Joseph Phillips, Dean, Albers School of Business and Economics, Seattle University

Phillips started his tenure shortly before the terrorist bombings of 9/11. In spite of the challenging economy since then, the Albers School, which serves 1,000 business students, has emerged as an important source of talent for enterprises in the region.

Leslie D. Helm | December 2011 | FROM THE PRINT EDITION

Credit: Hayley Young

YOUTH: I grew up as the oldest of nine children and spent more time with my grandmother than the average grandkid, doing things like painting her deck. She grew up in Canada and raised a family as a single mother, so she had a lot of worldly experience. She wanted me to be a priest but I wasn’t cut out for that. But, as a leader, I put a strong emphasis on fairness.

ECONOMICS: I was always interested in politics. My mother was politically active and ran for mayor in Lansdowne, Pennsylvania, near Philadelphia, where I grew up. They were interesting times in the early 1970s. There was the Vietnam War, the farmworkers’ movement and the oil crisis. I thought a lot of politics was about economics and that’s how I ended up with a Ph.D. in economics.

VALUES AND CAPITALISM: Business is not only about maximizing profits. Some businesses may focus exclusively on maximizing profits, but they are the businesses that tend to blow up. They are not doing things in a sustainable way. Successful businesses often take a much more holistic approach. Look at Costco. Are employees excited about working there because of the company’s quarterly profit? No. They are excited about the mission of the company and what they provide to customers and to society.

ETHICS: We make a great effort to integrate ethics into all our classes including finance. It should be a part of everything they [businesspeople] do at work, at home and in the community. We are sending them the message that their integrity and reputation are a big part of their success, and that it only takes one mistake to lose it. I’m always excited about the social justice projects students work on as a team. They look for a challenge in society and look for a sustainable remedy, often creating a nonprofit to tackle the problem. One team this year is working on financial literacy for a local high school. Another project has to do with financial exploitation of the elderly. Employers say our students are different; they are able to see the bigger picture. It has to do with multiple concerns about ethics, sustainability of the organization and long-term thinking.

THE FINANCIAL CRISIS: It had a lot to do with bad judgment and focusing on short-term profits. If you are going to have a great business, you have to do things in a sustainable way. Naturally,