Evaluating the impact of including ethical studies in business schools' curriculum for better corporate social governance in organisations

Multiple reasons can cause unethical behaviour. Among the rest, lack of proper training regarding ethics can play a substantial role in ethically questionable activities. The provision of ethics education to college and university students who will become executives, employees and entrepreneurs in the near future is significant for improving ethical standards within the business lifespan. Raising ethical leaders is usually one of the most challenging issues that business schools across the world are confronting currently. Determination of ethical materials to be offered to the students, selection of the faculty members for transferring the knowledge of ethics and assessment of the student's learning outcomes are the most prevalent issues to be addressed with priority by all business colleges and universities. This study has aimed to examine whether the inclusion of business ethics in the curriculum of colleges and universities can change the perception regarding ethical issues and ethical intentions of the business students. This research has coherent objectives of investigating the existing ethical education within the business schools in Ireland and India. Also, the study has attempted to highlight the significance of ethical practices for traders in decision-making. After evaluating these domains, the thesis has investigated the existing corporate scandals witnessed by the financial brokerage firms of these countries and suggested better implications to improve the inclusion of ethical education in the business schools' curriculum. A semi-structured interview has been carried out among the professors of the Indian business schools and two stockbrokers from Ireland and India to understand the role of the curriculum containing ethical practices in shaping future entrepreneurs. Also, the paper has focused on the financial brokerage firms of India and Ireland to determine how the ethical studies in the business school provide the stockbrokers with a better opportunity to run their business ethically by gaining the utmost trust and loyalty from the investors. The findings from the interview and secondary sources have indicated the quintessence of ethical education for developing corporate governance and ethical decision-making. Also, the findings have revealed that the corporate scams like Satyam computer, Kingfisher Airlines, PNB in India and Davy Stockbrokers, and Irish investors scam in Ireland are significantly capable of providing the students with more in-depth exposure to the ethical dilemmas that the organizations confront. The students thus become accustomed to making their own ethical decisions by studying the case studies. However, business schools must prioritize ethical studies as a mandatory subject to enable the students to get involved within these practices and embellish their careers as ethical traders in the near future. The government should also take a voluntary and agile role in efficiently addressing unethical corporate scandals by mandating ethical education in schools, colleges, and universities.