The Impact of Business Education on Business Students’ Attitudes to the Responsibility of Business in Society Nordplus Neighbour Seminar ”Contextual Approaches to Responsibility in Business Management and Leadership” Jyväskylä, Finland 13.–15. June 2006
The Impact of Business Education on Business Students’ Attitudes to the Responsibility of Business in Society Nordplus Neighbour Seminar ”Contextual Approaches to Responsibility in Business Management and Leadership” Jyväskylä, Finland 13.–15. June 2006
Research Group
Anna-Maija Lämsä
Meri Vehkaperä
Hanna-Leena Pesonen
Tuomas Puttonen
University of Jyväskylä
School of Business and Economics
Finland
Structure of the Presentation
The objective, method, and focus of the study
Cornerstones of the theoretical framework
Empirical data and questionnaire
Main results
Conclusion and summary
The Objective, Method and Focus of the Study
We will answer the following questions:
- How do business students define a well-run company?
- What are their attitudes toward responsibilities of business in society?
- How do their attitudes change during business education?
Focus on business students, who will be future decision-makers and responsible for what kind of business practices and values are considered good and appropriate in future society.
A cross-sectional and an exploratory empirical survey.
Cornerstones of the Theoretical Framework
Socialization theories (Berger and Luckmann, 1966).
Concept of an attitude (Fishbein and Ajzen, 1975) Corporate social responsibility (Carroll, 1979; 1991; 1999) and stakeholder theory (Donaldson ja Preston, 1995; Freeman, 1984)
Empirical Data and Questionnaire
217 business students aiming to master’s degree at two universities in Finland
53 % at the beginning of their studies
56 % females
Age between 19 and 59 years
Majority (73 %) born 1978-84.
Questionnaire same as in the study by The Aspen Institute’s Initiative for Social Innovation through Business, Aspen ISIB (Where will they lead? 2002) (applied at 13 universities).
Data gatherings in 2003-2006, conducted in classroom settings on voluntary and anonymous basis
What Are the Characteristics of a Well-Run Company?
The Characteristics of a Well-Run Company Depending on the Phase of Studies
The twelve characteristics were analyzed by t-tests from the phase of studies point of view. Only one statistically significant difference were found.
The students who were at the end of their studies found attractiveness as an employer more important than students at the beginning (p=0.044*)
What Are Primary Responsibilities of a Company?
% of students
1. Satisfy customer needs 88 %
2. Invest in the growth and well-being of employees 63 %
3. Produce useful and high-quality goods/services 51 %
4. Comply with all laws and regulations 23 %
5. Maximize value for shareholders 22 %
6. Offer equal-opportunity employment 19 %
7. Create value for the local community
in which it operates 6 %
8. Enhance environmental conditions 6 %
9. Ensure confidentiality and control the use or
transfer of information 4 %
The Primary Responsibilities of a Company Depending on the Phase of Studies
The data was analyzed by chi-square tests from the phase of studies point of view.
It was found out that there were statistically significant differences in two of the responsibilities:
Maximizing value for shareholders was viewed as more important responsibility by the students who were at the end of their studies (p=0.015*)
Offering equal-opportunity employment was viewed as more important by the students at the beginning (p=0.048*)
Conclusion and Summary
Business students viewed a well-run company as a web of relationships and according to them, employees and customers were the most important stakeholders for a well-run company. At the same time offering high financial return to shareholders was viewed the least important character of a well-run company. The two primary responsibilities of a company were to satisfy customer needs and invest in growth and well-being of employees.
Conclusion and Summary
Our conclusion is that business students - future leaders - may be better socialized to the stakeholder model of a company when compared to the shareholder model.
We also conclude that future decision-makers will view the role of people as a central element to the success for companies.
Conclusion and Summary
Our study shows that there are differences in the attitudes of business students according to phase of their studies.
Students at the end of their studies viewed maximizing value for shareholders more important compared to those at the beginning. Those at the beginning viewed offering equal-opportunity employment more important.
Conclusion and Summary
Based on our findings we conclude that business education has such impact of students’ attitudes that the importance of the shareholder model increases during education.
Seen from the adopted theoretical framework we need to ask: are we as business school educators creating undesired business practices?
Future Research
What are the moderating factors in business school context?
What is the role of business students’ gender on how they define a well-run company and what they see as primary responsibilities of a company?
Does the gender of the business students affect on how business education effects on person’s attitudes toward the responsibility of business in society?
The follow-up study to find out the effects of business education and work-experience in business world on person’s attitudes toward the responsibility of business in society.
Comments