EXPRESS: Purpose-Driven Business Schools: Reframing the Value Proposition

Abstract

The world today is undergoing massive business transformations driven by geopolitical uncertainty, aging demographics and a vibrant digital economy. Furthermore, global competition is pushing business leaders to think outside their comfort zone and have an entrepreneurial spirit with an emphasis on risk taking. Purpose-driven business schools are the best platforms to develop human talent built on Academic Excellence, Business Relevance and Social Significance . Although the emergence of artificial intelligence would be a great enabler, purpose, rather than technology alone, should serve as the defining principle that integrates these three dimensions. This article proposes a conceptual framework for designing management programs that include: P urpose-driven focus, R esponsible leadership, I nterdisciplinary curriculum, S kills development, and a M indset beyond profits, i.e., a PRISM for reframing the value proposition of a business school. Drawing on leadership experiences across four globally recognized business schools on three continents, this article considers how these capabilities can be delivered through the Institutional foundations of Reputation, Relationships, and Resources, thereby preparing globally responsible graduates whose ambition extends from success to significance.