One of the world’s leading Catholic theologians, who also has been mentioned as a potential candidate for pope, believes the values and principles of his faith can be applied to help any CEO or a company’s success.

Cardinal Peter Turkson, who was appointed in 2009 by Pope Benedict XVI to lead the church’s peace and justice council, said a career in business “is a noble pursuit.”

“At its best and most true to its nature and potential, business serves the common good,” he said.

Turkson, an outspoken advocate for reform of the world’s financial system, was the keynote speaker Monday at the 8th International Conference on Catholic Social Thought and Management Education held at the University of Dayton.

The conference continues through Wednesday.

Part of his message was to launch a new document “Vocation of the Business Leader: A Reflection,” produced by the Vatican’s Pontifical Council for Justice and Peace.

He challenged not only Catholic universities to apply their faith in educating business students, but for the business community to embrace Catholic principles in their daily operations and overall mission.

“I call on you, Catholic business professionals and educators and scholars, to discern and prophesy in your areas of competence,” said Turkson, a native of Ghana. “Use Catholic social doctrine as your lens for seeing.”

He outlined five basic pillars business education should comprise.

“Catholic business education should be well-founded, purposeful, vocational, ethical and formative,” Turkson said.

'Develop a moral compass’

Ultimately, he believes businesses must be co-creators; provide a service; be “responsible to help (others) to grow, prosper and excel;” and that “decisions should not be short term and exploitative, but long term and sustainable.”

He noted that he is “neither an entrepreneur nor an educator,” and that some of his perspectives come from his years as a pastor, Archbishop of Cape Coast (Ghana) and “student of Sacred Scriptures.”

He said his office consulted with about 15 Catholic leaders worldwide, “the majority entrepreneurs and some professors of business” to reflect and identify key themes in Catholic business education.

In higher education, Turkson said the curriculum must help students to “develop a moral compass and the ability to call upon the good habits of thought, choice and action that will help future entrepreneurs to become good men and women.” Although the Pontifical Council for Justice and Peace’s document is designed for current business leaders, Turkson said that he hopes there can now be a discussion with teachers of business students to see how the material can be tailored to the education of students.

“We think that we should move away from the fire-service model of doing things. What about if we try to make an input on education so that the things which caused this (economic) crisis could be avoided,” Turkson said.

The Rev. Br. Ray Fitz, former UD president and current professor of social justice, said Turkson’s visit to Dayton is “a great privilege... (since he) is a very thoughtful leader of the church’s work and peace and justice.”Turkson spent Monday also presiding over a Mass at Immaculate Conception Chapel on campus.

This year’s conference focuses on “renewing mission and identity in Catholic business education” and is designed to bring people from Catholic business schools and universities worldwide to discuss business education for the new generation, Fitz said.

“We ask ourselves, 'How can we educate a new generation of business leaders that would be highly principled, would have a good sense of wisdom about how to operate and would be able to use the Catholic social tradition as an approach to resolving ethical problems in business?’” he said.

UD has already tried to implement some of the ideas Turkson proposed.

For nearly the past five years, Fitz said the university has been holding seminars between the College of Arts and Sciences and the School of Business to explore the role that Catholic social teaching should have.

“We need to prepare them to be thoughtful and ethical in moral issues,” he said. “But also be able to see the role that business plays in helping the human family in our society.

“It’s not just business for profit’s sake, but what is the common good of the community that business should be serving.”

The conference topics include: business education in the post-global economic crisis environment, corporate governance as a foundation of Catholic business education, mainstream management theory and Catholic social teaching, spirituality and leadership.

Institutional sponsors include the Association of Catholic Colleges and Universities; Albers School of Business, Seattle University; John A. Ryan Institute for Catholic Social Thought at the Center for Catholic Studies, University of St. Thomas (Minn.); and Marquette University.

Contact this reporter at (937) 225-2113 or kelsey.cundiff@coxinc.com.