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Are Traders and Bankers Bad Losers?

‘Self-serving business leaders’ and a social technology business course make up today’s news

A crisis brings out the worse in people, well, at least those in the corporate world according to a behavioural business ethics professor at London Business School.

According to professor David de Cremer, a crisis can turn a company into a hotbed of fraud and figure fiddlers.

“Contrary though it may seem, crisis itself appears to breed further corruption within companies,” says the visiting professor.

“Indeed, evidence is mounting that the present financial crisis has actually promoted acts of corruption. The idea that corruption and fraud can be propelled by the current financial situation is a conclusion that many find puzzling.”

At the root of the problem is the ‘win-at-any-cost’ environment and the reckless behaviour of “self-serving business leaders” says de Cremer.

“In the context of a financial crisis, when looking at a situation in terms of losses, corruption is never far away,” adds de Cremer.

Doing Good Online

It turns out that Facebook and YouTube are more than just tools for self-promotion.

A new class at Stanford Graduate School of Business aims to focus on how the power of social media can be used to promote ‘social good.’

The class, ‘The Power of Social Technology,’ is the brainchild of Jennifer Aaker, a Stanford business professor, who was inspired to launch the course after a pupil of hers started an initiative online to find South Asian bone marrow donors for two friends with Leukemia.

"Everyone gives business schools a bad rap, and everyone gives for-profit companies a bad rap," but both have great potential to be vehicles for the public good, Aaker told MercuryNews.com.

During the course, students will also be tutored by a variety of guest ‘lecturers’ including the US rapper MC Hammer, executives from Pixar- the company behind Disney animated movies- and global micro-loans organization Kiva, reported the MercuryNews.com.

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