The New York Times’ “You’re the Boss” blog features Jay Goltz, an entrepreneur who presents a dillemma which he thinks puts the MBA Oath to the test. Goltz describes a situation in which the owner of a small, struggling business is seemingly forced to choose between rescinding a job offer in order to hire an outstanding candidate or instead retaining an initial hire with uncertain qualifications.
Although this case might seem like a binary decision, one thing to remember is that the MBA Oath intends to encourage managers to think about the deeper implications of decisions. In this case, this includes thinking about the effects of any decision on all stakeholders.
I will safeguard the interests of my shareholders, co-workers, customers and the society in which we operate.
There isn’t a single “MBA Oath” answer to this business situation, especially with the limited information provided, but the important thing is to incorporate the principles of the oath into the decision-making process.