Sustainability & Social Impact Course Offerings and Career Paths

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Sustainability & Social Impact

Course Offerings

and Career Paths

Class of July 2015

Sustainability & Social Impact Elective Courses:

Business Sustainability(P5 May-Jun) - Mini - Asia/ Europe Campus Ethical Dilemma (P5 May-Jun) - Mini - Europe Campus

Law of Corporate Management & Finance (P5 May-Jun) – Mini - Europe Campus

Economics and Management in Developing Countries (P4 Mar-Apr) - Mini - Asia/ Europe Campus Social Entrepreneurship & Innovation (P4 Mar-Apr) - Mini - Asia/ Europe Campus

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INSEAD views the role of business in society to be an integral part of the MBA toolkit and seeks to introduce sustainability into the MBA curricula. For students who desire to make a social impact or aim to move their professional career towards sustainability, we offer a wide range of relevant courses. The electives mentioned below allow students to gain a good understanding of the basics in sustainability and social impact related topics. Students will also have the opportunity to deepen existing knowledge. For the Class of July 2015 promotion, students can tailor their programme to suit their individual needs, choosing from a wide selection of over 75 elective courses in 10 different academic areas, in P4.

During this elective period, students also have the chance to start switching campuses from Singapore to Fontainebleau, or vice-versa.

Purpose

The purpose of this document is to provide MBA students with a guide to the INSEAD and INSEAD-Wharton Alliance courses particularly relevant to sustainability and social impact. Since sustainability & social impact are by nature inter-disciplinary topics, these courses are taught by faculty across the spectrum of departments.

While all courses to some degree address topics with a sustainability and/ social impact focus, this document identifies those elective courses that are predominantly about sustainability and/ social impact. The overview table on page 5 lists these courses and the career tracks for which they are most relevant. Inevitably, such lists are subjective. You are encouraged to look at the detailed course outlines as well as the short course descriptions provided here.

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POTENTIAL CAREER PATHS

The INSEAD Social Innovation Centre wants to stress that a positive impact on society in a sustainable manner can be made in any career, and at any level. However, there are specific career paths that cover challenges of business in society by design. The definitions of these careers are constantly changing, based on new study and application by the business community.

INSEAD provides specific career paths which are broken into three key areas: 1) Corporate Social Responsibility,

2) Social Entrepreneurship and Impact and 3) Sustainability.

Corporate Social Responsibility

This career track usually refers to a specific management role within a company. CSR professionals guide the activities of a company within the local and international community, often through environmental stewardship, diversity of staff and philanthropic efforts.

Benefits to the company include improved recruitment and retention, stronger risk management, brand differentiation and a continued license to operate. This track is also increasingly becoming an option with major strategic consultancies as well as smaller, more specialized consulting firms.

Social Entrepreneurship

MBAs seeking to become social entrepreneurs often pursue traditional entrepreneurship courses, with the aim of doing business that will achieve a social and sustainable benefit to society in addition to profitability. The Social Entrepreneurship career track offers specific insights beyond the mainstream for creative entrepreneurs that look to address the society’s most pressing social problems by using innovative solutions.

Sustainability

The Sustainability career track allows students to get an understanding of the complex issues that involve sustainability from many angles: e.g. social, economic and environmental from local to global. It provides a framework for system thinking and accommodates an understanding of how business interacts with issues related to sustainability. Students learn to consider complex challenges at multiple scales, work across disciplines and develop the ability to lead multi-stakeholder projects. They will be provided with tools and knowledge to efficiently implement sustainability strategies and operations. Long-term visioning, strategic thinking, moral implications and ethical thinking, risk management are some of the key components of this career track. Job opportunities in sustainability can be found in companies, consultancies, public services and NGOs.

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OVERVIEW OF COURSES

Elective Course Corporate

Social Responsibility Social Entrepreneurship Sustainability Business Sustainability (P5 May-Jun 2015 FBL & SGP) * ** *** Ethical Dilemma (P5 May-Jun 2015 FBL) *** * **

Economics & Management in Developing Countries

(P4 Mar-Apr 2015 FBL & SGP) ** * *

Law of Corporate Management & Finance

(P5 May-Jun 2015 FBL) ** *

Social Entrepreneurship & Innovation

(P4 Mar-Apr 2015 FBL & SGP) ** *** **

Strategy & Impact

(P3 Jan-Feb 2015 SGP and P5 May-Jun 2015 FBL) *** ** ***

Strategy for the Bottom of the Pyramid

(P5 May-Jun 2015 SGP) ** ** **

* Useful for the career track ** Important for the career track *** Very important for the career track

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COURSE DESCRIPTIONS

Business Sustainability(mini - 0.5 credits) P5 - Fontainebleau/ Singapore: André Calmon

There is an increasing pressure on businesses to pay more attention to the ecological and social environments in which they operate. Communities are demanding higher standards of air, water, and soil quality. Global warming is constantly on the news. Consumers are becoming more aware and conscious of the social impact of business practices. This pressure has further been exacerbated by the financial crisis.

This course aims to provide a broad framework for analyzing and evaluating how business interacts with issues related to sustainability. (We will focus mostly, but not exclusively, on the environmental dimension of sustainability.) The primary questions we will address are:

 How can my company identify and leverage opportunities in sustainability?

 To which extent will sustainability issues affect my industry in the future?

The emergence of this new paradigm brings many challenges but also opportunities to the firm. As the focus on the public-private interface intensifies, new policies and regulations are discussed or introduced, which in some instances constitute additional sources of uncertainty. The development of green technologies is also exploding, even though their respective value remains unclear. Further, innovative firms are advancing new business models to address sustainability-issues, putting increasing pressure on their competitors.

In order to uncover and examine new opportunities, we will rely on tools such as system thinking, which will help us understand the structure and dynamics of complex systems. These approaches will allow us to explore how businesses can leverage their social and ecological environment to their advantage.

There are many reasons to care about how businesses interact with the environment – from the basic (cost reduction, compliance) to the inspiring (entrepreneurial opportunities). We will keep a business-oriented view for the most part of the class and end with a prospective outlook on long-term trends.

This course is not aimed at one specific area of industry, and it is open for anyone with an interest in social and environmental sustainability.

Who should take this course?

This course is not aimed at one specific area of industry, and it is open for anyone with an interest in social and environmental sustainability.

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Ethical Dilemma(mini - 0.5 credits) P5 Fontainebleau: Craig Smith

This course is about the ethical challenges you will face and the choices you will make in your future career. It addresses three key questions of business ethics, simply put:

1) What is the right thing to do? 2) Can we make it happen?

3) How can organizations increase the likelihood of good conduct and reduce the likelihood of misconduct?

Part I builds on the core course, Introduction to Business Ethics, by exploring ethical dilemmas and individual ethical decision-making in more depth, as well as why ethics increasingly demands our attention in business. Going beyond ethical analysis and decision-making, it also uses the Giving Voice to Values pedagogy to examine ethics implementation, the strategies and tactics by which we can increase the likelihood of realising the desired ethical outcome despite the often conflicting pressures of the organizational context. The focus in Part II shifts from the individual to the organization as we explore the drivers of ethical and unethical conduct and how individuals and organizations can respond to the ethical implications of cross-cultural differences.

There will be an optional “Ethical Dilemma Movie Night” if schedules permit.

Any student that seeks to increase awareness and understanding of the ethical dimensions of business conduct, especially for those who are looking for analytical frameworks that are helpful in identifying and resolving ethical issues in business.

Those who are interested in practice decision making about ethical issues, as well as scripting and action planning for managing them etc. in any business organization.

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Law of Corporate Management & Finance (mini - 0.5 credits) P5 Fontainebleau: Eric Orts

This course provides students with an introduction to the legal powers and obligations of corporate executives, boards of directors, shareholders, bondholders, employees, and other participants in business corporations. The main objective of the course is to give students a working knowledge of the law in situations that they are likely to confront in practice. For example, the course will address and answer the following set of questions. (1) What are the legal fiduciaries duties of corporate managers and boards of directors? How do they change in cases of potential mergers or acquisitions? (2) What is corporate governance from a legal perspective? How does the law of corporate governance differ across countries and in different types of firms? (3) How do conflicts of interest arise in business corporations? Once a conflict is recognized, how does one best manage it in order to reduce the risk of legal problems? (4) What are the current laws that prohibit insider trading, and where are the lines that divide illegal insider trading from appropriate use of information to trade securities? (5) What are the best practices in corporations to enhance legal compliance and lower legal risks? What is “corporate social responsibility” and “business sustainability” considered from a legal perspective? Other selected topics will be covered in response to students’ geographical backgrounds, disciplinary interests, and career objectives.

Students will be provided with an outline of the legal structure of business corporations relevant to business students. It is designed to provide essential legal knowledge in two respects. First, it provides an introduction to basic issues that can prevent unpleasant surprises in business if they are not identified early and handled appropriately. Second, it provides background knowledge of corporate law that is useful for strategic planning and organization.

The course is recommended for a broad range of students, including those aiming for careers as managers, consultants, and financial investors. Entrepreneurs and future entrepreneurs will also find this course relevant and useful.

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Economics and Management in Developing Countries (mini - 0.5 credits) P5 - Fontainebleau: Loic Sadoulet

P5 - Singapore: Daniel Traca

“Economics and Management in Developing Countries” is intended for people interested in countries often politically-correctly referred to as "developing countries" or "emerging markets" as a forum to discuss and gather a better understanding of their current economic reality, and the current and future prospects of these economies. The course attempts to tackle current issues: the current debate on the failure of aid, the telecom revolution in the creation of new markets and services, the myths and the magic of microfinance, the role of Foreign Direct Investment, the role of the new emerging economic powers (China, India, Brazil,…), the prospects for Africa, interesting attempts of multinationals to innovate in emerging markets... and their varying success record, strategies to deal with corruption.

Who should take this course?

Students expecting to work in developing countries, who seek a deeper understanding of the current economic reality and future prospects of these countries. To be an effective manager in emerging country markets, it is essential to understand the opportunities these countries offer and the constraints that managers and businesses face in such countries. Students interested in Corporate Social Responsibility as it applies to emerging markets will find this course interesting. This course is very useful for individuals who are aiming to pursue careers in:

• multinationals with a strong presence in developing countries • multilateral institutions such as the IFC or World Bank.

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Social Entrepreneurship & Innovation (mini - 0.5 credits) P4 Fontainebleau: Filipe Santos

P4 Singapore: Stephen Mezias

This course is aimed at MBAs students who want to understand the key trends and innovations shaping the field of social entrepreneurship and impact investing worldwide. We will focus on topics such as business model innovation, managing organizations simultaneously for profit and for impact, the merits of social versus commercial markets and the emerging area of impact investing.

The course provides a toolkit for students to understand social entrepreneurship and allow them to discuss and develop their own ideas for value creation in society, as well as improving their positioning and competencies for a rewarding career in social impact. During the sessions, we will discuss how social entrepreneurship can contribute to your personal search for a more meaningful career and a positive impact in the world. Given the engagement required to follow this course, auditors are not allowed. Social entrepreneurs are becoming a driving force for societal change and business innovation, leading the growing field of social entrepreneurship. Social entrepreneurship is an approach to solving problems in society that is focused on value creation instead of value capture. It can occur in different organizational contexts and touches upon different sectors. The course will focus on advanced topics in social entrepreneurship.

This course is recommended to students who want to understand the key trends and innovations shaping the field of social entrepreneurship and impact investing worldwide.

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Strategy & Impact (mini - 0.5 credits) P3 and P5 Fontainebleau: Jasjit Singh

This course concerns how business can be a force for good. We will focus primarily on companies proactively managing their social impact as an integral part of doing business. We will also discuss how social enterprises and impact investors are increasingly using business tools to solve societal problems as well. The course will rely on a non-dogmatic philosophy that different organizational forms can all be complementary means for development, as long as each organization is clear on its strategy for creating unique societal value over and above existing alternatives.

Stakeholder pressure is making societal impact an important concern for most companies. There remain ideological differences in how companies can prioritize societal goals in their commercial pursuits. Nevertheless, even profit-seeking companies are seeing a need to invest in long-term societal value creation to ensure sustained competitive advantage and even survival. We will in fact make a case that societal goals and commercial objectives can often be made to align by creatively looking for win-win opportunities. We will discuss how forward-looking companies are already innovating for creating “shared value” rather than only considering the short-term value they capture for themselves. Societal concerns are therefore getting integrated into overall business strategy rather than comprising an agenda to just be delegated to a standalone “Corporate Social Responsibility” (CSR) department.

A particular focus of the course will be how innovative business models are allowing new ways of reaching underserved populations around the globe (the so-called “base of the pyramid”). Doing this right requires moving beyond a mind-set of just selling watered-down versions of global products and services. The focus has to be on understanding the unique needs of these populations, getting them involved as producers, designing the right value propositions, having a long-term solutions approach, iteratively refining the model through experimentation, and patiently creating the needed ecosystems.

This course targets students looking to employ business tools to make a positive difference. Given the increasing salience of social impact concerns in all domains, the course should have a broad appeal. It should certainly interest individuals considering a career in strategy, consulting, entrepreneurship, impact investing, social entrepreneurship, non-profit organization or corporate social responsibility.

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Strategy for the Bottom of the Pyramid (full - 1 credit) P5 Singapore: Phil Parker

All industries have a “bottom of the pyramid.” For some industries, this segment may be the world poorest citizens who are typically engaged in subsistence agriculture, while in others it may be those which are too remote to access traditional channels of distribution. This course considers a broad definition of the pyramid, but will spend a good deal of time on the segment typically characterized by a low willingness to pay. For this segment, strategies that reduce production and delivery costs will often be required. In addition, some firms targeting this segment have discovered that new products and services fight for a relatively small wallet. Strategies that seek to increase wallet size often are required to make this segment viable. Strategies addressing wallet sizes and long-run sustainability are discussed. Applications are explored across “for profit” and “not for profit” organizations.

Participants anticipating a career in emerging markets, NGO’s, or agencies reaching the bottom of the pyramid are encouraged to enroll. The course will focus on this subject as if it were a vocation, not a theoretical topic. It will equip you with tools that can be applied throughout your career.

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RESOURCES

INSEAD Social Innovation Centre (ISIC)

Founded in 2007, ISIC brings together the academic expertise of a diverse group of research teams on Corporate Social Responsibility & Ethics, Humanitarian Research, Social Entrepreneurship and Sustainability.

The INSEAD Social Innovation Centre is an inclusive platform for cross-disciplinary research, education, projects and engagement about the introduction and development of new business models and market-based mechanisms that deliver sustainable economic, environmental and social prosperity. We look at social innovation as a way of doing business to generate sustainable value. We also see it as an opportunity to apply business concepts and new business models in for-profit, non-profit and hybrid organizations to maximize their impact.

Research and Education advances the theory and practice of social innovation, collaborating with faculty at INSEAD and other academic institutions and with corporations to engage in high-impact, cross-functional projects and partnerships. Providing them with the tools needed to lead sustainable businesses that make a positive impact on society.

Our commitment is to foster collaboration and dialogue among faculty, staff, students, alumni, executives, companies, NGOs and other academic institutions.

Students interested in the relationship between business and society and who want to get actively involved in this field on campus and beyond, are invited to join the club activities.

At Wharton, MBA social impact clubs and groups give students the opportunity to gain skills and experience to make a difference in the world. MBA students are allowed to explore the field of social entrepreneurship, business ethics and increase their awareness of global environmental and sustainability related issues. For further information, please click here

INSEAD MBA students and alumni are extremely active in club activities.

The INSEAD Social Innovation Centre collaborates closely with the following clubs: INDEVOR, the INSEAD organization for social impact and an affiliate chapter of

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INDEVOR/Net Impact

Founded in 1993, INDEVOR, an affiliate chapter of Net Impact, is the INSEAD social impact organization for students and alumni. It serves as a forum to examine the role of business in society. The main areas of concern are:

 International development

 Corporate social responsibility

 Environmental sustainability

 Non-profit and non-governmental organizations (NGO)

 Social entrepreneurship

The club maintains strong links with the INDEVOR alumni and other key stakeholders to continue building a permanent INDEVOR infrastructure. For further information about INDEVOR, please consult the INDEVOR website: http://mba-clubs.insead.edu/indevor/. Energy Club

Founded in 2006, the INSEAD Energy Club aims to be a forum of discussion and networking for energy and environment related issues for the greater INSEAD community. Since its launch in January 2006, the Club has met with considerable interest amongst MBA participants across both Fontainebleau and Singapore campuses, reflecting the growing awareness of energy and environmental issues generally.

The INSEAD Energy Club aims to leverage its alumni network and INSEAD's existing corporate relationships to provide ongoing careers services and to support future entrepreneurs in nascent industries such as alternative energy technologies and energy trading.

The Energy Club also promotes wider awareness on campus and beyond of the issues faced by the energy economy and its political, social and environmental impact - including that of global warming and climate change - within the context of balanced debate on energy needs and usage. Here, energy efficiency is also key. Visit the club website for more events and activities: http://mba-clubs.insead.edu/energy/

INSEAD Environment & Business Club

Founded in 2013, the mission of INSEAD's Environment & Business Club is to raise future business leader's awareness to today's environmental challenges, and to inspire them to develop sustainable solutions on a corporate level, while providing them with relevant career opportunities. Visit the club website for more events and activities:

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Net Impact currently has a global network of over 100 chapters (both professional and business school) and approx. 11,000 members.

Key benefits of membership include:

 Develop your career by posting your resume on the Net Impact Job Board, accessing job postings for social impact positions, and interviewing with recruiters at top companies and organizations

 Broaden your education through Net Impact's online Learning Center and their Issues in Depth call series featuring industry leaders

 Build your resume by taking leadership positions in programs such as Service Corps, Board Fellows, Campus Greening, Curriculum Change and more

 Expand your network through virtual networking, conference calls, the annual Net Impact Conference, and chapter events in cities and graduate schools around the world

To learn more or sign up as a member, visit: www.netimpact.org. Interested students should also look at:

The INSEAD Social Innovation Centre (ISIC), please click here

For further information on the Wharton-INSEAD Alliance MBA Exchange, please click here

The Wharton School of the University of Pennsylvania Initiative for Global Environmental Leadership (IGEL), please click here

The Wharton School of the University of Pennsylvania Social Impact Initiative (SII), please click here

The Wharton School of the University of Pennsylvania Zicklin Center for Business Ethics Research, please click here

Do you have questions? Please feel free to get in touch with: Miranda Helmes, Communications

INSEAD Social Innovation Centre (ISIC) INSEAD Europe Campus

Boulevard de Constance

77305 Fontainebleau Cedex, France miranda.helmes@insead.edu

Sustainability & Social Impact Course Offerings and Career Paths