2. Business and Organization for Sustainable Societies

If the popular uprisings in the Arab region have taught us one thing, it is that in an environment that focuses solely on maximizing shareholders’ value we should not expect individuals to care about sustainability, poverty, corruption, equality, and other socioeconomic challenges the region is facing. To foster a sustainable and value-oriented society, management education must work on developing responsible business leaders, shifting the culture from one of pure market capitalism, profit maximization, and perpetual growth to one that upholds and values the role of business in society, sustainable development, and stakeholder interests. The impact of business schools instilling these values in its students will be seen when future leaders make ethical decisions that take into account multiple factors aside from profit, which will in turn benefit the community as a whole. This chapter illustrates some existing practices of responsible business practices in management education and recommends new sustainable practices for a better future.