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I'm just not surprised, reading the details. Same old same old. Corporate greed. Making money is to be expected. It's capitalism. But American capitalism is egregiously unethical. Money = more important than people, more important than peoples' LIVES, more important than fixing the malfunctioning car-part (ignition switch, yes?)
But American capitalism is egregiously unethical. Money = more important than people, more important than peoples' LIVES, more important than fixing the malfunctioning car-part (ignition switch, yes?)
Problem is with American management culture and the American business school system that breeds it.
There is something to be said about a culture and a time where the head of the corporation would promptly off himself with a clean, sharp sword when his company did something so shameful.
While that is not the norm these days even in that culture, American management is groomed to do just the opposite. Not have any accountability other than the empty words when caught "I take full responsibility" which really means nothing other than perhaps laying off a few thousand people who had nothing to do with it to clean up the balance sheet after the damage. Just so that all of us can look at our nvestment reports and make sure we were not penalized for those decisions. We are all part of the problem too!
Man, you are one of the most insightful and articulate members on the MFO board, but I sure hope you are wrong on this one...'cause if you are right, what a sorry state of affairs!
i don't think it's a business school issue. it's lack of real leadership. Leaders (and i meant to capitalize in this case) are not minted fresh in schools. people either have it or not -- to be able to face adversity, acknowledge mistakes, make short-term sacrifices for the long-term benefit, give credit to others, and make decisions that are not always popular but are right. i find that lack of leadership permeating the american society -- not just in the boardrooms, but, and most importantly, in politics. it could be, just a thought, that this is a side effect of the overemphasis on political correctness -- when kids in school are learning not to hurt each others' feelings before they learn how to read and write. just some thinking aloud.
Comments
There is something to be said about a culture and a time where the head of the corporation would promptly off himself with a clean, sharp sword when his company did something so shameful.
While that is not the norm these days even in that culture, American management is groomed to do just the opposite. Not have any accountability other than the empty words when caught "I take full responsibility" which really means nothing other than perhaps laying off a few thousand people who had nothing to do with it to clean up the balance sheet after the damage. Just so that all of us can look at our nvestment reports and make sure we were not penalized for those decisions. We are all part of the problem too!