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News - 15 February 2018

Davos Dinner Attendees Call for Changes in Business School Rankings

This January, the UN-supported Principles for Responsible Management Education and Corporate Knights convened the first meeting of business and management school deans as well as business executives during the World Economic Forum in Davos. The participants discussed the urgent imperative of updating business education to ensure it is fit-for-purpose to meet the challenges and increased expectations of business leaders in the 21st century.

Below is a joint statement issued by the participants.

We recognize that businesses are vital to solving our most important problems and that business and management schools have a special role to support this calling that goes well beyond fading mantras of shareholder primacy. This is not only important for the health of society and our planet, but essential for the legitimacy of business.

We commit to instilling a holistic purpose of business in future leaders, ensuring they are equipped with the skills, tools and values to build a more inclusive and prosperous society in synch with our natural world.

To be successful in this re-alignment, the holistic role and potential of business in society must come in from the periphery to pervade everything we teach and do at our institutions.

We have seen significant progress over the past decade, with research* showing over two-thirds of the Financial Times top 100 ranked MBA cohort now integrate a holistic purpose of business into at least one core course, while business faculty research related to the Sustainable Development Goals has increased markedly, numbering 5000 published articles in the past year. Further, we are encouraged by a growing number of institutions which are embracing the Principles for Responsible Management Education.

And we must pick up the pace with a rapid--rather than incremental—transformation of our institutions, our research, societal engagement and curricula to develop leaders who are up to the challenge of making business a force for good in the world. Walking the talk will re-establish our credibility as transformative educators.

We invite others in the business and management school ecosystem including educational providers and leading business school rankings to join us in this essential re-boot of business education in the 21st century.

In Attendance,

Andrew Main Wilson, AMBA

Sean Flannery, IFC

Steve Waygood, Aviva

Pauliina Murphy, Aviva

Michael Okoroafor, McCormick

Amanda Gardiner, Pearson

Gemma Terry, Pearson

Herve Duteil, BNP Paribas

Brent Bergeron, Gold Corp

Kevin Moss, World Resources Institute

Mark Campanale, Carbon Tracker

Mette Morsing, Copenhagen Business School

Charmaine Love, Oxford University

Saul Klein, University of Victoria

Jikyeong Kang, Asian Institute of Management

Nicola Kleyn, Gordon Institute of Business Science

Enase Okonedo, Lagos Business School

Julia Christensen Hughes, University of Guelph

Dirk Matten, York University

Philip O'Regan, Kemmy Business School

Pamela Gillies, Glasgow Caledonian University

Sergey Myasoedov, IBS-RANEPA

Ilian Mihov, INSEAD

Katrin Muff, Business School Lausanne

Professor Peter Tufano, University of Oxford

Francois Ortalo-Magne, London Business School

Laura Tyson, University of California at Berkeley

Madhav Rajan, University of Chicago

Juerg Kessler, HTW Chur

Ying Zhang, Erasmus University

Toby Heaps, Corporate Knights

Lise Kingo, UN Global Compact

Jonas Haertle, PRME


15 Feb 2018

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