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MILLIGAN COLLEGE, TN (Feb. 23, 2004) — State of Franklin Savings Bank in Johnson City has signed-on as the primary sponsor of Milligan’s new MBA program, stating that the program’s focus on business ethics is critical to the region’s economic success. The bank recently made a $30,000 contribution to help underwrite start-up expenses for the program, which began Feb. 13.
“While companies must clearly establish and follow clear ethical guidelines, it is individual business leaders who must raise the bar on how we practice business in this country,” said Charles E. Allen, Jr., chairman of State of Franklin Savings Bank.
“Milligan’s MBA program will not only prepare excellent business leaders but those who are committed to honesty, integrity and character. That is something sorely needed in today’s economic climate,” said Allen.
Business leaders in the region have applauded Milligan’s MBA curriculum and educational model, and interest in the program is very strong. The first cohort of 20 students includes employees from Nuclear Fuel Services, ICG/Holliston, Holston Medical Group, Eastman Credit Union, King Pharmaceuticals, Honeywell, Johnson City Medical Center , the U.S. Postal Service, Wellmont Health Systems and several other regional employers.
“Corporate ethics can no longer be viewed as a luxury or something to consider only when convenient to do so,” said Dr. Bill Greer, chair of business and director of Milligan’s MBA. “Managers and executives need to understand the ethical aspect of each and every activity, whether it is increasing the price of their goods or preparing a prospectus for their public stock offerings.”
According to a recent study cited in the Chronicle of Higher Education , only 22 percent of the MBA students responding expressed agreement that their institutions were doing “a lot to prepare them for real-world ethical dilemmas.” Almost 20 percent reported that they were “not being prepared at all.”
“MBA students throughout the country are expressing a growing need for the sort of education that will leave them better equipped to integrate their work with their sense of ethics, integrity and social values,” explained Greer.
Allen said it was this very reason that the Bank’s board decided to help Milligan launch its ethics-laden MBA program.
“Businesses will not be truly successful until they embrace their greater responsibility of community building. And the bottom line is all about improving the community in which you live and work,” said Allen.
Milligan President Don Jeanes said State of Franklin Savings Bank has been very supportive of Milligan and this is another example of their commitment to the college and to the region.
Milligan’s MBA is designed to accommodate working professionals. The 18-month program meets one weekend a month on-campus, complemented by five weeks of ongoing discussion, class participation and assignments, all facilitated by faculty using Internet-based resources.
Greer explained that the curriculum provides students with a combination of technical skill, analytical and critical thinking, as well as the ability to exercise good judgment regarding the ethical implications that are inherent in virtually every business decision.
“The program is academically strong and unique in that it encourages students to come face-to-face with the reality of fulfilling their calling as a Christian in today’s business and economic world,” said Greer. “There are very few programs out there with that distinct approach.”
Applications are currently being accepted for the second MBA cohort at Milligan, which is scheduled to begin this fall. For more information about Milligan’s MBA, visitwww.milligan.edu/MBA or call 423.461.8730.