College of Management Mahidol University (CMMU) has recently introduced a new Master’s Degree Program, Managing for Sustainability (MFS), a course of the future that is designed to cultivate a new generation of “Sustainability Strategy Developer” in response to the quest for sustainable development, which is increasingly trending around the world.
Entrepreneurs and executives in all business sectors in the post-Covid era must push forward with the management for sustainability. Apart from being compliant with ESG (Environmental, Social, and Governance) criteria, this follows the Sustainable Development Goals (SDGs), which is the blueprint set by United Nations Sustainable Development Cooperation as an urgent call for action by all countries, including Thailand, to demonstrate a strong unity of purpose and a combined commitment to business development while focusing on the overall well-being of the society and environmental protection.
“Today, sustainable development is an important agenda, locally and internationally, due to emerging challenges in natural resources and energy sectors as well as an epidemic and social issues all over the world. Floods, fires, landslides, economic crisis, and the complexity of healthcare problems amidst the global COVID-19 pandemic are facing us,” said Assoc. Prof. Dr. Nattavud Pimpa, an international business and diversity management scholar at the College of Management Mahidol University (CMMU), who is also the focal person for the ASEAN Center for Education and Dialogue on Sustainable Development.
He continued, “To provide an essential tool for our country to achieve sustainability, especially with the ability to move the economy forward during the pandemic and in the long term, the business and private sectors need to be actively involved. As most problems stem from the massive global consumption, substandard manufacturing, and the uncontrollable use of resources, we must perform in accordance with the United Nations Global Compact’s 17 Sustainable Development Goals, which have been agreed by all UN member states to achieve a better and more sustainable future for all by 2030. It is our moral duty to collaborate to achieve these goals. If the society fails to do so, businesses and the economy will also fail.”
“As part of the educational sector, the College of Management Mahidol University (CMMU) – Managing for Sustainability (MFS) was established to train a new generation of business leaders who excel in business development for sustainable future. The program also includes major advances in the science of development designed to equip the corporate workforce, entrepreneurs, and executives with expertise in sustainability transformations. We expect this practical knowledge can be applied to different business functions, from production, commercialization of goods, and fundraising to further business development practices that are run under the ESG criteria. The teaching and learning process is led by our qualified academic staff and external experts from diverse fields, including management, environment, innovation for business technology development, energy, social science, labor management, and finance,” said Assoc. Prof. Dr. Nattavud.
Learners will learn the fundamentals of management and sustainability. There are three main parts of the curriculum: Sustainable Leadership in Action that focuses on building essential leadership skills and greater awareness of sustainable development; Sustainability Strategy that pays attention to creating sustainability strategies in combination with using business and financial tools for sustainability; and Sustainable Logistics and Supply Chain Management for more sustainable supply chain management in various industry sectors.
According to CMMU, there are promising job opportunities for the graduates of MFS, locally and internationally, because it gives a set of practical knowledge truly relevant to the needs of today’s world and the future. Moreover, public and private organizations are looking for qualified experts and strategists to work on their sustainability initiatives, especially among currently listed companies and those seeking to go on the stock exchange. The three reasons behind this. Firstly, sustainability has become a fundamental strategy/business requirement for today’s fundraising. Secondly, sustainability is a prerequisite for going on the stock exchange and building investors’ confidence. Thirdly, sustainability acts as a business pass for entering foreign markets. Moreover, international organizations responsible for making an environmental policy, equality, and labor rights, as well as government jobs at the Ministry of Foreign Affairs, the Ministry of Natural Resources and Environment, and the Ministry of Social Development and Human Security, for instance, are more likely to recruit new staff with an advanced qualification in sustainability.
On top of that, it may be an advantage to qualify in sustainability as CMMU MFS is partnering with ASEAN Center for Sustainable Development Studies and Dialogue (ACSDSD). As a result, the MFS students will become members of this program by default. They are entitled to taking part in various activities held by ASEAN partnering countries. With the idea of inviting experts from leading organizations like the Stock Exchange of Thailand (SET) to coach students, the program is well position to take the lead in the field of sustainability.
According to SET, who recently partnered with CMMU at the SDGs Talk, the capital market is playing an important role in sustainable development. At present, there is pressure from every direction that the private sector quickly adopts management practices toward sustainable development and has a management framework under the ESG criteria. This has become increasingly trending in the global capital market and there is no exception for Thailand.
The European business sector expects ESG to grow from 15% now to around 60% in the next four years. Individual and institutional investors as well as off-market stock traders in foreign countries are more likely to invest in stocks with strong adherence to environmental, social, and corporate governance compliance. They consider this will benefit all stakeholders. Companies in the textile industry, for instance, are looking for an innovative solution to help reduce waste or manage water in a cost-effective way – to survive their business and capitalize on sustainability. Companies in the food industry are seeking a strategy to protect several factions or elements involved in the value chain (e.g. farmers) by providing them with knowledge and productivity tools for sustainable growth.
In today’s world, there is a rising demand for the workforce who fully understands the sustainable development principles to help businesses grow healthily and sustainably. Therefore, SET needs to empower companies in the capital market to grow and scale while performing in compliance with globally recognized standards.
The International Master’s Degree Program in Managing for Sustainability (MFS) at CMMU is open for enrollment from today until October 4, 2021. For more information and application, visit https://apply.cm.mahidol.ac.th/web or call 02-206-2000 or follow the CMMU Mahidol Facebook page (https://www.facebook.com/CMMUMAHIDOL).