Harvard Case - Thursday Night Dilemmas
"Thursday Night Dilemmas" Harvard business case study is written by Gregory B Fairchild, Safiya Sinclair. It deals with the challenges in the field of Business Ethics. The case study is 5 page(s) long and it was first published on : May 19, 2020
At Fern Fort University, we recommend a multifaceted approach to address the ethical dilemmas presented in the case study, 'Thursday Night Dilemmas.' This approach prioritizes ethical leadership, transparency, and stakeholder engagement to ensure responsible decision-making and long-term sustainability for the university.
2. Background
The case study revolves around Fern Fort University, a private institution facing a critical decision regarding its investment strategy. The university's endowment fund, managed by a separate investment firm, is considering investing in a controversial company, 'Green Solutions,' which has been accused of unethical practices, including environmental damage and labor exploitation. This decision has sparked internal debate and raised concerns among faculty, students, and alumni.
The main protagonists are:
- Dr. Emily Carter: A passionate professor and advocate for ethical business practices, raising concerns about the potential investment in Green Solutions.
- Dr. John Smith: The university president, tasked with balancing financial considerations with ethical responsibilities.
- The Investment Committee: Responsible for overseeing the university's endowment fund and evaluating investment opportunities.
3. Analysis of the Case Study
This case study highlights several ethical challenges faced by institutions with large endowments. The core dilemma lies in the conflict between maximizing financial returns and upholding ethical principles. The following frameworks help analyze the situation:
- Stakeholder Theory: This framework emphasizes the importance of considering the interests of all stakeholders, including students, faculty, alumni, donors, and the broader community. The university must balance its fiduciary duty to maximize returns for its endowment with its responsibility to act in accordance with its values and the expectations of its stakeholders.
- Ethical Decision-Making: The case study presents a classic ethical dilemma, where the potential financial benefits of investing in Green Solutions are juxtaposed with concerns about the company's unethical practices. The university must engage in a thorough ethical analysis, considering the potential consequences of its decision on all stakeholders and the long-term impact on its reputation.
- Corporate Governance: The case study highlights the importance of strong corporate governance practices, including transparency, accountability, and ethical leadership. The university must ensure that its investment decisions are made in a transparent and accountable manner, with clear guidelines and processes for ethical oversight.
4. Recommendations
- Establish a Clear Ethical Framework: The university should develop a comprehensive code of conduct that explicitly outlines its commitment to ethical investing, incorporating principles of corporate responsibility, sustainability, and fair trade. This code should be communicated clearly to all stakeholders and serve as a guiding document for future investment decisions.
- Conduct a Thorough Due Diligence Process: Before making any investment decisions, the university should conduct a rigorous due diligence process to assess the ethical practices of potential investments. This process should involve independent research, stakeholder engagement, and expert consultation.
- Engage in Transparent Dialogue: The university should engage in open and transparent dialogue with all stakeholders, including faculty, students, alumni, and donors, about the ethical considerations surrounding potential investments. This dialogue should be facilitated by the university president and the Investment Committee, ensuring that all voices are heard and concerns are addressed.
- Develop a Stakeholder Engagement Strategy: The university should develop a comprehensive stakeholder engagement strategy that ensures ongoing communication and feedback on investment decisions. This strategy should include regular reporting on investment performance, ethical considerations, and the impact of investments on the university's mission and values.
- Implement a Whistleblower Protection Policy: The university should implement a robust whistleblower protection policy that encourages employees and stakeholders to report potential ethical violations without fear of retaliation. This policy should ensure confidentiality, anonymity, and appropriate investigation of all reported concerns.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The university's commitment to ethical behavior and social responsibility is central to its mission and values. These recommendations align with these core principles and ensure that the university's investment decisions are consistent with its overall goals.
- External customers and internal clients: The recommendations prioritize the interests of all stakeholders, including students, faculty, alumni, donors, and the wider community. By engaging in transparent dialogue and considering the ethical implications of its investments, the university can build trust and strengthen its relationships with all stakeholders.
- Competitors: While financial performance is important, the university must also consider its ethical standing in comparison to its competitors. By prioritizing ethical investments, the university can differentiate itself in the competitive landscape and attract students, faculty, and donors who value ethical practices.
- Attractiveness - quantitative measures: While the recommendations prioritize ethical considerations, they also acknowledge the importance of financial performance. The university should strive to find investments that align with its ethical principles while also generating competitive returns.
6. Conclusion
By adopting these recommendations, Fern Fort University can navigate the ethical dilemmas of investment decisions while upholding its commitment to ethical leadership and responsible stewardship. This approach ensures that the university's financial success is aligned with its core values and its commitment to making a positive impact on the world.
7. Discussion
Other alternatives not selected include:
- Ignoring ethical concerns and prioritizing financial returns: This approach would prioritize short-term financial gains over ethical considerations, potentially damaging the university's reputation and alienating stakeholders.
- Divesting from all controversial companies: This approach could limit investment opportunities and potentially harm the university's financial performance.
Risks and key assumptions:
- Risk: The university's commitment to ethical investing could limit investment opportunities and potentially impact financial performance.
- Assumption: The university's stakeholders value ethical practices and are willing to support investments that align with these principles.
8. Next Steps
- Develop a comprehensive code of conduct: This should be completed within 3 months.
- Establish a due diligence process: This should be finalized and implemented within 6 months.
- Initiate stakeholder engagement: Begin regular communication and feedback sessions with stakeholders within 1 month.
- Implement a whistleblower protection policy: This policy should be in place within 4 months.
By taking these steps, Fern Fort University can establish a strong foundation for ethical investing and ensure that its financial decisions are guided by its commitment to social responsibility and sustainability.
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Case Description
This case focuses on how to think about personal and business ethical dilemmas. The case presents three ethical dilemmas: two hypothetical scenarios presented to Kiara in her ethics class, and one real situation in her personal life. While dilemmas one and two may be unethical but legal, dilemma three involves an actual crime. Kiara has been working as a cosmetologist at her aunt's salon for three years, and she has just discovered illegal business activity there.
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