n the quest for a sustainable future, businesses and the private sector have a unique role to play in addressing the Sustainable Development Goals (SDGs) and the related, urgent global issues of our time. A new NBER study suggests those with a business degree in the private sector fall short of the skills needed to tackle these modern challenges. New CEOs holding a business degree typically share less profits with their workforce, leading to significant wage decline. CEOs with a non-business degree, however, share more profits, according to the study. This indicates that former business school graduates have not internalized the holistic stakeholder delivery that is needed for the private sector to play its essential role in collective SDG attainment.
For business school graduates to evolve, business education needs to innovate. Many business schools still treat sustainability as an optional garnish—a sprinkle of eco-friendliness on a platter of profit—when it should be the platter itself. Instilling holistic stakeholder delivery in the business school approach that fully incorporates sustainable thinking is the key to equipping the students with the diversity of skills needed to lead organizations and society in a more inclusive and holistic manner. If we continue to teach leadership the same way, is it realistic to assume we will have a different breed of leader for the future?
Demand and Supply
Now more than ever, businesses need leaders to meet the demands in the workforce—more societal responsibility and sustainability. The LinkedIn Green Jobs report highlights that the demand for green jobs grew 8% over the last five years, but the talent pool only grew 6%. This sustainability skills gap was reflected in the 2022 UN Global Compact-Accenture CEO Study, where 96% of CEOs surveyed answered that the top global challenge for businesses was talent scarcity and 91% pointed to a lack of sustainability talent.
These workforce demands are gradually prompting changes to accreditation standards. The EFMD Business Magazine reported that the revised accreditation standards of AACSB will now include societal impact, while the Financial Times is also exploring ‘impact’ in their rankings, changing the priorities of research. As the world changes, business schools must adapt to meet these new demands by not only adjusting research and curriculum focus, but also equipping their students with the skills they need to have a greater positive impact on SDG delivery.
The Role of Creative Praxis in Business Education
Creative praxis in business education emphasizes applying theoretical knowledge to real-world challenges, with a key focus on experiential learning. This approach immerses students in practical scenarios, enabling them to comprehend the complexities of sustainable business practices and their societal and environmental impact. Through internships, field studies, and collaborative projects with organizations, students tackle actual issues, identifying innovative solutions and evaluating outcomes.
Experiential learning not only boosts students' grasp of the SDGs but also nurtures social responsibility and ethical decision-making skills. As the revered Papua New Guinea proverb states, "Knowledge is only a rumor until it is in a muscle." Integrating ethics training into the core business curriculum equips students to navigate moral dilemmas and embrace sustainable practices in decision-making. Such leaders are better equipped to drive positive multistakeholder change within organizations and contribute to broader societal well-being.
Moreover, creative praxis promotes interdisciplinary collaboration within business schools, aligning curriculum with the SDGs. Bringing together students and faculty from diverse disciplines fosters a comprehensive, multifaceted approach to sustainable development. Students gain a deeper understanding of the interconnected nature of sustainability challenges, enabling them to craft holistic solutions encompassing economic, social, and environmental dimensions.
The Call for Creative Pedagogy in Business Schools
Creative pedagogy in business schools entails a departure from traditional lecture-based teaching and rote memorization in favor of a dynamic and interactive approach that engages students in active learning experiences. The Principles for Responsible Management Education (PRME), the education arm of the United Nations Global Compact (UNGC), is taking on the task of challenging the business education paradigm. Founded in 2007, the mission of PRME is to transform management education and develop the responsible decision-makers of tomorrow, specifically through curriculum change and skill set development. Educators need to embrace creative pedagogy and praxis as well as curriculum change, developing innovative teaching methodologies that inspire students to become agents of positive change.
PRME, in collaboration with The LEGO Foundation, is working to incorporate elements of meaning, joy, active engagement, social interaction, and iteration into the classroom. Educators can challenge the construct of the traditional business school paradigm by bringing engaging, authentic, and thought-provoking methods of teaching and learning to the modern classroom. This approach encourages students to explore innovative solutions to complex problems, ultimately fostering a sense of responsibility and commitment to SDG 4: Education for All and ultimately through to SDG 8: Decent Work and Economic Growth.
Creative pedagogy and praxis is a key to unleashing the full potential of business schools in advancing the SDGs. By embracing innovative teaching methodologies and practical experiences in combination with curriculum reform, business schools can inspire a new generation of ethical and sustainability-conscious leaders who are committed and equipped to creating a more just and sustainable world. It is insufficient for business schools to focus on research publications to address the deficiency in SDG delivery. To drive urgency and change in bridging the SDG skills gap, employers of leadership talent should seek out graduates from those business schools that are actively investing in equipping their students with both the knowledge AND the skills to have the positive impact that their organizations need to do their part for SDG delivery.
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Society Needs Innovation in Education for Business Leaders
AI illustration via Adobe Stock.
September 24, 2023
The private sector has an important role to play in achieving the UN Sustainable Development Goals. Yet many business leaders lack the skills they need to tackle modern challenges, illustrating the need for better, more innovative business education, writes John Goodwin.
I
n the quest for a sustainable future, businesses and the private sector have a unique role to play in addressing the Sustainable Development Goals (SDGs) and the related, urgent global issues of our time. A new NBER study suggests those with a business degree in the private sector fall short of the skills needed to tackle these modern challenges. New CEOs holding a business degree typically share less profits with their workforce, leading to significant wage decline. CEOs with a non-business degree, however, share more profits, according to the study. This indicates that former business school graduates have not internalized the holistic stakeholder delivery that is needed for the private sector to play its essential role in collective SDG attainment.
For business school graduates to evolve, business education needs to innovate. Many business schools still treat sustainability as an optional garnish—a sprinkle of eco-friendliness on a platter of profit—when it should be the platter itself. Instilling holistic stakeholder delivery in the business school approach that fully incorporates sustainable thinking is the key to equipping the students with the diversity of skills needed to lead organizations and society in a more inclusive and holistic manner. If we continue to teach leadership the same way, is it realistic to assume we will have a different breed of leader for the future?
Demand and Supply
Now more than ever, businesses need leaders to meet the demands in the workforce—more societal responsibility and sustainability. The LinkedIn Green Jobs report highlights that the demand for green jobs grew 8% over the last five years, but the talent pool only grew 6%. This sustainability skills gap was reflected in the 2022 UN Global Compact-Accenture CEO Study, where 96% of CEOs surveyed answered that the top global challenge for businesses was talent scarcity and 91% pointed to a lack of sustainability talent.
These workforce demands are gradually prompting changes to accreditation standards. The EFMD Business Magazine reported that the revised accreditation standards of AACSB will now include societal impact, while the Financial Times is also exploring ‘impact’ in their rankings, changing the priorities of research. As the world changes, business schools must adapt to meet these new demands by not only adjusting research and curriculum focus, but also equipping their students with the skills they need to have a greater positive impact on SDG delivery.
The Role of Creative Praxis in Business Education
Creative praxis in business education emphasizes applying theoretical knowledge to real-world challenges, with a key focus on experiential learning. This approach immerses students in practical scenarios, enabling them to comprehend the complexities of sustainable business practices and their societal and environmental impact. Through internships, field studies, and collaborative projects with organizations, students tackle actual issues, identifying innovative solutions and evaluating outcomes.
Experiential learning not only boosts students' grasp of the SDGs but also nurtures social responsibility and ethical decision-making skills. As the revered Papua New Guinea proverb states, "Knowledge is only a rumor until it is in a muscle." Integrating ethics training into the core business curriculum equips students to navigate moral dilemmas and embrace sustainable practices in decision-making. Such leaders are better equipped to drive positive multistakeholder change within organizations and contribute to broader societal well-being.
Moreover, creative praxis promotes interdisciplinary collaboration within business schools, aligning curriculum with the SDGs. Bringing together students and faculty from diverse disciplines fosters a comprehensive, multifaceted approach to sustainable development. Students gain a deeper understanding of the interconnected nature of sustainability challenges, enabling them to craft holistic solutions encompassing economic, social, and environmental dimensions.
The Call for Creative Pedagogy in Business Schools
Creative pedagogy in business schools entails a departure from traditional lecture-based teaching and rote memorization in favor of a dynamic and interactive approach that engages students in active learning experiences. The Principles for Responsible Management Education (PRME), the education arm of the United Nations Global Compact (UNGC), is taking on the task of challenging the business education paradigm. Founded in 2007, the mission of PRME is to transform management education and develop the responsible decision-makers of tomorrow, specifically through curriculum change and skill set development. Educators need to embrace creative pedagogy and praxis as well as curriculum change, developing innovative teaching methodologies that inspire students to become agents of positive change.
PRME, in collaboration with The LEGO Foundation, is working to incorporate elements of meaning, joy, active engagement, social interaction, and iteration into the classroom. Educators can challenge the construct of the traditional business school paradigm by bringing engaging, authentic, and thought-provoking methods of teaching and learning to the modern classroom. This approach encourages students to explore innovative solutions to complex problems, ultimately fostering a sense of responsibility and commitment to SDG 4: Education for All and ultimately through to SDG 8: Decent Work and Economic Growth.
Creative pedagogy and praxis is a key to unleashing the full potential of business schools in advancing the SDGs. By embracing innovative teaching methodologies and practical experiences in combination with curriculum reform, business schools can inspire a new generation of ethical and sustainability-conscious leaders who are committed and equipped to creating a more just and sustainable world. It is insufficient for business schools to focus on research publications to address the deficiency in SDG delivery. To drive urgency and change in bridging the SDG skills gap, employers of leadership talent should seek out graduates from those business schools that are actively investing in equipping their students with both the knowledge AND the skills to have the positive impact that their organizations need to do their part for SDG delivery.
