Comment on Node ant

Y Araki — Fri, 05 Dec 2008 23:03:09 -0500

Corinthia,

Thank you for your comments. I agree that business schools should not be held solely accountable for the bad business practices that led to the financial crisis and that was not the message I intended to send out. I agree that one’s moral values are developed at a much earlier stage and most are developed outside the classroom.

Business Schools and the Financial Crisis

Y Araki — Sat, 29 Nov 2008 23:44:52 -0500

A large number of articles have been asking the question of whether business schools are to be blamed for the financial crisis. I believe the question that should be asked is not whether business schools are to be blamed of, but how can business schools help prevent such mistakes from occurring again?

Comment on Node ant

Y Araki — Sat, 29 Nov 2008 17:04:10 -0500

One area of interest is how Costco will select and prepare the successor to Sinegal. Sinegal is 72 years old and Costco faces the tough question of whether the company will be able to continue the moral leadership model Sinegal has created. The Costco brand reflects the values and ethical practices of Sinegal and a successor in alignment with such values is critical for Costco’s future success.

Comment on Node ant

Y Araki — Fri, 28 Nov 2008 17:03:41 -0500

I wanted to add a comment that Sinegal’s values are well reflected in Costco’s code of ethics. Sinegal approached the pressure from Wall Street by sticking to Costco’s code of ethics, which puts customers and employees first and then rewards shareholders. Leaders should be accountable for moral climates they create as it can have a large influence on the organization. Having a leader with moral values that one can respect is essential to maintain the highest ethical practices in a workplace and I think Sinegal is a role model of such morally effective leadership.

Comment on Node ant

Y Araki — Thu, 27 Nov 2008 00:53:12 -0500

I respect Sinegal’s decision to resist Wall Street’s pressure to become a less generous employer by taking leadership in treating employees well with generous salaries and benefits. Wall Street analysts tend to focus on short-term results for their own interest (money); however, effective leaders need to look at both short-term and long-term results and decide what is best for the company and its stakeholders. I believe treating employees fairly results in providing mutual benefits to all stakeholders in the long-term. Happy employees create happy and loyal customers.