THOMAS KOSTIGEN'S ETHICS MONITOR
Beyond dollar signs
MBA students see green as the way to go
By Thomas Kostigen, MarketWatch Last update: 8:44 p.m. EDT Aug. 7, 2008 Comments: 1
SANTA MONICA, Calif. (MarketWatch) -- A new legion of leaders is seeing green beyond the dollar signs. MBA students are opting for curricula that include more "green" courses so they can be better prepared to join a business world they perceive will be more socially conscious. Call them the Zen class of 2010: They are seeking more social, environmental, and economic perspectives built into their education. "The New Green Focus for Future MBAs" headlines Greenbiz.com. And, it's the most popular story on the site. At the same time, a new poll by Experience Inc. shows more students are hoping for a job with a green-minded company. The poll says 81% of students believe there is value in working for an environmentally aware company, while 79% would likely accept a job at an eco-friendly company over a conventional one. "In a few short years, eco-friendly practices have gone from being new-fangled selling points to becoming essential requirements, with states vying with each other to offer incentives and legislation that promote green technology and business. While the corporate world is scrambling to devise strategies to address sustainability, business schools across the country have been incorporating it into their curriculum for the past several years, both in response to student demand and in line with industry trends," Greenbiz says. These schools include those founded with the idea of integrating sustainability into a business education, such as San Francisco's Presidio School of Management, as well as Ivy League institutions. The Aspen Institute actually conducts a school ranking, Beyond Grey Pinstripes, based on environmental stewardship curricula. (Stanford University ranks No. 1.) Seismic shift What's happening is a distinct shift in consciousness. The stereotypical MBA student looking to make his or her mark on the world through a successful career on Wall Street or within the ranks of Corporate America has become a different type of character, someone who hopes to effect social change through business and finance rather than merely profit. This is evidenced by personal ethics too: Another survey, this one by Alloy Media + Marketing, finds that a growing number of college students in the 2012 class prefer socially responsible brands themselves. Perhaps students are seeing the future of business based on their own experience with it. If their consumer preferences beget more socially responsible products and services, it makes sense for them to head down the path of "good" stewardship.
Corporate social responsibility, whether in the classroom or the board room, is taking the business community by storm. Take a look at the newspaper on any given day: stories about the environment and/or initiatives to make the world a better place are prominently placed in the business section. Jobs to be had MBA students are smart to step up their education in this area. The student organization Net Impact reports the number of CSR jobs has grown 37% over the past four years. Companies need to fill these positions and students with degrees and educations in social responsibility areas will win out. Ethics officers, environmental consultants and corporate governance specialists are now common corporate positions. They will also lead to further growth in the area as these prophecies become self-fulfilling and manifest into new socially and environmentally conscious products and services. Companies may want to take their cues off students too. After all, college students, according to estimates, represent more than $50 billion in consumer spending. This may be a new way to recruit top MBAs: make socially conscious products that appeal to them -- and then hire them when they graduate. They might just pay for themselves. That's good, green business practice in every sense of the word green.