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  • 1.  AW: [ENTREP] thinking a lot about the global financial crisis

    Posted 10-16-2008 14:15
    A great idea! Suggestion:
     
    Market, Regulation and Management - how to consult students to ethical managers (maybe in an international context)

    Von: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] Im Auftrag von Bill Todorovic, IPFW
    Gesendet: Donnerstag, 16. Oktober 2008 00:24
    An: ENTREP@AOMLISTS.PACE.EDU
    Betreff: Re: [ENTREP] thinking a lot about the global financial crisis

    I concur - these are important questions to answer. Keeping our education relevant and effective requires some introspection.

     

    I feel that we need to teach students the need for balance; a balance between regulation and free enterprise, between rights and duties, between insight and foresight. This may be especially the case in regions where conservative viewpoints abound, like Indiana, where there are highly entrenched values and beliefs.

     

    Do you think that we would all benefit from a special issue on this topic?

     

    Cheers 

    Bill

     

    Dr. Želimir William Todorovic
    Division Chair, Entrepreneurship and Family Division
    Administrative Sciences Association of Canada

    Richard T. Doermer School of Business and Management
    Indiana - Purdue University, Fort Wayne
    2101 E. Coliseum Blvd.
    Fort Wayne, Indiana, 46805-1499
    Web:http://users.ipfw.edu/todorovz/
    e-mail: todorovz@ipfw.edu
    (260) 481 6940

    ----- Original Message -----
    Sent: Tuesday, October 14, 2008 10:53 AM
    Subject: [ENTREP] thinking a lot about the global financial crisis

    Probably much like you, I have been thinking a lot about the global financial crisis.  I got my retirement fund report last week.  So when was I planning to retire?

     

    It seems to me that the global financial crisis involves institutions who rather than operate a sustainable system created a house of cards the fall of which we will all likely suffer for years to come.  Instead of hard work financial institutions have operated a gimmick packed shell game they thought they were smart enough to control.  They thought they could borrow money from people who did not have it to lend and lend money to people who could not afford to pay it back.  Experience proved them wrong. 

     

    The wisdom of these actions is questionable from a variety of perspectives.  Certainly the financial experts, regulators, politicians and the news media are busy pointing fingers.  But how do we avoid these situations in the future?

     

    As an educator, it seems a common denominator in all this is the education both those who work in the financial industry and our politicians on both sides of the aisle received at university.  Indeed, one might well question the training of those who run the financial institutions.  These institutions aggressively recruited graduates of the best universities.  Graduates have often been encouraged to believe that the goal is to ensure their bonuses by increasing earnings by these institutions as much as possible regardless of the means.  Alumni working for these institutions have also used their financial contributions to influence their alma mater's policies and practices.

     

    In order to avoid these crises in future we might ask ourselves, how many of our graduates work in these institutions?

     

    What is it that they were taught or not taught?

     

    What is it that they learned or failed to learn?

     

    What lessons do universities, faculty need to learn from this crisis to help future graduates learn not to let this happen again?

     

    What is the role of agencies accrediting universities and academic programs?

     

    What is the role of our teaching, research, and service?

     

    Faculty have the opportunity to apply their scholarly activities to help solve problems that face the larger community beyond the boundaries of campus, to integrate student learning with the scholarship of engagement, to advance the pedagogy, as well as, to investigate issues of interest within and across academic disciplines. 

     

    How might that scholarship better prepare our graduates to ensure that playing with cards is understood as a game and not a way to manage financial institutions?

     

    What do you think?

     

    Cheers,

    Chris

     

     

    Dr. Christopher Pratt

    Associate Dean for Academic Affairs

    Professor of Business Administration

    Senior Policy Fellow, Institute for the Economy and the Future

    College of Business Western Carolina University http://www.wcu.edu/2517.asp

    282 Belk Building Cullowhee, NC 28723 cgpratt@wcu.edu

    Office: +828-227-3498  Fax: +828-227-7075              

    Cell: +828-450-5692  BB Mobile: +828-545-7028

     

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO! ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!


  • 2.  AW: [ENTREP] thinking a lot about the global financial crisis

    Posted 10-16-2008 16:09

    Ahh, one of my favourite topics.

     

    For me the issue is not so much ethics but also the whole philosophy some, not all business professors have regarding approach.  I believe, like many of my colleagues that we do have some responsibility for the collapse of the system.  I work in a business school, however I do not see management, or entrepreneurship for that matter as an activity, nor do I see it  as our job to 'train' the business managers of the future.

     

    For me the our subjects are only a vehicle by which we can illustrate analytical thinking, investigation and advanced communication skills.  What I see happing  in the markets could be as a result of teaching that 'groomed' students for a job; more to the point groomed them within a narrow paradigm of what constitutes "best business practice". Maybe what we are witnessing is a collapse of a system, due to the last 100 odd years of acceptance of a paradigm that now looks to be one that cannot cope with too much complexity.  Maybe we need to rethink the nature of the business school within the university and perhaps see it only as a vehicle for education – not a training ground for future jobs in commerce?

     

    The real issue is – why did enough of us not see this coming and if we did why were we not more vocal in our opposition to the situation?

     

    Anyway I would be happy to continue discussions off line if there is interest in collaboration?

     

    Enjoy the weekend people,

     

    Kind Regards

     

     

     

    From: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] On Behalf Of Alexander Brem
    Sent: Friday, 17 October 2008 7:15 a.m.
    To: ENTREP@AOMLISTS.PACE.EDU
    Subject: [ENTREP] AW: [ENTREP] thinking a lot about the global financial crisis

     

    A great idea! Suggestion:

     

    Market, Regulation and Management - how to consult students to ethical managers (maybe in an international context)

     

    Von: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] Im Auftrag von Bill Todorovic, IPFW
    Gesendet: Donnerstag, 16. Oktober 2008 00:24
    An: ENTREP@AOMLISTS.PACE.EDU
    Betreff: Re: [ENTREP] thinking a lot about the global financial crisis

    I concur - these are important questions to answer. Keeping our education relevant and effective requires some introspection.

     

    I feel that we need to teach students the need for balance; a balance between regulation and free enterprise, between rights and duties, between insight and foresight. This may be especially the case in regions where conservative viewpoints abound, like Indiana, where there are highly entrenched values and beliefs.

     

    Do you think that we would all benefit from a special issue on this topic?

     

    Cheers

    Bill

     

    Dr. Želimir William Todorovic
    Division Chair, Entrepreneurship and Family Division
    Administrative Sciences Association of Canada

    Richard T. Doermer School of Business and Management
    Indiana - Purdue University, Fort Wayne
    2101 E. Coliseum Blvd.
    Fort Wayne, Indiana, 46805-1499
    Web:http://users.ipfw.edu/todorovz/
    e-mail: todorovz@ipfw.edu
    (260) 481 6940

    ----- Original Message -----

    Sent: Tuesday, October 14, 2008 10:53 AM

    Subject: [ENTREP] thinking a lot about the global financial crisis

     

    Probably much like you, I have been thinking a lot about the global financial crisis.  I got my retirement fund report last week.  So when was I planning to retire?

     

    It seems to me that the global financial crisis involves institutions who rather than operate a sustainable system created a house of cards the fall of which we will all likely suffer for years to come.  Instead of hard work financial institutions have operated a gimmick packed shell game they thought they were smart enough to control.  They thought they could borrow money from people who did not have it to lend and lend money to people who could not afford to pay it back.  Experience proved them wrong. 

     

    The wisdom of these actions is questionable from a variety of perspectives.  Certainly the financial experts, regulators, politicians and the news media are busy pointing fingers.  But how do we avoid these situations in the future?

     

    As an educator, it seems a common denominator in all this is the education both those who work in the financial industry and our politicians on both sides of the aisle received at university.  Indeed, one might well question the training of those who run the financial institutions.  These institutions aggressively recruited graduates of the best universities.  Graduates have often been encouraged to believe that the goal is to ensure their bonuses by increasing earnings by these institutions as much as possible regardless of the means.  Alumni working for these institutions have also used their financial contributions to influence their alma mater's policies and practices.

     

    In order to avoid these crises in future we might ask ourselves, how many of our graduates work in these institutions?

     

    What is it that they were taught or not taught?

     

    What is it that they learned or failed to learn?

     

    What lessons do universities, faculty need to learn from this crisis to help future graduates learn not to let this happen again?

     

    What is the role of agencies accrediting universities and academic programs?

     

    What is the role of our teaching, research, and service?

     

    Faculty have the opportunity to apply their scholarly activities to help solve problems that face the larger community beyond the boundaries of campus, to integrate student learning with the scholarship of engagement, to advance the pedagogy, as well as, to investigate issues of interest within and across academic disciplines. 

     

    How might that scholarship better prepare our graduates to ensure that playing with cards is understood as a game and not a way to manage financial institutions?

     

    What do you think?

     

    Cheers,

    Chris

     

     

    Dr. Christopher Pratt

    Associate Dean for Academic Affairs

    Professor of Business Administration

    Senior Policy Fellow, Institute for the Economy and the Future

    College of Business Western Carolina University http://www.wcu.edu/2517.asp

    282 Belk Building Cullowhee, NC 28723 cgpratt@wcu.edu

    Office: +828-227-3498  Fax: +828-227-7075              

    Cell: +828-450-5692  BB Mobile: +828-545-7028

     

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!


  • 3.  AW: [ENTREP] thinking a lot about the global financial crisis

    Posted 10-17-2008 10:37
    Chris, thanks for initiating this discussion. I have enjoyed reading the responses that others have shared so far.
    Regardless of what issues, approaches, institutions, or individuals we believe to be linked to the financial crisis, it is time for some serious soul searching on the role we have played so far and whether/what role we should play in the future on preventing such problems.
    Perhaps a pdw would help folks come together to share their varied perspectives and stimulate further thought and action on the topic - what do you all think?
    Cheers,
    Manjula Salimath
    ________________________________________
    From: Entrepreneurship Division Listserv [ENTREP@AOMLISTS.PACE.EDU] On Behalf Of Cardow, Andrew [A.Cardow@MASSEY.AC.NZ]
    Sent: Thursday, October 16, 2008 3:08 PM
    To: ENTREP@AOMLISTS.PACE.EDU
    Subject: Re: [ENTREP] AW: [ENTREP] thinking a lot about the global financial crisis

    Ahh, one of my favourite topics.

    For me the issue is not so much ethics but also the whole philosophy some, not all business professors have regarding approach. I believe, like many of my colleagues that we do have some responsibility for the collapse of the system. I work in a business school, however I do not see management, or entrepreneurship for that matter as an activity, nor do I see it as our job to ‘train’ the business managers of the future.

    For me the our subjects are only a vehicle by which we can illustrate analytical thinking, investigation and advanced communication skills. What I see happing in the markets could be as a result of teaching that ‘groomed’ students for a job; more to the point groomed them within a narrow paradigm of what constitutes “best business practice”. Maybe what we are witnessing is a collapse of a system, due to the last 100 odd years of acceptance of a paradigm that now looks to be one that cannot cope with too much complexity. Maybe we need to rethink the nature of the business school within the university and perhaps see it only as a vehicle for education – not a training ground for future jobs in commerce?

    The real issue is – why did enough of us not see this coming and if we did why were we not more vocal in our opposition to the situation?

    Anyway I would be happy to continue discussions off line if there is interest in collaboration?

    Enjoy the weekend people,

    Kind Regards



    From: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] On Behalf Of Alexander Brem
    Sent: Friday, 17 October 2008 7:15 a.m.
    To: ENTREP@AOMLISTS.PACE.EDU
    Subject: [ENTREP] AW: [ENTREP] thinking a lot about the global financial crisis

    A great idea! Suggestion:

    Market, Regulation and Management - how to consult students to ethical managers (maybe in an international context)

    ________________________________
    Von: Entrepreneurship Division Listserv [mailto:ENTREP@AOMLISTS.PACE.EDU] Im Auftrag von Bill Todorovic, IPFW
    Gesendet: Donnerstag, 16. Oktober 2008 00:24
    An: ENTREP@AOMLISTS.PACE.EDU
    Betreff: Re: [ENTREP] thinking a lot about the global financial crisis
    I concur - these are important questions to answer. Keeping our education relevant and effective requires some introspection.

    I feel that we need to teach students the need for balance; a balance between regulation and free enterprise, between rights and duties, between insight and foresight. This may be especially the case in regions where conservative viewpoints abound, like Indiana, where there are highly entrenched values and beliefs.

    Do you think that we would all benefit from a special issue on this topic?

    Cheers
    Bill

    Dr. Želimir William Todorovic
    Division Chair, Entrepreneurship and Family Division
    Administrative Sciences Association of Canada
    Richard T. Doermer School of Business and Management
    Indiana - Purdue University, Fort Wayne
    2101 E. Coliseum Blvd.
    Fort Wayne, Indiana, 46805-1499
    Web:http://users.ipfw.edu/todorovz/
    e-mail: todorovz@ipfw.edu<mailto:todorovz@ipfw.edu>
    (260) 481 6940
    ----- Original Message -----
    From: Christopher Pratt<mailto:cgpratt@EMAIL.WCU.EDU>
    To: ENTREP@AOMLISTS.PACE.EDU<mailto:ENTREP@AOMLISTS.PACE.EDU>
    Sent: Tuesday, October 14, 2008 10:53 AM
    Subject: [ENTREP] thinking a lot about the global financial crisis

    Probably much like you, I have been thinking a lot about the global financial crisis. I got my retirement fund report last week. So when was I planning to retire?

    It seems to me that the global financial crisis involves institutions who rather than operate a sustainable system created a house of cards the fall of which we will all likely suffer for years to come. Instead of hard work financial institutions have operated a gimmick packed shell game they thought they were smart enough to control. They thought they could borrow money from people who did not have it to lend and lend money to people who could not afford to pay it back. Experience proved them wrong.

    The wisdom of these actions is questionable from a variety of perspectives. Certainly the financial experts, regulators, politicians and the news media are busy pointing fingers. But how do we avoid these situations in the future?

    As an educator, it seems a common denominator in all this is the education both those who work in the financial industry and our politicians on both sides of the aisle received at university. Indeed, one might well question the training of those who run the financial institutions. These institutions aggressively recruited graduates of the best universities. Graduates have often been encouraged to believe that the goal is to ensure their bonuses by increasing earnings by these institutions as much as possible regardless of the means. Alumni working for these institutions have also used their financial contributions to influence their alma mater's policies and practices.

    In order to avoid these crises in future we might ask ourselves, how many of our graduates work in these institutions?

    What is it that they were taught or not taught?

    What is it that they learned or failed to learn?

    What lessons do universities, faculty need to learn from this crisis to help future graduates learn not to let this happen again?

    What is the role of agencies accrediting universities and academic programs?

    What is the role of our teaching, research, and service?

    Faculty have the opportunity to apply their scholarly activities to help solve problems that face the larger community beyond the boundaries of campus, to integrate student learning with the scholarship of engagement, to advance the pedagogy, as well as, to investigate issues of interest within and across academic disciplines.

    How might that scholarship better prepare our graduates to ensure that playing with cards is understood as a game and not a way to manage financial institutions?

    What do you think?

    Cheers,
    Chris


    Dr. Christopher Pratt
    Associate Dean for Academic Affairs
    Professor of Business Administration
    Senior Policy Fellow, Institute for the Economy and the Future
    College of Business Western Carolina University http://www.wcu.edu/2517.asp
    282 Belk Building Cullowhee, NC 28723 cgpratt@wcu.edu<mailto:cgpratt@wcu.edu>
    Office: +828-227-3498 Fax: +828-227-7075
    Cell: +828-450-5692 BB Mobile: +828-545-7028

    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!
    ************************************** This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management. Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list. You can manage your subscription options, including joining or leaving the list here: http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1 If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu. Ventures HO!

    **************************************
    This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management.

    Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list.

    You can manage your subscription options, including joining or leaving the list here:
    http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1

    If you have questions or need help, please contact Dr. John Bunch jbunch@benedictine.edu.

    Ventures HO!