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125-661: The École Supérieure des Sciences Economiques et Commerciales , more commonly known as ESSEC Business School or simply ESSEC , is a business school and grande école based in France. Founded in 1907, its principal campus is located in Cergy in the île-de-France region, but also has locations in La Défense , Rabat , and Singapore . Founded by Jesuits in response to the creation of HEC Paris , it remained independent of any chamber of commerce and industry before passing it in 1981 under

250-543: A corporate psychopath is in charge. This will not only affect the company and its outcome but the employees who work under a corporate psychopath. The way a corporate psychopath can rise in a company is by their manipulation, scheming, and bullying. They do this in a way that can hide their true character and intentions within a company. Fundamentally, finance is a social science discipline. The discipline borders behavioral economics , sociology , economics , accounting and management . It concerns technical issues such as

375-411: A "soft" approach that regards employees as a source of creative energy and participants in workplace decision making, a "hard" version explicitly focused on control and Theory Z that emphasizes philosophy, culture and consensus. None ensure ethical behavior. Some studies claim that sustainable success requires a humanely treated and satisfied workforce. Marketing ethics came of age only as late as

500-476: A bachelor's degree is tuition-free at public intuitions in several countries: Austria , Cyprus , Czech Republic , Denmark , Estonia , Finland , Germany , Greece , Malta , Montenegro , Norway , Poland , Scotland , Slovakia , Slovenia , Sweden , Turkey . In the German education system , most universities do not charge tuition, except for some executive MBA programs. French tuition fees are capped based on

625-443: A business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. These ethics originate from individuals, organizational statements or the legal system. These norms, values, ethical, and unethical practices are the principles that guide a business. Business ethics refers to contemporary organizational standards, principles, sets of values and norms that govern

750-526: A business to be ethical and that violating that expectation must be counterproductive for the business. Ethical issues include the rights and duties between a company and its employees, suppliers, customers and neighbors , its fiduciary responsibility to its shareholders . Issues concerning relations between different companies include hostile take-overs and industrial espionage . Related issues include corporate governance ; corporate social entrepreneurship ; political contributions ; legal issues such as

875-527: A changing environment in verses 474, 426, and 140, learning the intricacies of different tasks in verses 462 and 677. Business ethics reflects the philosophy of business , of which one aim is to determine the fundamental purposes of a company. Business purpose expresses the company's reason for existing. Modern discussion on the purpose of business has been freshened by views from thinkers such as Richard R. Ellesworth, Peter Drucker , and Nikos Mourkogiannis : Earlier views such as Milton Friedman's held that

1000-540: A community colleges, charge $ 3,730 (€3,154) on average for in-state students, but these institutions usually do not offer Bachelors or MBA degrees. Private institutions in the United States all charge tuition, often considerably more than their public counterparts. Business ethics Business ethics (also known as corporate ethics ) is a form of applied ethics or professional ethics , that examines ethical principles and moral or ethical problems that can arise in

1125-402: A company longer is passed over for a promotion, but it is not unethical. It is only unethical if the employer did not give the employee proper consideration or used improper criteria for the promotion. Each employer should know the distinction between what is unethical and what is illegal. If an action is illegal it is breaking the law but if an action seems morally incorrect that is unethical. In

1250-599: A complex circumstances, marked by the Dreyfus affair (1895) and the law of separation of Church and State (1905), the Church sought to regain influence, in particular by disseminating its moral values in the economic world and by training a new generation of business leaders. ESSEC became the Catholic Church response to the creation of HEC in the context of struggle of religious congregations , especially between Jesuits against

1375-540: A decision was taken by ESSEC to move to a new site in the town of Cergy-Pontoise where the current campus is located. During this time, ESSEC was able to breaking free from the ICP. In 1968, the latter recognized the financial and administrative independence of the school. In 1969, the ESSEC group was founded, consisting of the school, CERESSEC, a Research Center and ISSEC, an institute for executives. ICP, however, retained one third of

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1500-668: A defined number of ECTS credits. Grande école business schools are elite academic institutions that admit students through an extremely competitive process, and the PGE ( Programme Grande École ) ends with the degree of Master in Management (MiM). Some business schools structure their teaching around the use of case studies (i.e. the case method ). Case studies have been used in graduate and undergraduate business education for nearly one hundred years. Business cases are historical descriptions of actual business situations. Typically, information

1625-418: A governance system with a management board and supervisory board. This intrusion of a supervision as well as the absence of representation of the students and the professors in the general assembly triggered strikes and the launching of petitions against the plan. The agreement was finally signed on April 6, 1981. The fear of control of the school and its pedagogy would ultimately prove to be unfounded. In 1999,

1750-400: A great deal of cooperation, trustworthiness, and self-restraint among the people who enjoy it." Menon claims that the autonomous individual, responsible for his/her own existence is a cultural construct moulded by Western culture rather than the truth about the human condition . Penner views property as an "illusion"—a "normative phantasm" without substance. In the neoliberal literature,

1875-496: A large amphitheater of 300 seats, eight small amphitheatres with 80 seats equipped with closed circuit television, a computer center, a large language laboratory, a library, a sports hall, a restaurant university and 48 classrooms. Its reception areas (foyers, cafeterias, chapel) were to be available to the public in Cergy . In exchange, the students could lived in housing around the city. Before 1971, ESSEC relied mainly on executives working in companies as its teaching staff. However,

2000-461: A new ESSEC Asia-Pacific campus was established, which opened in 2015, an ESSEC Africa campus was opened in 2017, collaboration through a strategic alliance with CentraleSupélec and involvement of students to create their own courses and mentorship program, among other things. The school also launched its first MOOCs , inaugurated its startup incubator , ESSEC Ventures and established an experimental research laboratory, K-Lab. ESSEC Business School

2125-480: A one-month humanitarian project and between 11 and 18 months of professional experience, which may also take place abroad. ESSEC's postgraduate programme is its Master in Management (also called " Grande École program"), designed for students with no professional experience (instead of managers with 3–5 years of experience like US MBA programs). It is the flagship program of the school. Business school There are several forms of business schools, including

2250-531: A premium rate for MBAs. All private and autonomous institutions in Europe charge tuition. In the United States, most public college and universities charge tuition. According to the CollegeBoard, the average cost for an out-of-state, or international student, to attend a public four year university in 2020 was $ 38,330 (€32,409), while the average in-state cost was $ 21,950 (€18,559). Two year public universities, such as

2375-514: A profit is the only concern of business, Duska argued. Peter Drucker once said, "There is neither a separate ethics of business nor is one needed", implying that standards of personal ethics cover all business situations. However, Drucker in another instance said that the ultimate responsibility of company directors is not to harm— primum non nocere . Philosopher and author Ayn Rand has put forth her idea of rational egoism , which also applies to business ethics. She stresses that position of

2500-556: A school of business, business administration, and management. Andreas Kaplan classifies business schools along four corners: The first business schools appeared in Europe in the eighteenth century and multiplied from the beginning of the nineteenth century. In the United States, common degrees in business are: Graduates in business may also have generically titled degrees such as Bachelor of Science (BS), Master of Science (MS) or Doctor of Philosophy (PhD). In Europe, higher education degrees are organized into three cycles under

2625-474: A slave is distinctly and expressly affirmed in the Constitution." Neoliberals hold that private property rights are a non-negotiable natural right. Davies counters with "property is no different from other legal categories in that it is simply a consequence of the significance attached by law to the relationships between legal persons." Singer claims, "Property is a form of power, and the distribution of power

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2750-421: A whole through taxation and/or the company's involvement in social action when it occurs. On the other hand, if a company's purpose is to maximize shareholder returns, then sacrificing profits for other concerns is a violation of its fiduciary responsibility . Corporate entities are legal persons but this does not mean they are legally entitled to all of the rights and liabilities as natural persons. Ethics are

2875-496: A written code of ethics that governs standards of professional conduct expected of all in the field. It is important to note that "law" and "ethics" are not synonymous, nor are the "legal" and "ethical" courses of action in a given situation necessarily the same. Statutes and regulations passed by legislative bodies and administrative boards set forth the "law". Slavery once was legal in the US, but one certainly would not say enslaving another

3000-471: Is a grande école , a French institution of higher education that is separate from, but parallel and often connected to, the main framework of the French public university system . Grandes écoles are elite academic institutions that admit students through an extremely competitive process, and a significant proportion of their graduates occupy the highest levels of French society. Similar to Ivy League schools in

3125-530: Is a political problem of the highest order". Rose finds, " 'Property' is only an effect, a construction, of relationships between people, meaning that its objective character is contestable. Persons and things, are 'constituted' or 'fabricated' by legal and other normative techniques." Singer observes, "A private property regime is not, after all, a Hobbesian state of nature; it requires a working legal system that can define, allocate, and enforce property rights." Davis claims that common law theory generally favors

3250-593: Is awarded once 180 ECTS have been obtained (bac + 3); a Masters is awarded once 120 additional credits have been obtained (bac +5). The highly coveted PGE (Grand Ecole Program) ends with the degree of Master's in Management (MiM) The School is made up of eight research departments in different fields of human sciences: Accounting and Management Control; Business Law and Environment; Economy; Finance; Management; Operations management; Marketing; Information Systems, Decision Sciences and Statistics. The ESSEC research center or Centre de recherche ESSEC business school (CERESSEC)

3375-425: Is in several topics related to negotiation, mediation, stakeholders dialogue, and conflict resolution. The stakeholder involved in the research include academics, senior civil servants, elected representatives, managers and employees of businesses, trade unionists, social mediators. This institute is an interdisciplinary research platform which focus on the study of human behavior in a controlled environment. The study

3500-594: Is made up of two representatives of the Paris Ile-de-France CCI , a representative of the alumni association, and two qualified professionals. The supervisory board is made up of twenty-eight members, six representatives of the Paris Ile-de-France CCI , two members of the Institut Catholique de Paris, five former students, one member of the Confederation of SMEs, four students, five professors including

3625-416: Is mainly conducted in the fields such as behavioral marketing , behavioral management, behavioral and experimental economics . ESSEC is a nonprofit organization. Its management consists of a Director General (School Dean), assisted by its executive committee, made up in particular of the deans of programs, professors and research body. They reports to the board, which administers the association, and which

3750-428: Is overlooked for another reason—issues in finance are often addressed as matters of law rather than ethics. Aristotle said, "the end and purpose of the polis is the good life". Adam Smith characterized the good life in terms of material goods and intellectual and moral excellences of character. Smith in his The Wealth of Nations commented, "All for ourselves, and nothing for other people, seems, in every age of

3875-536: Is presented about a business firm's products, markets, competition, financial structure, sales volumes, management, employees and other factors influencing the firm's success. The length of a business case study may range from two or three pages to 30 pages, or more. Students are expected to scrutinize the case study and prepare to discuss strategies and tactics that the firm should employ in the future. Three different methods have been used in business case teaching: When Harvard Business School started operating in 1908,

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4000-400: Is that it enhances individual liberty by extending the line of non-interference by the state or others around the person. Seen from this perspective, property right is absolute and property has a special and distinctive character that precedes its legal protection. Blackstone conceptualized property as the "sole and despotic dominion which one man claims and exercises over the external things of

4125-495: Is the Tepper School of Business at Carnegie Mellon University . The goal is to provide students a set of tools that will prepare them to tackle and solve problems. Another important approach used in business school is the use of business games that are used in different disciplines such as business, economics, management, etc. Some colleges are blending many of these approaches throughout their degree programs, and even blending

4250-641: Is value loaded and associated with the personal qualities of propriety and respectability, also implies questions relating to ownership. A 'proper' person owns and is true to herself or himself, and is thus genuine, perfect and pure. Modern discourse on property emerged by the turn of the 17th century within theological discussions of that time. For instance, John Locke justified property rights saying that God had made "the earth, and all inferior creatures, [in] common to all men". In 1802 utilitarian Jeremy Bentham stated, "property and law are born together and die together". One argument for property ownership

4375-565: The Bologna Process in order to facilitate international mobility: bachelor's , master's and doctorates . The details of how degrees are organized vary between countries and institutions, but in terms of ECTS credits , where 60 credits represents a full academic year's work, a bachelor's degree typically requires 180–240 credits and a master's degree 90–120 credits. In France, those levels of study include various "parcours" or paths based on UE ( unités d'enseignement or modules), each worth

4500-786: The CNIT in La Défense since 1989, mainly used for continuing education and the MBA. The ESSEC Asia-Pacific campus in Singapore was announced in October 2012 by Pierre Tapie shortly before his departure. The new campus was inaugurated in May 2015 by Jean-Michel Blanquer. ESSEC has already been present in Asia since 1980 with a permanent office in Japan and in Singapore since 2005 through

4625-630: The Caisse d'Epargne and ANFESP (National Association for the Financing of Private School Equipment), the Council General of Val d'Oise . This resulted in obligation to repay an amount up to 4-5 million francs a year. These financial expenses represented 11.7% of the ESSEC budget in 1975 (compared to 5% for INSEAD). The operating budget exploded from 6 million francs in 1972 to 28 million in 1979. Tuition fees increased to one point it doubled that of HEC. In 1979,

4750-467: The ESSEC Global BBA program, a specialized masters (SM), a master's degree in business administration (MBA), and doctorates . The historical rival of HEC Paris and ESCP Business School , ESSEC forms the group of the "three Parisians" designating the three most prestigious business schools in France. The École Supérieure des Sciences Economiques et Commerciales (ESSEC) was founded in 1907 under

4875-523: The Financial Times ranking of Masters in Management since its creation in 2005 nor in the MBA because of its hybrid nature. The dean of the time, Pierre Tapie, however, did not regret this decision, because he believed that the school had gained reputation. In fact, in 2007, the Wall Street Journal ranked ESSEC Grande École program 7th in the world, ahead of HEC and INSEAD . During this time,

5000-639: The Licence / Bachelor's degrees , and the Master's and Doctorat degrees. The Bachelors and the Masters are organized in semesters: 6 for the Bachelors and 4 for the Masters. Those levels of study include various "parcours" or paths based on UE (Unités d'enseignement or Modules), each worth a defined number of European credits (ECTS). A student accumulates those credits, which are generally transferable between paths. A Bachelors

5125-412: The entrepreneur , who has to be responsible for his own happiness and the business is a means to said happiness, where the entrepreneur is not required to serve the interest of anyone else and no-one is entitled to his/her work. Another view of business is that it must exhibit corporate social responsibility (CSR): an umbrella term indicating that an ethical business must act as a responsible citizen of

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5250-473: The secular and republican ideology of the state. The goal of the new institution was to "train leaders for a commercial and economic career, which requires competent men, imbued with Christian and human values". The school was located at the École Sainte Geneviève (created by Jesuits in 1854) in the Latin Quarter. The first class had seven students and studies lasted two years. In 1909, an optional third year

5375-457: The young or the old ), gender / sexual harassment , race , religion , disability , weight and attractiveness. A common approach to remedying discrimination is affirmative action . Once hired, employees have the right to the occasional cost of living increases, as well as raises based on merit. Promotions, however, are not a right, and there are often fewer openings than qualified applicants. It may seem unfair if an employee who has been with

5500-516: The 18th and 19th century intellectuals as land, labor or idea, and property right over slaves had the same theological and essentialized justification It was even held that the property in slaves was a sacred right. Wiecek says, "Yet slavery was more clearly and explicitly established under the Constitution than it had been under the Articles". In an 1857 judgment, US Supreme Court Chief Justice Roger B. Taney said, "The right of property in

5625-749: The 1980s and 1990s, both within major corporations and within academia. For example, most major corporations today promote their commitment to non- economic values under headings such as ethics codes and social responsibility charters. Adam Smith said in 1776, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." Governments use laws and regulations to point business behavior in what they perceive to be beneficial directions. Ethics implicitly regulates areas and details of behavior that lie beyond governmental control. The emergence of large corporations with limited relationships and sensitivity to

5750-1627: The 1990s. Marketing ethics was approached from ethical perspectives of virtue or virtue ethics , deontology , consequentialism , pragmatism and relativism. Ethics in marketing deals with the principles, values and/or ideas by which marketers (and marketing institutions) ought to act. Marketing ethics is also contested terrain, beyond the previously described issue of potential conflicts between profitability and other concerns. Ethical marketing issues include marketing redundant or dangerous products/services, transparency about environmental risks, transparency about product ingredients such as genetically modified organisms possible health risks, financial risks , security risks, etc., respect for consumer privacy and autonomy, advertising truthfulness and fairness in pricing & distribution. According to Borgerson, and Schroeder (2008), marketing can influence individuals' perceptions of and interactions with other people, implying an ethical responsibility to avoid distorting those perceptions and interactions. Marketing ethics involves pricing practices, including illegal actions such as price fixing and legal actions including price discrimination and price skimming . Certain promotional activities have drawn fire, including greenwashing , bait and switch , shilling , viral marketing , spam (electronic) , pyramid schemes and multi-level marketing . Advertising has raised objections about attack ads , subliminal messages , sex in advertising and marketing in schools . Scholars in business and management have paid much attention to

5875-575: The Dome and the Galion, both significantly increased area of the Cergy campus. The Dome, which acts as a multipurpose room, can accommodate up to 2,700 people. It is used for business forums (Career Fairs), conferences, exam site and cultural and social activities. The Galion is an administrative and educational building. It houses 54 offices and meeting rooms, 8 amphitheaters, and 12 classrooms as well as open work spaces. At

6000-686: The ESSEC Asian Centre located in the National Library Building. After considering among Tokyo , Shanghai and Singapore , the school finally chose the latter in 2005, in particular for its position as a gateway to Asia. Located in Nepal Hill, the campus spans five levels, 6,500 m2, can accommodate 1,500 students per year and cost 24 million euros, fully funded by ESSEC. It was designed by Singaporean architect, Dr. Liu Thai Ker (former architect planning Singapore). The creation of this campus

6125-479: The First World War. In 1914, it had only four students in the first year and two in the second year. It temporarily closed its doors and only reopened in 1915. The third optional year was dropped and the school did not regain financial stability until 1920 when it welcomed more than 50 students in the first year. In 1923 the students' association was created with a solidarity fund for war widows and orphans. In 1926,

6250-521: The Paris Chamber of Commerce. In 2005, ESSEC expanded its campus with the inauguration of the Nautile building and further, in 2007, with the multipurpose room, the Dome (of which has 2,700 people capacity) and the Galion . The buildings were designed by Marc Seifert, son of Ivan Seifert who designed the original campus in 1973. In 2008, the library was expanded. Renovation of the restaurant area followed

6375-656: The United States, Oxbridge in the UK, and C9 League in China, graduation from a grande école is considered the prerequisite credential for any top government, administrative and corporate position in France. The degrees are accredited by the Conférence des Grandes Écoles and awarded by the Ministry of National Education (France) . Higher education business degrees in France are organized into three levels thus facilitating international mobility:

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6500-537: The United States, would stimulate the reform of the curriculum. A common core curriculum was set up in the first year based on fundamentals while a course à la carte was introduced from the second year. This format is still in effect today. A minimum duration of 12 months of internship was also introduced. Furthermore. the ESSEC selectivity increased significantly with application numbers grew from 700 candidates in 1960 to 2,800 in 1973. The decision to move to Cergy without support of public funds resulted in heavy debt to

6625-685: The United States: ACBSP , AACSB , and the IACBE . In Europe , the EQUIS business school accreditation system is run by the EFMD , which sometimes applies the more narrow EPAS label to specific courses. The AMBA accredits MBA programmes and other post-graduate business programmes in 75 countries; its sister organisation the Business Graduates Association (BGA), accredits business schools, based on

6750-529: The actions and behavior of an individual in the business organization. Business ethics have two dimensions, normative business ethics or descriptive business ethics. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profit-maximizing behavior with non-economic concerns. Interest in business ethics accelerated dramatically during

6875-512: The association. The entrance exam was reformatted in 1969 with the elimination of the chemistry and physics test and remodeling of the oral exam which now aimed to test the logical reasoning of the candidates and not only their general knowledge. Psychometric tests and personality interviews were also introduced. Gilbert Olivier also tried to reform the program of preparatory classes to bring them closer to commercial education but gave up due to opposition from HEC and other business schools. With

7000-500: The attention of academics, media and business firms by the end of the Cold War . However, criticism of business practices was attacked for infringing the freedom of entrepreneurs and critics were accused of supporting communists . This scuttled the discourse of business ethics both in media and academia. The Defense Industry Initiative on Business Ethics and Conduct (DII) was created to support corporate ethical conduct. This era began

7125-488: The belief and support of self-regulation and free trade, which lifted tariffs and barriers and allowed businesses to merge and divest in an increasing global atmosphere. One of the earliest written treatments of business ethics is found in the Tirukkuṛaḷ , a Tamil book dated variously from 300 BCE to the 7th century CE and attributed to Thiruvalluvar . Many verses discuss business ethics, in particular, verse 113, adapting to

7250-405: The case of the government, community, and society what was merely an ethical issue can become a legal debate and eventually law." Some emerging ethical issues are: This area of business ethics usually deals with the duties of a company to ensure that products and production processes do not needlessly cause harm. Since few goods and services can be produced and consumed with zero risks, determining

7375-449: The communities in which it operates even at the cost of profits or other goals. In the US and most other nations, corporate entities are legally treated as persons in some respects. For example, they can hold title to property, sue and be sued and are subject to taxation, although their free speech rights are limited. This can be interpreted to imply that they have independent ethical responsibilities. Duska argued that stakeholders expect

7500-574: The communities in which they operate accelerated the development of formal ethics regimes. Maintaining an ethical status is the responsibility of the manager of the business. According to a 1990 article in the Journal of Business Ethics , "Managing ethical behavior is one of the most pervasive and complex problems facing business organizations today." Business ethics reflect the norms of each historical period. As time passes, norms evolve, causing accepted behaviors to become objectionable. Business ethics and

7625-421: The content of courses and the pedagogy. The result showed that only minority of students were satisfied with the teaching. Teaching was judged "Scholarly, serious and lacking in openness". Given the results of this survey, a gradual reform was put in place. Technical subjects such as chemistry and physics were abandoned, teaching content adapted to the company demand and the human factor was taken into account with

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7750-661: The control of the Versailles, which became the CCI of Paris Île-de-France in 2013. Today, ESSEC is a member of the CY Alliance, formerly the Université Paris-Seine . The ESSEC group delivers numerous training courses in administration and management through its post- preparatory class course called the "Grande École Program" conferring the master's degree . Moreover, it offers a Bachelor of Business Administration (BBA) through

7875-418: The controversy that surrounds the learning method. There are also several business schools which still rely on the lecture method to give students a basic business education. Lectures are generally given from the professor's point of view, and rarely require interaction from the students unless notetaking is required. Lecture as a method of teaching in business schools has been criticized by experts for reducing

8000-452: The dean of the professors, two members of the administrative staff of the school, and three qualified professionals. The general assembly is the guarantor of the stability of the statutes of the association, and it is composed of the president of the CCI of Paris Île-de-France, a representative of the association of graduates, a representative of the Confederation of SMEs, the dean of professors, and

8125-419: The elementary section was abolished. During this time, the disciplines taught, which remained almost the same until 1960, include: languages, history of trade, commercial geography, political economy, law and accounting. An emphasis was given to language teaching, with a duration of 10 hours per week (4 hours of English and German, 1 hour of Italian and Spanish). The school experienced difficulty surviving during

8250-475: The end of 2018, the Campus 2020 project was announced, which intends to modernize the Cergy campus by 2023, for a total cost of 35 million euros (private and public funding). Among the main lines of this project are the construction of a sports center of nearly 2,000 m2, the redevelopment of the old gymnasium and the existing administrative building into spaces intended for research activities. ESSEC has had premises in

8375-518: The ethical course can be difficult. In some case, consumers demand products that harm them, such as tobacco products. Production may have environmental impacts, including pollution , habitat destruction and urban sprawl . The downstream effects of technologies nuclear power , genetically modified food and mobile phones may not be well understood. While the precautionary principle may prohibit introducing new technology whose consequences are not fully understood, that principle would have prohibited

8500-540: The ethical debate over introducing a crime of corporate manslaughter ; and the marketing of corporations' ethics policies. According to research published by the Institute of Business Ethics and Ipsos MORI in late 2012, the three major areas of public concern regarding business ethics in Britain are executive pay, corporate tax avoidance and bribery and corruption. Ethical standards of an entire organization can be damaged if

8625-461: The ethical issues in the different forms of relationships between organizations such as buyer-supplier relationships, networks, alliances , or joint ventures . Drawing in particular on Transaction Cost Theory and Agency Theory , they note the risk of opportunistic and unethical practices between partners through, for instance, shirking, poaching , and other deceitful behaviors. In turn, research on inter-organizational relationships has observed

8750-640: The exam was set up in 1941. During this time, ESSEC refused to join the unified system of écoles de commerce established by the decree of 3 December 1947 which mentioned that the State now supports the implementation of preparatory classes on the territory. As HEC and ESCP joined this system, ESSEC positioned itself as a challenger and kept its own preparatory classes. To level its competition, ESSEC altered its school tenure from two to three years starting from 1947. This situation lasted until 1951, when ESSEC closed its own preparatory classes and opened to candidates of

8875-519: The faculty realized that there were no textbooks suitable for a graduate program in business. Their first solution to this problem involved interviewing leading practitioners of business and writing detailed accounts of what these managers were doing, based partly on the case method already in use at Harvard Law School . Of course, the professors could not present these cases as practices to be emulated, because there were no criteria available for determining what would succeed and what would not succeed. So

9000-420: The financial crisis erupted, exacerbated by an environment of high interest rates and an economic slowdown related to the oil shock. Ultimately, the school hit a deficit of 10.4 million francs during this year. The apprenticeship tax, introduction of continuing education and the donation of student's parents were used as sources of funding. The consideration of the nationalization of ESSEC and possible attachment to

9125-451: The first directory of graduates was published and three years later, the first courses in business ethics were given. By 1930, the number of students increased to 150 people. Against the crisis of the 1930s, ESSEC had to reduce its tuition fees to attract students who have more preference toward public service or regular law studies . Due to gap year of 1914-1918 and the economic crisis, the situation became even more difficult. The school

9250-588: The following year. In March 2006, ESSEC Business School inaugurated its new campus in Singapore within the National Library , the ESSEC Asian Center. In 2010, ESSEC presented its strategic plan for 2010–2015. The program portfolio was repositioned: the EPSCI (post-baccalaureate program) became the bachelor of ESSEC, the name of MBA was abandoned and replaced with MSc in Management. The group's communication

9375-792: The global market with minimal regulation over capital flows. The recommendations however, met with criticisms from various schools of ethical philosophy. Some pragmatic ethicists , found these claims to be unfalsifiable and a priori, although neither of these makes the recommendations false or unethical per se. Raising economic growth to the highest value necessarily means that welfare is subordinate, although advocates dispute this saying that economic growth provides more welfare than known alternatives. Since history shows that neither regulated nor unregulated firms always behave ethically, neither regime offers an ethical panacea . Neoliberal recommendations to developing countries to unconditionally open up their economies to transnational finance corporations

9500-468: The ideology hold that unrestricted financial flows, if redeemed from the shackles of "financial repressions", best help impoverished nations to grow. The theory holds that open financial systems accelerate economic growth by encouraging foreign capital inflows, thereby enabling higher levels of savings, investment, employment, productivity and "welfare", along with containing corruption. Neoliberals recommended that governments open their financial systems to

9625-669: The impact they make on students, employers and the wider community and society, in terms of ethics and responsible management practices. Triple accreditation is used to indicate that a school has been accredited by these three bodies: AACSB, AMBA, and EQUIS. About 1% of business schools are triple-accredited. Each year, organizations and publications such as Bloomberg Businessweek (US), Corporate Knights (Canada), Eduniversal (France), Financial Times (UK) and Quacquarelli Symonds (UK) publish rankings of business schools and MBA programs that, while sometimes controversial in their methodologies, nevertheless can directly influence

9750-484: The incentive and individualism in the learning experience. In addition to teaching students, many business schools run Executive Education programs. These may be either open programs or company-specific programs. Executives may also acquire an MBA title in an Executive MBA program within university of business or from top ranked business schools. Many business schools seek close co-operation with business. There are three main accreditation agencies for business schools in

9875-463: The introduction of courses in sociology and human resources . In 1965, marketing classes was introduced. Method of teaching such as conferences were set up, similar to what HEC Paris and Sciences Po offered. During this time, the school adopted the teaching style of the United States schools. Furthermore, the recruitment was diversified with the introduction of the Admis on Title in 1966 which also marked

10000-509: The larger university were put on the table, with those ideas coming within the field of possibilities with the election of François Mitterrand to the presidency of the Republic. Gilbert Olivier strongly opposed to the plan, seeing it as a failure of the initial project of the school to emancipate itself from the higher education system. Financial condition ultimately improved permitting the school to operate without taking such decisions. The rescue

10125-514: The level of education pursued, from €183 (US $ 216) per year for undergraduate and up to €388 (US$ 459) for doctorates. Tuition fees in the United Kingdom were introduced in 1998 and are £9,250 annually for undergraduate courses for home students in England, with higher fees for students who are not domiciled in the UK. Postgraduate courses in the UK often have higher fees, and many universities charge

10250-549: The method of delivery for each of these approaches. A study from by Inside Higher Ed and the Babson Survey Research Group shows that there is still disagreement as to the effectiveness of the approaches but the reach and accessibility is proving to be more and more appealing. Liberal arts colleges in the United States like New England College , Wesleyan University , and Bryn Mawr College are now offering complete online degrees in many business curricula despite

10375-477: The mix of debt and equity , dividend policy , the evaluation of alternative investment projects, options , futures , swaps , and other derivatives , portfolio diversification and many others. Finance is often mistaken by the people to be a discipline free from ethical burdens. The 2008 financial crisis caused critics to challenge the ethics of the executives in charge of U.S. and European financial institutions and financial regulatory bodies. Finance ethics

10500-416: The most people in the long term. Duska argued that Friedman failed to differentiate two very different aspects of business: (1) the motive of individuals, who are generally motivated by profit to participate in business, and (2) the socially sanctioned purpose of business, or the reason why people allow businesses to exist, which is to provide goods and services to people. So Friedman was wrong that making

10625-610: The name of Economic Institute by Ferdinand Le Pelletier in Paris. Its creation followed the movement of other private business schools created under Catholic guardianship in the early twentieth century such as HEC Nord (which later became EDHEC ) by the Catholic Institute of Lille or ESSCA by the Institute Catholic of Angers. The establishment of Falloux Laws in 1854 allowed the development of religious secondary education. In

10750-491: The needs of French firms launching operations on the international market. It was formerly known as EPSCI , "École des Practiciens du Commerce International" , and is now referred to as "ESSEC Global BBA". The Global BBA lasts for four years and is designed for candidates graduated from high school (in France "Baccalauréat"). At the end of the program, each student will have completed a minimum of 12 months of coursework abroad (each student will do two exchange programs abroad),

10875-600: The newest technology introduced since the industrial revolution . Product testing protocols have been attacked for violating the rights of both humans and animals . There are sources that provide information on companies that are environmentally responsible or do not test on animals. The etymological root of property is the Latin proprius , which refers to 'nature', 'quality', 'one's own', 'special characteristic', 'proper', 'intrinsic', 'inherent', 'regular', 'normal', 'genuine', 'thorough, complete, perfect' etc. The word property

11000-455: The object is to win, and winning is measured in terms solely of material wealth. Within the discipline, this rationality concept is never questioned, and has indeed become the theory-of-the-firm's sine qua non". Financial ethics is in this view a mathematical function of shareholder wealth. Such simplifying assumptions were once necessary for the construction of mathematically robust models. However, signalling theory and agency theory extended

11125-532: The opening of the school to women. However, preparatory classes not yet being open to them. Associative life also began in the early 1960s with the creation of the ESSEC Mardis in 1961 and the Junior Enterprise in 1967. The former is student forum of ESSEC which occasionally invite speakers from French art, sport, politics and economic space every year. It also hosts the debates which led by two students from

11250-717: The paradigm to greater realism. Fairness in trading practices, trading conditions, financial contracting, sales practices, consultancy services, tax payments, internal audit, external audit and executive compensation also, fall under the umbrella of finance and accounting. Particular corporate ethical/legal abuses include: creative accounting , earnings management , misleading financial analysis, insider trading , securities fraud , bribery /kickbacks and facilitation payments . Outside of corporations, bucket shops and forex scams are criminal manipulations of financial markets. Cases include accounting scandals , Enron , WorldCom and Satyam . Human resource management occupies

11375-414: The prestige of schools that achieve high scores. Academic research is also considered to be an important feature and popular way to gauge the prestige of business schools. Business schools share the common purpose of developing global managerial talent and to this end, business schools are encouraged to accelerate global engagement strategies on the foundations of collaboration and innovation. In Europe,

11500-608: The professors instructed their students to read the cases and to come to class prepared to discuss the cases and to offer recommendations for appropriate courses of action. The basic outlines of this method still operate in business-school curricula as of 2016 . In contrast to the case method some schools use a skills-based approach in teaching business. This approach emphasizes quantitative methods, in particular operations research , management information systems , statistics , organizational behavior, modeling and simulation , and decision science . The leading institution in this method

11625-402: The program to the MBA or Master level. The repositioning of the program was heavily criticized by HEC Paris , EM Lyon and University Paris-Dauphine , so much so that Ali Laïdi in his book Secrets of the economic war (2004) said that HEC Paris would have mounted a destabilization operation toward ESSEC by attacking its MBA position. The case led to an opening of investigation and resolution by

11750-535: The property is part of the private side of a public/private dichotomy and acts a counterweight to state power. Davies counters that "any space may be subject to plural meanings or appropriations which do not necessarily come into conflict". Private property has never been a universal doctrine, although since the end of the Cold War is it has become nearly so. Some societies, e.g., Native American bands, held land, if not all property, in common. When groups came into conflict,

11875-462: The public preparatory classes. In 1950, the first compulsory internship was set up which last for a period of three months and took place at the end of studies. In 1960, Gilbert Olivier replaced Father Donjon as the dean of ESSEC. His arrival, coupled with developments linked to competition, would sway the Christian identity of the school. He began the transformation by launching a survey for students on

12000-428: The purpose of a business organization is to make profit for shareholders. Nevertheless, the purpose of maximizing shareholder's wealth often "fails to energize employees". In practice, many non-shareholders also benefit from a firm's economic activity, among them employees through contractual compensation and its broader impact, consumers by the tangible or non-tangible value derived from their purchase choices; society as

12125-458: The purview of individual companies. Trade unions , for example, may push employers to establish due process for workers, but may also cause job loss by demanding unsustainable compensation and work rules. Unionized workplaces may confront union busting and strike breaking and face the ethical implications of work rules that advantage some workers over others. Among the many people management strategies that companies employ are

12250-656: The question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no, they do not." This view is known as the Friedman doctrine . A multi-country 2011 survey found support for this view among the "informed public" ranging from 30 to 80%. Ronald Duska and Jacques Cory have described Friedman's argument as consequentialist or utilitarian rather than pragmatic : Friedman's argument implies that unrestrained corporate freedom would benefit

12375-491: The rector of the Catholic Institute of Paris (ICP). ESSEC has 4 campuses: Cergy , Singapore , La Défense and Rabat . An Africa-Indian Ocean campus project in Mauritius was announced in 2016 but was canceled in 2017. The main ESSEC campus is located in Cergy . Inaugurated in 1973, the site is located in the city and open to the public, mixing students and inhabitants in the area. In 2007, two new buildings were constructed:

12500-469: The reform in place, the number of students grew and the school was starting to run out of space. The school occupied three amphitheaters at the ICP and later, in 1971, administrative services would be moved to Boulevard Raspail. In 1965 a commission was set up to consider on the possibilities of moving the school location. Projects were planned in Bagneux or Gentilly , which ultimately abandoned. On July 5, 1967,

12625-454: The resulting behavior evolved as well. Business was involved in slavery , colonialism , and the Cold War . The term 'business ethics' came into common use in the United States in the early 1970s. By the mid-1980s at least 500 courses in business ethics reached 40,000 students, using some twenty textbooks and at least ten casebooks supported by professional societies, centers and journals of business ethics. The Society for Business Ethics

12750-522: The role of formal and informal mechanisms to both prevent unethical practices and mitigate their consequences. It especially discusses the importance of formal contracts and relational norms between partners to manage ethical issues. Being the most important element of a business, stakeholders' main concern is to determine whether or not the business is behaving ethically or unethically. The business's actions and decisions should be primarily ethical before it happens to become an ethical or even legal issue. "In

12875-427: The rules or standards that govern our decisions on a daily basis. Many consider "ethics" with conscience or a simplistic sense of "right" and "wrong". Others would say that ethics is an internal code that governs an individual's conduct, ingrained into each person by family, faith, tradition, community, laws, and personal mores. Corporations and professional organizations, particularly licensing boards, generally will have

13000-634: The school decided to change the name of its Grande Ecole program to be an MBA ( Master in Business Administration ), an Anglo-Saxon standard normally reserved for executives who already have many years of experience. ESSEC intended to highlight its accreditation from the AACSB (American accreditation body) and the mandatory 18 months of internships of its students. The move was followed by other business schools, such as ICN Nancy and ESC Grenoble . ESSEC then reviewed its international agreements to bring

13125-519: The school expanded its double-degree agreements with Indian Institute of Management Ahmedabad in 2006, Centrale Paris , University of Keio in 2009, École du Louvre, ENSAE and Saint-Cyr in 2010, ENS in 2011, University of Queensland , three South Korean institutions in 2014 and Bocconi University in 2015. In 2014, Jean-Michel Blanquer , the new dean of the school, announced the strategic plan "ESSEC 3I 2020" (Internationalisation, Innovation and Involvement). The internationalization went through,

13250-497: The school started to setting up its permanent faculty. The grants awarded by FNEGE to finance studies of young professors or executives in the United States, who wished to return to teaching to fill the French "management gap", allowed ESSEC to build a pool of qualified teachers. In 1972, out of 20 professors, there were 9 former ESSECs having completed their training in the United States. The arrival of FNEGE Fellows, who had come back from

13375-538: The school's influence in national and international rankings. The research center brings together 165 professors, on two sites in Cergy and Singapore. The professors work on nine research themes: Accounting and management control; Economy; Finance; Information system; Law, Negotiation and Consultation; Management; Marketing; Management of Operations; Statistics. ESSEC Iréné is the Institute for Research and Education on Negotiation in Europe created in 1996. The research focus

13500-518: The seats of the Board of Directors and the appointment of the director of the school must still be approved by the rector of the ICP. The acceptance of the move to Cergy-Pontoise by the community was polarized. It was less well received by student due to lack of public transportation to the area. Some teachers fueled the controversy, aware that such a move necessarily entails a potential of replacement of faculty members. The new school extended over and included

13625-612: The sphere of activity of recruitment selection, orientation, performance appraisal , training and development , industrial relations and health and safety issues. Business Ethicists differ in their orientation towards labor ethics. Some assess human resource policies according to whether they support an egalitarian workplace and the dignity of labor . Issues including employment itself , privacy , compensation in accord with comparable worth , collective bargaining (and/or its opposite) can be seen either as inalienable rights or as negotiable. Discrimination by age (preferring

13750-506: The view that "property is not essentially a 'right to a thing', but rather a separable bundle of rights subsisting between persons which may vary according to the context and the object which is at stake". In common parlance property rights involve a bundle of rights including occupancy, use and enjoyment, and the right to sell, devise, give, or lease all or part of these rights. Custodians of property have obligations as well as rights. Michelman writes, "A property regime thus depends on

13875-443: The workplace what is unethical does not mean illegal and should follow the guidelines put in place by OSHA ( Occupational Safety and Health Administration ), EEOC ( Equal Employment Opportunity Commission ), and other law binding entities. Potential employees have ethical obligations to employers, involving intellectual property protection and whistle-blowing . Employers must consider workplace safety , which may involve modifying

14000-420: The workplace, or providing appropriate training or hazard disclosure. This differentiates on the location and type of work that is taking place and can need to comply with the standards to protect employees and non-employees under workplace safety. Larger economic issues such as immigration , trade policy , globalization and trade unionism affect workplaces and have an ethical dimension, but are often beyond

14125-492: The world, in total exclusion of the right of any other individual in the universe". During the seventeenth and eighteenth centuries, slavery spread to European colonies including America, where colonial legislatures defined the legal status of slaves as a form of property. Combined with theological justification, the property was taken to be essentially natural ordained by God. Property, which later gained meaning as ownership and appeared natural to Locke, Jefferson and to many of

14250-417: The world, to have been the vile maxim of the masters of mankind." However, a section of economists influenced by the ideology of neoliberalism , interpreted the objective of economics to be maximization of economic growth through accelerated consumption and production of goods and services . Neoliberal ideology promoted finance from its position as a component of economics to its core. Proponents of

14375-420: Was an "ethical" act. Economist Milton Friedman wrote that corporate executives' "responsibility ... generally will be to make as much money as possible while conforming to their basic rules of the society, both those embodied in law and those embodied in ethical custom". Friedman also said, "the only entities who can have responsibilities are individuals ... A business cannot have responsibilities. So

14500-584: Was announced in November 2015 by Jean-Michel Blanquer and was inaugurated in April 2017. Morocco was chosen for the already effective presence of ESSEC's partner CentraleSupélec , its proximity to France and the large number of Moroccan alumni. Located 15 km from Rabat , the campus covers 6,000 m2 and has a capacity of 480 students. The campus is located right in the Casablanca - Rabat - Kenitra axis. The campus

14625-508: Was built specifically for ESSEC by the Addoha real estate group to which the school pays rent (proportional to the number of students hosted during the first three years, then €360,000 / year beyond), with the possibility of to buy back the premises after nine years. At its first school year, the campus had seventy students, including eighteen Moroccans. The undergraduate program was initially created in 1975 by ESSEC Group to prepare students to meet

14750-408: Was complemented with scientific education (physics, chemistry, factory visits). With the application of the law of separation of State and Church of 1905 , the school premises were confiscated in 1913, obliging ESSEC to be absorbed by Catholic Institute of Paris or ICP. As a consequence, the school resources were significantly reduced. For instance, it only had one amphitheater borrowed from ICP and

14875-499: Was created in 1969. Supervised by AERES since 2013, the research focus is around a scientific area in partnership with the Ministry of Higher Education and Research. According to the HCERES report issued on 13 May 2019, CERESSEC is "a leading research laboratory at national and international level, it is a leading French center in the field of management and related disciplines." It supports

15000-413: Was fiercely contested by some ethicists. The claim that deregulation and the opening up of economies would reduce corruption was also contested. Dobson observes, "a rational agent is simply one who pursues personal material advantage ad infinitum. In essence, to be rational in finance is to be individualistic, materialistic, and competitive. Business is a game played by individuals, as with all games

15125-474: Was forced to accept high school graduates, uncertified examiners, and even freelance auditors who took uncertified courses. In 1932, the Student Office was created and in 1937 the first scholarships were distributed, marking the start of a social assistance policy The reform was done under the effort of Camille Donjon from 1939 with the introduction of selection at the school entrance. A preparatory class for

15250-524: Was founded in 1980. European business schools adopted business ethics after 1987 commencing with the European Business Ethics Network. In 1982 the first single-authored books in the field appeared. Firms began highlighting their ethical stature in the late 1980s and early 1990s, possibly in an attempt to distance themselves from the business scandals of the day, such as the savings and loan crisis . The concept of business ethics caught

15375-434: Was introduced. The course did not stand out for its originality as it was structured around general subjects including law, accounting, languages and techniques. It was through the introduction of Christian moral values that ESSEC could stand out: students attended the apologetics conference every week in the chapel of the École Sainte Geneviève. Technical education ( calligraphy , shorthand, drafting of commercial documents)

15500-551: Was made possible by the Versailles Chamber of Commerce , which injected 10 million francs to cover the deficit of ESSEC, bought 51% of ESSEC's ownership for 12 million francs and committed to pay an annual subsidy of 6 millions of francs from 1982 to 1989. In exchange, ESSEC retained its legal autonomy (and did not become a service of the chamber like the case of HEC Paris and ESCP with the Paris Chamber of Commerce ) but had

15625-455: Was unified under the name ESSEC Business School . A fundraising strategy of 150 million euros was announced. The school also aimed to be one of the 20 best Business Schools in the world, to join the 10 best schools in Asia and to make into top 5 in Europe. The abandonment of the name of MBA from its Grand Ecole program was a strategy pushback for the school. As the result, this program did not appear in

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