The cascading effects of globalization in the form of changing business environment, economic uncertainties and economic meltdown have brought about a plethora of unprecedented challenges for industry and organizations across the globe in recent years. Management education, which prepares human capital for industry, is expected to address these challenges along with others such as intensifying competition, advancing technology, increasing workforce diversity and accelerating complexity. Yet, current management education is largely based on traditional capitalism where the focus tends toward profits and competitiveness rather than toward a balance among profitability, responsibility, social accountability and sustainability. Consequently, management education in general, and MBA education in particular, need to adopt a paradigm shift in order to be more responsible and sustainable. This book has been prepared keeping in view the Principles for Responsible Management Education (PRME). The PRME initiative is the largest organized relationship between the United Nations and business schools. The book unfolds an alternative paradigm in management based on a competency framework labeled as CAMB (Sharma 2015) for Principles for Responsible Management Education. This model has found validation with many PRME schools. The book contains a brief interview with the Professor R. Edward Freeman, the pioneer of Stakeholder Theory. The book contains contributions on the core management topics covered in general management, organizational behavior, ethics and social responsibility, with a focus on responsible management. Its chapters come from many authors in PRME schools from eight countries. Hence, it is expected to be useful to all the B-schools, across geographies, that are interested in embedding responsibility in their management curriculum and teaching methodology.
Keywords
Context of Management Education, Corporate Governance, CSR, CSR Tools for Financial Institutions/SMEs, Ethics for Sustainable Organizations, Ethics in Business, Goal Setting and Decision making