As business leaders battle to rebuild economies ravaged by the global meltdown, business schools around the world are rethinking leadership and how to train the next generation of managers in the midst of unprecedented challenges. The aim is to re-invent management education with a view to equipping the future generation of managers with the necessary tools that will enable them cope with feature challenges.
This move once more underscores the importance of business education and its connection with business and economic development .Connections between business, the environment, and society has become essential. The roles and responsibilities of business as a global force are becoming more urgent and complex, and concepts related to societal responsibility and sustainability are gaining recognition as essential elements in business management. Increasing complexity and interdependence as a result of globalisation require new approaches.
Companies need integrative management tools that help embed environmental, social, and governance concerns into their strategic thinking and daily operations. They need support as they internalise and integrate these issues into the core of businesses, engage in dialogue with stakeholders, and report their conduct.
They require talented and ethical leaders who can not only advance organisational goals and fulfill legal and fiduciary obligations to shareholders, but who are also prepared to deal with the broader impact and potential of business as a positive global force in society.Any meaningful and lasting change in the conduct of corporations toward societal responsibility and sustainability must involve the institutions that most directly act as drivers of business behavior, especially academia.
Academic institutions help shape the attitudes and behaviour of business leaders through business education, research, management development programmes, training, and other pervasive, but less tangible, activities, such as the spread and advocacy of new values and ideas.
Through these means, academic institutions have the potential to generate a wave of positive change, thereby helping to ensure a world where both enterprises and societies can flourish. Management education develops the capabilities of students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy.
As institutions of higher learning involved in the education of current and future manager’s management education engages in a continuous process of improvement of the following principles and their application, reporting on progress to all our stakeholders and exchanging effective practices with other academic institutions:
One of the importance of management education is to develop the capabilities of students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy.
Management education incorporate into academic activities and curricula the values of global social responsibility as portrayed in international initiatives such as the United Nations Global Compact (UNGC).
Business schools create the educational frameworks, materials, processes and environments that enable effective learning experiences for responsible leadership. They  engages also in conceptual and empirical research that advances the understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value.