7.3 Impact to Faculty 7.3.1 Principles of Responsible Management Education ( PRME ) & SDG 4.7 ( Quality Education )
The School of Business is a proud signatory to the Principles of Responsible Management Education ( PRME ). PRME is a United Nations Global Compact ( UNGC ) initiative and is governed alongside the UNGC , by a board of experts in academia and business . PRME works with UNGC participants to help advance the SDGs in academia , and connects responsible businesses with business schools to help recruit talent with sustainability mindsets , skills and capabilities .
The collaborative educational initiatives with industry partners under the capstone unit above benefit the School of Business and Monash University Malaysia greatly as it aligns its curriculum development and implementation with the ethos of the PRME Principles and the United Nations ’ SDGs .
It is evident that the SIP was successful in inspiring and championing responsible management education , and thought leadership through the application of six principles of PRME . It was also able to deliver SDG 4 , Target 4.7 , which states that “ By 2030 , ensure that all learners acquire knowledge and skills needed to promote sustainable development , including , among others , through education for sustainable development and sustainable lifestyles , human rights , gender equality , promotion of a culture of peace and non-violence , global citizenship and appreciation of cultural diversity and of culture ’ s contribution to sustainable development .”
7.3.2 Creating impact with Alumni
The SIP is a collaboration between Monash Business Alumni and the School of Business . In general , Alumni serve many valuable roles , such as helping to build and grow an institution ’ s brand through mentoring , internships , and career opportunities to students . In the SIP , Charis Wong and Radhika Divya Chelliah , founders of Impact Catalyst and Monash Business Alumni served as the SIP facilitators and were great role models for the students . They provided substantial practical support and were committed mentors , dedicated to assisting students at the brink of starting their careers .
In addition , 3 Industry partners under the SIP , ie . The Empowerment Group ( TEG ), Connect . ED , Revofa Collective and Women & Democracy organisations are founded by Monash Business Alumni . Having the Alumni as host and mentors further inspires students to achieve their potential . There is a common bond between the two cohorts . As such , sharing stories about their success , opportunities and challenges becomes a refreshing , intimate and motivating experience . Such a collaboration demonstrates that alumni relations are an important part of the School of Business ’ s advancement and are the School ’ s most loyal supporters .
7.3.3 Raising Quality of Degree through achieving AACSB Accreditation Standards
The School of Business is one of the few business schools in Malaysia to be accredited by Association to Advance Collegiate Schools of Business ( AACSB ). AACSB International ( AACSB ), a nonprofit global membership association for the business education industry , strives to continuously improve engagement among business , faculty , institutions , and learners so that business education is aligned with business practice .
AACSB ’ s standards contain an imperative that AACSB-accredited business schools demonstrate a positive impact on society in furtherance of its vision that “ business and business schools are a force for good , contributing to the world ’ s economy and to society , and AACSB plays a significant role in making that benefit better known to all stakeholders by serving business schools , learners , business , and society .”
Through the SIP building on collaborative efforts with industry partners to enhance employability skills and sustainability , the value and quality of the Bachelor of Business & Commerce Degree offered at the School of Business , Monash University Malaysia is greatly enhanced as such a capstone unit prepares students to thrive as adaptable and creative thinkers , connecting expert research and quality education in a rapidly changing world .
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