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19 Jan

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marketing writing question and need an explanation and answer to help me learn. Requirements: Sean?D.?Jasso,?Ph.D.??The?Hippocratic?Oath?of?the?Manager:??Good?or?Bad?Idea??1??THE?HIPPOCRATIC?OATH?OF?THE?MANAGER:??GOOD?OR?BAD?IDEA???By?Sean?D.?Jasso,?Ph.D.???Philosophy?for?Business,?January?2010,?Issue?56??In?a?2009?Financial?Times?commentary,?Michael?Skapinker?addresses?a?growing?movement?of?business?school?students?taking?formal?oaths?promising?to?pay?equal?attention?to?shareholders,?co?workers,?customers?and?the?society?in?which?we?operatei.???In?essence,?new?MBAs?affirm?to?adhere?to?a?stakeholder?approach?to?management?as?opposed?to?the?age?old?shareholder?first?philosophy.???The?oath?is?intended?to?mirror?the?Hippocratic?Oath?taken?by?the?newly?graduated?medical?doctor,?the?attorneys?oath?taken?by?the?newly?appointed?lawyer?to?the?bar,?or?the?oath?taken?by?the?new?CPAii.??The??MBA?Oath?received?momentum?recently?at?Harvard?Business?School?through?the?scholarship?and?inspiration?of?professors?Rakesh?Khurana?and?Nitin?Nohria?in?which?the?two?argue?that?the?answer?to?businesss?crisis?is?to?turn?management?into?a?profession?like?medicine?or?lawiii.???Khurana?and?Nohrias?vision?is?noble?indeed,?but?nobility?and?practicality?are?not?always?aligned?nor?may?they?always?be?prudent.??Skapinker?remains?skeptical?about?the?trend?of?MBA?oaths,?but?the?apparent?movement?opens?the?door?for?serious?reflection?and?discussion?about?what?management?really?is?and?can?or?should?practitioners?of?management?publicly?affirm?primum?non?nocere???above?all,?not?knowingly?to?do?harm.???What?is?Management??Really???This?question?has?been?defined,?grappled,?adjusted,?improved,?refined,?and?customized?for?over?a?hundred?years.??Harvard,?for?example,?just?recently?celebrated?the?centennial?of?its?Business?School?in?2008?and?is?often?considered?the?epicenter?for?management?higher?education.??A?wide?literature?addresses?management?from?various?schools?of?thought?from?the?scientific,?behavioral,?to?the?organizational?to?name?just?a?few.??Among?the?more?famous?and?perhaps?practical?philosophers?of?management?is?Peter?F.?Drucker?who?identified?management?as?both?a?discipline?and?practice?indeed?not?easy?to?master?due?to?the?nonlinear?complexity?of?producing?what?management?is?designed?to?do??produce?effective?results.??Among?the?great?innovations?of?the?last?hundred?years?that?have?moved?society?forward?is?in?fact?management.??At?the?same?time,?many?other?thinkers?in?the?field?believe?that?management?has?become?out?dated?and?has?a?wide?canvas?to?improve?its?very?meaning.??Scholars?like?Gary?Hamel?for?example,?see?the?necessity?for?management?as?a?technology?where?not?only?is?the?stakeholder?approach?a?norm,?but?more?importantly,?strategic?decision?making?up?to?and?including?CEO?succession?can?happen?at?the?employee?level??indeed,?revolutionaryiv.??No?matter?what?school?of? Sean?D.?Jasso,?Ph.D.??The?Hippocratic?Oath?of?the?Manager:??Good?or?Bad?Idea??2??thought,?management?remains?the?cornerstone?of?organizational?productivity?and?progress.??Simply?put,?without?it,?entrepreneurship?could?never?flourish,?organizations?would?flounder,?and?resources?would?be?squandered.??Indeed,?fueling?the?need?for?management?is?competitionv??the?energy?that?forces?organizations?to?strive?to?create?the?best?value?for?all?of?its?stakeholders?with?the?aim?of?earning?value?for?itself.??Within?this?competitive?environment?there?are?winners?and?losers?and?the?winners?most?often?owe?their?achievement?to?effective?management.??At?the?very?foundation?of?management?lies?the?virtue?and?reality?of?the?forces?of?markets??the?economic?arena?where?risk?and?strategy?bare?fruit?or?failure.??There?is?little?debate?that?markets?which?are?well?regulated?and?open?to?competition?have?borne?results?for?the?stakeholder?environment??wealth?for?owners?and?investors,?employment?opportunities?for?the?best?qualified?and?innovative?products?and?services?for?customers?around?the?world.??Most?scholarship?and?practicing?managers?would?agree?that?the?successful?organization?that?produces?goods?and?services?for?society?has?evolved?into?a?stakeholder?entity.??Most?managers,?employees,?educators,?policy?makers,?owners,?investors,?suppliers,?and?customers?would?sensibly?agree?that?the?enterprise?of?the?2000s?can?only?flourish?when?all?of?the?various?stakeholders?listed?above?are?perceived?as?partners?in?the?organizations?sustainabilityvi.??In?fact,?the??shareholder?first?approach?to?running?a?business?has?seen?alternative?movements?that?put?the??customer?first?whereby?providing?a?world?class?customer?experience?yields?customer?loyalty?and?a?higher?probability?of?sustainable?revenues.??We?have?even?seen?trends?in?putting?the??employee?first,?the??nation?first,?and?the??environment?first.??All?of?these??firsts?are?admirable,?but?in?the?end?none?are?sustainable?without?the?broader?stakeholder?approach.??Regardless?of?the?trend,?at?the?center?of?any?enterprise?is?its?purpose??usually?created,?defined,?and?mobilized?by?an?entrepreneur?and?grown?by?the?manager.??Most?support?the?idea?that?the?worlds?great?products,?services,?and?solutions?have?been?created?by?entrepreneurs?energized?by?a?freedom?of?risk?taking,?fueled?by?the?virtue?of?competition,?launched?by?practitioners?of?management?to?facilitate?the?growth?of?the?idea,?and?yes??supported?by?a?return?on?investment?for?all?engaged?in?the?game.????Management??A?Profession???Before?we?get?to?the?bottom?of??good?or?bad?idea?of?MBAs?taking?oaths,?the?first?question?is?whether?the?MBA?might?in?fact?already?be?recognized?as?a?profession?akin?to?medicine,?law?or?accounting.??Properly?defined,?a??profession?is?an?occupation?that?requires?significant?study,?preparation,?and?specialization?of?a?particular?field.??Like?the?noted?professions,?the?MBA?does?require?significant?study?of?a?wide?field?of?knowledge.??The?field?of??business?administration?is?purposely?general??hence,?the?general?manager.????The?MBA?is?a?unique?degree?exposing?students?to?the?wide?scope?of?all?of?the?major?skills?required?to?run?an?organization??economics,?law,?accounting,?finance,?marketing,?operations,?quantitative?analysis,?organizational?behavior,?strategy?and?ethics?are?among?the?standards.??Programs?have?evolved?over?the?years?to?include?emphases?in?each?of?the?above?as?well?as?leadership,?entrepreneurship,?global?issues,?and?an?array?of?electives?upon?demand.??Upon?successful?completion?of?the?masters?in?business?administration?is?the?new?MBA?whose?academic,?occupation,?and?demographic?background?is?among?the? Sean?D.?Jasso,?Ph.D.??The?Hippocratic?Oath?of?the?Manager:??Good?or?Bad?Idea??3??most?diverse?student?bodies?of?the?professional?school?programs?of?most?universities.??It?is?not?uncommon?to?see?young?and?older?graduates?who?have?little?to?advanced?experience?in?every?field?imaginable?at?a?traditional?MBA?commencement.????Professions?are?also?characterized?as??practices?for?example,?a?doctor?practices?medicine?and?a?lawyer?practices?law.??The?implication?is?that?the?profession?is?more?of?an??art??never?fully?perfected?and?never?fully?evolved.??Schools?of?business?like?Harvard?are?well?known?for?their?approach?to?teaching?business??closer?to?a?science?rather?than?an?art.??The?case?method??a?Harvard?signature?approach?to?teaching??is?a?scientific?model?that?teaches?students?to?follow?a?template?based?on?real?scenarios.??To?provide?further?intellectual?diversity?for?students?seeking?business?education,?many?schools?over?the?years?recognize??management?to?be?the?art?and??business?to?be?the?science.??I?suggest?an?artful?balance?of?both.????Adding?support?to?the?idea?of?the??practice?of?management?is?the?well?known?philosophy?coined?by?Peter?Drucker?himself.?Drucker?professed?that?management?was?to?be?viewed?and?practiced?as?a??liberal?art?because?the?effective?manager?must?use?a?wide?set?of?liberal?skills?from?politics,?sociology,?history,?philosophy,?to?psychology,?among?many?others,?to?make?the?best?decision?for?the?organizationvii.??Like?the?art?of?medicine?and?law,?the?multitude?of?variables?impacting?a?management?decision?is?always?changing?requiring?artful?adaptation?by?a?professional.??So?to?this?end,?I?would?argue?that?management?is?already?a?profession?whether?one?has?an?MBA?or?not.??One?is?not?required?to?have?a?certification?to?be?an?entrepreneur?or?to?even?run?a?company??this?is?the?great?beauty?and?flexibility?of?the?market?system?and?its?bounty?of?creative?opportunity.???However,?the?value?of?the?MBA?is?that?one?has?successfully?completed?the?rigorous?and?formal?process?of?learning?the?critical?and?analytical?thinking?required?of?managers.??Can?these?skills?be?learned?independently?of?the?business?school??Perhaps.??But?society?has?and?continues?to?put?significant?value?upon?the?individual?with?formal,?certified?management?training.??This?is?evident?in?the?traditional?market?based?salaries?for?MBAs?that?remain?competitive?even?at?all?levels?of?the?economic?business?cycle.??Most?importantly,?however,?the?MBA?who?has?critical?thinking?skills??the?product?of?a?rigorous?university?program??continues?to?be?the?highest?value?added?resource?within?any?organization.???The?MBA?Oath??Yes?or?No???Now?to?the?question?of?whether?the?new?MBA?should?take?an?oath.??Indeed,?an?oath?can?add?symbolic?meaning?to?the?commencement?of?a?new?journey.??Most?would?agree?that?a?marriage?without?a?vow?is?not?a?marriage,?new?citizenship?without?an?oath?is?not?official,?and?a?presidential?inauguration?without?an?oath?(though?mandated?by?the?Constitution)?is?simply?impossible?to?imagine.??Returning?to?Skapinkers?commentary?introduced?above??his?Financial?Times?article?does?incorporate?a?balanced?debate.??Where?the?Harvard?management?professors?assert?that?the?MBA?should?be?a?professional?license?to?practice?management,?Skapinker?counters?this?idealism?with?a?dose?of?reality?suggesting?that?any?trend?toward? Sean?D.?Jasso,?Ph.D.??The?Hippocratic?Oath?of?the?Manager:??Good?or?Bad?Idea??4??Hippocratic?Oaths?of?MBAs?is?only?as?good?as?the?movement?grows?beyond?the?university.??In?fact,?there?is?no?apparent?sweeping?demand?from?the?large?stakeholder?environment?mandating?managers?to?have?a?certificate?or?license?on?their?office?wall?affirming?ones?oath?to?do?no?harm.??Moreover,?and?perhaps?most?relevant,?there?exists?no?authentic?regulatory?board?(analogous?to?the?medical,?legal,?and?accounting?professions)?to?monitor?the?fair?practice?and?fiduciary?responsibility?of?the?oath?mandated?manager.??Rather,?stakeholders?simply?want?to?see?results?attained?within?the?rule?of?law,?within?the?good?governance?of?the?firm,?and?within?the?fair?playing?field?of?the?marketviii.??Indeed,?the?purest?moral?certification?is?beyond?even?the?MBA?degree?and?the?practicing?manager?who?bares?its?name.??As?noted?above,?it?remains?the?simple?influence?of?competition??fair,?dynamic,?and?value?centered??that?affirms?all?the?certification?needed?where?buyers?and?sellers?negotiate?and?make?deals?based?on?good?information,?product?utility?and?price.??When?this?exchange?is?pure,?the?ethic?of?commerce?and?the?morality?of?the?market?require?no?oath?other?than?a?simple?hand?shakeix.??When?this?sacred?exchange?is?broken?by?fraud,?complacency?or?incompetence,?consumers?will?simply?demand?new?markets?to?replace?the?old.???At?the?core?of?the?Harvard?professors?vision?is?an?economy?where?market?failure?is?erased?or?minimized?by?the?licensed?practitioner.??This?is?noble,?but?unrealistic.??Additionally,?the?Harvard?vision?appears?to?suggest?that?a?fiduciary?responsibility?by?ones?managerial?oath?be?infused?as?a?guarantee?to?his?or?her?clients?best?interest?which?comes?before?individual?profitx.??Again,?this?is?noble,?but?unrealistic.??This?idealism?is?already?infused?in?a?well?regulated?market?system?whereby?profit?incentivizes?the?producer?to?innovate?and?compete?for?the?sustainability?of?the?organization?made?possible?only?by?strategically?connecting?to?the?consumer?by?marketing?products?and?services?with?the?right?quality,?at?the?right?price,?at?the?right?location,?within?the?rule?of?law.??Should?the?enterprise?seek?an?alternative?strategy?outside?of?this?consumer?driven?market,?the?evidence?is?strong?that?revenues?will?fall,?costs?will?rise,?and?profits?will?diminish.??No?oath?can?guide?this?arena?of?exchange?better?than?the?existing?social?contract.??The?MBA?is?a?manager?of?risk?for?the?benefit?of?a?complex,?multi?stakeholder?constituency.??For?example,?terminating?thousands?of?employees?for?the?sustainability?of?the?firm?up?to?and?including?macroeconomic?development?is?often?a?necessary?management?decision?even?as?difficult?or?unpopular?the?consequences?might?be.??The?question?for?society?is?whether?a?managers?decision?would?be?any?different?if?an?oath?affirming?his?or?her?honor?to?do?no?harm?would?make?a?difference?and,?most?importantly?for?whom???Skapinkers?article?begins?with?a?focus?on?the?trend?of?schools?of?business?incorporating?the?oath?into?their?programs?and?the?Harvard?professors?seem?to?exploit?a?down?economy?influenced?by?corporate?corruption?as?one?of?the?reasons?behind?the?crisis.?????In?a?market?based?economy?where?business,?government,?and?society?are?interdependent,?the?idea?of?requiring?MBAs?to?take?an?oath?to?effectively?manage?an?organizations?assets?and?liabilities?for?the?good?of?society?is?much?like?asking?new?parents?to?take?an?oath?affirming?they?will?do?no?harm,?minimize?risk,?and?ensure?a?holistic?balance?of?the?childs?development?for?the?good?of?humanity.?Simply?put,?good?managers?will?navigate?the?organization?toward?results?and?ineffective?managers?will?be?expelled?by?the?most?powerful?measure?of?them?all??the?consumer?and?the?owner?each?demanding?value?for?their? Sean?D.?Jasso,?Ph.D.??The?Hippocratic?Oath?of?the?Manager:??Good?or?Bad?Idea??5??investment.??As?stated?in?the?opening,?the?purpose?of?this?article?is?for?all?stakeholders?of?the?business?enterprise?to?engage?in?a?debate?of?serious?reflection?as?to?what?management?means?in?society??particularly?in?the?society?of?tomorrow.??There?is?no?disagreement?that?the?general?welfare?of?a?global?community?linked?by?markets?requires?good?management?practiced?by?ethical?decision?makers.??Yet,?what?remains?to?be?seen?is?to?what?degree?consumers?of?this?market?system?place?on?the?authenticity?of?those?who?earn?a?degree?in?management.??Though?the?Hippocratic?Oath?of?the?Manager?may?inspire?new?MBAs?to?do?no?harm,?the?validity?of?the?good?manager?is?much?deeper?than?any?oath.??As?stated?throughout?this?article,?the?well?regulated,?dynamic,?and?competitive?market?will?take?care?of?the?bad?behavior.????At?the?dawn?of?the?new?decade?in?an?era?where?globalization?of?trade?and?ideas?shows?only?forward?momentum,?the?effective?manager?will?be?the?one?who?embraces?the?freedom?of?opportunity?with?the?responsibility?of?managing?risk?for?a?wide?stakeholder?environment?dependent?on?the?firms?sustainability.??So,?to?answer?our?original?riddle?of?the?management?oath??good?or?bad?idea???As?argued,?the?oath?need?not?take?place?at?the?commencement?of?a?degree,?but?rather?in?the?quiet?of?the?managers?heart?because?the?morality?of?the?market?is?nothing?without?the?morality?of?the?good?man?or?the?good?woman.??Perhaps?the?better?question?we?must?ask?of?managers?is?actually?the?simplest?of?them?all??what?do?you?stand?for??????????????????????????????????????????????????????????????????????i?Financial?Times,?June?23,?2009?ii?Khurana,?Rakesh?and?Nohria,?Nitin?(2008)?Harvard?Business?Review?(October),?pp.?70?77.?iii?Financial?Times,?June?23,?2009?iv?Hamel,?Gary?(2007).??The?Future?of?Management?(with?Bill?Breen).??Boston,?MA:?Harvard?Business?School?Press.?v?Porter,?Michael?(2008).??On?Competition:??Updated?and?Expanded?Edition.??Boston,?MA:?Harvard?Business?School?Press.?vi?Carroll,?Archie?B.,?and?Buchhotz,?Ann?K.?(2008).?Business?and?Society:?Ethics?and?Stakeholder?Management,?7th?Ed.??Florence,?KY:?South?Western?Cengage.??vii?Drucker,?Peter?F.?(2008)?Management:?Revised?Edition?(with?Joseph?A?Maciariello).??New?York,?NY:?Harper?Collins.?viii?De?Kluyver,?Cornelis?A.?(2009).??A?Primer?on?Corporate?Governance.??Williston,?VT:?Business?Expert?Press.?ix?Zak,?Paul?J,?Ed.?(2008).??Moral?Markets:?The?Critical?Role?of?Values?in?the?Economy.??Princeton,?NJ:?Princeton?University?Press.?x?Khurana,?Rakesh?and?Nohria,?Nitin?(2008)?Harvard?Business?Review?(October),?p.?72.?...