The business case for corporate social responsibility in education

In the dynamic global marketplace, understanding the fundamental connections between business, the environment, and society has become essential. The roles and responsibilities of business, as a global force, are becoming more complex, and concepts related to societal responsibility and sustainability are gaining recognition as essential elements in business management. Increasing complexity requires new approaches. Companies need integrative management tools that help incorporate environmental, social, and governance concerns into their strategic thinking and daily operations. They require talented and ethical leaders to do so. That is why companies need the help of the academia. By being involved in the education of current and future managers, academic institutions most directly act as drivers of business behavior. They help shape the attitudes and behavior of business leaders. Through different means, academic institutions have the potential to generate a wave of positive change, thereby helping to ensure a world where both businesses and societies can flourish. However, there is much more that can be done by the academic institutions. This Paper will try to identify and evaluate the actions, methods, means that may be employed by the academic institutions to support and promote social responsibility. The Paper will discuss the Global Compact Principles of Responsible Management Education, as well as other relevant principles or recommendations, and possibly suggest new directions and aspects of improvement. Due to the fact that businesses by definition are profit driven, considering the academic institutions merely from a business perspective, the Paper will also touch upon the question: Do academic institutions have the business case for being socially responsible