AACSB still talks about the legal, social, and ethical environment in its
"core" requirements.  There was a survey reported in the education journal a
couple years ago that showed business exexutives valued the leagal
environment courses as much or more than many pure business courses.  It is a
great course to initiate, add to, or complement business ethics.  At least
here, most business profs are more than happy to cede the ethics issues to a
course that can address them in the normal course of exploring business
behavior.  We also have a stand alone ethics course, so the ethics in the
grad legal e serves as in introduction to the concepts.  We're being reviewed
right now by AACSB.  One issue it wsa interested in is the treatment of
cultural diversity in the curriculum.  Again, there are a number of areas in
the legal e course-- constitution, employment law and issues, etc., where the
issue of cultural diversity is apparent and ripe for positive development
(not just the negative legal issues but the opportunity for development of
the richness of the organization, etc.)
 
Ask them to poll the business community.