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News

Global Survey Highlights Widespread Student Support for Responsible Management Education

16 January 2017 | New York – The United Nations-supported Principles for Responsible Management Education (PRME) and Macquarie Graduate School of Management (MGSM) Associate Professor Debbie Haski-Leventhal from have collaborated for a third time in conducting an international study on business students around the world and their attitudes towards responsible management education and corporate social responsibility (CSR).

To read this report, please click here.

The previous studies conducted in 2012 and 2014 revealed a growing interest and support among business and management students towards these issues. However, current research presented in this study demonstrates an even higher demand among students towards responsible management education.

“Many businesses are shifting their focus towards responsibility and sustainability and it is time that business schools would do the same,” Haski-Leventhal stated. “This would not only meet the expectations of business students and future business leaders, but would also assure that business schools walk the talk and contribute to a better society.”

Jonas Haertle, Head of PRME, reiterated the need for business schools to incorporate these values into teaching, research, and thought leadership in order to support global efforts for sustainability, particularly the recently adopted Sustainable Development Goals.

“Students around the world are already demonstrating awareness and enthusiasm for the SDGs. It is important for business and management education to increase their work around CSR and ethics so that today’s business students are equipped with the skills and knowledge to tackle the challenges of the future, and to create innovative solutions to support the SDGs,” Haertle said.

According to the results of the survey, 59% of students reported to have been educated about business ethics to good/excellent degrees (with 55% saying the same thing about CSR, and 43% on sustainability). 38% were educated on social entrepreneurship, 42% on responsible marketing, 36% on human rights and 35% on the Sustainable Development Goals. While it is not the majority of the students, these results are on the rise compared with previous surveys.

While 40% of the students felt well equipped to apply the above knowledge in real life, another 45% felt their schools are not doing enough in this area. 28% wanted their school to teach them more about these topics, particularly around ethics and environmental sustainability, further demonstrating growth in both knowledge of and commitment to responsible management education.

In addition, the students had strong attitudes towards CSR. 80% agreed that ‘social responsibility and profitability can be compatible’. 77% agreed and strongly agreed that ‘Companies should do a lot more for society and the environment’ and that ‘The overall effectiveness of a business can be determined to a great extent by the degree to which it is ethical and socially responsible’. On the other hand, 67% disagreed and strongly disagreed that ‘The most important concern for a firm is making a profit, even if it means bending or breaking the rules’.

Thinking about their future, it was important for 92% of students to work for an employer that is socially and environmentally responsible, with 16% saying it was absolutely essential. Students were willing to sacrifice high levels of their future salaries to work for employers who care about their employees, the community, the environment and ethics. When asked about working for employers who exhibit all four aspects, 19.2% of business students were willing to sacrifice more than 40% of their future salary to work for such an employer.

When asked about how their business schools should do so, the following percentages of students agreed or strongly agreed with the following items:

 

All business students should study business ethics

79%

All business students should study environmental sustainability

76%

My business school should teach us more about the Sustainable Development Goals and the role of business in achieving them

75%

My school should encourage students to have a critical analysis of all teaching they receive

71%

My business school should bring in ethics and corporate responsibility experts and leaders as guest speakers

70%

My business school should integrate ethical, social and environmental themes into the core curriculum

68%

My School should “walk the talk” and demonstrate responsible management, sustainable campus, social inclusion etc.

68%

All business students should study CSR

68%

My teachers should introduce more applicable case studies on social responsibility, sustainability and ethics

67%

My school should collaborate more with businesses to achieve responsible management education

65%

My business school should provide students with internships related to corporate responsibility / sustainability

62%

No changes are required in the area of responsible management education

27%

There is too much emphasis on responsible management in my business education

26%

My business school should only teach us how to maximise shareholder value

24%

 

As can be seen from the above table, most students agree that all business students should study business ethics as a key component of their management and business education. This finding contrasts with the long held belief of the late economist that the only responsibility of a business is to maximise profit and therefore their business education should only focus on this – only 24% of students appear to hold this view.

Associate Professor Debbie Haski-Leventhal says that the findings of the third MGSM-PRME study demonstrate very strongly the growing demand for responsible management education.

One of the most important findings are that students show a strong desire to work for genuinely responsible and sustainable companies, to a point where they are willing to sacrifice high amounts of money to do so. Companies that want to attract educated, responsible and purpose-driven staff should assure high levels of responsibility and communicate this to prospective employees.                                                       

A note on the survey: Nearly 1800 students responded to the online survey, mainly from Brazil, India, the US, Spain, Canada, Mexico and Australia. 46% of the respondents were females and the average age was 27. For the first time, this round included undergraduate students (31%) and 37% were doing their MBA. About 1 in 4 students were already working in a managerial position.

 

 

16 Jan 2017

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