PRME

prme

As the issues business intend to solve and adopt become more complex, as it has been the case in the past few years, a brand new set of skills and a full platform should be in place to create new knowledge. This is about training and promoting executives and managers with the courage and the set of skills needed to raise the right questions and make the right decisions, not only when there is an ethical or legal problem in the firm but also when the problems and implications for risk management and reputation are out of the company boundaries. The challenge is:.

the increasing public expectation that businesses would assume their responsabilities on what has previously emerged as an economic “externality”: the environment, poverty, health, and the impacts on families, communities, and employees.

The reality is that the question about business involvement has moved beyond “whether it makes sense for a business to invest in the community or engage with stakeholders”. And in all the above, business education should play a leading role. So, the Global Compact initiative has developed the Principles for Responsible Management Education, aling with a task force of 50 renown academics worldwide pertaining to top Business Schools from different origins, such as Harvard Business School, Wharton School of Business, and Sloan Management School (MIT) -the three based in the USA-; INSEAD (France); IESE (Spain) and TEC de Monterrey (Mexico), just to name a few. These Principles were submitted to the business community in the Geneva Global Compact Leaders Summit on July 5 and 6, 2007 by the United Nations Secretary General, Mr. Ban Ki-moon. The Argentine Global Compact Network participated in this tasks force through the Instituto de Estudios para la Sustentabilidad Corporativa [Center for Study of Corporate Sustainability], an institution that adhered to these principles in June 2008.

Based on the relationship between the Instituto de Estudios para la Sustentabilidad Corporativa [Center for Study of Corporate Sustainability] and the Centro de Estudios para el Lujo Sustentable [Center for Studies on Sustainable Luxury], the latter is covered by the Principles of Responsible Education in Management.

The Principles are:.

PRINCIPLE 1

Purpose: We will 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.

PRINCIPLE 2

Values: We will incporporate into our academic activities and curricula the values of global social responsibility as portrayed in international initiatives such as the United Nations Global Compact.

PRINCIPLE 3

Method: We will create educational frameworks, materials, processes and environments that enable effective learning experiences for responsible leadership.

PRINCIPLE 4

Research: We will engage in conceptual and empirical research that advances our understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value.

PRINCIPLE 5

Partnership: We will interact with managers of business corporations to extend our knowledge of their challenges in meeting social and environmental responsibilities and to explore jointly effective approaches to meeting these challenges.

PRINCIPLE 6

Dialogue: We will facilitate and support dialogue and debate among educators, business, government, consumers, media, civil society organizations and other interested groups and stakeholders on critical issues related to global social responsibility and sustainability.

To view the first two Sharing Information Progress sheets in Spanish language showing the progress related to the period between July 1, 2008 to June 20, 2009 for the first one; and the period between July 1, 2009 and June 30, 2010, for the second one, click here