You have to have rewards and punishments . The following text is an excerpt from that session. I became one of a group of people who helped Morgan Stanley transition from a narrowly based, private firm to the global powerhouse it is today. Through all this I maintained a very active connection to my church and to various philanthropic activities, including Stanford. I was a boundary person, a Christian in business striving to be an aggressive investment banker and still be in a relationship with God, and I've come to the view that spirituality and morals, as I define them, are not enough, and that ethics is grounded deeper than cultural norms.
Cultural norms can inculcate bad practices.
Ethics itself is a result of religion and deeper feelings and of where we stop trading off. I often say facetiously that I teach Christian ethics in business school and business ethics in the church. First, be worldly. Be a worker, be an investment banker or a real estate broker or a litigator or whatever you are, and if you can't do that successfully, you're in the wrong job. Don't be afraid to take personal risk.