Why MBAs should not sign the Harvard Business School oath

Theo Vermaelen, Insead Professor Of Finance

Click here for the article from INSEAD Knowledge, 25 November, 2009

Harvard MBAs have proposed that all MBA students sign an oath. The oath can be found on http://mbaoath.org/take-the-oath.  It pledges, among other things, to "contribute to the well-being of society" and to "create sustainable economic, social and environmental prosperity worldwide."

I don't believe that this is a good idea, for three reasons. First, some parts of the pledge are inconsistent with fiduciary duties and ethical standards. Second the oath is a misplaced response to the financial crisis. Third, I don't believe in pledges as an instrument to guide people's behaviour...