For almost a decade, the Aspen Institute’s Faculty Pioneer Awards have recognized faculty who are at the vanguard of teaching and scholarship. Dubbed “the Oscars of the business school world” by the Financial Times, these awards celebrate educators who demonstrate leadership and risk-taking—and blaze a trail toward curriculum and scholarship that deeply examines the relationships between capital markets, firms, and the public good.

2013 Selection Criteria: In response to the wider debate about the health of capitalism, a growing number of faculty are returning to the fundamental questions about the purpose of business and the decision rules that help managers create business value without imposing costs on wider society.

This year we are accepting nominations of business school faculty who have developed and taught courses in any discipline that prompt students to examine critically this question of the purpose of the corporation. Among the themes that we will consider:

• Context and Corporate Purpose--For example, we are looking for courses that explore the evolution of corporate purpose across time and place—and how different contexts have shaped the norms that drive corporate behavior and collective perceptions of the role of firms and their leaders. Also of interest are courses that examine non-traditional theories of management and other approaches that prompt students to study decision rules that lead to maximizing long-term returns.
• Timeframe and Tools--Such courses might, for example, examine the effects of short-term pressures in management and capital markets on business purpose, and highlight “tools” and organizational design choices that promote long-term thinking and acting. (These can include ownership structures, valuation models, problem-solving frameworks, compensation, incentive systems, metrics, and more.)
• Actors and Interests--Courses that critically examine the roles of various actors in firms and capital markets who carry out (and shape) the purpose of the firm. Courses in this category might explore: how business is governed and the responsibilities of boards, what the law says about business judgment and fiduciary duty, or the nature of agency issues in the investment value chain.  Courses might also examine how business interacts with outside stakeholders including government, civil society/NGOs, and business organizations and how it influences these actors or is influenced by them.

Exploring the purpose of the corporation has been a key area of inquiry for the Aspen Institute Business & Society Program for several years.  Additional information about our work in this area is available here.

Time frame: Nominations for the 2013 Faculty Pioneer Awards have closed. Thanks to those who submitted nominations for this year's awards.

Nomination procedures: You will be asked to provide the name and contact details for you and the nominee, the nominee’s CV (or URL) and a 500 word statement highlighting the nominee’s accomplishments.  We will also ask you to provide information about the course(s) the nominee teaches that prompt students to examine critically the question of the purpose of the corporation.

Eligibility: All faculty members teaching at any institution worldwide offering a graduate management degree are eligible for nomination.

Selection of award winners: Nominators will be informed by in mid-May if their candidate has been selected for the final round of competition.  At that time, we will request additional information about the nominee that will be provided to the judging panel selecting this year’s award winners.   Final selection will be made during the summer with a press release scheduled for early September, 2013.

Questions? Contact Trisha King at patricia.king[at]aspeninstitute.org.