Business Ethics Professor on a Mission of Change

Nicholas Capaldi, the Legendre-Soule Chair in Business Ethics and Professor of Business Ethics, has made it his mission to bring ethics and spirituality back into the business world through his teaching and activities.

Capaldi originally attended college to study medicine at the wishes of his parents, but his academic pursuits soon changed. “ I took a course in philosophy and simply fell in love with it,” Capaldi explained. “Philosophy involved trying to find answers to big questions such as the meaning of life. It also incorporated the study of religion and spirituality, which have been major factors in my life.” Capaldi switched his major to philosophy and earned a bachelor’s degree from the University of Pennsylvania and a Ph.D. in philosophy from Columbia University.

But Capaldi soon found himself questioning the field’s limitations. “An issue involving affirmative action in higher education in the 1970s really changed my way of thinking. I realized that professional philosophy was limited because it only discussed issues in an abstract fashion that never provided the answers to practical questions. I needed to find an outlet outside of philosophy that allowed me to get closer to what people were facing in real life.”

Having gained insight into the corporate world through positions at Bache & Co. and Metropolitan Life Insurance Co. while in graduate school, Capaldi began to work with private foundations and discovered the world of business ethics. “There is a close connection between private enterprise and religious beliefs,” Capaldi explained. “A free market approach does work and is supported by religion, but only when business leaders have strong religious convictions.”

Capaldi believes that the way to create a better business society lies in enabling business leaders, particularly Catholic ones, to see that it is possible to be both successful and morally conscious. For him, this process begins at the college level where students can be taught ethics along with the major principles of business. According to Capaldi, “They are the future business leaders of tomorrow, so it is vital that they develop a good understanding of business ethics.”

Although he has taught at other universities, it wasn’t until he came to Loyola that Capaldi truly felt he was able to make a difference. “Jesuit institutions have had a long-standing commitment to business ethics, and the tremendous support I have received from the administration and university in general has been amazing.”

This support has allowed Capaldi to undertake his biggest project to date, which he feels will have the most impact on the business world. He is presently developing the Loyola Institute for Ethics and Spirituality in Business, which would become a regional center for initiating and sustaining dialogue between business and religious leaders. The institute will sponsor a variety of activities including guest lectures, conferences, an online journal, an 18-hour graduate certificate program for middleand upper-level business leaders, a forum, and ethical audits.

The institute will also serve as a resource center for those interested in exploring or dealing with specific ethical issues in business. With the resource center in place, opportunities will exist for faculty and student development both inside and outside of the classroom, curriculum enhancement, business integrity awards, and local research partnerships. “The idea to create an institute such as this is not new, but what will distinguish us is the fact that we will focus on the business community rather than the academic community. Our goal is to form a partnership with members of the local business community in order to help them resolve their moral and ethical issues. We will then create a databank for our findings, which could help other businesses who may be facing the same types of problems.” Capaldi feels that working with actual businesses will greatly benefit the students by supplementing what they learn in the classroom.

It is Capaldi’s mission to show the world that business is a crucial and honorable profession. “It is my hope that business leaders realize that they have the potential to transform the corporate world into the world that we would all like to see. Ethics and spirituality are key in making this transformation, and together they can help shape the American and world cultures of today and tomorrow.” — Ray Willhoft, A’00

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