Harvard Business School’s “MBA Oath” caused quite a fuss when it was announced in late May in response to the ethical lapses allegedly spawned by B-schools.

While most applaud the sentiment behind the oath, whose signatories promise to lead professional careers marked with integrity and ethics, INSEAD professors Craig Smith and Theo Vermaelen took part in a debate last week at the school’s Fontainebleau campus over the validity and necessity of such an oath.

Finance professor Vermaelen offers three reasons why MBAs should not sign the Harvard MBA Oath. “I don’t believe that this is a good idea, for three reasons,” Vermaelen writes. “First, some parts of the pledge are inconsistent with fiduciary duties and ethical standards. Second the oath is a misplaced response to the financial crisis. Third, I don’t believe in pledges as an instrument to guide people’s behaviour.”

Meanwhile Smith, a professor of ethics and social responsibility, argues that an oath should form part of a broader initiative to strengthen attention to ethics and values, including greater attention to ethics in program applicant selection criteria, as well as throughout the curriculum. It’s a fascinating debate and well worth the time to read how both sides view this thorny issue.

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What’s an MBA worth? This question is pondered by many as we continue to slog through some murky financial waters. The November issue of Graduate Management News, published by the Graduate Management Admission Council, weighs this question as more college graduates struggle with unemployment and debt from student loans.

In a strictly monetary sense, the article argues that the degree consistently adds value in terms of salary;  MBAs, on average, make more than both recent college graduates with bachelor’s degrees and master’s level graduates in disciplines other than business. Studies including GMAC’s Corporate Recruiters Survey have shown that graduate management degrees can have a significant positive effect on lifetime earnings.

But why, exactly, do MBAs make more money? One could argue that the MBA gives students a broader array of applicable skills than any other type of program. Not only do students learn the theory behind sound business practices, MBA programs also teach strategic and management skills. Also, the case study method and collaborative approaches used by many MBA programs hones skills in a very practical way.

As valuable as the MBA is for individual graduates, MBAs can contribute more to society as well, says Ashok Sarathy, GMAC vice president, GMAT Program: “The skills and opportunities people gain from earning an MBA can help organizations launch new products, improve the lives of consumers, and help society as a whole.”

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If you are feeling stumped by your application essays and need some additional guidance, check out our NEW series of essay guides for MBA applications. Columbia, Harvard, Kellogg, Stanford and Wharton available now. They are seriously terrific and we are proud to say that almost every person who has ordered one has come back for more!

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Balancing career and family commitments can seem like a constant struggle; the Winter issue of the Stanford Business Magazine explores how both male and female MBAs walk that tightrope successfully in Myra H. Strober’s “Work and Family” course at Stanford Graduate School of Business.

According to the catalog, this elective course covers such topics as the plusses and minuses of becoming a stay-at-home mom or dad, the economic value of unpaid labor, the career trade-offs necessary to balance two high-powered careers and children, the economics of marriage, fertility, child care, and elder care, the gendered division of labor in the home, time-management and work/family conflicts, strategies for making change at the work place, and the role of public policy.

Male enrollment in the course has grown to 40%, and Strober, professor emerita of education with a courtesy appointment as a professor of economics at the Business School, says the men who take her course are fully engaged–motivated by the desire to be a good father and/or understand workplace barriers that affect their wives, friends or employees.

Second-year MBAs make up the bulk of the participants in this 10-week course. Students write two group papers, one on combining work and family and one on elder care, plus one individual paper on a topic of their choice. Through readings, lectures, class discussions, and talks by guest speakers, students look at the challenges and explore strategies for dealing with them.

“A lot of women and men in the class have very, very strong career goals,” Strober said. “They want to be successful at their careers, successful financially, and also have a family.”

The course has broadened in recent years to include the discussion of elder care, a subject that resonates across the board as students come to terms with the idea they may one day have four aging parents to care for.

Students in Strober’s course ask themselves, what does it mean to be leading a team or company where some workers are juggling family obligations? They study all of these issues, not just from a personal perspective but through the eyes of a manager.

For a deeper look at the Work and Family course, and to see Strober’s cost calculation of taking a break from paid work, click here.

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If you are feeling stumped by your application essays and need some additional guidance, check out our NEW series of essay guides for MBA applications. Columbia, Harvard, Kellogg, Stanford and Wharton available now. They are seriously terrific and we are proud to say that almost every person who has ordered one has come back for more!

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If you’re spending the long holiday weekend poring over your application and fine-tuning your essays, take a glance at this advice from the admissions blog of University of Rochester’s Simon School of Business.

Blogger Rebekah offers tips for the bleary-minded which encapsulate some do’s and don’ts that may help you gain admission to the program of your choice.

Below, we pass along her tips for success–applicable for any program to which you may apply:

The “Do’s”

• Be yourself – be honest and remember that the application is going to help the Admissions Committee (AdCom) to get to know you.  Be realistic about strengths and weaknesses.
• Have Career Focus and clear reasons for your graduate school plans – know what you want and have a plan for how the Simon School can be a partner to help you to get there.
• Proofread your essays -  spend the extra time to look over your essays and catch typos, stay within the word limit, check your grammar and most importantly make sure you have answered the essay questions for the Rochester application.
• Plan to check the status of your application online – decisions are released in real-time as they are finalized by the AdCom.

The “Don’ts”

• Don’t wait until the last minute to ask recommenders to assist in the application process.  They need plenty of time to write your recommendation.  Also, give them a helpful reminder at least 7-10 days prior to your targeted deadline.
• Don’t forget how/when to use the optional essay – it truly is optional, but if you have a weakness in your application, be sure to use that area as an opportunity to proactively address it.  Please be sure that you are only presenting information that is truly relevant to the B-school application.

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If you are feeling stumped by your application essays and need some additional guidance, check out our NEW series of essay guides for MBA applications. Columbia, Harvard, Kellogg, Stanford and Wharton available now. They are seriously terrific and we are proud to say that almost every person who has ordered one has come back for more!

We are on Facebook – join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman.

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