Socially Responsible Trends in Business Education

In a highly volatile and a dynamic global market, ability to sustain global market trends and societal changes is a great challenge for a company. Recent issues of concern relating to global warming, crisis of values, corruption in business, bureaucratic and political levels are continuing to impact the global economy. To encourage businesses to adapt sustainable and socially responsible business practices, United Nations Global Compact has given a call to businesses to concentrate on sustainable practice in corporate citizenship, stability in global financial markets, environmental protection and societal well-being. To channelize these initiatives, PRINCIPLES FOR RESPONSIBLE MANAGEMENT EDUCATION was unveiled at the July 2007 UN Global Compact Leaders’ Summit with the objective of providing a framework for educational institutions to advance education towards the cause of corporate social & environmental responsibility. With stakeholders demand for responsible business practice, corporate seeking strategies to incorporate corporate governance through their operations, the pressure is acute on institutions to incorporate these challenges into their curriculum. The onus is on the management institutions to nurture students for global business leadership for responsible and sustainable business practice. With this backdrop, the study has emphasized the significance of Sustainability / Corporate Social & Environmental Responsibility which is centric for today’s organizations & society. Therefore, institutions of higher learning & business schools have a key responsibility to nurture and equip future professional managers and leaders with the emerging trends of sustainability issues through business knowledge, socially responsible attitude to face the challenges of dynamic global business in harmony with the societal well being.