In this article I describe a crisis of legitimacy in business schools due to a longstanding habit of sidestepping ethics education. The accrediting agency helps perpetuate this dilemma by failing to require stand‐alone ethics coursework, despite pressure from some constituents to do so in the wake of an earthquake of corporate scandals. This crisis could easily be resolved if business schools adopted a three‐pronged approach to ethics education based on foundational coursework. Specifically, business schools should require at least one ethics course as a fulcrum for integrating ethics across the curriculum. As a third tactic, this effort should be augmented by other initiatives, such as hosting guest speakers, offering service‐learning projects, and establishing endowed chairs in ethics.