Issue link: https://www.e-digitaleditions.com/i/499026
MAY | JUNE 2015 BizEd 29 communities, the idea of impact has spe- cial resonance for schools in emerging markets. They know that their training, research, and business innovations have the potential to rebuild economies, uplift communities, and save millions of lives. Rangnekar notes that even though the work of the CEMS now has been absorbed into various institutes, its philosophy of "making an impact on society" has been deeply integrated into ISB's larger vision. That vision has translated into the development of more than 120 India-centric cases for business schools, as well as an intern- ship program for undergraduate engi- neers focused on finding market-based solutions for emerging economies. It also has inspired the school's iDiya National Social Venture Competition in which only Indian working profession- als not currently enrolled full-time at any educational institution are eligible to compete. In 2014, the competition attracted 106 team entries from more than 400 participants. The school wants to inspire ideas anywhere and everywhere, says Rang- nekar. "The iDiya competition is our eˆort to help working professionals create impact in the social sustainability space," he says. "We focus on impact in everything we do." The same is true at INSEAD, says Rao. She points to the EMI's participation in the U.N.'s Business Schools for Impact Initiative (see "Impact Project" on page 28). "We are committed to educating MBAs on the need to factor in 'impact,' as well as 'risk and return,' as they make their future career choices," she says. Going forward, all business schools must work to create inclusive models of business education that incorporate both global and local concerns, stresses Myasoedov of IBS-Moscow. "We must acknowledge that there are peculiarities when it comes to implementing man- agement principles in diˆerent parts of the world. We must train future leaders and entrepreneurs to be more adaptive and work more eˆectively. They should know that diˆerent cultures have very diˆerent problems." Whether these markets truly are emerging, dynamic, or something in between, Myasoedov, Rangnekar, and Rao remain optimistic about their futures. Says Rao, "We may just be moving toward a more equitable world where education breaks the barriers of a©uence and class." And business schools, in many instances, will be the ones leading the charge. Business has changed. And that means the way we do business has changed. Leading in the 21st century means building relationships around the world, with more input and output from every corner of the globe. At Arizona State University's W. P. Carey School of Business, we're developing a global educational infrastructure with universities around the world. By strengthening existing bonds and forming new partnerships, we're creating more opportunities for more students — and charting a new course for doing business in the 21st century. wpcarey.asu.edu OPENING DOORS IN CHINA FOR MORE THAN A DECADE Teaming with Shanghai National Accounting Institute (SNAI), we launched the highly ranked Executive MBA in Shanghai — the first partnership between a U.S. business school and the Chinese government on Chinese soil — in 2003. PARTNERSHIPS WITH INSTITUTIONS ON SIX CONTINENTS Innovating academic programs and critical research through exchanges and agreements with premier inter- national universities. PREPARING STUDENTS FOR THE WORLD AHEAD Welcoming students from 90+ countries each year, and broadening horizons through degrees that examine cultural differences in Spanish- and Mandarin-speaking countries. global engagement in a flat world