Volkswagen, BP, Enron, Wall Street–Why all the cheating?
David Steinberg points to the MBA culture. A nugget:
What does Volkswagen’s emissions cheating scandal have in common with Enron’s accounting fraud, the BP Deepwater Horizon oil spill catastrophe, the global financial meltdown of 2008, Barclay’s Libor rate rigging, and General Motors’ ignition recall? Why do these colossal breakdowns of public trust in corporations continue to repeat themselves?
At the heart of these scandals is an unchallenged attitude of “business as usual” that privileges financial metrics of success over all else and assumes that maximizing shareholder returns is the raison d’être of a corporation.