Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.
ISSUE 4 2025 VOLUME 26
THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION (BGA)
LEADERS NEVER STOP LEARNING
A greener future Sparking change on sustainability
• STRIKING A BALANCE: WHY SCHOOLS MUST KEEP THE HUMANITIES ALONGSIDE STEM • MINDSET METAMORPHOSIS: FROM INCLUSION INITIATIVE TO CULTURAL REVOLUTION • IN THE HOT SEAT: THE PERFECT POTENTIAL OF ROLE-PLAYING ASSESSMENTS
INSIDE
ASIA PACIFIC CONFERENCE BALI, INDONESIA 23-26 NOVEMBER 2025 AMBA & BGA
The AMBA & BGA Asia Pacific Conference will be held in Bali, Indonesia, between Sunday 23 and Wednesday 26 November 2025. This dynamic three-day event will feature world-class thought leadership, insightful discussions and two memorable dinners at some of Bali’s most iconic venues. Delegates will explore the key issues set to shape business schools across the Asia Pacific region over the coming years. Topics are expected to include innovation through digitalisation and AI, lifelong learning and alumni engagement, sustainable entrepreneurship and industry collaboration, as well as the integration of responsible management and sustainability into business education. GRAND HYATT BALI | 23-26 NOVEMBER 2025
FOR MORE INFORMATION OR TO BOOK YOUR PLACE, SCAN THE QR CODE
OR VISIT www.amba-bga.com/events/apac-2025
Contents ISSUE 4 • 2025 • VOLUME 26
05 EDITOR’S LETTER Why the world is set to see more savvy leaders who understand climate concerns and who will act accordingly 06 BUSINESS BRIEFING The latest news and research from business schools across BGA’s global network 10 DATA POINTS AMBA & BGA research reveals that while sustainability is at the top of school leaders’ lists for teaching, it is not rated among their most pressing challenges
30 ACT THE PART
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Role-playing assessments can help enhance a wide range of student skills and offer further potential using the latest AI technology 34 SPOTLIGHT ON SCHOOLS Dubai Business School features in our latest member profile 36 GUEST COLUMN How to lead change successfully 38 DIRECTOR’S DESPATCH Why we need interdisciplinarity
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16 COVER STORY PERSPECTIVES ON... SUSTAINABILITY & CLIMATE CHANGE Experts at BGA schools in four different continents share how global environmental concerns are informing teaching, research, entrepreneurial support and operations at their institutions 26 CHAMPIONING THE CAUSE OF CULTURE Radhika Shrivastava reflects on the cultural mindset shift at India’s Fortune Institute of International Business and its journey to impact on inclusion
12 IN THE INTERESTS OF HUMANITY
Encompassing the humanities in management education is more important than ever, argues IIM Indore director Himanshu Rai
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CAPACITY-BUILDING WORKSHOP
9 OCTOBER 2025 | 09:30-16:30 INTERCONTINENTAL DOHA BEACH & SPA, QATAR
FUELLING IMPACTFUL RESEARCH
BGA’s in-person workshop in Doha will explore how business schools can drive transformation through high-impact, qualitative research that supports sustainable economic and societal growth across the Middle East and North Africa. Offering insights into practical strategies, topics covered will include how to align research with regional priorities, ways of communicating findings to industry and government, as well as advice on measuring long-term outcomes. Scan the QR code to register for your free place or visit our website: www.amba-bga.com/events
EDITOR’S LETTER
EDITORIAL
Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com Head of editorial Colette Doyle c.doyle@amba-bga.com
THE SHAPE OF THINGS TO COME
Art editor Sam Price
As business schools ramp up their emphasis on sustainability, the world is set to see more leaders who truly understand their responsibility towards climate change and can grasp the strategic advantage involved
Sub-editor Heather Ford
B usinesses are alive to the need to incorporate sustainability and climate change into their thinking. The growing raft of regulations, such as the European Union’s Corporate Sustainability Reporting Directive, has certainly helped push the topic into the mainstream. However, there are also an increasing number of leaders who recognise the benefits of implementing effective sustainability strategies. In a 2024 PwC survey, for example, 56 per cent of 4,700 CEOs said their personal incentive compensation is now linked to sustainability metrics; suggesting that they believe such measures improve financial performance. The proportion of those who place high value on sustainability is sure to continue growing, as schools help shape the mindsets of tomorrow’s CEOs by placing issues relating to sustainability and climate change at the heart of their educational offerings and environment. “Learning is at the heart of all change: people don’t do new things until they’ve learned about them” says King’s Business School’s Catherine Tilley in our cover feature ( page 16 ). In the same feature, Matt Gitsham from Hult International Business School underlines that “the topics we put on the curriculum, the questions we ask and the skills we help develop all make a difference.” The article is the latest in our Perspectives series, rounding up the views of global
Insight, content & PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Membership director Victor Hedenberg v.hedenberg@amba-bga.com Head of membership Debbie Kemp d.kemp@amba-bga.com
experts on key topics. In this instance, we learn of the importance attached to sustainability and climate change at BGA schools in five different countries, gaining insights into current approaches and initiatives. These are by no means limited to teaching alone: our commentators also reveal how schools are pursuing their own paths to net zero, collaborating with the public and private sectors on high-profile projects and supporting the development of solutions-oriented start-ups. The end result, as Gisma’s Phungmayo Horam surmises, is to “mould leaders who view sustainability not as a peripheral concern, but as a core driver of long-term business success”. In this light, it’s no surprise to see that sustainability and CSR are among topics topping the list of priority teaching areas in new AMBA & BGA research ( page 10 ). However, it is also noteworthy that while 23 per cent say their school is currently experiencing challenges relating to sustainability and climate change, only seven per cent rate these in the top three for issues currently affecting their institution. This suggests schools will need to ensure that more immediate concerns, mostly relating to finance and student recruitment, do not derail their efforts to meet the challenge of creating a better world.
BGA accreditation manager Richard Turner r.turner@amba-bga.com Senior marketing executive – digital lead Shareen Pennington s.pennington@amba-bga.com Membership administrator Georgia Herbert g.herbert@amba-bga.com Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
Head of marketing & communications Leonora Clement l.clement@amba-bga.com Finance & commercial director Catherine Walke r
Director of accreditation & director of BGA services Mark Stoddard
Tim Banerjee Dhoul Editor , Business Impact
Chief executive officer Andrew Main Wilson GENERAL ENQUIRIES bga-membership@amba-bga.com
Copyright 2025 by The Association of MBAs and Business Graduates Association . All rights reserved. Material may not be reproduced without the permission of the publisher. While we take care to ensure that editorial is independent, accurate, objective and relevant for our readers, BGA accepts no responsibility for reader dissatisfaction rising from the content of this publication. The opinions expressed and advice given are the views of individual commentators and do not necessarily represent the views of BGA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. BGA makes every opportunity to credit photographers but we cannot guarantee every published use of an image will have the contributor’s name. If you believe we have omitted a credit for your image, please email the editor.
Business Impact • ISSUE 4 • 2025 5
BRIEFING The political motivations behind digital currency initiatives, when modesty prevents self-promotion, Mexico’s shadow workforce and a celebration of systems thinking all feature in this round-up of news and research from BGA schools. By Tim Banerjee Dhoul , Ellen Buchan and Colette Doyle THE LATEST NEWS FROM ACROSS BGA’S NETWORK Business
DIGITAL CURRENCIES BECOMING INSTRUMENTS OF POWER AND POLICY, STUDY SUGGESTS
tightly controlled systems, with digital currencies often used to enhance surveillance and control capital flows. By contrast, more democratically oriented countries tended to exercise greater caution on CBDCs, looking at issues of privacy, transparency and trust. The study also found that countries with higher levels of perceived corruption are more likely to consider digital currencies. “At first, that might seem backwards. But when you think about it, it starts to make sense,” reasoned Milad Armani Dehghani, a senior research fellow in fintech at NBS and lead author of the study. “Digital currencies give governments powerful tools to fight things like money laundering, tax evasion and illegal money flows.”
Dehghani referenced China’s e-CNY and Russia’s digital Ruble by way of example: “In these cases, CBDCs aren’t just about innovation. They’re about control, stability and bringing some order, though whether that’s a good thing or a little too much oversight really depends on how you look at it.” The research aims to help policy- makers understand the deeper implications of digital currencies. While CBDCs offer more security for governments pursuing economic transparency and freedom, there are issues around surveillance and privacy. “Whether you’re building the technology or shaping the regulations, the question isn’t just can they do this, but why are they doing it?” added NBS professor and study co-author Alex Brauneis. EB
SCHOOL Nottingham Business School Nottingham Trent University COUNTRY UK
uthoritarian regimes are the most likely to adopt digital forms of government-issued money,
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known as Central Bank Digital Currencies (CBDCs), according to research led by Nottingham Business School (NBS). Across 68 countries, its analysis found that the centralised power structures found among more authoritarian governments allowed them to make quick decisions and implement
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NEWS DIGEST
such as companies, governments or institutions. In addition, around 50 per cent of this demographic can be categorised as salaried workers, who should theoretically receive benefits. “This tells us that, up to now, public policies have been ineffective because they don’t understand where informal employment lies,” maintained Pasillas. “They offer partial solutions, which is like putting a Band-Aid on someone who’s bleeding. While there’s a slight downward trend, this is something that hasn’t been resolved for decades.” She continued: “Practically 95 per cent [of those who are working informally] remain unregistered, despite the law stating that they should be.” Given these figures, the Iteso professor believes a more comprehensive public policy is required beyond social programmes. Universal social security is needed, which, as is the case in many European countries, does not link a person’s access to social security with their employment status. CD “Labour informality is one of the most important problems in Mexico because it has significant social and economic implications. More than half the population lack rights”
NEW ANALYSIS OF MEXICO’S SHADOW WORKFORCE REVEALS GAP IN PUBLIC POLICY
work informally. The issue is that around 6.4 million of these informal workers are based in what legally constitutes the formal sector. “Labour informality is one of the most important problems in Mexico because it has significant social and economic implications. More than half of the population lack rights,” explained Mireya Pasillas, a professor at Iteso and the newsletter’s editorial director. The figures revealing just how many informal workers lie outside the informal sector stemmed from using a matrix and analytical tool designed by specialist Ralf Hussmanns. Nationwide, the analysis shows that 24 per cent of people in an informal situation work in formally registered economic units,
SCHOOL Iteso Business School Universidad Jesuita de Guadalajara COUNTRY Mexico
esearch based on figures from Mexico’s National Survey of Occupation and Employment
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for the first quarter of 2025, published in Iteso Business School’s Economic Analysis Bulletin , has revealed the full extent of the country’s informal employment problem. Among 59 million employed people in Mexico, an estimated 54 per cent
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SCHOOL La Trobe Business School, La Trobe University WHY WOMEN DON’T SELF-PROMOTE: GENDERED ATTITUDES AROUND MODESTY
COUNTRY Austral ia
omen are up to five times less likely to self-promote than men, because of societal
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LEGAL ACCESS AMONG TOPICS COVERED IN SYSTEMS THINKING CONTEST
expectations for women to be modest, according to a new study. Self-promotion among women, it suggests, contravenes these expectations and carries a risk of backlash, both socially and professionally. “We found that the difference in self- promotion was largely driven by women’s concerns about being seen as immodest,” explained Julio Mancuso Tradenta, a senior lecturer in economics at La Trobe University and lead author of the study. “This reluctance can significantly undermine women’s visibility and recognition in areas such as the job market, leadership, political participation and other forms of social engagement.” Mancuso Tradenta believes professional development programmes can help limit this additional barrier to gender equality, arguing that it “could help individuals navigate modesty norms by building awareness of effective communication strategies.” He now wants to see how the study’s findings can inform better organisational processes. “We are exploring the design of a real-world workplace intervention to assess the impact of providing socially acceptable justifications for self- promotion in professional settings.” EB
systemic gridlock across the country. They put forward online dispute resolution as a promising lever for change. “Their achievement reflects their deep commitment to systems thinking and social insight,” GIM director Ajit Parulekar said. First place in the competition went to a team from Wesleyan University for a project analysing the dual crisis of sinking land and water scarcity in Jakarta, Indonesia’s capital and the world’s fastest-sinking city. Second place went to a team from Vanderbilt University for its account of nomadic herders’ vulnerability to dzud , a climate disaster unique to Mongolia and other areas of Central Asia. The competition’s focus on systems thinking promotes the development of leaders that can rise to the challenge of today’s complex societal and environmental issues. As its brochure explains: “Systems leaders catalyse social change by empowering others and prioritise a deep understanding of the unjust systems they are trying to dismantle.” TBD
SCHOOL Goa Institute of Management COUNTRY India
student team from Goa Institute of Management (GIM) recently became the
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first representatives of a business school in India to qualify for the final of Map the System, a global contest focused on forgoing quick fixes to thoroughly investigate complex problems through systems thinking. Organised by the Skoll Centre for Social Entrepreneurship at the University of Oxford’s Saïd Business School, this year’s Map the System final brought together 134 student finalists from 50 institutions across 17 countries. The GIM team explored India’s deep-rooted legal access crisis, uncovering issues of accountability and infrastructure that perpetuate
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NEWS DIGEST
SCHOOL Faculty of Management University of Warsaw COLLABORATING TO FEED INNOVATION IN THE FOOD INDUSTRY
COUNTRY Poland
T he Faculty of Management at the University of Warsaw is one of six institutions offering a master’s in food systems (MFS) from EIT Food, an initiative of the European Institute of Innovation and Technology aimed at driving transformation in the food industry. Recently, the latest cohort came together in Barcelona for the programme’s annual entrepreneurship summer school. Participants worked on new product concepts and commercialisation models in a range of areas, including eco-friendly packaging, high-protein insect flour and sustainable, locally produced snacks. The MFS is a two-year programme focused on innovation and the commercialisation of solutions within the food sector. Its six partner schools offer various study paths based on their expertise. For example, the University of Warsaw’s Faculty of Management currently offers pathways around food innovation management, with foci that include circular food systems and public health and nutrition. Participants each have a home institution and undertake terms at two of the remaining five institutions. Four cohorts have already completed the MFS, with 37 graduating from the programme last year. Among its alumni are those working in research and development, quality control, product development and as entrepreneurs in the food start-up space. TBD
STUDY SHOWS HOW CITIZENS EVALUATE SCIENTIFIC RESEARCH PROPOSALS
science crowdfunding platform, experiment.com and then assess it based on three core criteria: scientific merit, social impact and the perceived ability of the research team to deliver on the project. The researchers found that when making their final funding decisions, participants weighed social impact and scientific merit almost equally, while team qualifications played a smaller but still important role. “Our findings challenge the simplistic idea that non-scientists only care about feel-good impacts,” noted ESMT’s Henry Sauermann, co-author of the study. “People care whether the science is solid and the researchers are credible, even if they also prioritise relevance to real‑world problems.” The choice of evaluation mechanism strongly influenced who participated. Crowdfunding, which required participants to contribute their own money, gave greater voice to more affluent and educated individuals. The recommendation mechanism, in contrast, enabled broader and more inclusive engagement. The study was published in Research Policy . CD
SCHOOL ESMT Berlin COUNTRY Germany
ew research by ESMT Berlin and Politecnico di Milano exploring how non‑experts
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assess scientific research proposals has revealed significant implications for public participation in science funding. The study shows that while citizens value both social impact and scientific merit, their judgments can be shaped by personal interests, income and education. In the study, more than 2,300 citizen evaluators assessed four real research proposals using both a recommendation mechanism (advising a funding agency) and a crowdfunding mechanism (donating their own money). The proposals covered diverse topics including Covid-19 drug discovery, Alzheimer’s and economic preferences across demographic groups. Each participant was asked to read a research proposal from the
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing Business Impact editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
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Data points With almost a quarter of business schools experiencing sustainability challenges, it’s little wonder that a sizeable proportion believe they have a leading role to play in shaping solutions for the future. Tim Banerjee Dhoul analyses new findings from upcoming AMBA & BGA research
As University of Edinburgh Business School dean Gavin Jack remarked in a recent interview for AMBA’s Ambition magazine: “Even though the impacts of climate change are already being felt, the major impacts may be perceived to be over the horizon for many.” Jack went on to say that “attention has seemingly shifted away from climate change in the business and geopolitical spheres, but it will return, most likely with a different set of strategic tasks to implement with less time and more urgency.” For this reason, some business schools are striving to keep challenges relating to sustainability and climate change firmly on the radar. Last month, for example, director of sustainability at ESMT Berlin and recent Business Impact contributor Joanna Radeke lamented that biodiversity was only mentioned four times in the current German coalition agreement, while space travel was mentioned 11 times. Certainly, there is widespread agreement on the need to encompass sustainability in business school curricula. Among priority areas designed to prepare students for a changing job
I n a recent survey of AMBA & BGA’s global membership, around a quarter (23 per cent) of business school leaders indicated that their school is currently experiencing challenges relating to sustainability and climate change. In fact, some 70 per cent of those experiencing challenges said that business schools have a “leading” or “significant” role to play in tackling global sustainability challenges over the next decade, while 78 per cent said their institution had made financial investments to create more sustainable campuses. Examples given included the introduction of more efficient energy consumption practices, recycling schemes and pledges to become carbon neutral by a fixed date. In addition, 42 per cent of these leaders said they had limited staff travel for reasons of sustainability. However, only seven per cent of all leaders surveyed placed issues relating to climate change and sustainability among the top three challenges in terms of current impact on their school. This left it at the bottom of a list of
10 issues put forward in the AMBA & BGA survey. Admittedly, the most cited challenges are highly publicised industry concerns, including economic uncertainty (selected as a top three challenge by 57 per cent), changing market demand (cited by 45 per cent), increased competition (41 per cent) and technological disruption (34 per cent). Even so, should we be worried at climate change and sustainability’s lack of prominence among more than 100 responding leaders? After all, “the energy transition” placed third in McKinsey’s Eight CEO priorities for 2024 and sustainability’s strategic advantage was among PwC’s five areas of focus for CEOs in 2025, with 64 per cent of those surveyed viewing climate change as a moderate to serious business risk. It is intriguing, then, that this is not a topic currently weighing as heavily on the minds of those at the helm of the world’s leading business schools as it might. One possibility for this is that the pressing nature of other priorities is temporarily pushing something sometimes seen as a longer-term issue further down the list.
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AMBA & BGA RESEARCH
market, “ethics and responsible business” (encompassing CSR, ethical artificial intelligence and sustainability) was selected by 77 per cent of business school leaders, placing it ahead of “digital and data literacy” and “innovation and entrepreneurial thinking”. PERCEIVED DEMAND Among the 23 per cent who reported experiencing sustainability challenges, the importance placed on sustainability is supported by perceived market demand. Indeed, more than two-thirds (68 per cent) of these leaders think that there is a significant demand for sustainability- focused business education. A little over a third (37 per cent) believe this demand comes from both students and employers, while 26 per cent think it stems primarily from students and five per cent feel it lies largely with employers. A further 26 per cent think that while the demand is not yet significant, it is growing. These sentiments are also reflected in the curricular approaches taken at these business schools. Most commonly, topics relating to sustainability and climate change have been added to existing courses – 63 per cent confirmed this as being the path taken by their institution. However, at 21 per cent of respondents’ schools, these topics are covered in new, standalone courses. Rightly or wrongly, there are not many global business school leaders who rate this challenge in their top three for its current level of impact. However, this should not detract from schools’ efforts to ensure that knowledge and awareness of the issues around sustainability and climate change guides thinking and inspires action in graduates’ future careers.
23 OF SCHOOL LEADERS SAY THEIR SCHOOL IS CURRENTLY EXPERIENCING CHALLENGES RELATING TO SUSTAINABILITY AND CLIMATE CHANGE %
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Higher education is heavily focused on STEM subjects, driven by technology and industry demands for technical skills. Yet, as AI streamlines tasks, our unique human capacity for creativity, innovation and ethical decision-making becomes ever-more paramount, as IIM Indore’s Himanshu Rai elaborates In the interests of humanity T he educational landscape is undergoing a profound transformation. With technological advancements, there has been a surge in the emphasis on science, technology, engineering and crucial role in fostering ethical leadership by grounding individuals in moral philosophy, ethics and critical thinking. Studying classical works such as Aristotle’s highly influential Nicomachean Ethics or Confucius’ legendary teachings provides a framework for ethical leadership by emphasising virtues such as honesty, courage and justice. An ethical leader is not merely concerned with achieving targets, but also with ensuring that the means to those ends align with ethical principles. The humanities equip leaders with the tools to reflect on the consequences of their actions,
mathematics (STEM) disciplines. This shift, driven by educational systems and industry demands, has amplified the need for technical skills in a world increasingly dominated by digital and automated processes. While artificial intelligence (AI) and machine learning streamline repetitive tasks, allowing humans more time to focus on creativity and innovation, a vital component of education – the humanities – risks being sidelined. Higher education institutions are increasingly focused on producing a new generation of coders, engineers and tech professionals, as the perceived value of STEM disciplines continues to rise. STEM fields undeniably drive economic growth, create jobs and enhance quality of life through technological advancements. However, as technical education receives unprecedented attention, subjects such as philosophy, history, literature and the arts are being neglected. Yet, these disciplines cultivate the ability to make thoughtful, ethical and creative decisions. Ethical leadership stands as a vital component in shaping conscientious leaders who prioritise integrity, fairness and responsibility in their decision-making processes. Humanities play a
considering not only the financial impact but also the societal, environmental and moral implications. In a world where business decisions can significantly affect communities and the environment, such ethical grounding is invaluable. The humanities & ethical leadership Incorporating humanities into leadership training helps in cultivating empathy, which is a cornerstone of ethical leadership. Literature, for example, immerses readers in diverse human experiences, enabling them to view situations from multiple perspectives. This practice of perspective-taking enhances a leader’s ability to understand the needs, concerns and values of their stakeholders, fostering more inclusive and compassionate decision-making. Furthermore, ethical leadership involves navigating dilemmas where competing values may be at stake. For instance, a tech executive may face a
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FUTURE SKILLS
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conflict between maximising profits and protecting user privacy. The study of philosophy and ethics can provide a decision-making framework that considers both utilitarian and deontological (ie the nature of duty and rule-following) perspectives, ensuring that leaders are equipped to handle complex ethical challenges without compromising their core values. Real-world examples show the profound impact of ethical leadership. Leaders like JRD Tata demonstrated how business decisions could be guided by principles of fairness and social responsibility, setting a benchmark for ethical conduct in the corporate world. Similarly, Mahatma Gandhi’s leadership was deeply rooted in principles of non‑violence and truth, inspiring generations to uphold moral integrity in their personal and professional lives. Incorporating ethical leadership training in educational institutions, particularly within business and management programmes, can significantly influence the next generation of leaders. Courses that combine management principles with ethics, cultural studies and social justice not only prepare students for the corporate world but also for responsible citizenship. Institutions such as IIM Indore have already pioneered integrative programmes of this kind, emphasising both strategic thinking and ethical leadership, thereby setting a model for other educational institutions to follow. In our rapidly evolving world, where AI, data analytics and automation are reshaping industries, the role of ethical leadership becomes even more critical. Leaders must ask themselves not only “Can we?”, but also “Should we?” when implementing new technologies. The humanities provide the ethical lens necessary to navigate such questions thoughtfully and responsibly, ensuring that technological advancement is balanced with ethical stewardship. It is time to ask ourselves: are we educating students to merely construct machines, or to thoughtfully consider the broader implications of those machines on society? Globally, a widening gap is emerging between STEM and the humanities. In the UK, for instance, fewer students are choosing humanities subjects such as history, literature and philosophy. Between 2021 and 2022, only 38 per cent of students pursued at least one humanities subject at A level, a significant decline from more than 50 per cent a few years earlier. Simultaneously, the number of students focusing solely on STEM subjects doubled from seven per cent in 2014 to 14 per cent between 2021-22. A similar trend
is evident in the US, where the American Academy of Arts and Sciences reported that in 2022, only 8.8 per cent of bachelor’s degrees awarded were in the humanities, compared to 38 per cent in sciences and 18.8 per cent in business. The humanities offer more than just historical or literary knowledge; they equip individuals with the capacity for critical thinking, ethical reasoning and empathy. These skills are essential in making well-rounded decisions that consider the broader social, cultural and ethical implications. For instance, while a software engineer may have the technical expertise to develop AI systems, it is their background in philosophy or ethics that prompts them to question the societal impact of their creations. They must enquire if these systems are perpetuating biases and respecting privacy, as well as whether they are inclusive in design. Critical thinking & cultural awareness While technical skills undeniably lead to lucrative career opportunities, neglecting the humanities is a strategic misstep. The humanities encourage us to ask profound questions about life, justice, identity and purpose. They foster critical thinking, ethical reasoning and cultural awareness, all indispensable in an increasingly interconnected and complex world. For instance, literature courses expose students to diverse narratives and broaden their perspectives. This is particularly valuable in a globalised world, where businesses operate across cultural boundaries. Understanding cultural contexts and communication nuances can be the difference between a successful negotiation and a failed one. Historical studies, too, are rich with lessons that transcend time. From the rise and fall of civilisations to the consequences of ethical breaches, history provides insights into how human behaviour shapes societal outcomes. By analysing historical events, students learn to assess the potential consequences of current actions, cultivating foresight and strategic thinking.
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Tools of societal progress & transformation Beyond personal development, the humanities serve as powerful tools for societal transformation. Literature and philosophy often inspire movements for social justice and equity. Key literary texts expose systemic injustices and challenge readers to question societal norms. Philosophers like Immanuel Kant and John Stuart Mill have contributed frameworks for ethical reasoning that remain relevant in contemporary debates on human rights and social equity. Art and literature give voice to marginalised communities, bringing attention to issues of gender, race and class that may otherwise be overlooked. Through narratives, poetry and visual art, individuals can share personal experiences, fostering a deeper understanding of diverse perspectives. The humanities, therefore, not only cultivate empathy but also empower individuals to advocate for justice and equality. Creativity, too, is a cornerstone of innovation across all fields. While STEM disciplines emphasise problem-solving within defined frameworks, the humanities cultivate the ability to challenge conventional norms and envision novel solutions. History, literature and the arts offer rich reservoirs of diverse perspectives, inspiring creative approaches to complex problems. Some of the most impactful innovations in history were born from interdisciplinary thinking. Leonardo da Vinci, for instance, was not only a painter but also a scientist, engineer and philosopher. His ability to merge artistic vision with scientific inquiry led to groundbreaking ideas that remain influential today. Similarly, Steve Jobs, co-founder of Apple, famously credited his success to a blend of technology and the humanities. By studying calligraphy, he developed an appreciation for typography that would later define Apple’s aesthetic and user interface. The merits of a balanced education To maintain a balance between science subjects and humanities, India introduced the National Education Policy (NEP) in 2020, aimed at integrating humanities into technical curricula. This
policy encourages interdisciplinary learning, allowing students to combine subjects such as computer science with philosophy or literature. These initiatives are vital in a world where the boundaries between technical and non-technical fields are increasingly blurred. By fostering critical thinking, creativity and ethical reasoning, NEP seeks to produce graduates who are not only technically proficient but also socially conscious and culturally aware. Similarly, IIM Indore’s master of science in data science and management combines analytics with ethical decision-making. Graduates of this programme are not only adept at data analysis but also equipped to consider the societal implications of their work, making them well-rounded professionals in an increasingly data-driven world. Policymakers and educators must champion the humanities as vital to a well-rounded education. The humanities are not a luxury but a necessity – offering insights into human nature, societal values and ethical decision-making. Ancient scriptures such as the Vedas and Upanishads delved into questions of truth, duty and the self, themes that remain relevant in contemporary education. Similarly, biblical parables and Buddhist teachings underscore the enduring importance of compassion, mindfulness and moral reflection. A balanced educational approach – one that values both technical expertise and the broader human experience – is essential for cultivating responsible, innovative and empathetic leaders. In an era dominated by AI and data, the humanities provide the moral compass needed to navigate ethical complexities, ensuring that technological progress is aligned with human values. The humanities are more than just academic disciplines – they are the foundation of a well-rounded education that prepares individuals to navigate the complexities of life with integrity, empathy and critical thinking. As we advance into an increasingly digital era, the role of humanities becomes even more significant, reminding us to question, to reflect and to prioritise humanity over mere mechanics. The call to action is clear: educators, policymakers and society at large must advocate for a balanced curriculum that values both STEM and the humanities. In doing this, we will cultivate a generation of thoughtful, ethical and creative minds capable of not only building the future, but also guiding it with wisdom and compassion.
Himanshu Rai is the director of the Indian Institute of Management (IIM) Indore. A distinguished academic, Rai is the author of Negotiation and the Hindi-language book, Pravah , as well as a co-author of Organisational Behaviour . He is deeply passionate about ancient scriptures, yoga, mountaineering, theatre and music
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Perspectives on... Sustainability & climate change Tim Banerjee Dhoul canvases the views and experiences of experts from across BGA’s global network to discover why management education matters when it comes to tackling the global challenges of sustainability and climate change
How close is your school to net zero? And are you currently working towards any specific targets on sustainability/ decarbonisation with regards to your operations and activities? Jako Volschenk, associate professor of strategy & sustainability, Stellenbosch Business School, South Africa “We do not currently have any scope 1 emissions [direct emissions from sources owned or controlled by the organisation]. While we do not measure our scope 2 [indirect emissions from energy purchased and consumed] and scope 3 emissions [lifecycle emissions across the value chain], we are in the process of installing solar photovoltaic (PV) panels that will meet all our electricity requirements currently classified as scope 2 emissions. “We have substantial scope 3 emissions, mostly because of our MBA’s compulsory international study
Shahid Amjad, head of department, environment and energy management, Institute of Business Management (IoBM), Pakistan “IoBM has not yet pledged a formal net-zero goal but remains deeply committed to sustainability. As a signatory of the UI GreenMetric and Times Higher Education sustainability rankings, IoBM advances energy conservation, digital transformation and resource efficiency. Recent initiatives include a tree plantation drive and the launch of a Wall of Kindness in 2024. These actions reflect IoBM’s alignment with sustainable development goals (SDGs) 7 and 13 and its ongoing transition towards a low-carbon future.” Matt Gitsham, professor of business and sustainable development, Hult International Business School, US “We have a target to be net zero for scope 1 and 2 emissions by 2030 and
module. Our blended MBA reduces students’ carbon footprint substantially by delivering class sessions in a synchronous virtual format.”
“Our blended MBA reduces students’ carbon footprint substantially by delivering class sessions in
a synchronous virtual format”
Jako Volschenk
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INSIDER INSIGHT
Phungmayo Horam, professor for research and quantitative methods, Gisma University of Applied Sciences, Germany “Although specific net-zero emissions targets have not yet been published, Gisma is already implementing a range of sustainable practices across its educational model. Through digital platforms, such as an online library, paperless lecture delivery and digital assessments, Gisma significantly reduces paper consumption. “The school’s use of a ‘hyflex’ learning model, meanwhile, allows students to engage asynchronously and remotely, helping minimise travel‑related emissions and supporting flexible, low-carbon education pathways. “Sustainability is further reflected in operational policies that emphasise decarbonisation through digitalisation, ethical procurement and collaboration with like-minded academic and industry partners. Finally, the Gisma Think Campus in Potsdam was developed with sustainable design principles in mind, reinforcing the university’s long‑term commitment to environmental responsibility.” What is the best way for business schools to influence industry practices in relation to sustainability and climate change? Catherine Tilley “Learning is at the heart of all change: people don’t do new things until they’ve learned about them. So, since 2019 we have included business ethics and sustainability in all our undergraduate degrees and many of our postgraduate degrees too. However, in a fast-moving field like sustainability, we also need to update knowledge quickly and this is why we have the Centre for Sustainable
for scope 3 emissions by 2050. Our carbon footprint was first calculated in 2022 and we have recorded a decline in our footprint in each year since. “We have switched to renewable electricity supply contracts at all our campuses except Dubai (where this is currently not possible), while also investing to reduce electricity demand through the use of LED lighting, for example. In addition, we are engaging with specialist engineers to map out a transition to heat pumps to eliminate our scope 1 emissions across all campuses.” Catherine Tilley, impact director, Centre for Sustainable Business, King’s Business School, UK “King’s Business School is part of King’s College London, which has been working on emissions reduction for nearly 20 years. We support the delivery of university-wide targets related to sustainability, ranging from managing biodiversity to improving the sustainability of our food, our real estate and of course, ensuring that we mainstream sustainability in our
“We have switched to renewable electricity supply contracts at our campuses and are engaging specialist engineers to map out a transition to heat pumps”
Matt Gitsham
research and teaching. We are also active in using our skills and knowledge to trial new activities, such as a project designed to tackle food waste and improve the nutritional value of the food in our canteens.”
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Shahid Amjad “Business schools can shape future leaders by integrating sustainability across teaching, research and partnerships. At IoBM, SDGs are embedded into curricula, entrepreneurship is supported via the Shahjehan S Karim Incubation Centre (SSKIC) and capacity building occurs through faculty training on the integration of STEAM subjects [a STEM approach that incorporates the arts]. “In addition, collaborations with local and international universities, along with platforms like the International Conference on Business Management and Sustainability and the UNESCO Entrepreneurship Education Network (EE-Net)’s Pakistan chapter help promote applied research and policy dialogue.” Jako Volschenk “By far our biggest impact is through empowering our students to be responsible leaders in their own environments. While modules in our
graduates to lead businesses that are not only successful but also socially and environmentally responsible.”
Business, a dedicated research centre that works with companies and other stakeholders to co-produce relevant research focused on how business can make these changes happen.” Matt Gitsham “Our research with business leaders consistently shows how experiences from courses they studied 20-30 years ago influence how they respond to events today – business education matters and the topics we put on the curriculum, the questions we ask and the skills we help develop all make a difference. “It is, therefore, important that we raise topics relating to global challenges, such as climate change and energy transition, nature and biodiversity, human rights and inequalities and help create impactful learning experiences around them. It’s also important that this is integrated into all the core courses business schools teach, from strategy, finance and accounting to marketing, operations and supply chain.” Phungmayo Horam “Business schools can play an important role in shaping leaders who view sustainability not as a peripheral concern, but as a core driver of long-term business success. We embed responsible management and sustainability throughout our programmes, combining ethical leadership development with practical, real-world learning. “Beyond the classroom, faculty members actively collaborate with industry leaders and advisory boards to shape and support sustainable business practices. These partnerships help deliver low-carbon projects and ensure our teaching remains grounded in practice, preparing
“Business schools play an important role in shaping leaders who view sustainability not as a peripheral concern, but as a core driver of long-term business success”
Phungmayo Horam
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INSIDER INSIGHT
projects that translate sustainability concepts into practical outcomes. “One faculty member, for example, played a key role in an Indo-German expert mission on climate finance and forest carbon credits under the German Development Ministry’s Diaspora2030 programme. Another founded the Mirin Climate Centre, which currently manages more than 130,000 hectares of forest conservation in India under the climate mitigation framework, REDD+.” Jako Volschenk “Given our context in South Africa, we focus on multiple aspects of sustainability. Areas of particular emphasis in our research include carbon tax policy, regenerative agriculture, climate services, environmental co-opetition and social aspects of ecological crises.” Catherine Tilley “From a teaching point of view, we think it’s important for everyone to have a broad understanding of the topic at undergraduate level and we then offer specialist modules for students who want to deepen their knowledge. At postgraduate level, we include modules on sustainability in our MSc in International Management and our executive MBA and we have a specialist MSc in ESG (environmental, social and governance) Management. “From a research point of view, creating sustainable and socially responsible business is one of the school’s four ‘knowledge frontiers’ and within that the Centre for Sustainable Business looks at sustainable consumption; sustainable business systems; sustainable finance; and leading for sustainability. But we also touch on issues of sustainability in its broadest sense through our
business and development finance degrees focus on the role of business and policies, they also accentuate businesses’ moral responsibility to respond to sustainability challenges and even focus on regenerative practices.” Sustainability is a hugely wide-ranging topic. Are there any areas within it that your school currently specialises in? Shahid Amjad “IoBM focuses on sustainability through teaching, research and community outreach in the following areas: environment and energy management; Islamic finance and ethical investment; the circular economy; and digital sustainability via a paperless transformation partnership with Huawei. These areas align with SDGs 12 and 13 and represent IoBM’s commitment to building an integrated, interdisciplinary sustainability ecosystem.”
Phungmayo Horam “Our core strength lies in integrating sustainability with responsible management, innovation and the transformation of small and medium- sized enterprises (SMEs). Beyond establishing a dedicated SME research centre, our faculty lead high-impact “By far our biggest impact is through empowering students to be responsible leaders in their own environments” Jako Volschenk
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Jako Volschenk “For the past two years, we have sent students to the Amazon rainforest; a trip aimed at raising awareness of the impact of climate change.” Matt Gitsham “Our MBA and EMBA programmes include business challenges, where businesses are invited to share their current sustainability challenges for students to work on. For example, Bühler, a family‑owned Swiss- based multinational, challenged Hult students to help the company develop an approach to quantifying the contribution its products could help its B2B customers make towards achieving social aspects of the SDGs.” Phungmayo Horam “Our MBA students have the opportunity to participate in an exchange programme with the University of Europe in Amsterdam, as well as join the UC Berkeley Entrepreneurship “Our dedicated Sustainability Month helps students engage in a range of activities to build their awareness and understanding of the issues” Catherine Tilley
Bootcamp, Venture Lab and summer schools in Silicon Valley. These programmes allow students to collaborate with global peers on sustainable business ideas in some of the world’s leading innovation hubs. “On campus, our Skills Sprint Weeks connect students with sustainability‑focused employers that offer internships, deliver workshops and lead sessions on ESG-related topics. These activities provide direct networking opportunities with companies working in decarbonisation, the circular economy and green innovation, helping students gain both insight and access to real-world, impact-driven careers.” Shahid Amjad “IoBM organises events such as the International Conference on Education (ICE), which highlight education’s role in combating climate change. The SSKIC also hosts the UNESCO EE‑Net Start-up Readiness Programme, training students in sustainable business models, while the Eureka Fair, alongside initiatives such as the Founders’ GupShup [bringing aspiring entrepreneurs and business leaders together] and the Spark High School Internship Programme promote green innovation. Aligning with SDGs 4, 9 and 13, these initiatives also help prepare students for sustainability-focused careers.” Can you tell me about an exciting student/graduate project in the field of climate change or sustainability that is attached to your school? Phungmayo Horam “Milli Crowdfunding is a platform co‑founded by a Gisma alumnus and current faculty member that empowers
other research themes, including the modern workplace, improving health and public services organisation and strengthening economic and financial systems.” Matt Gitsham “Our school’s research on sustainability centres around accelerating achievement of the UN SDGs. Within that, it is focused on the following five themes: how to lead industry- level transformations on climate and other sustainability challenges; the evolving role of senior executives in organisations and how we can support leadership for sustainability; how to encourage innovation and entrepreneurship for the SDGs; how to embed action on human rights across different industry ecosystems; and how we can advance action on diversity, equity, inclusion and belonging.” Do you run any student trips, fairs or activities that focus on raising awareness of the key challenges and/or emerging career opportunities around climate change or sustainability? Catherine Tilley “We have a dedicated Sustainability Month (in February) where the whole university runs events to help students engage in a wide range of activities that builds their awareness and understanding of the issues. Within the business school, this has resulted in a student-led project to ‘nudge’ staff into managing our energy consumption better and a fun Climate Escape Room. “King’s Business School has also organised a number of events and panel workshops giving information about careers in sustainability, including a women in ESG event for International Women’s Day.”
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