The world’s wealthiest 1% now control more resources than the remaining 99% combined. Poverty levels, after decades of decline, are once again on the rise.
Environmental devastation continues unchecked, with wildlife populations plummeting by nearly three-quarters in just 50 years. These staggering realities aren’t just societal issues—they are also the consequences of corporate decisions, unchecked capitalism, and leadership that has too often favoured profit over responsibility.
In his powerful inaugural lecture, Professor Simon Hayward of Alliance Manchester Business School tackled this uncomfortable truth head-on, calling on today’s leaders to reshape capitalism itself. It’s time, he argued, for a business renaissance—a shift from profit-first, growth-at-any-cost models to those that are purpose-driven, socially conscious, and globally accountable.
Here’s how, and why, businesses must act.
Beyond Profit: The call for responsible leadership in business
Hayward’s lecture reveals an undeniable truth: global corporations wield more economic power than most countries, effectively shaping the policies, markets, and even moral fabric of society. With this power comes a choice—continue on a path that prioritises short-term gains, or redefine success in terms of societal impact, environmental preservation, long-term prosperity, and ethical practice.
This need for responsible leadership is becoming urgent. From extractive practices in developing regions to supply chains that ignore human rights, corporate operations leave lasting marks on communities. And as companies continue to pull profits from the world’s poorest countries, the social contract between business and society becomes more tenuous. The role of leaders, Hayward argues, isn’t just to drive returns; it’s to protect, restore, and support the global society from which they benefit.
Beyond the Balance Sheet: Addressing inequality and environmental responsibility
The rising inequality gap has, in part, been exacerbated by an era of deregulated, profit-centred capitalism. Popularised in the 1980s, this ideology focused on reducing the role of government, leaving corporations free to grow, often at the expense of community well-being. The aftermath is clear—unstable labour markets, social fragmentation, and environmental destruction. Corporations and business schools alike have played a role in building this model, but as Hayward points out, they also have the resources, reach, and expertise to help fix it.
At AMBS, we understand the business implications of ignoring these challenges. Our research shows that socially and environmentally conscious businesses not only benefit society—they perform better financially.
Companies with strong social responsibility profiles attract loyal customers, enhance employee retention, and reduce regulatory risks. Furthermore, sustainable practices improve efficiency and innovation. Through strategies that address inequality and environmental impact, companies can future-proof themselves while building resilience in an uncertain world.
Rebalancing Capitalism: The shift towards a purpose-driven economy
As leaders grapple with these systemic challenges, they must also consider the UN’s Sustainable Development Goals (SDGs), a framework adopted globally to achieve a healthier, fairer world by 2030. Hayward advocates that businesses integrate these goals at the core of their operations, treating climate action, social justice, and responsible production as key drivers—not afterthoughts. AMBS, for example, actively champions these goals by embedding them into programme curricula, partnerships, and real-world initiatives.
Leading the conversation on responsible business
As one of the UK’s top business schools, Alliance Manchester Business School leads the way in responsible leadership, sustainable business, and corporate ethics. With a School ranked 3rd in the UK for research power, we’re shaping the dialogue on pressing global issues. AMBS’s partnerships across Dubai, Hong Kong, Shanghai, and Singapore provide a truly international perspective, enabling us to share, learn, and lead from multiple viewpoints.
Our School’s achievements in responsible business are notable:
- Environmental Accountability: Professor Paolo Quattrone’s research in environmental accounting has garnered international recognition for proposing frameworks that hold businesses accountable for their environmental impacts, encouraging organisations to recognise nature as a key stakeholder in business decisions.
- Diversity and Inclusion in Leadership: Research led by Professor Fiona Devine, a champion of diversity in business, has driven new insights into inclusive leadership practices, helping companies create diverse, equitable environments where varied perspectives drive innovation and resilience.
- Corporate Governance and Social Responsibility: AMBS’s research team has been instrumental in defining new standards of corporate governance, advocating for policies that emphasise ethical conduct and social responsibility in leadership decisions. This work has influenced policy-making and is now referenced in global leadership frameworks.
Through our MBA and executive education programmes, we prepare the next generation of leaders to see beyond the balance sheet and apply ‘Original Thinking Applied’. From environmental management to ethical supply chains, our graduates implement responsible practices across sectors and geographies, leading transformations that contribute to the greater good.
Business Schools as catalysts for change
As Hayward highlights, business schools must take responsibility for driving real change. The challenges we face demand a radical approach, embedding responsible leadership at the core of every decision and challenging students to confront hard truths about their industries and values.
AMBS is rising to this challenge by setting a high standard for thought leadership. From our pioneering Environmental Responsibility Lab to our global partnerships with the UN’s SDG task forces, AMBS is cultivating leaders who champion sustainable practices, ethical supply chains, and social equity. In a world where the stakes are higher than ever, we believe in the power of business to be a force for good—and we’re equipping our students, faculty, and partners to make it happen.
Join us in driving the future of responsible business
If you’re ready to redefine business, to move beyond traditional paradigms and reimagine success in terms of integrity and impact, AMBS offers a world-class education grounded in these values. With immersive experiences, hands-on consultancy projects, and robust industry connections, you’ll gain the skills, insights, and vision needed to lead with purpose in a complex world.
Explore how Alliance Manchester Business School can prepare you to be the kind of leader the world urgently needs. Whether you’re a prospective student, an academic, or a global business professional, join us in reshaping the future of responsible business.
Let’s redefine business—and make a real difference together.
Read Professor Simon Hayward's full thought leadership article >>
