How Diversity, Equity, and Inclusion (DEI) Are Shaping MBAs

UPDATE: This article was originally posted on April 27, 2022. It has been updated with new information and tips below. 

Economic and wealth inequality are at record highs across the globe, causing unprecedented social and political issues. Given this mounting number of urgent issues related to race, gender, economics, LGBTQIA+ individuals, and other affected communities, the business world is under increasing pressure to start contributing to, rather than impeding, positive impact.

One way that business leaders can do this is by promoting diversity, equity, and inclusion (DEI) within their organizations.

Thus, now more than ever, MBAs are not only integrating DEI topics into their curricula but are also creating entire DEI-focused majors and concentrations.

In this post, we go into more detail as to why business schools are adapting to diversity, equity, and inclusion. We also discuss some of the key topics and skills that you can gain from focusing on these topics as a student and share some of the best DEI-focused programs.

 

Why MBAs are becoming more DEI-focused

With the importance of DEI topics becoming increasingly apparent, business leaders must be prepared to encourage and promote participation among a more diverse group of people than those who have traditionally represented companies. Given increased pressure for social justice across the world, diversity in business leadership is increasingly important for long-term business success.

Martin Davidson, associate dean at Darden School of Business, in talking about the increasing focus on DEI at the school, said: “I think the world, and b-schools in particular, are catching up. We are in a global marketplace and having a capacity to engage, lead, and manage across differences is not an option. The social consciousness around identity – and the diversity of identity – is at something of a tipping point. You just can’t be a competent leader if you aren’t engaged in this. The need for business education to adapt and to become better at incorporating that into learning is mission critical.”

Diverse leadership is not only about image but is, more importantly, about being able to properly support and include employees from all backgrounds. It also creates more positive and creative work cultures and contributes to employee retention. 

For example, a BCG study found that diverse management teams can raise revenues by 19%, and research by McKinsey has shown that companies actively promoting DEI strategies are 35% more likely to achieve above-average returns.

In addition to focusing more on DEI within their programs, many MBA programs are also asking for examples of DEI-related achievements in their applications. 

For example, one of Kellogg’s admissions essay questions asks about candidates’ experience with diversity: Kellogg has a diverse student body and values students who are inclusive and encouraging of others with differing perspectives and backgrounds. Please tell us about a time when you witnessed the candidate living these values. (300 words)

It’s clear that DEI is quickly becoming central to not just the business world but MBAs in particular. With all of these developments come a wide range of opportunities for business schools candidates to pursue social impact in their post-MBA careers.

 

What skills and knowledge can students gain from DEI-focused courses and majors?

Given how critical the ability to promote DEI as a business leader is, there is a wide range of areas that students can develop when focusing on DEI during their MBAs in order to shape more inclusive and equitable organizations.

Some of the key skills that students can gain are cross-cultural communication, empathic leadership, and negotiating for social impact. For example, Kellogg’s DEI Pathway includes courses such as “Beyond Diversity: The Fundamentals of Inclusive Leadership” and “Managing Firms for Shareholders and Society.”

Important knowledge that students pursuing DEI topics or specializations can learn includes how to drive social change in business, how to identify and reduce professional bias, and how to lead impact investing deals. For example, Emory Goizueta’s DEI concentration offers “Bias in the Workplace” and the Philanthropy Lab.

While this is just a sample of what is available at the various DEI-focused MBAs, it is clear that there is a wide range of skills and knowledge that students interested in promoting DEI in their careers have access to in today’s business school context. Gaining these skills is a great way to future-proof your career while also empowering yourself to make needed disruptions to the world of business.

 

Our top picks for DEI-focused MBA programs

While all top business schools have integrated some form of DEI programming into their communities, some have shown their commitment to the topic by offering comprehensive DEI opportunities and concentrations. We go through some of these programs below.

 

Northwestern Kellogg – DEI Pathway

Within Kellogg’s DEI Pathway, students gain resources and skills to integrate DEI-focused research and best practices into their leadership. Kellogg has long been one of the leading business schools for social impact, and their emphasis on the importance of DEI leadership as a moral imperative is just another indication of this.

Source: kellogg.northwestern.edu

The DEI pathway combines a variety of learning approaches, including theory, experiential learning, and interdisciplinary collaboration opportunities. As a graduate of this program, you will be well prepared to have difficult conversations about diversity, promote inclusion in the workplace, and foster equitable collaboration among employees and stakeholders. 

 

Georgetown McDonough

McDonough’s MBA has many opportunities to focus on DEI, including “Innovation Through Inclusion.” The program’s DEI courses are designed to help students understand and practice inclusive management skills.

Source: msb.georgetown.edu

The school also offers regular DEI-themed events, such as Championing a Diverse Workforce and Women Leaders in Finance Series as part of the Stanton Distinguished Leaders Series.

 

UNC Kenan-Flagler

UNC’s MBA has long been focused on promoting diversity and now offers a wide range of opportunities to learn and practice DEI solutions. As their website says, they aim to “prepare you to be a leader who cultivates diversity in teams, fosters inclusion and puts equity into action, not just because it’s the right thing to do, but because you know it leads to stronger organizations and more impactful solutions.”

Source: kenan-flagler.unc.edu 

The full-time MBA has many DEI-focused courses, including “Inclusive Leadership” and “Management of Workplace Diversity.” There are also a number of extracurricular opportunities to hone in on the topic, such as Inclusive Blue Leadership Week and the Women’s Workshop, as well as a number of DEI clubs. 

 

Emory Goizueta

Emory’s Goizueta Business School, like Kellogg, has demonstrated its commitment to DEI by creating an entire MBA concentration in the area, available to students in both the school’s one- and two-year programs. 

Source: emory.edu

Courses that count towards the concentration are taught by Goizueta’s faculty members with deep expertise in ethical leadership. For example, “Social Entrepreneurship & Impact Investing” is taught by J.B. Kurish and is focused on the role capitalism plays in exacerbating inequality as well as solutions that business leaders can develop to mitigate this issue.

 

Columbia Business School

Source: columbia.edu

Columbia Business School has recently introduced its Phillips Pathway for Inclusive Leadership (PPIL) program. According to the school’s website, this is a co-curricular program aimed at equipping students with the skills and strategies necessary for inclusive and ethical leadership. It includes discussions, workshops, and other opportunities to focus on your DEI skillset while collaborating with others interested in this topic.

All MBA students enrolled in this pathway must attend at least one PPIL event and submit a post-event reflection twice annually. Students also have access to many DEI-related events and PPIL-approved programming.

 

University of Minnesota – Carlson School of Management

Although Carlson does not offer a DEI concentration, MBA students have access to many DEI-related opportunities. Events like the Social Justice Lecture Series and Inclusive Leadership Training allow students to learn more about key DEI issues and how to integrate them into their careers.

Source: carlsonschool.umn.edu

In addition, Carlson’s partnerships with organizations such as the Forte Foundation and People of Color Careers not only give marginalized students access to resources to boost their networks and careers, but also offer learning opportunities for those interested in boosting their DEI potential.

 

Get accepted at the DEI-focused program you’re targeting

Here at Ellin Lolis Consulting, our team of experts stays up to date on the most important trends and developments in the MBA world so that we can not only advise the very best programs to our clients but also ensure post-MBA career success. 

And because we believe that each client deserves an individualized approach, we take the time to get to know your situation, profile, and goals so that you make the right application decisions. This includes understanding how you want to use DEI in your career and what MBA program can help you achieve those objectives.

To learn more about how you can put the Ellin Lolis Advantage at work for you, apply to work with us today!