One of the professors behind the development of the pledge, Rakesh Khurana, stated that business schools must get back to serving the public good. “The university-based business school of today is a troubled institution, one that has become unmoored from its original purpose and whose contemporary state is in many ways antithetical to the goals of professional education itself.”
CK has come up with our own Clean Capitalism MBA Oath, complementing the original and making some additions where we felt they were needed.
As a business leader, I recognize:
• My purpose is to lead people and manage resources in an economic system in which prices fully incorporate social, economic and ecological costs and benefits, and all participants are clearly aware of the consequences of their marketplace actions
• My decisions affect the well-being of individuals inside and outside of my enterprise, today and tomorrow
Therefore, I promise that:
• I will refrain from corruption, unfair competition or business practices harmful to society
• I will respect the rights of the workers employed at my enterprise, oppose discrimination and exploitation, and promote workplace diversity
• I will report the performance and risks of my enterprise accurately and honestly, as disclosure is essential for good governance, efficient resource allocation and honest capitalism
• I will ensure that my enterprise pays its fair share of taxes, understanding that this is a vital part of the social contract that business has formed with the rest of society
• I will be responsible to all stakeholders, and this will include employees, shareholders, customers, the community in which I operate, and all those who may be affected by my actions
• I will conduct my activities in an environmentally sustainable manner, and will consider the true ecological and societal costs when making investment and operating decisions
• I will obey and uphold local and international laws wherever and with whomever I engage in commercial activities
• I will work to incorporate long-term planning into management decisions and help eliminate the influence of people in management focused on personal and short-term gains
