Working Paper #355
Real Estate Ethics
Bowen H. McCoy
Students in business schools should be expected to acquire the sense of moral awareness to make ethics an instinctive input in business decisions. They must learn the difference between a rules-based approach to ethics and an approach emphasizing consequences. The global economy has triggered a need for professionals to practice a global ethic that should incorporate Western practices as well as acknowledge the core beliefs of other world cultures and religions. Students should be exposed to ethical dilemmas that will prepare them to deal with the problems they will encounter in their careers. It is important to learn that an ethical leader have the ability to discern issues where others may not; further, they must possess the self-confidence to seek out different points of view. Eventually, for such leaders, an ethical component of decision-making should become intuitive.