INSIDER INSIGHTS
Given that we’ve moved past the theory of shareholder primacy, how do you teach students on a practical level to balance profit with planet and people? Adrian Buss: “On the MBA programmes at Frankfurt School of Finance & Management, we aim to provide students with a holistic understanding of the relevance and importance of addressing the needs of a wide range of stakeholders (including shareholders). As a result, we do not have a separate course dedicated to sustainability or ethical topics. Instead, we have carefully integrated those topics into our various core courses. “For instance, students explore sustainability reporting together with financial accounting. Similarly, the finance course not only covers traditional corporate finance topics such as valuation and cost of capital, but also how ESG (environmental, social and governance) aspects affect a firm’s value, financing costs or capital budgeting. Our elective courses, such as Sustainable Finance or Supply Chain Excellence & Sustainability, then give students the opportunity to further deepen their understanding of how to balance profit with the implications for the environment, local communities and society.” Eva Guerra-Leal: “At EGADE, we frame this challenge as a question of long-term value creation. Businesses today operate within complex ecosystems where economic performance is deeply intertwined with environmental sustainability and social wellbeing. This is very relevant in a region like Latin America, where business education remains in a technical paradigm that limits students’ capacity to understand inequalities and identify social challenges. Our role as educators is to help future leaders appreciate the social and environmental implications of business, be able to act on this complex reality and make conscious decisions. “Preparing students to balance profit with broader social responsibilities requires us to consider the financial, social and environmental cost of every decision. This involves not only technical knowledge, but also competencies such as systems thinking, ethical judgment under complexity, stakeholder management and the ability to translate sustainability into measurable business decisions. “We take an integrated approach in our curriculum and across all our EGADE programmes, as well as in our master’s in sustainable business. This is designed
“Another example of our experiential learning is the EGADE Action Week, where students collaborate with companies, NGOs and public institutions to tackle real business challenges linked to the UN’s sustainable development goals. These projects allow students to apply financial and strategic analysis while considering the broader impact of business decisions.” Nick Quinn: “For us at the Adam Smith Business School, moving beyond shareholder primacy isn’t just a slogan; it’s how we teach day to day. From the start of the programme, MBA students work with both Glasgow-based and international companies on live challenges, where they need to evaluate costs, impacts and trade-offs in real time. They present options to stakeholders and have to explain why, for example, a short-term compromise might be worth it if it builds long-term strength through more sustainable approaches that support people and communities. “We then keep circling back to this through site visits, hands-on analysis and outdoor sessions that ground decisions in the real world. Peer challenge and structured reflection help them to see how other perspectives sharpen their own judgement. By the time they graduate, students are used to thinking in terms of stability, resilience and shared impact, not just this financial quarter’s numbers.” Sandra Richez: “ESG topics are transversal – in many firms, this means running cross-disciplinary projects that cut across traditional silos. This requires more complex problem- solving and systems-thinking skills, as well as awareness of the growing regulatory, economic and social landscape. “First of all, we require our students to participate in foundational ESG courses that deepen their understanding of CSR, sustainability, business ethics and diversity & inclusion. Then we ask them to further explore these topics with courses such as Ethical guidelines in AI, ESG Reporting in Accounting and Circularity in Marketing & Operations. “At EDHEC, it’s impossible not to learn more about sustainability in the business world, given that ESG topics are interwoven into more than 80 per cent of the MBA programme’s coursework, so there’s very little learning that isn’t oriented towards balancing profit with planet and people. “Our Sustainable Impact Challenge invites students to tackle real-world sustainability challenges alongside corporate executives. Students also embark on a Sustainability Learning Expedition to shadow global business leaders who are implementing ESG strategies in real time. Spending time with business leaders on the front lines of the sustainability transition is a game changer for students, often deepening their commitment to serving as sustainability ambassadors.
for executives and entrepreneurs seeking to turn sustainability into a competitive advantage that drives profitability while creating economic, social and environmental value.
Ambition • ISSUE 2 • 2026 17
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