The future of business, simply put, is making the future its business. And where better to look toward the future than to the business schools currently training our future leaders? Those of us looking for confidence in the future can take comfort in the great work being done by the worldwide network of PRME (Principles for Responsible Management Education) colleges and universities established in 2007 by the United Nations.
The idea to create PRME was officially introduced by the UN’s Global Compact Office at the Global Forum “Business as an Agent of World Benefit” at Case Western Reserve University, where I serve as a Strategic Advisor, in October 2006.
PRME’s mission is to “inspire and champion responsible management education, research, and thought leadership globally.” The Six Principles of PRME, inspired by internationally accepted values, are:
- Purpose – working toward an inclusive and sustainable global economy
- Values – global social responsibility
- Method – creation of educational frameworks, materials, processes, and environments
- Research – researching the role, dynamics, and impact of corporations in the creation of sustainable social, environmental, and economic value.
- Partnership – exploring jointly effective approaches to challenges faced by corporations in meeting social and environmental responsibilities
- Dialogue – facilitating dialogue between all interested parties and stakeholders
Sustainable growth is the only way forward for business today. Being Chief means making choices that move business in this direction. PRME is on the cutting edge of integrating sustainable business standards from the ground up—beginning with tomorrow’s leaders. More than 600 leading business schools and management-related academic institutions from over 80 countries comprise the PRME, many of which are also a part of the Association to Advance Collegiate Schools of Business (AACSB), the “longest serving global association dedicated to advancing management education worldwide.”
In addition to Case Western, U.S. PRME members include leading business schools ranging from Bentley, Cornell, Notre Dame, and Texas A&M to University of California Berkeley as well as strong international representation ranging from Auckland University in New Zealand, Bangalore University in India, Cheung Kong University in China, and INSEAD in France.
Organizations such as PRME and AACSB are directing the future of business toward sustainable growth, and not a moment too soon.