The United Nations’ PRME secretariat has recently released the third sharing of progress (SIP) report submitted by La Trobe Business School. In the document, LBS details the achievements that illustrate its ongoing commitment to each of the six Principles for Responsible Management Education (PRME), developed further since the last report was submitted in 2014. This work makes a significant contribution to the ways in which LBS fulfils its mission.
The report can be viewed here.
What does PRME stand for?
The six PRME principles provide a framework for business schools as they seek to develop competent and responsible managers through education. The program was conceived by way of a recommendation of the academic stakeholders from the United Nations Global Compact. The six principles were developed and adopted in 2007 by an international task force of sixty deans, university presidents and official representatives of leading business schools and academic institutions.
The PRME philosophy sits alongside the United Nations Sustainable Development Goals (SDGs), formally adopted in Paris in 2015, as part of the universal, integrated and transformative 2030 Agenda for Sustainable Development. The 17 SDGs balance the three dimensions of sustainable development: the economic, social and environmental. The Goals and targets provide a framework to stimulate action over the next 14 years in areas of critical importance for the long-term sustainability of human society and the planet, build on the Millennium Development Goals (MGDs) and complete what the MDGs were unable to achieve.
LBS’s commitment to the UN PRME
Since joining UN PRME in 2007, La Trobe Business School has been actively engaged in embedding responsible management, not just in its curriculum and research activities, but also at an institutional level. The School has laid the foundations for the next phase to expand its activities through dialogue (the sixth principle). This success to date means that LBS can more effectively engage in dialogue with stakeholders, and share its understandings more broadly.
La Trobe University values its Business School’s capacity and the opportunity to engage with the demands of responsible management education. LBS and the University have a longstanding commitment and philosophy to foster new generations of responsible professionals. La Trobe Business School aims to educate and encourage students to carry responsible management into their workplace along with a thorough understanding of the Sustainable Development Goals (SDGs).
LBS also continues to take the requisite steps to ensure that undergraduate and postgraduate courses, research programs and activities, strategic frameworks and its overall philosophy provide enabling environments for meeting the principles and the accompanying demands of educating about responsible leadership. This includes teaching current perspectives in corporate social responsibility, corporate governance, business ethics, gender balance, diversity, sustainability accounting, and environmental and resource economics across many of the LBS courses and subjects. In addition, the assessment modules are consistently reviewed and designed to emphasise these values to students and provide them with practical applications of responsible management.
New initiatives taken by LBS
Since 2014, many exciting new developments have taken place within La Trobe Business School that further contribute to its work around responsible management. The creation of the Yunus Social Business Centre, the SAS Analytics Innovation lab and the appointment of 11 Professors of Practice to the Business School stand as flagship achievements between 2014 and 2016.
The Sustainability Thinking, Global Citizenship, and Innovation and Entrepreneurship Learning Essentials of LTU provide an excellent platform to further support, grow and direct LBS students to recognize the global contexts in which they will work, exchange values and perspectives, act across cultures and borders and to work with, and within, diverse communities.
Since mid-2015, more than 2000 undergraduate students have completed La Trobe Business School’s second year Sustainability subject, one of three Learning Essentials for the School and the University. Within the MBA Program, LBS offers core subjects that engage with PRME. The University is also leading in the creation of innovative learning and research environments for students through the Hallmark Program and industry outreach including partnerships with local government, and in the community. The University also provides greater access to tertiary education through scholarship programs and the early entry Aspire program.
A number of LBS academics from a wide range of disciplines continue to undertake research projects that are closely aligned with the PRME principles. These include projects related to sport and social impact, the role of technology in supporting the wellbeing and sustainability of human society, climate change impacts on business, accounting and human rights, rural tourism and sustainability, and data analytics for improved healthcare outcomes.
LBS will continue to use this research platform to create new, and build on existing, engagement opportunities with external stakeholders and partners such as sporting organisations, government agencies and departments, accreditation bodies, NGO’s, private sector organisations and consultancies.
Finally, La Trobe Business School is proud to be nominated as one of 30 leading institutions from around the world to participate in the pilot phase of the PRME Champions Group.