After the involvement of big names like Vijay Mallya and Nirav Modi in scams worth thousands of crores came into light, it has shaken the entire nation and the overall Indian economy. The frauds undertaken by them has further deteriorated the reputation of popular banks in the country who had provided loans to them for their 'business'.
In order to deal with such cases and to further put an end to them, popular Indian b-schools such as IIMs (Indian Institutes of Management), SPJIMR Mumbai and XLRI Jamshedpur have decided to include case studies on Nirav Modi and Vijay Mallya in the curriculum. The course will be structured in such a way that students are able to identify loopholes and understand basic business ethics. Their study and research will also facilitate them to come up with ways to avoid such scandals in future. Apart from Nirav Modi and Vijay Mallya cases, the b-schools will also include case studies on the Infosys row, Punjab National Bank (PNB) fraud, Uber scandal as a part of the business ethics course.
Chairperson of the MBA Course at IIM Bangalore, Ms. Padmini Srinivasan revealed that courses such as ethics and corporate governance will influence the students to move beyond a skill-building objective and provide the knowledge of a more purposeful existence that shall be aimed at bringing a change in the society. If changes are incorporated in the course structure, it will lead to a positive mindset among students.
Business Ethics Courses at Top B-schools:
- SPJIMR Mumbai offers a unique mix of traditional and experiential learning methods. The business ethics course of SPJIMR Mumbai comprises of interviews with top business & industry leaders with an objective to understand the value of business ethics and problems faced by businesspersons while taking critical decisions. Such interactive sessions impact the decision-making ability of the students.
- XLRI Jamshedpur, on the other hand, has added 30 business case studies with a motive to enable students to understand the contemporary issues that are being faced by the corporate world.
- IIM Kozhikode has included India-centric studies in its business ethics course while focusing on the corporate world.
The top b-schools are trying to produce talent who have strong values and business ethics so that they can be hired by companies in large numbers in the time to come.
The PNB Scam is regarded as the biggest banking swindle in the Indian history and is worth Rs. 14,000 crore. It involves Nirav Modi who fled away after committing a fraud of Rs. 11,000 crore. On the other hand, Vijay Mallya ditched popular banks in India by evading payment of loans.