Perspectives on initiative and inertia, Part 1

April 28, 2024

I was invited to give the keynote speech last month at a conference hosted by McGill University’s Sustainable Growth Initiative. The theme was “The Sustainability Challenge in Law & Business: Amplification, Education and Collaboration,” and I found had a lot to say. (Perhaps I was moved to be back at my dear alma mater, where I discovered two lifelong loves: the science of economics and finance, and my dear spouse of 40 years, Anne.) The process of writing on this topic inspired me so that I am sharing a brief summary here. If you’d like the full text, send me an email at dean@business.cornell.edu.

I found myself mulling over the challenges and opportunities of integrating environmental and social sustainability into business school education and research. This may fit neatly into one sentence, but actually comprises the weaving of an entirely new infrastructure, from the inside outward, in effect re-designing the engine while driving down the road. As it were.

This is sometimes how we educators feel. A complex generational integration is essentially our responsibility, not just one task but a web of transformations and adaptations. The stakes are high. Economic and human prosperity really do depend on our responses to these incredibly complex societal challenges.

Internal forces of change are disrupting the landscape of business education, such as the need for interdisciplinary, systems-thinking research and teaching innovation. Business schools need to rethink their approach to research, teaching, and learning to equip future business leaders with the skills necessary to tackle these “wicked” global challenges.

In my talk I highlighted five factors that will determine the success of business schools in meeting this challenge: breadth of program offerings, access to needed resources, authenticity of mission, a truly global mindset, and serious industry engagement. A school with a comprehensive curriculum, a strong financial position, a longstanding and proven track record of commitment to sustainability, international relationships, and deep engagement with industry partners will have a competitive advantage in facing the change that is coming.

Corporate demand for sustainability-minded managers is ever-growing. Purpose-driven Gen-Z students, accreditation bodies, networks, and associations, plus media awards and rankings, university initiatives, and advancing technology are all galvanized drivers of change here…and yet somehow they co-exist with inertia.

So where is the inertia?

Well, it’s subtle. One of the biggest challenges is in finding ways to encourage faculty in this effort. My inspired colleague Professor Glen Dowell participated on the third panel of the conference, entitled Sustainability Curriculum Design Across Generations – Educating the Next Generation. He and his fellow panelists from five other schools really took this on and showed how some faculty have tremendous influence on curriculum, and more so if they are actively involved or affiliated with a center on sustainability, are fellows of a university-wide initiative on sustainability, or if they have signed on to a global association like the UN PRME (Principles for Responsible Management Education) or RRBM (Responsible Research in Business & Management). Maybe they have been recognized with an FT Responsible Business Education Award.

Still, these numbers are too few and isolated. Interdisciplinary research is harder and faces complex, mixed incentives, so many faculty colleagues feel uncomfortable extending themselves beyond their specializations. And of course this translates into the world of teaching and learning, because faculty members first and foremost teach what they know.

In no way am I putting the blame on faculty. I reinforced that point a number of times in the speech. We who are fortunate to serve in academic leadership have to accept some responsibility. System thinking is hard to do. But, as I say, a well-resourced business school with a global mindset, an authentic mission dedicated to solving global environmental and social problems, enabled by a broad portfolio of program offerings and a deep engagement with industry is likely to be better able to provide those resources and incentives.

I see my own mission as a dean in this way. To harness what change I can, using resources and incentives — always about carrots, not sticks — and brainstorming with my fellow deans on ways to advance the sustainability goals for the next generation of business students. There’s nothing more important than reinforcing the positive societal impact business can have for the next generation of business students. The key to success is to provide the right resources and incentives to encourage faculty to integrate responsible business practices into their curricula.

And I couldn’t leave without mentioning:
• My team and I have worked hard on our latest AACSB accreditation, and are prepared for this coming week’s on-campus external peer review. The lead-up has been remarkable, and I am so grateful to many on our leadership team for their great work. I’m also genuinely looking forward to the feedback we will receive. I will share my reflections in detail, in my next blog post.
• Laura Georgianna received a Community-Engaged Practice and Innovation Faculty Award from the Einhorn Center, for her co-development of the innovative MBA coaches program in partnership with the Dyson Grand Challenges Curriculum. This initiative puts crucial cross-college bridgebuilding right into action!
• And congratulations to Cornell Johnson MBA students, Hailee Greene and Danielle Falcon on their pitch competition success with their seed-to-solution green startup, GreeneAcres Processing. They took home first place in the Food & Agtech category at the NY Business Plan Competition on April 25. Well done, Hailee and Danielle!