Responsible Management Education for 21st Century Leadership

In the aftermath of the 2008/09 financial crisis, business schools had to face increasing criticism to have failed equipping their students with a broad and critical understanding of management and business practices which go beyond pure self-interest. Business schools are supposed to contribute to a holistic understanding of management which creates value along a triple bottom line: profit, people and planet. The triple bottom line finds its realization in the concept of sustainable corporate responsibility. This paper discusses possible approaches for business schools how to educate students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy. On the basis of the recently published Principles for Responsible Management Education (PRME) as well as contemporary learning theories, the paper provides concrete recommendations how to foster students’ development towards long-term thinking, responsible business leaders. The paper argues that student learning needs to occur within powerful learning environments to provide an active, problem-based and self-directed acquisition of knowledge, skills and attitudes. Two approaches to create best-practice learning environments are real-life case studies and real-life student projects which both lead to a strong buy in of students, faculty and company partners. Both approaches are exemplified with the bachelor degree program International Management at the Zurich University of Applied Sciences (Switzerland). As a conclusion, a responsible management education fosters the students’ knowledge, skills and attitudes towards responsible business leadership to shape the future direction of the 21st century.