Ethics and competitive advantage in a fast-paced industry

In fast-paced and rapidly-changing industries, achieving a competitive advantage can make or break an organization. This paper examines whether adhering to ethical practices presents a roadmap to achieving success in such an environment, or an impediment to that success. In particular, ethics in the motorsports industry is examined through the eyes of the students and faculty of the motorsports engineering program at Indiana University Purdue University Indianapolis (IUPUI). This program is the only one of its kind in the United States, with both bachelors and masters programs in motorsports. Graduates seek careers in which they will be active participants in advancing the technology in, and making the decisions for, the most fast-paced industry on earth. Viewpoints from the literature of ethics and the literature of engineering leadership will be examined in light of contemporary news-making decisions and events from the motorsports industry. These events will be discussed as seen through the filter of faculty-student interaction and discussion within this engineering education program. All students enrolled in the program are required, from early in their plans of study, to spend time in industry internships and practicum courses working on the university race team. Thus, their exposure to the industry is strongly connected by experiential learning opportunities. Similarly, all faculty members in the program have spent time working in the motorsports industry, serving on race teams, with sanctioning bodies, or in other engineering-related supporting roles. Thus, the in-class discussions between these faculty and students yield an interesting perspective on the machinations witnessed and reported within the industry, examined in the context of ethical standards for professional practice. Real life incidents will be examined as the students wrestle with the conundrums of ethical decision making in an industry where a chance to gain competitive advantage can literally mean the difference between victory and defeat.