Realising responsible leadership through technological advancement

This transformation is not about shifting education entirely into the digital realm (the popularity of exclusive online education has waned in the post-pandemic era.) Instead, schools must take a holistic approach to education by integrating innovative technologies into traditional teaching methods.

The QS Generative AI Student Pulse Survey 2023 revealed that students who are familiar with AI technology think it is more important to be incorporated into their curriculum. Of those who said they are very or extremely familiar with the technology, over two thirds feel it is very important.

The delicate balance of blended integration results in an adaptive and enriched educational experience, focused on delivering the best outcomes for students in the ever-changing world of business education. The ultimate aim is to cultivate responsible leadership capable of navigating economic prosperity, social impact, and environmental stewardship.

The noble path of sustainable leadership

At the heart of sustainable business practices lies responsible leadership. It is a path that must be treat carefully, moving beyond economic growth to resonate with profound social and environmental consequences. Reputational motives may have initially driven this shift, but it is having increasingly far-reaching effects as businesses adapt to the values of newer, more environmentally conscious clients and stakeholders.

To pursue this transformative vision, over eight hundred business schools worldwide have rallied around the Principles for Responsible Management Education (PRME) endorsed by the United Nations. This noble engages multinational institutions, business schools and corporations in nurturing responsible leadership and fostering transformative education on corporate sustainability.

Embarking on a quest for educational reform

Sustainability has undergone a profound transformation, evolving from a desirable skill to an absolute necessity for every business leader. Organisations have shifted their focus to issues like carbon emissions, environmental, social, and governance (ESG) objectives, and the sustainability of business processes.

Educational reform is an important aspect of nurturing responsible leadership and infusing sustainability into the corporate world. Curriculum design is crucial in this process, facilitating the emergence of leaders who not only understand the far-reaching consequences of their decisions but also can balance the interests of diverse stakeholders.

Of the 116,000+ students surveyed in the QS International Student Survey 2023, 65% feel that institutions should encourage and facilitate participation between students and local community around social sustainability efforts.

ESSEC Business School’s Global MBA programme embraces sustainability as an ethos that permeates the institution, harnessing digital technology and virtual reality (VR) to facilitate sustainability. Through VR, students partake in immersive experiences that transcend geographical boundaries, enhancing their understanding of sustainability while minimising the necessity for physical travel.

The ESMT Berlin Responsible Leaders Fellowship enables successful graduates to volunteer pro-bono at a social impact organisation in emerging areas of the world, while earning a salary from the school’s donors. The initiative focuses on the concept of ‘paying it forward’ and emphasises the knowledge that the power of leadership comes with responsibility.

Business schools are thoughtfully tailoring their curricula to embrace the principles of environmental, social and governance (ESG) matters, equipping students with the skills to address the multifaceted dilemmas of environmental and social challenges.

The student-centric approach

Students are often seen as the architects of the future – the trailblazers who will shape politics, innovation, and leadership. Students play a central role in the adoption and success of AI technologies in teaching sustainability.

49% of students are already using AI technology for personal projects and 35% use it for research and study projects (QS Generative AI Student Survey 2023), illustrating that the technology is already being embedded into student life.

To enhance AI-powered sustainability education, students must be encouraged to embrace AI as a tool for learning and undergo training and familiarisation to maximise their potential. Actively seeking feedback from students is crucial when integrating any new technology into existing teaching methodologies and tools and fosters the exploration of new avenues for addressing sustainability challenges and collaborative projects.

Additionally, instilling a sense of responsibility and ethics in students ensures the ethical use of AI for sustainability, promoting a culture of responsible behaviour that will have an impact beyond the classroom.

In the pursuit to enrich the student experience in teaching sustainability, business schools are increasingly forming partnerships with external stakeholders. These alliances extend beyond the business school walls, encompassing initiatives such as internships and capstone projects. Such hands-on experiences empower students to apply their knowledge in the real world, where theory meets practical application.

A map towards sustainability

Immersive technologies in the Metaverse effectively bridge the gap between theory and practice. Students benefit from risk-free decision-making, allowing them to make choices with real-world consequences in a safe and controlled space. Without the need for physical infrastructure, sustainability education becomes more affordable and accessible to a diverse range of students.

Institutions like IE University are at the forefront of this transformative wave, pioneering the application of extended reality (XR) technologies, which encompass virtual reality (VR), mixed reality (MR), and augmented reality (AR). IE University's dedication to the Metaverse underscores its commitment to preparing students for the evolving digital landscape, where it plays a pivotal role in education and sustainability.

Henley Business School is committed to fostering research into Sustainable Development Goals (SDGs) and teaching business leaders how to utilise sustainability data to enhance their organisations. One example of this commitment is the short course they offer on Climate Intelligence: Using Climate Data to Improve Business Decision-Making, which empowers participants to leverage climate data, focusing on building climate resilience within businesses.

These initiatives exemplify best practices in sustainability education and leadership training by actively promoting SDG research and teaching business leaders how to utilise sustainability data effectively to benefit their organisations and the broader community.

Using the new technologies to incorporate the SDGs

The integration of the UN’s Sustainable Development Goals (SDGs) into business education presents unparalleled opportunities to establish a sense of corporate social responsibility in future entrepreneurs. This method not only enhances the relevance and impact of educational initiatives, but it also equips future business leaders with the necessary skills to actively address a variety of international dilemmas throughout their careers.

The 17 Sustainable Development Goals encompass a broad range of global issues, including the eradication of poverty, the mitigation of climate change, the preservation of the environment, and the establishment of ethical, just, and fair principles in commerce. The integration of these objectives into business school curricula and the subsequent implementation of innovative educational strategies can result in an academic experience that is both rigorous in terms of learning, and socially and environmentally conscious.

Quality education (SDG 4) provides a direction that is consistent with the objective of business learning to cultivate responsible leadership abilities, providing business institutions with an opportunity to offer educational experiences that are more societal by integrating educational content with digital platforms and AI-driven data. This method fulfils the objectives of SDG 4 by providing opportunities for lifelong learning and bridging educational disparities.

In the same vein, the development of leadership skills is closely linked to the achievement of SDG 8, Decent work and economic growth. Virtual apprenticeships, authentic workplace scenarios generated in simulations, and collaboration projects that replicate real-world challenges and bring diverse teams together for different perspectives in decision-making are all potential applications of education technology. These initiatives assist students in developing competencies around ethical decision-making, sustainable business practices and digital proficiency, which are indispensable for future success in the contemporary business environment.

By utilising innovative educational technology and AI to create immersive learning experiences that prioritise sustainability, students can witness sustainable development in action within a diversity of business contexts they would otherwise not have access to in person. Virtual reality and augmented reality applications can simulate the impact of a business decision made today on the environment or society in the future in a variety of cultural and economic contexts.

This approach enables students to develop strategies for sustainable business development and to visualise the repercussions of their actions. To achieve this, business schools in regions with robust manufacturing sectors could draw on learning solutions that pertain to SDG 12, Responsible consumption and production. Conversely, in financial centres, the emphasis may be on SDG 10, Reduced inequalities, to promote inclusive financial systems.

Leveraging the SDGs for data-driven learning opportunities

The integration of SDGs into business education presents new opportunities for data-driven monitoring and evaluation – the tracking of students' learning, interaction with and perception of SDGs in a business context using learning analytics. Practical assessments can also be integrated into curricula to support the development of critical work skills such as digital literacy, critical thinking, creativity and innovation, intercultural communication, collaboration, and teamwork, to name a few.

Such data can be used to inform and adapt a more individualised curriculum design by enabling educators to identify the SDGs or skills that require additional attention and leveraging the power of AI and digital technologies to create adaptive learning systems that adjust to the needs of the individual learner.

 When such data and outcomes are aggregated at the institutional or national level, policymakers and business leaders can then gain a better understanding of the effectiveness of education initiatives in transferring skills and promoting awareness of sustainable development in the business sector. This provides further opportunity to implement interventive improvements in the educational process to ensure intended future outcomes.

Nevertheless, there remain challenges that must be overcome. To prevent the perpetuation of extant educational disparities, it is imperative to ensure that all students have access to technology-based learning experiences. Content related to the Sustainable Development Goals (SDGs) must be contextually pertinent and adaptable to a variety of business environments, economic realities and cultures. Moreover, to effectively incorporate the SDGs and associated technologies into their teaching practices, educators will require ongoing support and training, and institutions may require advice and funding to bridge financial and knowledge gaps.

Shaping responsible leaders for a sustainable tomorrow

Modern technologies are pivotal in transforming education in business schools and graduate management programmes, propelling an educational revolution. Business schools that wholeheartedly embrace these pioneering technologies are shaping the next generation of responsible leaders who can adeptly navigate the complex terrain of sustainability—a realm where economic growth, social impact, and environmental stewardship can coexist side by side.

By leveraging technological capabilities to personalise learning, process data, provide support, and create engaging experiences, business schools can equip future leaders with the knowledge and skills necessary to drive positive change in the business world.

In this symbiotic relationship between AI, students and educators, business schools can fulfil their mission of nurturing responsible, competent, and skilled leaders for a sustainable future in the business world and, by extension, in society.