Environmental challenges overtakes technological advancement as the biggest challenge leaders will face, shows a new CEMS study. 'I am not surprised,' says Associate Professor Tina Saebi.
A CEMS survey conducted in September this year shows that 43 percent of CEMS alumni believe that environmental challenges will be among the biggest challenges they will face as a business leader in the 21st century. Technological/digital advancement is behind in second (27 percent).
Both are considered as greater challenges to global business than shifts in world economic and political power centers, political instability and global pandemics.
What is the biggest challenge you think you will face as a business leader in the 21st century? Name your top three:
‘I am not surprised by the results. Sustainability is the key challenge of our time. However, while many business professionals might agree on the relevance of environmental sustainability, corporations often lack the foresight, skills and capabilities to fundamentally transform their corporations towards a more sustainable business model. This is often due to lack of resources, lack of top management commitment or conflicting goals within the organisation,' says Associate Professor Tina Saebi.
Saebi is an expert in business model innovation, social entrepreneurship and global strategy. She teaches the CEMS course “Global Strategy” at NHH.
'A closer collaboration between industry and academia can propel knowledge insights to help companies design and implement truly sustainable business models that can serve as a source for competitive advantage,' she says.
In 2018, 25 percent of the CEMS alumni rated environmental challenges among the top challenges business leaders are facing, behind technology with 28 percent.
Professor Jan I. Haaland and CEMS Academic Director at NHH, emphasises that CEMS, as a global alliance in management education, is well suited for preparing students and future leaders to tackle challenges that need global solutions.
‘The vision of CEMS is to prepare leaders contributing to a more open, sustainable and inclusive world. To live up to this, the CEMS MIM programme includes many elements that prepare the students for key global challenges, not least the environmental and climate challenges that all businesses face,’ he says, and adds:
‘This is included in course work, in skill seminars and in mandatory global citizenship seminars, as well as in business projects for corporate and social partners.’
What is the biggest challenge you think you will face as a business leader in the 21st century? Name your top three:
The survey classifies Norwegians as those who identify themselves as Norwegians, or those who have NHH as their home school.
CEMS carried out the survey among 4,206 of their alumni based in 75 countries around the world, the majority of whom are in professional roles, with many in senior management positions.
The survey shows that the Norwegian respondents (179) are a bit more concerned than the global average. 48 per cent of the Norwegians rated that environmental challenges will be among the biggest challenges they will face in the 21st century, with technology in second (29 per cent).
Three years ago, as same as with the global average, the Norwegian professionals rated technology to be among the biggest challenges. In 2018, 29 per cent of the Norwegians rated technology and 27 per cent rated environmental challenges.
CEMS is a global alliance of leading business schools, multinational companies and non-profits organisations that together offer the CEMS Master in International Management (CEMS MIM).
The CEMS MIM is a one-year, pre-experience programme that offers students the opportunity to be educated in a truly multicultural classroom. NHH is the only school in Norway that is a CEMS member.
