OLS 520: Comparative Perspectives on Business & Society

Tonight

Personal Introductions

Course overview

Discussion of “Why Some MBAs are Reading Plato, Kant”

The environment of business

Four views of free market capitalism

OLS 520: Comparative Perspectives on Business & Society

Course Description & Objectives

To develop a broad understanding of the role of business in American society

To understand the global free market economic system, how it developed, and what the alternatives are

To equip you to better serve the common good by sharpening your perspective on your individual career

role

To develop skills in critical thinking and analysis through class discussion and written analysis of assigned

readings

OLS 520: Comparative Perspectives on Business & Society

Some key assumptions of the course

Business is the central organizing institution of the modern technological society

The purpose of an economic system and of business is to meet the material needs of society

The economic system that has historically been the greatest generator of aggregate wealth is

free market capitalism, but . . . A person’s view of the role of business in society - is critical to an effective democracy - does affect how we do our work

OLS 520: Comparative Perspectives on Business & Society

Course Structure

The environment of business in the 21st century The evolution of the global free market

economic system Assessing the global free market economic

system Trust: The core value of the free market system

OLS 520: Comparative Perspectives on Business & Society

Course Projects & Assignments

Class preparation and participation Participation in electronic discussion forums Essays and other short writing assignments

Books and readings

OLS 520: Comparative Perspectives on Business & Society

Reading maketh a full man; speaking a ready man; writing an exact man.

Francis Bacon (1561-1626)

“Why Some MBAs are Reading Plato, Kant”

What ideas in the article strike strike you the most?

“Why Some MBAs are Reading Plato, Kant”

What are the purposes of the MBA courses described in the article and are these legitimate topics to consider in

an MBA program?

“Why Some MBAs are Reading Plato, Kant”

Can we tell from the article what the author’s viewpoint on inclusion of these topics in MBA

programs is?

The Environment of Business

What forces in society have a major impact on business?

What type of impact do those forces have on business?

How has business responded to these forces?

How have these forces affected your job?

The Environment of Business

Four Views of Free-Market Capitalism

Karl Marx: Capitalism is an irredeemably corrupt and immoral economic system

which cannot exist without enriching a few by exploiting the labor of the many.

Four Views of Free-Market Capitalism

Friedrich Hayek: Capitalism is the pinnacle of economic systems and includes all the

principles by which society should be governed.

Four Views of Free-Market Capitalism

Daniel Yergin & Joseph Stanislaw: Capitalism is currently the only game in

town, is the economic system that generates the greatest amount of wealth,

but needs to prove that it benefits all members of society.

Four Views of Free-Market Capitalism

Sir Brian Griffiths: Affirms the morality of the market based on biblical teaching, but

argues that the operation of the market should not be viewed as an autonomous process and must be hedged by biblical

principles of love, economic justice, personal responsibility, and compassion.

Topic and Assignment for Next Class

The Purpose of Business: Its Stakeholders and their Claims

Reading due

“What’s a Business For?”“The Social Responsibility of Business is to

Increase its Profits”