The Top B-Schools For Sustainability - Poets&Quants

The Top Business Schools for Sustainability

Sustainability is taking over at business schools.

In recent years, MBA programs around the world have accelerated the push to teach sustainability from resource use to sustainable accounting.

Corporate Knights recently released its 2018 Better World MBA Ranking—a comprehensive ranking of MBA programs on their sustainability performance.

This year, Warwick Business School topped the list for sustainability. Last year’s runner-up, Warwick swapped spots with the University of Exeter Business School. The top five were rounded out by the Schulich School of Business at Canada’s York University, the Griffith Business School of Australia, and the University of Vermont.

WHAT EXACTLY IS SUSTAINABILITY?

Sustainability is an all-encompassing term. In the MBA world, sustainability is commonly referred to as a “green MBA.”

“MBAs with a concentration in sustainability are unique in that they focus specifically on the intersection of sustainability and business success and ethics, using the well-trodden framework of a conventional Master of Business Administration to advance sustainability principles,” Nikki Gloudeman, a writer at GreenBiz, explains.

To many, sustainability may ring notions of the environment. But the term also includes social sustainability.

“Social issues are a critical part of sustainability, and no social impact may be as important as those affecting diversity, inclusion and marginalization,” according to Corporate Knights.

METHODOLOGY

Corporate Knight’s Better World MBA Ranking considers a number of factors. The ranking automatically includes all schools featured in the most recent Financial Times MBA Ranking.

Schools were graded on five main factors: institutes and centers, curriculum, faculty research, female diversity and racial diversity.

Institutes and centers, the first factor, was given a weight of 10% and was measured by “counting the number of research institutes and centers up to a maximum of five that are fully or substantially dedicated to areas of sustainable development.”

The curriculum factor earned a 30% weight. Curriculum was measured by “determining the proportion of a school’s mandatory courses in its full-time MBA program that integrate relevant sustainable development themes.”

Research was the third factor and was weighted 50%. Corporate Knights considered two sources when it came to research: “the number of peer-reviewed publications in academic journals with sustainable development topics between 2015 and 2017 that were authored or co-authored by a faculty member of the business school, and the number of citations per faculty member.”

Gender diversity was given a 5% weight. This factor was determined by examining the percentage of women faculty at each business school.

Lastly, racial diversity was given 5% weight and was measured by “looking at the percentage of faculty members who can be identified by photo, name or biography as clearly not part of a country’s majority race or ethnic group.” Interestingly enough, Corporate Knights compared the diversity of a school’s faculty with the overall diversity of the country where the school is based.

WHAT DO THESE RANKINGS INDICATE?

Corporate Knight’s Better World MBA Rankings cover a ton of ground. But the ranking highlights an important shift in the business world.

For one, businesses are becoming increasingly conscious of how they are affecting the world around them.

“There isn’t a business on the planet that doesn’t require an executive to be mindful of environmental and social impacts,” according to Corporate Knights.

That consciousness has serious environmental considerations.

“Petroleum and mining companies, working on the edge of human civilization, have long faced criticism for changing landscapes and discharging waste,” according to Corporate Knights. “Tech firms, which might seem insulated from scrutiny because they’re headquartered in big cities, own electricity-hungry data centers and source their metals from mines in the developing world.”

But it also encompasses social impact.

“Companies are routinely accused of underpaying or underrepresenting women, people of colour, Indigenous peoples, people with disabilities and those who identify as LGBTQ+,” according to Corporate Knights.

Steve Howard, the former chief sustainability officer at Ikea, summed up the importance of sustainability recently at Bloomberg’s Sustainable Business Summit in London.

“Real change is hard, so doing what you did last year and doing it slightly better is what we tend to do in larger businesses,” Howard said. “But the power of going 100% all-in, from a target point of view, is breath-taking. When you set a 100% target, you create absolute clarity on what the future looks like.”

Check out which school made the cut in this year’s Corporate Knights sustainability ranking.

Sources: Corporate Knights, GreenBiz, edie.net

Applying For An MBA With Military Experience

If you have military experience, you may have a distinct advantage when it comes to applying for the MBA.

Ilana Kowarski, a reporter at US News, recently spoke to experts on how military veterans and active-duty military personnel can use their military experience as an advantage in MBA applications.

WHAT MBA ADMISSIONS OFFICERS LOOK FOR

When it comes to the MBA, there are a few critical skills that admissions officers seek in applicants.

Kristen Moss, Stanford GSB Assistant Dean and Director of MBA Admissions, says leadership is one of those critical traits.

“One of the things that has been proven over and over in research is that highly inspirational leaders who get the highest level of performance from their organizations really know what drives them, and they are thinking beyond themselves to the problems they can make change and have an impact on,” Moss says. “So in our application one of our key questions is ‘what matters most and why?’, and it has been an iconic question for a long time. Taking the time to understand what matters to you will be your true north as a leader no matter what school you go to in the rest of your life… You will be one step ahead of the game in terms of being able to motivate others.”

Alex McKelvie, associate dean for undergraduate and master’s education with Syracuse University’s Whitman School of Management, says military MBA applicants tend to have the sought-after skills.

“We are looking for students who have leadership experience and can work as part of a team,” McKelvie tells US News. “These are fundamental skills for business and being able to demonstrate that in previous military experience, such as having worked as an officer, is important.”

HOW MILITARY EXPERIENCE HELPS

Experts say MBA applicants with military experience have the discipline and grit necessary in business.

“A lot of military people are thrust into very challenging situations, war or not, at a very young age. And a lot’s expected of you, and the standards are high,” René Bruer, a Marine Corps veteran and co-CEO of Tallahassee-based financial advising firm, Smith Bruer Advisors, tells US News.

Bruer says his own personal injury in the military taught him adversity – an experience he was able to highlight in his MBA application to California Lutheran University.

“Some of these injuries will set you back, and they’ll set you back physically, and emotionally and discussing how you’ve overcome them, I think, that’s a tremendous benefit, because it takes a lot to overcome that,” he tells US News.

Military applicants also have the benefit of being given large responsibilities. Nick Armstrong, the senior director for research and evaluation at Syracuse University’s Institute for Veterans and Military Families, says that’s not commonly found in other applicants.

“Veterans bring unmatched leadership and a wealth of lived professional experiences that are highly valuable in classroom settings, particularly those focused on management, strategy, and human resources,” Armstrong tells US News. “In addition, by design, the military reassigns service members into new roles every few years, thereby providing new experiences to learn and grow in different positions.

Sources: US News, Poets & Quants 

Executive coach Randy Marcuson coaches a student in UNC’s leadership immersion capstonew

The Role of Mentorship For Female MBA Grads

Gender equality has joined the forefront of social commentary in recent years. For many women, especially those in business, finding the right mentor can be challenging.

Maura Herson, the assistant dean of the MBA Program at MIT’s Sloan School of Management, recently wrote a Financial Times piece explaining how female MBA graduates can seek out mentors.

THE IMPORTANCE OF MENTORSHIP

Mentorship is extremely important for women to succeed in the business world.

Rebekah Wallis, people and corporate responsibility director at Ricoh, says mentorship has helped her develop key skills for leadership.

“The more that you mentor, the better you become. I’ve personally developed my listening, perspective, self-knowledge, compassion and courage, all wrapped up with integrity and trust – and all of which enable you to be a better leader in your own right,” Wallis tells The Telegraph.

Mentorship can also be critical for women trying to navigate a business world that’s filled with men.

“I’ve always advocated that women be aware of their personal brand, what they bring to the role, how they want to be perceived by others, and the power of building networks, which can be more important for success than skills and knowledge,” Lynne Chambers, group head of talent at the London Stock Exchange Group, tells The Telegraph.

THREE TYPES OF MENTORS

Herson outlines three types of mentors that female MBA grads should seek out.

The first type of mentor is the “coach.” According to Herson, the coach helps you “develop skills and capabilities, and prepare you for advancement by providing constructive feedback.”

The second mentor is the “sounding board.” The sounding board, says Herson, “provide[s] guidance on important choices about your career, graduate school and work-life balance.”

The last mentor is the “champion.” Herson notes that this type of mentor is the most critical out of the three.

“These are people who will advocate for you for high-profile assignments, promotions or board positions,” she writes.

While Herson says not all three are needed, each mentor plays a crucial role throughout a career.

“In the beginning, you may need someone to help you navigate the organization,” she explains. “As you advance, you may need to cultivate relationships with people in different parts of the organization and find mentors to champion your projects. And throughout, you will need a sounding board to help sort out career and life decisions.”

Mentorship, Herson argues, is critical in building a network of support. That network, Herson says, is beneficial to everyone.

“There are plenty of good men and women willing to be mentors,” she writes. “Take the time and effort to build that network. And remember that the shift starts early from being a mentee to becoming a mentor. One of the greatest things women can do to support each other is to become mentors and bring up the women behind them. The bottom line is that mentorship helps everyone.”

Sources: Financial Times, The Telegraph

 

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