The report, called Vital business: The essential role of social sciences in the UK private sector, says that people with social science skills play vital roles in business functions such as HR, accounting, finance, marketing and legal.

Areas in which social sciences can help include facilitating and increasing business growth, product development, risk management and strategic planning.

Social science knowledge and expertise is mentioned in the report as especially important for leadership roles, as it helps in the understanding of people and behaviours, particularly when trained in economics or management.

The report was based on in-depth interviews with leaders at Cisco, Deloitte, Royal Dutch Shell, Willis-Re, WSP and others, and social science subjects featured include economics, social psychology, business studies, political science, sociology, geography, management , education, and law.

Social science subjects, according to the report, are vital for business and should be both welcomed and supported by government in the education system at school and university as essential to the workforce.

Professor Roger Goodman, president of the Academy for Social Sciences, said: “As the UK is confronted with the deepest economic recession for 40 years, the messages in Vital Business provide an important opportunity for UK policymakers, captains of business and leaders across higher education to take stock of the wide range of social science skills and expertise that will be required for Britain’s economy to bounce back in the short term, and remain competitive on the world stage long into the future.”