Beyond CSR: preparing future leaders for a global economy

Abstract

PurposeThis paper brings together two vitally important topics: one, the need for business leaders to take responsibility for the decisions they take and, two, how to help leaders develop a more holistic type of wisdom with firsthand experience of emerging markets.Design/methodology/approachThis paper looks at an innovative Leadership Development Program, in which people can learn in a practical, hands‐on way about the importance of corporate social responsibility.FindingsThe program takes high‐potential employees and partners them with SMEs in developing countries for a period of one month. During this time they mentor and advise partners of business issues affecting them. As a result, the organization benefits from increased staff retention and leaders who can function in a global context. Participants receive a once in a lifetime opportunity to experience a different culture and challenge themselves professionally.Practical implicationsLeadership development needs to focus more on hands‐on, real‐life experiences than dry lecture/training/role play/case study methods. Only in this way will leaders learn how to balance the bottom line needs of all business with their social responsibilities.Social implicationsBy helping businesses within developing communities grow, participants are contributing towards their economic development.Originality/valueThis paper is of use to organizations looking retain and develop their future leaders and other high‐potential employees; see growth in emerging markets; and integrate Corporate Social Responsibility (CSR) initiatives into something that benefits all parties involved.