M.B.A. Programs with a New Look

ENTREPRENEURS looking to get a business degree now have a variety of options when choosing a graduate school, reports Eye on Earth, a joint project of the Worldwatch Institute and the blue moon fund. Four U.S. institutions offer "Sustainable MBAs," or Masters of Business Administration programs that

Sustainable MBA programs, according to Miguel Esteban of Washington state's Bainbridge Graduate Institute (BGI), are built "from the ground up," with environmental considerations not just applied as a "band-aid" to traditional classes. Both BGI and the Presidio School of Management in San Francisco offer primarily online classes, with professors and students meeting in-person only once a month. Bainbridge is unique in its strong commitment to community, says president and cofounder Gifford Pinchot III. It also ranked first among 40 business programs surveyed by Net Impact, an organization that promotes using the power of business to make a positive social, environmental and economic impact. The Presidio School of Management, counts Hunter Lovins, coauthor of Natural Capitalism, among its faculty and is accredited by the Western Association of Schools and Colleges.

Green Mountain College, located in Poultney, Vermont, has an accredited business program for working professionals, according to William Prado, director of the school's MBA and Sustainable Business program. In addition to online courses, students attend a three-day residency at program start and another after finishing the first year. The accredited New College of California, on the other hand, values face-to-face interaction so much, says promotions coordinator Stacie Wickham, that its sustainable MBA program is conducted entirely in the classroom and is not available online.

Representatives of each of the four schools describe their sustainable MBA programs as practical and inclusive of all of the key components of a traditional business education. Each program incorporates a real-life project or "capstone," and focuses on benefiting the three elements of "people, planet, and profit." Critics, however, contend that these specialized programs still fall short when compared to more conventional MBA programs. "They're providing fundamentals, but they may not be as deep as your traditional M.B.A.," said Mark Milstein, business research director at the World Resources Institute (WRI) and a lecturer at Cornell University's business school.

Prospective students will find that even traditional MBA programs are becoming more environmentally responsible. According to the most recent Beyond Grey Pinstripes survey, a biennial ranking of business schools' social and environmental leadership sponsored by WRI and the Aspen Institute, 54 percent of participating institutions now require a course in ethics, corporate social responsibility, sustainability, or business and society, up from 45 percent in 2003.

Program goals, explains Prado of Green Mountain College, reflect the increased interest in all issues having to do with ethical business practices and taking responsibility. "The idea is to equip business professionals ... to come up with ways to create competitive advantages based on sustainable practices." Courses include management of people at work, stakeholder economics, performance and strategic management, leadership, values and decision making.