Written by: Sarah Kaplan
Published by: Poets&Quants
MBA News Digest Comment: None.
Extracted Content: As Larry Fink, CEO of Blackrock, wrote in a recent Letter to CEOs: “We … see many governments failing to prepare for the future, on issues ranging from retirement and infrastructure to automation and worker retraining. As a result, society increasingly is turning to the private sector and asking that companies respond to broader societal challenges. Indeed, the public expectations of your company have never been greater. Society is demanding that companies, both public and private, serve a social purpose.” According to the latest Edelman Trust Barometer, fully 92% of people think that CEOs speak out on these issues, but many think today’s leaders don’t do enough.
So far, though, business schools — the place where many future leaders are trained — are failing to respond meaningfully. Some schools are revamping their ethics courses or adding a social entrepreneurship track in their program. But we would be hard-pressed to find any school really reinventing itself to face up to the social crises and the appropriately increased expectations of leaders.