Message from Dean Coget
Welcome to Sonoma State’s School of Business and Economics (SBE) and New Beginnings!
What is New at SBE?
We have redesigned our Professional MBA to a Purpose-Driven MBA, to assist our students with understanding how companies can go beyond merely maximizing profits to having a positive impact on the world.
How does the Purpose-Driven MBA differ from a traditional curriculum?
The redesign of our current curriculum will have 4 new themes; Sustainability, Community Engagement, Corporate Social Responsibility, and DEI (Diversity, Equity, and Inclusion).
The Purpose-Driven MBA will feature the following courses, in addition to our traditional MBA courses:
- Introduction to Purpose-Driven Business
- Leadership and Innovation
- Sustainable Business Management
- Social Entrepreneurship in Theory and Practice
- Sustainable Operations Management
What is a Purpose-Driven Business?
A purpose-driven business engages in various business practices to ensure they have a positive impact on the world, including getting a B-corp certification, having a C-suite officer focused on purpose-driven practices (e.g. Chief Sustainability Officer), measuring their social and environmental impact, modifying their supply-chain practices to be more sustainable, aiming for zero impact, and investing a portion of their revenue in social or environmental projects.
Why the change?
Customers view purpose-driven brands as being more caring and, as a result, are more loyal to them. Cone and Porter Novelli consumer research showed that 67% of people feel companies with a purpose care more about them and their families. Seventy-nine percent said they’re more loyal to purpose brands, and 73% said they would defend them. Another 67% said they are more willing to forgive such a company for a mistake. Recent analysis of “purposeful” companies by the Corporate Board/EY Global Leadership Forecast has the most compelling financial evidence, suggesting that purposeful companies outperform the stock market by 42%. These companies often have a mission or strategy that aims to have a positive impact on the world. For instance, As a leader in the organic frozen food market, Amy’s Kitchen’s mission statement is "to make it easy and enjoyable for everyone to eat well” and Traditional Medicinals’s mission statement is “to make affordable and effective herbal medicines for family healthcare and honor traditional herbal knowledge and modern phytotherapy.”'
Why is a Purpose-Driven MBA more likely to attract more students?
Trust has become the ultimate currency, and research shows that executives lack the management and reporting information to understand and interpret the future drivers of their businesses. Now is time to meet generations where they are at, as they call for accountability and action so that they will be able to meet the future drivers of businesses. Our future generations understand the perils of climate change, structural racism, and the destruction of civil society, and they want to fix it. They want to make a difference in the world. A Purpose-Driven MBA provides students with the foundation to help make the world a better place.
Come grow your leadership skills at the SBE. Together, we will rebuild tomorrow’s businesses.
JF (Jean-Francois) Coget, Ph.D.
Dean, School of Business and Economics
Sonoma State University
