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Academic Institutions Agree to Develop Principles for Responsible Business Education

(New York, 26 October 2006) – Academic institutions from around the world have agreed to join forces with the United Nations Global Compact to develop Principles for Responsible Business Education, a framework for action for the academic community, based on the Global Compact’s ten principles in the areas of human rights, labour, environment and anti-corruption. The new principles are intended to help academic institutions function as a strategic partner in the advancement of good corporate citizenship worldwide. 

The agreement was reached at the Business as an Agent for World Benefit Forum, held in Cleveland/Ohio this week. The Forum was organized by The Academy of Management, the Weatherhead School of Management at Case Western Reserve University, and the UN Global Compact. Among the institutions that agreed to participate in the project to draft the Principles for Responsible Business Education are the Academy of Management, the British Academy of Management, the Association to Advance Collegiate Schools of Business, the European Foundation for Management Development, the European Academy of Business in Society, as well as key initiatives in the field of responsible management education like the Global Responsible Leadership Initiative, Harvard University’s Social Enterprise Knowledge Network, the Caux Roundtable, and two global student associations, AIESEC and Net Impact.

As a next step, the Global Compact Office will convene a drafting group consisting of approximately 50 representatives from key stakeholders, the deans of Business Schools from both the developed and the developing world, and recognized scholars. The Principles will be launched at the Global Compact Leaders Summit, to be held in Geneva on 5-6 July 2007.

Following next year’s Summit, a Global Council for Responsible Business Education will be created as the body in charge of linking academic activities and local operations of the Global Compact in every country where the initiative is present. The Council’s goal will be to give new momentum to the development of learning capacities, stimulate new research, case studies, and provide technical support and added capacity to the Global Compact and responsible corporate citizenship worldwide.

For more information about the BAWB Forum, click here.

Manuel Escudero