You are here

The future of finance: training ethical leaders with the support of business

Finance de demain : construire l’éthique des futurs leaders, avec les entreprises
Published on
21 October 2019

How can we implement sustainable finance with responsible practices? The Finance de demain (Finance of tomorrow) network was mobilized by Grenoble Ecole de Management in order to work on solving this challenge. With the serious game Finethics, the school invites finance professionals to question their practices and take part in the discussion on ethics.

The Finance de demain network was launched in 2016 by Arnaud Raffin, a professor of finance at GEM. “I like finance and its tools. But I also note the fact that when the media speaks about finance it’s generally to expose a crisis or ethically questionable situation. At the same time, many young professionals in the finance sector are leaving their jobs after six months to two years. Why is this? One of my initial goals was to revamp public perception of finance-related professions. And why not offer bankers, for example, the opportunity to be once again proud of their job!”

“Ethics? Everyone speaks about it, but few act upon it.”

Since 2016, three actors have come together to work on raising awareness and encouraging responsible practices: 15 professionals from all sectors and several European countries, 128 students from GEM as well as other schools and universities, and Grenoble Ecole de Management with its Business Lab for Society engagement. Together this network is working to foster sustainable ethics in the world of finance.

Finethics: an immersive experience with ethical dilemmas

Starting in 2017, several tools were launched for future professionals in the fields of finance, accounting and auditing. The most recent tool is the serious game Finethics, which enables participants to experience an ethical dilemma thanks to role playing scenarios that are suggested by the participating company. “Virtual reality technology is used to run the game and its development required the participation of many stakeholders. The serious game offers companies and their employees the opportunity to immerse themselves in an ethical dilemma,” explains Arnaud.

“This collaborative effort enables companies to take part in a complete scenario that includes targeted management objectives. A company can present us with a basic scenario idea and we will build on it to create an immersive experience. As a result, the game offers a foundation on which to build and experience concrete ethical dilemmas that are very business oriented.” It generally takes 8 to 10 months for a company’s suggested dilemma to be transformed into a usable scenario with results delivered after a year.

“Who can change the stakes? The professionals of tomorrow” 

“I’m wary of labels such as ‘ethical finance’. Only individuals can implement ethical behavior. That’s why our network is working to improve how things work in the field,” underlines Arnaud. To advance this goal, two tools complement the serious game:

  • Sponsorship: each student in the network can benefit from a sponsor who is an active professional. Thus, a student will be able to call upon a mentor for individualized support when faced with an ethical dilemma. “It’s an engagement on behalf of companies. Being partner to this initiative is also a means of highlighting a company’s leadership position in terms of developing responsible financial practices,” explains Arnaud.
  • A library of resources that obviously includes financial sources but also, knowledge gained from other sectors and practices. These resources offer a starting point to help build a coherent intellectual perspective. They are available on a website specifically dedicated to the project.

The ambitions of the Finance de Demain network

  • Train individuals in accordance with their career choice.
  • Help future professionals in finance become aware of the ethical dilemmas they may face.
  • Enable companies to understand new generations of talent and evolve side-by-side with them in order to increase performance.

On the same subject

  • web série de sept épisodes de sept minutes sur sept entreprises aux modèles alternatifs
    Published on 24 September 2019

    Promising model for Corporate Social Responsibility

    Corporate Social Responsibility is more than a side strategy for some companies. Two recent graduates analyzed the impact and success of companies whose alternative models make CSR a fundamental part of their raison d’être.

  • 1ère « Medical Game Jam » du 15 au 17 novembre à Paris (Hôpital de la Pitié-Salpêtrière AP-HP)
    Published on 17 September 2019

    First « Medical Game Jam » November 15th – 17th, 2019, Paris

    "Medical Game Jam: Medical research comes into play!" is the name of the first "Medical Game Jam" taking place on November 15th-17th, 2019, at the Hôpital de la Pitié-Salpêtrière AP-HP. Organized by ComPaRe and Grenoble Ecole de Management, it is...

  • Published on 15 April 2019

    GEM juries: a great match for professionals

    Every year, the Grenoble Ecole de Management admissions and graduation juries rely upon the expertise of working professionals. Participate in this year’s GEM juries to identify, evaluate and understand the next generation of talent at Grenoble...

  • Les dynamiques de pouvoir dans le domaine du coaching
    Published on 24 January 2019

    The power dynamics in coaching

    Interpersonal relationships are a fundamental key to successful coaching. However, recent research highlights the importance of going beyond the coach-coachee relationship in order to consider triangular power relationships between coach, coachee...

  • Michel Albouy, professeur de finance à GEM
    Published on 21 December 2018

    France implements an important change for its income tax

    On January 1, 2019, all French residents will begin paying income tax on a monthly basis. Discover the details of this change.

  • Casabio, défi de la rentrée à Grenoble Ecole de Management
    Published on 23 November 2018

    Casabio: students meet the challenge of ethical commerce

    First-year students at Grenoble Ecole de Management kicked off the year with a serious game challenge to dream up innovative services and products for partner companies. Casabio, an organic store brand, participated in the first-year challenge and...

  • Grenoble Ecole de Management étaye son offre de services corporate
    Published on 23 November 2018

    GEM: a catalyst for innovation

    Serious games, the first-year challenge, research chairs, a business lab… Innovation is at the heart of Grenoble Ecole de Management. The school offers students, researchers and businesses an environment to foster creativity and collaboration.

  • Published on 27 September 2018

    A Rubik’s Cube to foster disruptive innovation

    A serious game based on a Rubik’s Cube? Discover the potential to create disruptive innovation through a day of gaming. 150 young professionals at Engie participated in a Grenoble Ecole de Management “Cubification” day to foster innovation.

  • Olivier Blanc, GEM ESC 98
    Published on 26 April 2018

    Improving Your Recruitment Strategy: a Smart Investment

    The recruitment process can be costly and sometimes end in failure. Fine tuning your recruitment process will create concrete improvements in terms of company performance.

  • Analogical Reasoning, Generating Innovative Ideas With Customers
    Published on 08 December 2017

    Research: Analogical Reasoning, Generating Innovative Ideas With the Help of Customers

    All innovation processes begin with the generation of new ideas, the majority of which end up not being useful. To improve this process, businesses are involving customers. However, the quality of ideas generated by customers is often quite...

  • QS
    Published on 29 November 2017

    Rankings: 3 Programs Newly Ranked by Qs

    Grenoble’s Master in International Business (MIB), MSC Finance and MBA are newly ranked by the QS rankings. According to these QS releases, Grenoble-EM confirms its quality and its positioning in the business school landscape. These 3 programs...

  • Diogo Hildebrand, researcher and Corporate Social Responsibility expert at Grenoble Ecole de Management
    Published on 17 November 2017

    Research: How Do Consumers Evaluate Corporate Social Responsibility?

    From fighting poverty and illness to providing disaster relief, corporations around the world dedicate considerable resources to corporate social responsibility (CSR). Contributions come in a variety of forms such as monetary donations, the donation...

  • Michel Albouy, professeur de finance à GEM
    Published on 18 October 2017

    French Real Estate: Taxation and Low-Income Housing

    Interview: The French government recently suggested it would ask landlords to lower their rent by five euros in order to compensate a decrease in government funding for low-income housing. Michel Albouy, a professor of finance at Grenoble Ecole de...

  • Dominique Steiler propose de mettre l’entreprise au service de la cité
    Published on 14 September 2017

    If You Want Peace, Prepare for It

    Ready to evolve towards economic peace and well-being at work? Discover the experiences shared by partner companies and the latest research by the Mindfulness Chair.

  • Research: How we take breaks can impact performance at work.
    Published on 12 September 2017

    Let Your Mind Wander at Work!

    It’s time to space out at work… Recent research suggests that mind-wandering has a positive impact on concentration!

  • STAGES : Un directeur de la Fnac raconte son expérience
    Published on 10 July 2017

    FNAC: an Internship to Discover First Hand the Challenges of Customer Relations

    A student internship during the month of December provides student and mentor with the chance to learn hands on.

  • Published on 31 March 2016

    UK CFOs are less optimistic and more uncertain about economy now than end of 2015, global survey finds

    Economic and political uncertainty and currency risk are among major concerns, indicating that a potential Brexit is damaging confidence. UK Financial Executives have the highest understanding among Europeans of recent innovations such as the...

  •  Thibault Daudigeos is a researcher in Sustainability, Corporate Social Reponsibility, Alternative forms of Organization, Sharing economy, and new models of management at Grenoble Ecole de Management.
    Published on 26 January 2016

    Research: Corporate Social Responsibility at Odds with Global Markets?

    Corporate social responsibility (CSR) policies have received much attention for their potential to improve societal conditions while creating value for companies. However, this latest study from Grenoble Ecole de Management highlights the fact that...