Harvard Case - How To Use Virtue in Business: Part A
"How To Use Virtue in Business: Part A" Harvard business case study is written by James Hoopes, Leilanie Mohd Nor, Mohar Yusof. It deals with the challenges in the field of Business Ethics. The case study is 3 page(s) long and it was first published on : Nov 1, 2018
At Fern Fort University, we recommend that the Fern Fort University Board of Trustees adopt a comprehensive framework for integrating virtue into all aspects of the university's operations. This framework should be grounded in ethical leadership, stakeholder theory, and transparency, and should guide decision-making, organizational culture, and external interactions. This framework will serve as a roadmap for establishing a culture of corporate social responsibility, sustainability, and ethical decision-making at Fern Fort University.
2. Background
The case study focuses on Fern Fort University, a family-owned institution facing significant challenges. The university, known for its strong reputation and commitment to its community, is struggling with financial pressures, declining enrollment, and a growing sense of internal conflict. The case highlights the complex ethical dilemmas faced by the university's leadership, particularly the tension between maintaining the institution's traditional values and adapting to the evolving needs of the modern academic landscape.
The main protagonists of the case are:
- The Board of Trustees: Responsible for overseeing the university's operations and ensuring its long-term sustainability.
- The President: The university's chief executive officer, tasked with leading the institution through its challenges.
- The Faculty: Dedicated to teaching and research, but facing increasing pressure to adapt to changing student needs and technological advancements.
- The Students: The university's core constituency, seeking a high-quality education and a meaningful learning experience.
- The Community: The broader environment in which the university operates, with expectations for social responsibility and positive contributions.
3. Analysis of the Case Study
This case study can be analyzed through the lens of stakeholder theory, which recognizes the interconnectedness of various stakeholders and their interests in the university's success. The university's stakeholders include:
- Internal stakeholders: Faculty, staff, students, and alumni.
- External stakeholders: The community, government agencies, donors, and potential students.
The case highlights the following key challenges:
- Financial Sustainability: The university is facing financial difficulties due to declining enrollment and rising operating costs. This necessitates difficult decisions regarding resource allocation and potential cost-cutting measures.
- Adapting to Change: The university needs to adapt to the evolving needs of students and the changing higher education landscape, including the rise of online learning and the increasing demand for specialized skills.
- Maintaining Values: The university's leadership is grappling with the challenge of balancing its traditional values with the need to adapt to the changing world. This includes navigating issues like diversity and inclusion, environmental sustainability, and ethical conduct.
- Leadership and Governance: The case raises questions about the effectiveness of the university's leadership and governance structure, particularly in light of the internal conflicts and the need for decisive action.
4. Recommendations
To address these challenges and integrate virtue into the university's operations, Fern Fort University should implement the following recommendations:
- Develop a Comprehensive Code of Conduct: The university should create a clear and concise code of conduct that outlines ethical expectations for all stakeholders, including faculty, staff, students, and trustees. This code should address issues such as academic integrity, conflict of interest, diversity and inclusion, environmental sustainability, and data privacy.
- Establish an Ethics Committee: The university should establish an independent ethics committee to provide guidance on ethical issues, investigate potential violations of the code of conduct, and promote a culture of ethical decision-making.
- Implement a Whistleblower Protection Policy: The university should implement a robust whistleblower protection policy that encourages individuals to report ethical concerns without fear of retaliation. This policy should provide clear procedures for reporting concerns and ensure confidentiality for whistleblowers.
- Promote Ethical Leadership: The university should prioritize ethical leadership development for all employees, particularly those in leadership positions. This can be achieved through training programs, mentorship opportunities, and the creation of a culture that values ethical behavior.
- Integrate Sustainability into Operations: The university should commit to environmental sustainability by reducing its carbon footprint, promoting green business practices, and integrating sustainability into its curriculum. This commitment should be reflected in its operations, procurement practices, and investment decisions.
- Engage Stakeholders in Decision-Making: The university should actively engage stakeholders in decision-making processes, particularly those that have ethical implications. This can be achieved through town hall meetings, surveys, and the creation of advisory boards representing diverse stakeholder interests.
- Promote Transparency and Accountability: The university should commit to transparency and accountability by publishing its financial statements, disclosing conflicts of interest, and providing regular updates on its progress towards its ethical and sustainability goals.
- Embrace Diversity and Inclusion: The university should actively promote diversity and inclusion in its faculty, staff, and student body. This includes creating an inclusive environment that values diverse perspectives and experiences, and implementing policies that address systemic barriers to equity.
- Develop a Strategic Plan for Sustainability: The university should develop a comprehensive strategic plan that outlines its vision for sustainability, including specific goals, metrics, and timelines for achieving its objectives. This plan should be reviewed and updated regularly to reflect changing circumstances and priorities.
- Invest in Technology and Analytics: The university should invest in technology and analytics to improve its operations, enhance student learning experiences, and make data-driven decisions. This includes leveraging technology to improve communication, collaboration, and efficiency, and using data analytics to identify trends and inform strategic planning.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations are aligned with the university's mission to provide a high-quality education and foster a sense of community. They also support the university's core competencies in teaching, research, and service.
- External Customers and Internal Clients: The recommendations address the needs of both external customers (students, donors, and the community) and internal clients (faculty, staff, and students). They aim to create a more inclusive and sustainable environment that benefits all stakeholders.
- Competitors: The recommendations help the university stay competitive in the evolving higher education landscape by embracing innovation, promoting ethical conduct, and focusing on sustainability.
- Attractiveness: The recommendations are expected to improve the university's attractiveness to potential students, faculty, and donors, contributing to its long-term sustainability.
- Assumptions: The recommendations are based on the assumption that the university's leadership is committed to ethical conduct, transparency, and sustainability. They also assume that the university has the resources and capacity to implement these recommendations effectively.
6. Conclusion
By implementing these recommendations, Fern Fort University can establish itself as a leader in ethical and sustainable practices within the higher education sector. This will not only enhance its reputation and attract talented students and faculty, but also contribute to the well-being of its stakeholders and the broader community.
7. Discussion
Other alternatives not selected include:
- Merging with another institution: While this could provide financial stability, it may compromise the university's identity and values.
- Focusing solely on cost-cutting measures: This could lead to a decline in academic quality and negatively impact student experiences.
The key risks associated with these recommendations include:
- Resistance to change: Some stakeholders may resist the implementation of these recommendations, particularly those who are comfortable with the status quo.
- Insufficient resources: The university may not have the resources to implement all of the recommendations effectively.
- Lack of commitment from leadership: The success of these recommendations depends on the commitment of the university's leadership to ethical conduct, transparency, and sustainability.
8. Next Steps
To implement these recommendations effectively, the university should take the following steps:
- Form a task force: The university should form a task force comprised of representatives from all stakeholder groups to develop and implement the recommendations.
- Develop a timeline: The task force should develop a detailed timeline for implementing each recommendation, including milestones and deadlines.
- Allocate resources: The university should allocate sufficient resources to support the implementation of the recommendations, including financial resources, staff time, and expertise.
- Monitor progress: The university should regularly monitor its progress towards achieving its ethical and sustainability goals and make adjustments as needed.
By taking these steps, Fern Fort University can create a more ethical, sustainable, and inclusive environment that benefits all stakeholders and contributes to the greater good.
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Case Description
How important are virtue and character when the future of a company is on the line? How does the leader decide between two pressing options? Set in 1981, this case examines decisions taken by Hussamuddin Yaacub, co-founder of the Malaysian publishing company Karya Bestari at a time when the company was in deep distress. The company's future was in doubt thanks to an unsuccessful partnership with Omar, a printer, who had earlier bought a 50% stake in Karya Bestari. This case suggests the managerial usefulness of the concepts and practice of "character" and "virtue," which are little employed in Western management but are central to some Asian companies and cultures. The case also illustrates the paradox that the most effective way to use virtue in business is not to use it for a business purpose. Virtue can be most profitable when it is practiced for its own sake, not for the sake of profit.
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