Issue link: http://www.e-digitaleditions.com/i/55878
Headlines An Oath for Business Business Schools and Innovation AACSB International has released Business Schools on an Innovation Mission, a special report examining the role business schools play in supporting innovation in society. The report, which was compiled by the Task Force on Business Schools and Innovation, makes a persuasive case that business schools are important catalysts for innovation—and they can do even more if they mobilize their strengths. "This report clearly positions management and leadership, along with science and technology, as vital components to the innovation value chain," says John J. Fernandes, AACSB's president and chief execu- tive officer. "Business school gradu- ates play a critical, and in some cases, defining role by making strategic investments, building organizational capacity to innovate, reinventing management processes, and more. 10 BizEd JULY/AUGUST 2010 Thus, business schools can, and should make a concerted effort to incorporate innovation as a critical element of their strategy." The global recession has caused policy makers to pay increased attention to innovation, points out Robert S. Sullivan, dean of the Rady School of Management at the University of California, San Diego, and chair of the Task Force. "The report highlights the significant role that leadership and managerial talent plays in the suc- cess of innovation strategies, and why they must be developed in a way that complements science and technology policy initiatives." The report encourages schools to integrate innovation into their educational and research objectives, work closely with other depart- ments within the university, and get involved in public policy discussions related to innovation. More infor- mation can be found at www.aacsb. edu/resources/innovation. A group of management organizations have formed an alliance to support The Oath Project, which promotes the idea of a professional oath of honor for managers worldwide. The Oath Project was first announced in conjunction with the launch of the Global Business Oath, an initiative of the World Economic Forum's Young Global Leaders. It was established by Ángel Cabrera, president of the Thunderbird School of Global Management, and Harvard Business School professors Rakesh Khurana, Rob Kaplan, and Nitin Nohria, Harvard's new dean. Other members of the alliance include the United Nations Global Compact, the Principles for Responsible Manage- ment Education (PRME), the MBA Oath, the Aspen Institute, and the Association of Professionals in Busi- ness Management. The goal of The Oath Project is to serve as a "hub" that supports the many people and organizations working to advance the concept of an oath for business managers. Project leaders agree that, for the concept to succeed, all the organizations need to find consensus on this issue. "The idea of a 'Hippocratic oath' for business manag- ers is certainly not new," says Rich Leimsider, direc- tor of the Center for Business Education at the Aspen Institute. "But it is an idea whose time has come. We are working together to build a robust profes- sional culture that can transform the practice and aspirations of manage- ment worldwide." RYAN MCVAY/GETTY IMAGES GLOW IMAGES/PHOTOLIBRARY