Next Generation Of Business Leaders Research Articles

Achieving Societal Impact Through Community-Engaged Learning: Strategic Recommendations For Integrating AACSB Societal Impact Standards Into Marketing Courses

ABSTRACT In the context of integrating the 2020 Association to Advance Collegiate Schools of Business International (AACSB) revised standards on societal impact and the United Nations Development Goals (UN SDGs), this paper provides a detailed guide for developing and implementing four societal impact projects showcasing the design, implementation, student engagement, and impact aspects of these projects through the framework of community-engaged learning. The authors share their combined experiences designing and implementing a variety of marketing courses with the hope of guiding and encouraging marketing instructors to educate the next generation of business leaders in a manner that will contribute to a positive societal impact. The authors conclude with a discussion of the inherent challenges of such societal impact projects and suggestions for addressing several challenges so that business schools and marketing departments can succeed in making the paradigm shift necessary to shift to a societal well-being mind-set.

THE INFLUENCE OF HIGHER EDUCATION CURRICULUM ON ENTREPRENEURSHIP EDUCATION

The contribution of entrepreneurship education to innovation, economic expansion, and job creation has received a lot of attention recently. Institutions of higher learning are essential in forming the next generation of business leaders and preparing them for the difficulties of a market that is undergoing fast change. The goal of this study article is to examine how the higher education curriculum affects entrepreneurship instruction and how it affects students' acquisition of entrepreneurial knowledge, success, and attitudes. The study uses a mixed-methodologies approach, gathering data using both qualitative and quantitative methods. To learn more about the planning and delivery of entrepreneurship curricula in higher education institutions, educators, entrepreneurship program directors, and entrepreneurs will be the subjects of interviews and focus groups during the qualitative phase. To gauge undergraduate and graduate students' impressions of the curriculum's efficacy in fostering entrepreneurial competencies, the quantitative phase incorporates a survey that is given to those students who are enrolled in entrepreneurship programs. According to a preliminary literature review, it is anticipated that several factors, such as the harmony between theory and practice, the inclusion of experiential learning opportunities, the cooperation with industry partners, and the use of real-life case studies, will determine how effective the entrepreneurship curriculum is. The study will look at how much of these elements are included in current entrepreneurship curriculum and how they affect students' entrepreneurial performance. In addition, this study will investigate the connection between successful entrepreneurship education and entrepreneurship. The influence of entrepreneurship education on students' aspirations to launch their own companies, their capacity to spot and seize chances, and their general entrepreneurial performance will be evaluated. The study will also look at whether certain curriculum elements, such networking opportunities, incubators, and mentorship programs, have a big impact on entrepreneurial outcomes. The results of this study will advance knowledge of how higher education institutions may successfully create and deliver entrepreneurship curricula to advance students' entrepreneurial abilities and mindset. The study will provide information on the crucial components and pedagogical strategies that can be incorporated into the curriculum to encourage innovation, creativity, taking risks, and recognizing opportunities. The results of this study have important ramifications. Policymakers, educators, and curriculum developers will benefit from knowing how higher education curricula affect entrepreneurship education when creating and improving entrepreneurial programs. Higher education institutions can better prepare students with the information, skills, and mindset required to succeed as entrepreneurs in today's competitive business world by identifying effective pedagogical approaches and curriculum elements.

La importancia de la educación financiera para los jóvenes emprendedores

In the current context of increasing financial complexity and entrepreneurial opportunities, financial education emerges as a crucial factor for the success and sustainability of young entrepreneurs. This article examines the relevance of financial education in the development and performance of youth-led entrepreneurship. Through an exhaustive analysis, the advantages and challenges that financial education brings to entrepreneurs in their formative and operational stages are explored. Ultimately, this article underscores the importance of financial and action-oriented education for young entrepreneurs. As young entrepreneurs face financial challenges in a dynamic world, financial education becomes a critical resource for empowering the next generation of business leaders and fostering a thriving and sustainable entrepreneurial ecosystem. This article was developed through a qualitative methodology allowing to understand the importance of finances today in young people.

Assessment Model for Programmatic Diversity, Equity, Inclusion, and Belonging Initiatives

The study of diversity, equity, inclusion, and belonging, (DEIB) processes are an ever-evolving phenomenon that will continue to influence and change the world. These processes are becoming increasingly prevalent and are present in business and educational environments driven by societal demands, environmental awareness, and funding requirements. The next generation of business leaders has serious concerns about the environment they will soon inherit. Each generation has events that define them (Civil Rights Movements, Watergate, the Recession, the Clinton Administration and Y2K, the Great Recession, Global Warming and Climate Change). Today's students want to make a positive difference on Earth, unlike any generation in the past half-century. Furthermore, higher education faculty and administrators must meet the charge of effectively preparing post-secondary graduates to function in these initiatives.

Leading entrepreneurial sustainability initiatives in emerging economies

PurposeThis conceptual paper develops a theoretical framework to provide insights with respect to enhancing focus on entrepreneurial sustainability initiatives in the context of emerging economies. The unique idiosyncrasies of the institutional environment of emerging economies are identified along the concept of scripts.Design/methodology/approachSense-making and social identity theory are utilized to draw propositions along with the dimensions of the three stages of the sense-making process: enactment, selection and retention, in order to identify factors that are likely to motivate the next generation of business leaders in emerging economies to undertake greater levels of sustainability initiatives.FindingsWhen organizations face competing demands of meeting both social and financial goals, sense-making by next-generation leaders becomes relevant. Leaders with greater entrepreneurial orientation (EO) are more likely to take actions decoupled from local isomorphic pressures, such that they turn opportunities for sustainability into novel sustainable initiatives.Originality/valueThis paper proposes a framework to provide insights and directions for future research with respect to enhancing an organizational focus on sustainability initiatives in the context of emerging economies.

A PRiME perspective on economics curriculum design

The United Nations’ Principles of Responsible Management Education initiative aspires to transform the relationship between business and society by ensuring that the next generation of business leaders are shaped by management education that conceptualises businesses as generators of sustainable value. Simplistic economic models overemphasize the role of narrow profit maximization on the part of firms in generating broader economic wellbeing. More nuanced views of the relationships between firms and the societies in which they operate, such as those that allow for market power in product and labour markets, for the presence of externalities in the production of goods and services, for a role of the state in the provision of public goods, and for the existence of market failures more generally, offer profoundly different advice to aspiring practitioners of responsible management. This article proposes an introductory economics curriculum for management students that gives due emphasis to these more nuanced perspectives and thus equips aspiring business leaders with the skills they will need to build profitable enterprises that also fulfil the objective of generating sustainable value as envisioned by the Principles of Responsible Management Education.

Molding Conscious Leaders

Innovation in education is important for developing the next generation of business leaders who also have to be innovators, creative thinkers and managers who will be more responsible towards society. The role of a company is to serve other stakeholders such as staff, clients, suppliers and society besides increasing the wealth of shareholders. In an era of continuous erosion of natural resources due to the progress of mankind, doing business following the path of conscious capitalism may create a competitive edge. The challenge is to orient the mindset of management students to mold them as conscious leaders. In 2009, Dr. Raj Sisodia and Conscious Capitalism Inc. asked Dr. Ernie Cadotte to create a new simulation to illustrate and reinforce the key tenets of the Conscious Capitalism movement. Business managers have a broad variety of conflicting issues to deal with, including product sustainability and reliability, environmental concerns, employee morale and corporate responsibility. The challenge for Cadotte and Sisodia was to develop a new pedagogy for learning to manage a full-enterprise business while addressing the conscious opportunities, situations and problems. In 2011, Cadotte created a game ( Conscious Capitalism in the Marketplace) that simulates the challenges a business manager has to face in today’s world. It is a ‘unique pedagogy’ and an innovative teaching practice that works on the ‘learning-by-doing’ method. This article will be an evidence-based case study of that simulation and its use with the next-generation managers.

The voice of the customer in the design of organized retail stores

Subject area Marketing, retail. Study level/applicability The case study is specific to the marketing demographics of Indian shoppers with respect to organized retail stores, and therefore, the inter-relationships between various design elements and the relative importance of certain parameters discussed in the text may not follow the same pattern elsewhere in the world. Case overview The case emulates the real-life situation of an organized retail store, Super Mart, to understand the inculcation of voice of the customer in the design of organized retail stores in India. It gives insights about factors which influence the shopping intent of customers while giving information about the inter-relationships among various design characteristics. It also gives an idea about inter-dependence between design characteristics and customer requirements. This is followed by certain questions, the responses to which can be interpreted from the text and the data provided therein. Expected learning outcomes The case aims to educate its audience about the following aspects of organized retail business: factors influencing offline shopping intent of customers; relative order of importance of customer requirements with respect to organized retail stores; inter-relationships between various design elements; and future trends in the organized retail space. Such a knowledge would help hone the skills of the next generation of business leaders in the retail space. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

The Role of Business Schools in Ethics Education in Iceland: The Managers’ Perspective

This article explores managers’ views on various ways in which business schools can contribute to providing solid ethics education to their students, who will ultimately become the next generation of business leaders. One thousand top level managers of Icelandic firms were approached and asked a number of questions aimed at establishing their view on the relationship between ethics education and the role of business schools in forming and developing business ethics education. Icelandic businesses were badly hurt by the 2008 crisis, and therefore Iceland provides an interesting foundation for an empirical study of this sort as the aftermath of the crisis has encouraged managers to consciously reflect on the way their business was and should be conducted. Based on the results of the survey, a few main themes have developed. First, it appears that according to practicing managers, business schools should not be held responsible for employees’ unethical behavior. Nevertheless, managers believe that business schools should assist future employees in understanding ethics by including business ethics in teaching curricula. Second, managers believe that the workplace is not where ethics are learned, while also insisting that former students should already have strong ethical standards when entering the workplace. Third, managers call for business schools not only to contribute more to influencing students’ ethical standards, but also to reshape the knowledge and capabilities of practicing managers through re-training and continuous education. Based on the results of the study, the article also offers some recommendations on how to begin reformulating the approach to business ethics education in Iceland, and perhaps elsewhere.

Cross-Disciplinary Communities or Knowledge Islands: Examining Business Disciplines

Successful knowledge transfer provides benefits to companies and society. Knowledge management across disparate business functions leads to improvement in business processes. Colleges are comprised of different departments training the next generation of business leaders who must be prepared to contribute in open, cross-functional environments. This research uses bibliometric research methods to examine the transfer of knowledge across business disciplines over four decades. Bibliometrics uses publication and citation data to document knowledge creation and transfer. The goal of this research is to identify publication and citation trends associated with knowledge creation and knowledge transfer within business disciplines. We analyzed four decades of citation patterns of the top 25 journals from established and emerging business disciplines. Initial analyses show increases in within-discipline and interdisciplinary publications and citations, demonstrating increased knowledge creation and transfer. Further analysis indicates the strength of knowledge flow among business disciplines, identifying the greatest knowledge transfer among disciplines.

Work values of the next generation of business leaders in Shanghai, Tokyo, and Seoul

Understanding the work values of the current and future workforce is essential for designing a human resource management system that attracts, motivates, and retains talent. This study provides an updated, in-depth analysis of the work values of the next generation of business leaders in the commercial centers of China, Japan, and Korea. Although previous research has often clustered these countries together and labeled them Confucian Asia, survey results from more than 700 respondents reveal striking differences in work values across countries. The Chinese are more individualistic and career oriented, whereas the Japanese are more risk averse and work oriented, and the Koreans are often somewhere in-between. We argue that the value differences can be largely explained by different economic influences in these three countries. This study enhances our understanding of crossvergence theory by distinguishing economic influence in the economic development stage, economic growth, and inward foreign direct investments. While these economic indicators might be related, their influences on work values could be conflicting. The findings suggest that that each economic indicator has a unique effect on the development of work values.

Examining the ethical predisposition of the next generation of business leaders in China and the Republic of South Africa

This study was undertaken in an effort to determine the attitudes of business students in South Africa and China toward a battery of questionable actions undertaken by anonymous business entities. In general, practices such as the outsourcing of labour and celebrity endorsements met with little opposition on the part of the students. Conversely, actions such as the shipment of unsafe products to overseas markets and a doctor smuggling a potentially beneficial (but illegal) drug across international borders in an effort to help a patient were strongly condemned. A comparison of the means of the 14 scenarios resulted in statistically significant differences for the two countries on eight of the questionable actions. In seven of the eight, the South Africans exhibited stronger opposition (or a lower level of support for) the behaviour of the organization. Furthermore, the grand means for the two countries also favored the RSA as the country with the higher ethical predisposition.

A cross cultural study of gender-role orientation and entrepreneurial self-efficacy

The study of gender differences in entrepreneurial self-efficacy to date has produced inconclusive results. Cross-cultural studies are virtually non-existent. The present study seeks to understand the complex interplay of biological sex, socialized gender-roles, and culture on entrepreneurial self-efficacy and motivation to become an entrepreneur. Findings indicate that among American business students the traditional view of “entrepreneur as male” is fading. For the next generation of business leaders and entrepreneurs, a new entrepreneur stereotype is emerging that balances stereotypical feminine and masculine characteristics. These findings were not replicated in Spain where traditional gender-role stereotypes associated with entrepreneurship persist, even among business students. Implications for entrepreneurial education are discussed as they relate to the development of skills associated with venture creation.

One hundred years of excellence in business education: What have we learned?

The quality of the next generation of business leaders will be determined by the ways in which business schools respond to a host of dramatic changes emerging in the environment of higher education. While specific initiatives will vary widely, one thing seems certain: business schools will need to be more nimble, more innovative, and more efficient than ever before. The Kelley School of Business, Indiana University has consistently been at the forefront of business education. Over the past century, the School has developed a set of capabilities that has enabled it to capitalize on the forces that have shaped the evolution of business education. In this article, we review several significant trends affecting the future of business education and share the success principles that we believe are most applicable to thriving in the new world that is on our doorstep.

Paths to power: how insiders and outsiders shaped American business leadership

Who made it to the top of Corporate America in the twentieth century? And what do their experiences mean for the next generation of business leaders? In Paths to Power, Anthony J. Mayo, Nitin Nohria, and Laura G. Singleton answer these questions. The authors explore access to business leadership opportunities - showing how a small group of possess advantages that facilitate a smooth journey to the top while a larger group of face disadvantages that make their path to leadership positions more difficult.Yet throughout the history of American business, the composition of insiders and outsiders has shifted. Examining data on leader birthplaces, religious affiliation, education, socioeconomic status, race, and gender, Paths to Power explains how the demographics of leadership have changed over the 20th century and how they're changing now. Further, they discuss the mechanisms of advancement for insiders and outsiders, and show how these mechanisms have also evolved. Though white men still hold most power positions in business, the authors assert that the gates of access aren't as static as they seem.

Crime and punishment in the marketplace

PurposeTo develop theoretical frameworks to discuss high profile scandals, where responsible accountants and other executives could have saved themselves, many investors and others severe personal and financial loss by considering the costs of improper or immoral behavior. These cases emphasize the importance of ethics driving accountants' decisions.Design/methodology/approachThe paper discusses these ethical lapses in light of applying Kohlberg's models, biblical examples from the Old and New Testaments and the Koran, and other ethical systems.FindingsThe paper shows that this concept is not new. Throughout history, people have taken actions that cost them their freedom, their money and most importantly, their good names. Upon reflection, many of these people are astounded at the seriousness of their action given what little they had to gain from continued involvement. In reinforcing lessons that should be learned from cases of business malfeasance and highlighting many well‐known accounting and other scandals, we develop recurrent themes in the nature of business scandals and show that many people are responsible for or complicit in the malfeasance. These individuals could have prevented the fraud or minimized any adverse impact if they had considered their behavior ex ante. We show that the employees portrayed demonstrated very low‐levels of ethical development and seemed to underestimate the probability of getting caught and the resulting punishment. We also elicit many reasons from several viewpoints for not becoming involved in fraud.Research limitations/implicationsIt is hoped that the next generation of business leaders and middle level staff alike will consider the results/messages of this paper when faced with ethical dilemmas.Practical implicationsThe paper concludes that the best internal control in a business structure remains the hiring and training of morally upstanding employees and managers who recognize the values of their good names before temptations arise. Incentive plans can encourage ethical behavior.Originality/valuePractitioners must consider fully the potential consequences of their actions no matter how small the perceived probability of a bad outcome.

Digital Technology in Teaching International Business

As we enter the brave new world of interactive digital technology, teachers of International Business are being confronted with the problems and opportunities associated with integrating the new medium with a subject area that is inherently geographically dispersed. This analysis extends the traditional marketing tradeoffs between richness (depth of knowledge) and reach (geographic area coverage) to the emerging technology-mediated education industry, and then specifically evaluates their effect on the teaching of International Business. We believe that interactive learning, particularly as it applies to team building and problem solving in a multicultural environment, will prove valuable as the next generation of business leaders begins to emerge from academic institutions.

Using Information: A Financial Stakeholders’ Perspective

Complete disclosure is fundamental to ensuring proper and efficient financial transactions. The call for greater levels of disclosure has been a central theme in the socially responsible investment community. However, in today's world, there are differing approaches to the issue of disclosure. On the one hand, there are calls for more disclosure in the wake of debacles such as that illustrated by Enron Corp. On the other hand, there are concerns about security and the possibility that more disclosure might compromise security. What is needed is the identification and exploration of opportunities where the socially responsible investment community collaborates with other stakeholders with the aim of leveraging environmental information to work for positive societal change. In this effort there is a need for new methodologies, new and more sophisticated models with greater predictive power, and increased emphasis on education for the next generation of business leaders.