More and more scholars are expressing their apprehensions regarding the current state of management education. The increased number of corporate scandals has fueled their concerns that training students to have sound business ethics upon graduation has failed. Consequently, research is emerging that focuses on the lack of impact that business ethics teaching has had on students in recent years. Remarkably, the voice of managers has barely been heard in this area, even though they are the ones who are among those best suited to evaluate graduates’ capabilities to solve ethical dilemmas. This research presents the managers’ view on the role of business schools in training students in business ethics, and the managers’ evaluation of business schools’ success in that area. The findings reveal that managers are quite disappointed with the lack of improvement in the ethics of graduating students. Managers nonetheless provide a range of ideas for business schools to work on, and particularly, call for closer collaboration between industry and business schools.