In late May, PRME, a nonprofit organization focused on promoting the principles of executive training and initiatives align with 229 business schools around the world, held its first webinar on climate change, which discussed how to incorporate aspects of this debate in graduate programs in business education. The webinar is part of the actions promoted by the NGO, which inspired the agreements of the Global Compact (www.unglobalcompact.org/) UN has set six basic principles for a responsible executive education.
This webinar, as well as other initiatives PRME is a step in the right direction and shows the concern of institutions of graduate executive education to incorporate an active long-term issues in the training of business leaders. But for many, after the financial crisis last September, this can have a little taste. The public perception is that the current economic debacle is rooted in the irresponsible behavior of the leaders of global finance. “Is not anything suspicious, at least, that the sector has the largest appetite for hiring MBA-finance-has been the most badly handled clumsily? In fact, the economic crisis has not only exposed the weaknesses in the modern of executive education, but the very idea of business education, “reads one blog from the Wall Street Journal.
The economic crisis appears to have entered a stabilization phase, and many economists are beginning to perceive a light at the end of the tunnel. But the damage has been enormous, so far, with trillions of dollars evaporated and a crisis of confidence brutal. And there are still a lot of pain to come, especially in terms of unemployment. But in any case, and an inordinate simplistic and exaggerated optimism, the financial crisis is history.
The theme in the webinar that focused on PRME, however, is developing a disaster. And the problem is that the effects of global warming may be much more dramatic than the economic crisis we are experiencing.
The business world is one of the major players of global warming. Increased economic activity in general and the industry in particular, has significant environmental impacts. And if the vision of short-term financiers made it possible to form the perfect storm that nearly destroys the world financial system in 2008, what can we expect in a theme whose consequences are cumulative over the long term and where alternatives in many cases put in check the traditional business models?
Global warming is, forgive the repetition, a very hot potato in the hands of businessmen. It is necessary to incorporate the discussion about the responsibility that lies in solving the problem, and postgraduates of the stage business is best placed to do so. It says the market itself. According to an international survey by the NGO Net Impac and the Aspen Institute , an organization focused on environmental and economic issues, 90% of respondents – all MBA students – felt that the vision of short-term business was one of the factors that led to the financial crisis. 78% also felt that their schools should put more content in their programs related to sustainability and social responsibility, while 88% felt that business should play an important role in social and environmental issues.
Clearer water. The good news is that the major business schools in the world, including the cream of the cream of Latin America, are participating in the debate. Remains to be seen, however, how to incorporate long-term vision on environmental and social impact of business programs in schools and, most importantly, in the minds of students.