many ways. The MBA graduates theoretically pledged to be good boys and good girls, do no evil, do only goodness, do no harm to others, and to help the society rather than their own pockets. If this is the best that these highly regarded institutions of higher learnings can come up with to save the world from another financial crisis, I think a primary school kid will be able to come up with something more idealistic. The real problems which no one wants to see or admit is that the administrators and regulators are in cahoot with the crooks and allowing the crooks to do as they pleased, helping them to take advantage of systems and regulations to enrich themselves with not a care about the consequences to anyone. What is needed is to put a hangman noose on the heads of the administrators and regulators and make them say a pledge as below, modelled after the superficial MBA Oath. 1. You shall be hanged if you do not manage the enterprise with loyalty and care, and advance your personal interests at the expense of the enterprise or society. 2. You shall be hanged if you do not understand and uphold, in letter and spirit, the laws and contracts governing your conduct and that of your enterprise. 3. You shall be hanged if you do not refrain from corruption, unfair competition, or business practices harmful to society. 4. You shall be hanged if you do not protect the human rights and dignity of all people affected by your enterprise, and you do not oppose discrimination and exploitation. 5. You shall be hanged if you do not protect the right of future generations to advance their standard of living and enjoy a healthy planet. 6. You shall be hanged if you do not report the performance and risks of your enterprise accurately and honestly. 7. You shall be hanged if you do not help the management to continue to advance and create sustainable and inclusive prosperity. But for the above pledge to be effective, an independent govt body shall be set up to monitor the administrators and regulators to check on their actions and compliance with the pledge. Self regulations or little regulation is the biggest bull that will make a farce of the pledge. The administrators and regulators must come under intense scrutiny if they are to do their duties diligently and objectively, and fairly. And they must know that the axe will fall on them if they don't do their jobs as expected in accordance with the above pledge. So far the administrators and regulators are acting as gods, passing judgements when in fact they are as culpable as the crooks that nearly destroyed the financial system. The sad part is that we were just given a rude warning and no one is taking heed, and the crooks are still at it daily, doing their damages with impunity, knowing that they have the administrators and regulators in their pockets.