In this enlightening conversation with TheCSRUniverse, Ms. Radhika Srivastava, Executive Director of the Fortune Institute of International Business (FIIB), shares her profound insights into how the institution is paving the way for sustainable development and societal transformation through education. With a keen focus on integrating Corporate Social Responsibility (CSR) into the core fabric of their operations, FIIB is championing the cause of empowering change and transforming societies. At the heart of their mission lies the Social Internship Program (SIP), designed to deepen students' understanding of societal challenges and equip them with the necessary tools to devise and implement effective solutions. As we delve into this comprehensive interview, Ms. Srivastava elucidates FIIB's strategic approach to nurturing responsible leaders and managers, and showcasing the impactful initiatives undertaken by the institution across teaching, operational activities, and community engagement.
Interview with Ms. Radhika Srivastava, Executive Director of the Fortune Institute of International Business (FIIB)
Q: The 13th Responsibility Summit of FIIB emphasized the theme "Nudge Forward: Empowering Change, Transforming Societies." Could you provide insights into how this theme was chosen and its significance in the context of sustainable development?
A: The theme "Nudge Forward: Empowering Change, Transforming Societies" was chosen for the 13th Responsibility Summit of FIIB to underscore the significance of subtle yet impactful actions in driving societal progress. It emphasizes the notion that even small interventions can lead to significant momentum towards positive change.
The reason behind choosing the theme is its advocacy for the power of nudges, which are gentle prompts or encouragements, to guide individuals and communities towards better choices and behaviors. Furthermore, "Nudge Forward" highlights the importance of collective responsibility in shaping societies. It underscores the need for collaboration, empathy, and a shared vision for a better future. Through education, communication, and targeted interventions, communities can be empowered to embrace change and adapt to evolving challenges.
In essence, "Nudge Forward" serves as a call to action, reminding us that progress is not solely the result of grand gestures but also the accumulation of countless small nudges in the right direction. By harnessing the power of these nudges, FIIB through its 13th Responsibility Summit spread the message of collectively empowering change and transforming societies for the better.
Q: The Responsibility Report 2023-2024 unveiled at the summit highlights key areas of responsible work at FIIB, including teaching, operating activities, and community engagement. Can you elaborate on some notable initiatives and achievements in each of these areas?
A: As an impact-driven B-school, FIIB is a close-knit community of students, faculty, staff, alumni, and corporate partners, committed to advancing the practice of management and developing leaders-managers of business and social relevance. To accomplish our mission to deliver a holistic, and future-focused education, we rely heavily on our three pillars of excellence, which are - teaching & research, operational excellence and community engagement.
The Responsibility Report 2023-2024 unveiled by FIIB at the summit underscores the institution's dedication to fostering responsible management practices across its operations. Within the realm of teaching, FIIB has made significant strides by integrating social consciousness concepts into 60% of its courses, demonstrating a commitment to instilling ethical and sustainable principles in its curriculum. Moreover, the increased number of dialogues, from 32 to 65, reflects a proactive effort to stimulate discussions surrounding responsible business practices within the academic community. In terms of operational excellence, FIIB has bolstered its organizational practices, although the specific increase in activities is not provided, indicating a concerted focus on internal processes aligned with responsible and sustainable principles. The report also highlights FIIB's robust engagement with the community, evidenced by partnerships with 25 NGOs for student projects and the adoption of 5 villages under the Unnat Bharat Abhiyan initiative. Furthermore, the significant expansion in activities supporting UN Sustainable Development Goals, from 150 to 248 across three countries, underscores FIIB's global commitment to addressing pressing societal challenges such as poverty, gender equality, and environmental sustainability. Overall, FIIB's Responsibility Report exemplifies its holistic approach to education and its dedication to nurturing socially conscious leaders capable of driving positive change in both business and society.
Q: How does FIIB collaborate with organizations like the U.N. Global Compact Network India to advance sustainability goals?
A: FIIB has collaborated with organizations like the U.N. Global Compact Network India to advance sustainability goals through active participation and partnership. As the Academic Outreach Partner for the 18th National Convention hosted by the U.N. Global Compact Network India, FIIB demonstrated its dedication to promoting sustainable development through education and action. The convention's theme, "Advancing Sustainable India: Driving Change with Forward Faster 2030," aligned closely with FIIB's commitment to sustainability.
Through such collaborations, FIIB actively supports and promotes sustainable practices and initiatives on a broader scale. As the Academic Outreach Partner, FIIB looks forward to contributing to the convention and fostering partnerships that drive positive change and progress towards the Sustainable Development Goals.
Q: As a core course of FIIB, SIP (Social Internship Program) provides students with fieldwork experience in the social sector. Can you elaborate on a couple of SIPs where you successfully collaborated with Social Sector Organizations (SSOs). Also share key learning for students from these projects.
A: The FIIB Social Internship Program (SIP) is a pivotal component of the experiential learning approach at FIIB, facilitated through a comprehensive series of workshops and panel discussions. Since its inception in 2017, SIP has been dedicated to merging academic learning with professional development, with a strong focus on fostering social leadership and promoting sustainable development. As the program progressed towards 2024, it maintained a curriculum that deeply immerses students in projects aligned with the United Nations Sustainable Development Goals (UN SDGs), aimed at nurturing social responsibility, bolstering collaborative skills, and cultivating global citizenship. This commitment underscores the program's dedication to shaping well-rounded leaders ready to address the complexities of a sustainable future.
The FIIB Social Internship Program (SIP) 2024 has effectively established partnerships with 24 social sector organizations, Friends n Smiles, AICAPD, Udayan Care, Lakshyam NGO, and Sakshi NGO to name a few, integrating longstanding relationships and new collaborations to provide a comprehensive internship experience for a cohort of 250 students. This engagement with Social Sector Organizations (SSOs) is fundamental to SIP, offering students a broad platform for engaging in significant social impact endeavors.
In their preparatory phase, students are guided to participate in a diverse array of projects, categorized into research-based, consulting-based, and funding-based initiatives. This orientation enables students to conduct in-depth analyses of social issues, create strategic frameworks for community support, and spearhead innovative fundraising campaigns. Such a comprehensive approach not only deepens students' insight into societal challenges but also equips them with the tools to craft and execute effective solutions, showcasing SIP's commitment to nurturing well-rounded leaders who are socially responsible.
Q: A major component of FIIB's mission is to conduct sustainability-driven research. Please share insights into a few papers that were published over the last couple of years.
A: FIIB, through its strategic focus, has been driven to justify and explicitly communicate its value to society through its various actions. We are conscious of our contribution as a Business School to the greater good through its research and therefore focused on educating and promoting research that is purpose-driven and focused beyond disciplinary silos.
FIIB has been actively engaged in sustainability-driven research over the past couple of years, publishing 17+ faculty research papers across various domains. One such study focuses on the nexus between environmental sustainability and innovation within Small and Medium Enterprises (SMEs), investigating how these enterprises can integrate sustainable practices while fostering innovation despite resource constraints and market pressures. Additionally, the institution has explored the relationship between Corporate Social Responsibility (CSR) initiatives and organizational behavior from a cross-cultural perspective, shedding light on how CSR practices influence employee motivation, job satisfaction, and organizational commitment across different cultural contexts.
Another significant area of research has been in Innovation Management and Technology Adoption, particularly in emerging markets. Through case studies, FIIB has examined the challenges and opportunities associated with adopting innovative technologies in these contexts, providing insights into regulatory frameworks, market dynamics, and organizational capabilities. Furthermore, FIIB has delved into the intersection of gender empowerment and entrepreneurship, conducting a comparative study to understand the role of gender empowerment in fostering entrepreneurship across various socio-economic backgrounds. This research has analyzed factors such as access to education, financial resources, and social support, offering valuable insights for promoting gender-inclusive entrepreneurship and informing policy interventions.
Furthermore, FIIB's emphasis on doctoral research in areas such as risk management, sustainable business practices, and diversity management underscores its dedication to nurturing future scholars and leaders in responsibility management, contributing to the greater good through impactful research and education practices.
Q: FIIB has a strategic partnership with IDEA, the Inclusive Divyangjan Entrepreneur Association. Please tell us how this collaboration works?
A: The strategic partnership between the Fortune Institute of International Business (FIIB) and the Inclusive Divyangjan Entrepreneur Association (IDEA) is a significant initiative aimed at fostering inclusivity and empowerment in entrepreneurship. This collaboration, formalized through a Memorandum of Understanding (MOU), represents a pivotal moment in promoting inclusive entrepreneurship.
By leveraging IDEA's expertise in inclusive entrepreneurship and FIIB's educational prowess, the partnership aims to cultivate a new generation of diverse and resilient entrepreneurs. Through joint initiatives and programs, the collaboration seeks to:
- Provide specialized training and support to aspiring entrepreneurs from diverse backgrounds, including persons with disabilities (Divyangjan), enabling them to develop the necessary skills and knowledge to launch and grow successful businesses.
- Foster an inclusive ecosystem that promotes equal opportunities for all entrepreneurs, regardless of their background, by offering mentorship, networking opportunities, and access to resources and funding.
- Drive innovation and social impact by supporting entrepreneurial ventures that address pressing societal challenges and contribute to the socio-economic development of communities.
Overall, the partnership between FIIB and IDEA reflects a shared commitment to promoting inclusivity, diversity, and entrepreneurship. By working together, both organizations aim to create a more inclusive and equitable entrepreneurial landscape, where all individuals have the opportunity to thrive and contribute to positive societal change.
Q: FIIB incorporates sustainability concepts into its curriculum and courses. How the curriculum is designed and how different is the pedagogy for such courses?
A: FIIB's approach to incorporating sustainability concepts into its curriculum and courses is designed to transform teaching by embedding ethics, sustainability, and social consciousness into both the curriculum and pedagogy. The curriculum is meticulously designed to integrate responsible management education throughout FIIB's Postgraduate Programmes. These programs are innovative, experiential, and globally recognized, aiming to prepare the next generation of leader-managers for success in a rapidly evolving business landscape. Key features of FIIB's sustainability-focused curriculum and pedagogy include:
- Core PGDM Course Specializations: FIIB offers core PGDM courses with specializations in five areas, providing students with a comprehensive understanding of management principles while addressing current trends and transformations, such as entrepreneurship and social responsibility.
- Ethical Decision Making: FIIB embeds ethical decision-making into its curriculum through real-world case studies and interactive discussions. Students engage in simulations to analyze ethical issues, evaluate consequences, and make principled decisions, ensuring they graduate with a strong ethical foundation for leadership roles.
- Social Consciousness: The curriculum emphasizes corporate social responsibility, sustainability, and community engagement. Through experiential learning projects and partnerships with NGOs, students develop a deeper understanding of societal issues and learn how to leverage business for positive social impact.
- Responsible Thinking and Sustainability: FIIB enables students to explore sustainable business practices, environmental stewardship, and social responsibility through courses, projects, and guest lectures. This equips them with the skills to address global challenges and drive positive change in organizations and communities.
Overall, FIIB's curriculum and pedagogy prioritize the integration of sustainability concepts by fostering ethical decision-making, promoting social consciousness, and equipping students with the knowledge and skills to lead responsibly in a rapidly changing world.
Q: FIIB has undertaken various sustainability initiatives, including the development of a sustainability dashboard. What was the thought process behind collaborating with a foreign university for this?
A: Last year, we reached a significant milestone by unveiling our first version of the SDG Dashboard in collaboration with the Haub School of Business. A total of 150 activities were reported across 11 SDGs, with coverage extending to three countries. Alongside thirty other universities spanning fourteen countries, including Brazil, Germany, Finland, and the United States, the FIIB utilized this bespoke dashboard to report its sustainable development practices and monitor the transformation of business education. FIIB proudly stood as the 4th Indian B-School to implement its SDG Dashboard, contributing to the network of 31 Global SDG Dashboards.
This year, we’re thrilled to unveil an enhanced version of our SDG Dashboard, enriched with the inclusion of 197 new activities with coverage extending to six countries. This upgraded iteration underscores our institute’s unwavering dedication to monitoring and magnifying our influence on the Sustainable Development Goals. Notably, our contributions have surged, with the addition of 59 new research activities, 3 new teaching initiatives, 12 new partnerships, 33 new dialogues, and 7 new organizational practices.
The collaboration with the Haub School of Business for the development of the sustainability dashboard was motivated by a strategic decision to leverage global expertise and resources. By partnering with a foreign university, FIIB aimed to gain insights and perspectives from diverse cultural and academic backgrounds, enriching the dashboard's development process with international best practices. This collaboration facilitated knowledge-sharing and network expansion, connecting FIIB with like-minded institutions worldwide committed to sustainable development. Additionally, collaborating with the Haub School of Business allowed FIIB to benchmark its sustainability practices against international peers, identify areas for improvement, and enhance its contribution to the Sustainable Development Goals (SDGs).
Q: FIIB has partnered with Betterly to address mental health and well-being among students, faculty, and staff. How does prioritizing mental health contribute to the overall sustainability and success of the FIIB community?
A: Prioritizing mental health within the FIIB community through initiatives like partnering with Betterly contributes significantly to the overall sustainability and success of the institution. Mental health and well-being are integral components of a healthy and inclusive culture, essential for fostering an environment where students, faculty, and staff can thrive personally and academically.
By addressing mental health concerns and promoting well-being, FIIB demonstrates its commitment to the holistic development of its community members. A focus on mental health not only enhances individual resilience and productivity but also fosters a supportive and caring community ethos. This, in turn, contributes to higher levels of engagement, satisfaction, and retention among students, faculty, and staff.
Furthermore, prioritizing mental health aligns with broader sustainability goals by promoting long-term resilience and vitality within the FIIB community. A mentally healthy community is better equipped to navigate challenges, adapt to change, and sustainably contribute to the institution's mission and objectives over time. Ultimately, achieving recognition such as the Gold Band in the Mental Health and Wellbeing Rankings reflects FIIB's dedication to promoting wellness and nurturing a supportive environment. By prioritizing mental health, FIIB invests in the sustainability and success of its community, laying the foundation for continued growth and excellence in the years to come.
Q: Companies today are under huge pressure to adopt sustainable practices. How do you see the role of academia in promoting sustainability thoughts among the corporates?
A: Academia plays a crucial role in promoting sustainability thoughts among corporates by serving as a source of knowledge, innovation, and advocacy. Here's how academia contributes to fostering sustainability practices within companies:
- Research and Education: Academic institutions conduct research on sustainability issues, providing evidence-based insights into the environmental, social, and economic impacts of various practices. Through sustainability-focused courses and programs, academia educates current and future business leaders about the importance of sustainability and equips them with the knowledge and skills to integrate sustainable practices into their operations.
- Partnerships and Collaboration: Academia collaborates with corporate partners to develop sustainable solutions and initiatives. By working together on research projects, consulting engagements, and industry partnerships, academia can help companies identify opportunities for improvement and implement sustainable practices effectively.
- Innovation and Technology: Academic institutions drive innovation in sustainability by developing new technologies, processes, and products that reduce environmental impact and enhance social responsibility. By sharing these innovations with corporates, academia accelerates the adoption of sustainable practices and promotes continuous improvement in sustainability performance.
- Policy Advocacy: Academia engages in policy advocacy to promote sustainability at the corporate and governmental levels. Through research-based advocacy initiatives, academic institutions influence public policy decisions, regulations, and standards, encouraging companies to adopt more sustainable practices and align with global sustainability goals.
- Knowledge Sharing and Thought Leadership: Academic conferences, seminars, and publications serve as platforms for knowledge sharing and thought leadership in sustainability. By disseminating research findings, best practices, and case studies, academia inspires corporate leaders to embrace sustainability as a strategic imperative and encourages the exchange of ideas and experiences among peers.
Through these efforts, academia contributes to building a more sustainable and resilient future for businesses and society as a whole.
Q: What are FIIB's future plans and aspirations in terms of sustainability initiatives and promoting responsible leadership among its students and faculty?
A: FIIB's future plans and aspirations in terms of sustainability initiatives and promoting responsible leadership among its students and faculty are deeply aligned with the United Nations Sustainable Development Goals (UN SDGs) 2030 agenda. The institution envisions expanding and enhancing its sustainability initiatives, integrating responsible leadership principles into its academic programs, and fostering collaboration and partnership building with stakeholders to maximize impact. Through strategic alliances and transparent measurement and reporting mechanisms, FIIB aims to contribute meaningfully to the achievement of the UN SDGs. This includes actively engaging students and faculty in sustainability projects, promoting interdisciplinary collaboration, and cultivating a culture of ethical decision-making and social responsibility. By aligning its efforts with the UN SDGs, FIIB is committed to preparing future leaders who can address the world's most pressing challenges with integrity, compassion, and innovation.
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