Over the last decade, the role that organisations play in contemporary society has been questioned and debated. Gone is the view, argued in 1970 by the Nobel Prize-winning economist Milton Friedman, who maintained that “there is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.”
Nowadays, organisations operate in a complex world, characterised by a multitude of internal and external drivers, interdependencies and trade-offs that require managers to find a balance between corporate strategies and social impact. As Larry Fink, CEO of BlackRock, emphasised in his 2018 annual letter to Standard & Poor’s 500 CEOs: “Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.”
To respond to this call, the specialisation on “Social Impact Management” (SIM) aims to discuss the theories and practices that support managers at aligning corporates’ objectives with social-impactful strategies. The specialisation is intrinsically cross-disciplinary (from social leadership to business ethics, from Social Value Chain to responsible finance and social impact measurement) and covers four core themes, which are developed in four modules of thirty hours. The core themes and modules are as following:
- Ethics and governance for social impact
- Managing the Social Value Chain.
- Organization and leadership for Social Impact.
- Financing, measuring and reporting for Social Impact.