Preparing MBAs for Ethical Business Leadership

Now in its second decade, the McGowan Fellows program continues its quest to prepare MBA students for ethical leadership in corporate America. One of the most popular scholarships in business education circles, the McGowan Fellowship Program was established in 2010 by the William G. McGowan Charitable Fund after the 2008 financial crisis, which was blamed at least in part on ethical failures. business leaders.

The McGowan Fellowship Program aims to solve that problem by helping MBA students “consider social impact and value in their decision-making.”

As a result of their participation in the program, McGowan Fellows will develop a new perspective on the responsibilities and capabilities of business leadership. As they begin their careers, they are expected to make ethical leadership and commitment to social improvement key aspects of their organization’s ethos.

Only ten McGowan Fellows are named each year. Each is enrolled in ten of the top 25 business schools in the nation and selected as the best MBA student. American news Or Work week.

Candidates are selected by business schools that graduate after their first year of MBA. In addition to excellent academic achievement – ​​placing in the top 5% of their class – fellows must demonstrate strong leadership skills. Candidates submitted an application that included essays on topics such as the greatest challenges facing tomorrow’s business leaders and how industry leaders can address business challenges within a financially viable and socially responsible framework.

The 2023 cohort began their one-year program in August. These ten partners are:

Rebecca Bear, Carnegie Mellon University, Tepper School of Business;

Connor BellowS, Northwestern University Kellogg School of Management;

Patrick Nguyen burdenUniversity of Michigan Stephen M. Ross School of Business;

Christopher DetrickColumbia University Business School;

Grace Eun YoUniversity of Pennsylvania’s Wahaton School;

Praveen Kumar KrishnamurthyUniversity of Virginia Darden School of Business;

Eric SaldanA, Georgetown University McDonough School of Business;

Aditya Samant.Duke University Fuqua School of Business;

Gauri SethMassachusetts Institute of Technology Sloan School of Management;

Catherine WetlinskI, Dartmouth College Tuck School of Business;

A list of past McGowan Fellows can be found here.

In addition to covering students’ entire second year of their MBA program, the program focuses on experiential, values-based leadership training. Throughout their award period, fellows will participate in:

• Principled leadership development programming that emphasizes leadership coaching from the Center for Creative Leadership and one-on-one values-based coaching with McGowan alumni.
• The annual McGowan Symposium on Business Leadership and Ethics focuses on ethical questions and ethical decision-making in business and society. The 2022 symposium, hosted by Georgetown University’s McDonough School of Business, is titled “The Future of Authenticity.”
• A problem-solving social impact project that requires fellows to tackle a complex societal issue and collaborate with organizations working on the issue. Students are given an average of 2-3 hours per week to complete their assignments. This year’s project focuses on the intersection of work and homelessness.
• Winter retreat (time commitment: 2.5 days) and spring retreat (2.5-3 days) where fellows continue their leadership training and work on a social impact project.

To reinforce the importance of ethical leadership and make a significant impact on MBA education, the William G. McGowan Charitable Fund presents the inaugural McGowan Fund Fellows Program Ethical Leader of the Year Award to Charles F. The award was presented in June at the Society for Human Resource Management’s 2022 Annual Conference and Expo in New Orleans.

In accepting the award, Lowrey said, “The McGowan Fund is particularly commended for its efforts to highlight the enduring importance of ethical leadership in business as people’s trust in leaders and institutions is eroded around the world.”

Increasing the program’s visibility is intended to send a clear message: Every MBA program must develop principled, values-based leadership in their students. Increasingly, corporate boards are expecting their executives to think beyond the value they bring to shareholders or direct customers. Their companies should think about how to affect the widest possible range of stakeholders in society.

These principles are sometimes referred to as “conscious capitalism.” According to Diana Spencer, executive director of the McGowan Fund, it is the idea that capitalism, when practiced ethically and consciously, should work beyond profit, consider the broader needs of society, and aim for a higher purpose that elevates humanity. Building a culture of trust and accountability for all they serve.

Now the task becomes a matter of follow-up. It’s time for MBA programs across the country to incorporate ethical leadership principles into their curriculum so that a wider range of students are prepared for the redefined “business as usual” expectations of future business leaders.

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The McGowan Fellows Program honors and embodies the values ​​of William McGowan, who received a scholarship to attend Harvard Business School. A venture capitalist, McGowan served as CEO at MCI when he built the communications network he started. As chairman, McGowan raised capital for the growing company and established several regional service providers based on the MCI Communications network. McGowan has been with MCI for 24 years.