Responsible MBAs
December 29th, 2006 by Vihar ShethPosted in Capitalism, Education, Globalization, Ideas, Miscellaneous, Responsibility, Society
For most of America’s history political parties have been divided by business. As a candidate or as a voter you were either pro-business or you weren’t - and for the most part people still are. We have a tendency to draw very definitive lines in this country, and the line we’ve drawn regarding politics and business is one of the most misplaced.
A recent article entitled, “The MBAs who changed the world?“ discusses the efforts of students at the Olin School of Business at Washington University in St. Louis*. The students, in a projected sponsored by the non-profit World Agricultural Forum, examined the possibility “of using alternative fuels such as ethanol or soy biodiesel in developing countries.”
The point of this story is that there is ample opportunity to bring social awareness to corporate undertakings. Whether through the non-profit or for-profit worlds, there is value to be added by including social, economic and environmental responsibility in corporate decision making processes. Business schools are a good place to encourage this type of thinking, and the project discussed in the aforementioned article is a perfect example. Many schools are starting to even create degree programs around sustainable capitalism.
In one of my classes last semester I explored the possibility of launching an online retailer of socially, economically and environmentally friendly goods. A previous post of mine also discusses the World Trade Organization’s impact on sustainable development. I alone have explored numerous ways to bring equality and fairness to the global economic system. Based on my experiences it’s hard for me not to believe that better options exist somewhere out there, either in the mind of some passionate human or on paper in an academic journal or corporate newsletter.
The long-term goal of what I’m talking about it is to raise awareness among global actors, no matter how small, and catalyze action by showing people that living in a bubble is ignorant and harmful to others. I dream of a day where social entrepreneurship is a fundamental part of every corporation, and that balance sheets and company valuations are redefined to mandate corporations and their leaders take responsibility for their actions.
* For the sake of full disclosure, please note that I’m currently an MBA student at the Olin School of Business at Washington University in St. Louis
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