Speculating about the future in our private thoughts comes without much inherent risk. However, speculating publicly has time and again shown the folly of humans trying to do something for which they have limited aptitude, namely, predicting the future.
Businesses do try to predict the future, but there are more acceptable terms used such as predictive models, trending data, and decision analytics. All approaches use data to make judgments about the future. Data helps decision makers in predicting future patterns but we are left with the realization that the future is elusive.
In the College of Business we are continually looking at future trends to recognize what is important in our curriculum. A sampling of our current courses includes: Financial Futures, Options, and Swaps; Leadership: Teams and Team Development; IMC Creative Strategy and Design; and Electronic Business Management. Some of you may remember a time when swaps meant flea markets and team development meant the minor leagues. The business school curriculum is a reflection of the world we live in. A solid yet evolving framework of knowledge, skills, and learned behavior will prepare our students to be successful business leaders.
An emerging initiative among business leaders, which is confirmed by data, is that of sustainable business practices. The basic concept of sustainability is to meet current needs while not compromising the ability of future generations to meet their needs. Many ideas within the general framework of sustainability are not new: reducing costs, increasing efficiencies, enhancing safety, embracing new technology, and identifying new and profitable markets. Yet evolving sustainability initiatives are taking on added importance for employers as they recognize growing customer and employee expectations for companies to embrace sustainability practices.
As we look to the future sustainability will become an increasingly important part of our curriculum and our intellectual contributions. We are a top ranked business school and our faculty, our staff, our graduates, and our programs are recognized for the excellence we embrace. We live by our Standards of Professional Behavior and Ethical Conduct. The College of Business also embraces Principles of Responsible Management Education (PRME). Among these principles we strive to educate students about the social, economic, and environmental dimensions of sustainability that will add value to organizations. Now for a prediction.the most successful companies in the future will be recognized leaders in sustainability and will drive innovation, economic growth, and wealth creation in the U.S. and abroad.
Dr. Scott Johnson
Dean, College of Business
