Posted by Robert Hurley on Monday, February 6, 2012
In a study published in the December 2011 edition of the Academy of Management Learning and Education journal, Long Wang, Deepak Malhotra and Keith Murnighan provide further evidence that exposure to economics and the virtues of self-interested behavior can make people more greedy.This follows other research that showed that business students were more likely to engage in opportunistic behavior than students in other types of schools (e.g., Education). We who teach business students must be careful that we are teaching ethics, trustworthiness, justice and human resources not just marketing, finance and what are perhaps the less people oriented subjects. At the end of the day the legitimacy of a business and its survival relys on the trust of investors, customers and employees. Excess greed and opportunism - winning at stakeholders' expense - will erode the trust of these vital stakeholders.