Newswise — Babson College, the top-ranked business school for Entrepreneurship Education, has responded to the global call for business schools and academic associations to advance corporate social responsibility worldwide. The school has committed to adhere to the Principles for Responsible Management Education (PRME).
The Principles for Responsible Management Education provide a framework for academic institutions to advance the broader cause of corporate social responsibility and incorporate universal values into curricula and research. As a framework, the PRME is meant to guide a school's effort to continuously improve curricula and research with regard to issues of corporate citizenship and sustainability. The PRME are not a substitute of existing accreditation and quality assurance systems.
The initiative was developed by an international task force of sixty deans, university presidents and official representatives of leading business schools. It was co-convened by the United Nations Global Compact, the Association to Advance Collegiate Schools of Business (AACSB International), the European Foundation for Management Development (EFMD), the Aspen Institute's Business and Society Program, the European Academy for Business in Society (EABIS), the Globally Responsible Leadership Initiative (GRLI) and Net Impact.
The Principles for Responsible Management Education:
As institutions of higher learning involved in the education of current and future managers we are voluntarily committed to engaging in a continuous process of improvement of the following Principles, reporting on progress to all our stakeholders and exchanging effective practices with other academic institutions:
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 incorporate 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. Dialog: We will facilitate and support dialog 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.
About the Principles for Responsible Management Education
The Principles for Responsible Management Education (PRME) initiative provides a framework for academic institutions to advance corporate social responsibility through the incorporation of universal values into curricula and research. The PRME has been developed by an international task force consisting of sixty deans, university presidents and official representatives of leading business schools and follows from a recommendation of all academic stakeholders of the Global Compact. The PRME is coordinated by a Steering Committee constituted of the Association to Advance Collegiate Schools of Business (AACSB International), the European Foundation for Management Development (EFMD), the Aspen Institute's Business and Society Program, the European Academy for Business in Society (EABIS), the Graduate Management Admission Council (GMAC), the Globally Responsible Leadership Initiative (GRLI), Net Impact and the United Nations Global Compact, which also hosts the PRME Secretariat. For more information, please visit www.unprme.org.
Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.
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