Today, people expect more from the businesses they work for, buy from, and invest in–meaning that businesses need to think bigger about how to create value for a wide range of stakeholders.

To address this shift, Yale SOM has established the Yale Program on Stakeholder Innovation and Management (Y-SIM) to develop new thinking and help leaders create long-term value to those that matter to the success of their organizations.

“Y-SIM will leverage scholarship across Yale SOM and play an important role both in educating future leaders and in helping to inform and operationalize the alignment of company priorities with stakeholder commitments,” says Kerwin K. Charles, the Indra K. Nooyi Dean of Yale SOM. “We are grateful for the generous support that makes the program possible. Its founding could not be more timely.”

By examining and funding relevant academic research, developing case studies, and convening academics and leaders from all sectors, Y-SIM will advance how businesses think about value.

“There is considerable discourse today on the responsibilities of business to its stakeholders,” says Jon Iwata, a founder and practice leader at Y-SIM and former IBM executive. “This discourse is important, but we believe that leaders’ most urgent need is the development of new skills, capabilities, and management systems. The result will be businesses that are at once more responsible and more enduring, distinctive in character, and authentic in action.”

Read more about the Yale Program on Stakeholder Innovation and Management.