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Beyond Grey Pinstripes
Conscious Capitalism (International study tour to Bentley University) (2011)
Topic AreasCSR/Business Ethics
The Conscious Capitalism elective is an international visit elective which is regarded as equivalent to three normal electives of the school. The course consists of four modules.
1. The Ethics and Accountable Leadership module presents issues related to these themes that are facing organizations in today’s economy and the changes affecting leaders’ responsibilities in the global marketplace. The session will involve a role play decision---making case, an exploration of tensions between shareholder and stakeholder models of business, a framework for thinking about ethical leadership and building an ethical organization, and an introduction to the emergence of conscious capitalism and its ramifications for organizations and their leaders. The session will be highly interactive with ample opportunity for conversation and questions.
2. Increasingly, businesses of every size and industry are affected by global competition. Global transportation and ICT infrastructure, interconnected financial systems, the globalization of culture, and the formation of new political and economic structures have created a dynamic environment that requires constant adaptation by firms. The Changing Context for Global Business module provides a macro-level survey of key changes that shape the context in which global companies operate, paying special attention to the global financial crisis, changing relationships between countries, and the impact of trade policies.
3. The world of business today is urgently in need of a new paradigm because “business as usual” is simply not working well any more. Public distrust of business is at historic highs; many employees, customers and other stakeholders of businesses are disconnected from and disillusioned with the companies they interact with. At the same time that its reputation is deteriorating, the reach and impact of business in the world is growing. Business today has more power than ever before to enhance or to diminish overall well-being in society. As its power and influence grow, so too must its sense of responsibility and “stewardship”/ trusteeship. The term “conscious capitalism” reflects the fact that more people today are at higher levels of consciousness about themselves and the world around them than ever before. This is due in part to natural evolution, but also to the rapid aging of society, which has resulted in a higher proportion of people in mid—life and beyond, when consciousness is elevated and higher level needs predominate. This section of the course focuses on the theory and practice of Conscious Capitalism
4. The Corporate Governance aspect of the course covers different issues related to the firm’s governance such as appropriate mechanisms for effective governance, ownership structure in large corporations, governance in mergers or corporate restructurings, and the role of boards and incentive compensation.