Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.
THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION BGA
ISSUE 3 2023 VOLUME 17
LEADERS NEVER STOP LEARNING
Strategies for educational success in the age of AI LICENCE TO SKILL
SETTING THEIR SIGHTS ON SUSTAINABILITY: INTEGRATION STARTS WITH FACULTY AT IÉSEG OVERCOMING ADVERSITY: MIM KYIV'S COMMITMENT TO BUILDING A BRIGHTER FUTURE EXPERIENTIAL LEARNING: COMMUNITY PROJECTS' POTENTIAL FOR SOCIAL IMPACT
PLUS
ASIA PACIFIC CONFERENCE 2023 15-17 NOVEMBER 2023 BANGKOK, THAILAND
Join us for presentations and debate on key issues that will impact business schools in the Asia Pacific region over the next five years and beyond. Themes covered will include: • Best practices in business school innovation: digitalisation and AI • Lifelong learning programme development and alumni career growth • Sustainable leadership development – the Silk Road Entrepreneurship Education Network • Approaches to ‘golden courses’ in terms of theoretical principles and practical skills • Responsible management and sustainability integration in curriculum development We can’t wait for you to join us in Bangkok. Book your place today
associationofmbas.com/apac23
Contents ISSUE 3 2023 VOLUME 17
05 EDITOR'S LETTER Re ections on Business Impact ’s evolution as we present its new look 06 BUSINESS BRIEFING The latest research, news and initiatives from BGA members based across the world 10 IN GOOD SHAPE How Ukraine’s MIM Business School is overcoming the realities of war to continue serving its community
32 SPOTLIGHT ON SCHOOLS Kazakhstan’s Nazarbayev
University Graduate School of Business became the 250th institution to join BGA in May 34 GUEST COLUMN How Business School Lausanne’s decision to open its home to a climate action firm has benefited both parties 37 WEBSITE ROUND UP Highlights from our online analysis and thought leadership 38 FROM THE CEO How to help graduates impress employers in the age of AI
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20 LEARNING THE ROPES Iéseg School of Management’s Maria Castillo on why upskilling on sustainability must begin with teaching faculty 24 DIVING IN Business school case studies highlight the social impact potential of experiential community projects 28 EQUAL TO THE TASK Regina Cordes explains how IU International University has achieved a proportion of female leaders that tops 60 per cent
16 COVER STORY STRATEGIES FOR SUCCESS
Hult’s Uma Gunasilan and Nikhil Soi explain how educators can harness AI to help students develop skills that maximise its opportunities
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Business Impact ISSUE 3 2023
AMBA & BGA African & Middle Eastern Capacity Building Workshop
24 OCTOBER 2023
AMBA & BGA invites you to attend BGA’s latest Capacity Building Workshop tailored towards business schools in Africa and the Middle East, as well as those with an interest in the region This online workshop will consider the role of business schools in upskilling local workforces in AI technologies, drawing on lifelong learning initiatives and case studies of AI implementation
Attendance is free. Scan the QR code to learn more and register
EDITOR’S LETTER
EDITORIAL
Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com Head of editorial Colette Doyle c.doyle@amba-bga.com
EVOLUTION BY DESIGN
Art editor Sam Price
Sub-editor Heather Ford
Business Impact is back with a fresh look and a flurry of features aimed at informing and inspiring an industry that continues to evolve at pace
Insight, content & PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Membership director Victor Hedenberg v.hedenberg@amba-bga.com BGA membership & account manager Ben Maheson b.maheson@amba-bga.com Senior marketing executive, BGA Shareen Pennington s.pennington@amba-bga.com Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
S ince its launch at the start of 2019, Business Impact has strived to shed new light on the most pressing topics facing business schools, while promoting the principles of positive impact, responsible management and lifelong learning. The last of these is particularly pertinent as we present the magazine’s first full redesign. Our revamp is a bid to take on board all the lessons learned from these past four years to deliver a magazine that is accessible, engaging and better able to tell stories of experience and best practice from the world of management education. Similarly, the magazine’s motto of “Leaders never stop learning” is reflected strongly in this issue’s features. In our cover story ( page 16 ), Hult International Business School’s Uma Gunasilan and Nikhil Soi discuss how the age of AI will impact on the skills needed to succeed in today’s world of work. They also detail how business schools can “support students to leverage the endless possibilities” by embracing the technology. Changing skillsets also take centre- stage in our two interviews. In the first ( page 10 ), the president of Kyiv-based MIM Business School, Iryna Tykhomyrova,
“OUR MOTTO OF ‘LEADERS NEVER STOP LEARNING’ IS REFLECTED STRONGLY IN THIS ISSUE’S FEATURES” o ers insight into the determination of its students to overcome the realities of war and prepare for a brighter future. “They want to build it and they want to do it by applying the appropriate knowledge, skills and competencies,” she says. In the second ( page 20 ), Iéseg School of Management’s Maria Castillo reveals the progress of e orts to upskill faculty and sta on sustainability as the school seeks to ensure that the topic permeates throughout its o erings. Returning to the pursuit of positive impact, meanwhile, we hear how IU International University has embedded equal opportunities as a core institutional value, from vice-rector Regina Cordes ( page 28 ). We also learn how business schools are incorporating community projects into their programmes as a means of o ering socially minded experiential learning ( page 24 ). We hope you enjoy our new look.
Head of marketing and communications Leonora Clement l.clement@amba-bga.com Finance and commercial director Catherine Walke r
Director of accreditation and director of BGA services Mark Stoddard
Chief executive o cer Andrew Main Wilson
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com GENERAL ENQUIRIES info@businessgraduatesassociation.com
Tim Banerjee Dhoul Editor, Business Impact
Copyright 2023 by The Association of MBAs and Business Graduates Association . All rights reserved. Material may not be reproduced without the permission of the publisher. While we take care to ensure that editorial is independent, accurate, objective and relevant for our readers, BGA accepts no responsibility for reader dissatisfaction rising from the content of this publication. The opinions expressed and advice given are the views of individual commentators and do not necessarily represent the views of BGA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. BGA makes every opportunity to credit photographers but we cannot guarantee every published use of an image will have the contributor’s name. If you believe we have omitted a credit for your image, please email the editor.
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Business Impact ISSUE 3 2023
BRIEFING Side hustles, ChatGPT and nature restoration projects in Southeast Asia all feature in Business Impact ’s latest round-up of recent research and initiatives from BGA members based across the world. Compiled by Tim Banerjee Dhoul and Ellen Buchan THE LATEST NEWS FROM ACROSS BGA’S NETWORK Business
ORGANISATIONS CAN ALLEVIATE EMPLOYEE PROCRASTINATION
School of Business’ management department. “Procrastination in a career advancement context happens when people postpone, delay or avoid the pursuit of promotions at work – whether it is active or passive,” Zhu explained. Based on a survey of 201 people, the research shows that organisations can help reduce career advancement procrastination by eliminating the contextual barriers affecting it, including discrimination based on demographic characteristics such as gender, race, religion, sexual identity and age. “We looked at two questions about procrastination in a career context: what are the things inside a person that might lead them to procrastinate and what are the things outside them, in their
environment,” said paper co-author Tracy Hecht, an associate professor of management at John Molson and Zhu’s MSc thesis supervisor. “Contextual factors are as important as personality traits. This means that organisations have a major role to play in terms of removing the barriers in people’s paths,” Hecht added. Organisations can also provide career resources and access to training that help build people’s confidence in their ability to achieve their career goals. “It may sound like common sense, but self-confidence is really powerful and it drives a lot of our behaviour. When we feel confident that we can do things, we do them without delay,” reasoned Hecht. TBD
SCHOOL John Molson School of Business Concordia University COUNTRY Canada
he reasons why people procrastinate when pursuing career advancement relate as
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much to elements that organisations can influence as they do to personality. This is according to a research paper in Human Resource Development Quarterly based on the thesis of Lin Zhu, a master’s graduate of John Molson
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NEWS & INSIGHT
One such scholar at the event was IBSS PhD student Yue Zhou. She explained that encouragement from XJTLU academics made her consider the possibility of pursuing a PhD and set her on her journey as a researcher. “I hope my stories about doing the research I love can inspire more young people to find and enjoy their passions,” said Zhou. The group also spoke about the importance of women in scientific research, as a crucial means of diversity in research teams and in the creation of fresh perspectives, as well as the support they may require in achieving a sustainable work‑life balance. “I need to take care of my children while managing a research team and a PhD student team. Balancing my life and career is not easy, so it’s important to learn to manage one’s time and plan in advance,” said Professor Li Yang, associate dean of research and impact at XJTLU’s School of Science. EB “I believe we have a responsibility to create a more gender‑equal environment for female researchers... senior academics can provide greater support”
NURTURING GENDER-BALANCED RESEARCH ENVIRONMENTS
(science, technology, engineering and mathematics) fields. Countering this is the university’s work in encouraging women to join these fields – women slightly outnumber their male counterparts at master’s degree level in STEM subjects and represent 40 per cent of doctoral students. “Having more women in STEM is an effective way to eradicate gender stereotypes and gender bias in our digital space. It helps to involve more women in the ongoing digital transformation, thereby contributing to gender equality. I believe we have a responsibility to create a more gender-equal environment for female researchers. I also hope senior academics can provide greater support to younger scholars, especially females,” said Yu Song, director of the XJTLU think tank, XIPU Institution.
F emale researchers at Xi’an Jiaotong-Liverpool University (XJTLU), home to International Business School Suzhou (IBSS), shared their perspectives on promoting women’s participation in the digital economy at a recent roundtable held by the joint venture institution. The digital gender gap was a focal point at the event and was said to have been caused by many issues, including the lack of women in STEM SCHOOL International Business School Suzhou Xi’an Jiaotong-Liverpool University COUNTRY China
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SCHOOL La Trobe Business School, La Trobe University COUNTRY Australia SIDE HUSTLES WORTH ALMOST AUD$10 BILLION
S o-called ‘s ide hustle’ businesses in Australia number more than 315,000 and are worth an estimated AUD$9.8 billion (c$6.4 billion) to the economy, according to a study from La Trobe Business School, Melbourne. Defined as ‘hybrid entrepreneurship’ in the study and referring to those pursuing paid employment and entrepreneurship simultaneously, the research also indicates that approximately 24 per cent of all Australian entrepreneurs start their businesses while still in a full-time job. “Hybrid entrepreneurship provides an option to supplement personal or family income and provide social upliftment and wellbeing,” said lead researcher and professor of entrepreneurship at La Trobe Business School Alex Maritz. “Not only can individuals increase their income, they can also learn new skills and gain experience. Hybrid entrepreneurship is an excellent way for aspiring entrepreneurs to ‘test the waters’ of self-employment.” Maritz noted that the pandemic and ongoing economic difficulties accelerated the side-hustle trend. He also said the findings showed that risks, such as overstretching existing time commitments, were outweighed by the benefits. Indeed, individuals who are more risk averse are more likely to opt for a side hustle than full-time entrepreneurship. The study was published in a special issue of Administrative Sciences . TBD
THE NEEDS OF NATURE WARRANT GREATER INVESTMENT
nature. Investors stand to benefit greatly from nature investments – whether for resilience, portfolio diversification or cost reduction efforts,” said report author and CCFI research fellow Pernille Holtedahl. Sustainability-linked bonds (SLBs) offer one route to further investment, according to the report. SLBs to the tune of $73 billion were issued globally in 2022 and are designed to tie organisations to specific sustainability commitments, with penalties incurred for missed targets. Drawing on cases studies from Malaysia, the report recommends that SLBs are administered with credible and verifiable key performance indicators. The report, Nature Investment as a Response to the Climate Crisis: Opportunities in Southeast Asia , also cautions against basing investment cases for nature around carbon credits, arguing that the goal should be the long-term incorporation of nature benefits into broader corporate investment decisions. TBD
N ew means of enticing private sector investment are needed to fund nature restoration projects in Southeast Asia that could cost up to $200 billion. That’s according to a new study from researchers at Imperial College Business School’s Centre for Climate Finance & Investment (CCFI). It argues that investing in nature projects of this kind offers a logical and powerful response to the climate emergency in Southeast Asia, where a number of economies SCHOOL Imperial College Business School COUNTRY UK
are underpinned by nature. “Climate change is already impacting Southeast Asian
economies and, together with the risk of ecosystem collapse, provides a strong motivation for investing in
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NEWS & INSIGHT
SCHOOL Geneva Business School COUNTRY Switzerland NEW MBA BRUSHES WITH FINE ARTS MANAGEMENT
eneva Business School has launched the Fine Art International Management MBA
G
– heralded as being the first of its kind. Covering topics that include finance, art law, technology, logistics, ethics and compliance, the programme’s aim is to prepare managers for careers in art sales, banks and museums, as well as roles that work with cryptocurrencies and NFTs. “There has never been a more exciting time to get into the art world. The pace of change over the past year has been electric,” explained Geneva Business School programme manager Sixtine Crutchfield-Tripet. “The added complexities of new digital formats have highlighted the industry’s need for people with real business management expertise. We have designed this course specifically to meet that demand.” The English-language programme encompasses six conferences, as well as involvement in a school-wide intensive leadership week that is designed to allow participants on all master’s programmes at Geneva Business School to network. The school says it is the perfect place to study an MBA in art because Geneva is a centre of art law and home to a renowned free port thought to contain art collections worth $100 billion. Switzerland is also home to celebrated art fair Art Basel. The programme’s first cohort starts classes this autumn. EB
REFLECTING ON THE USE OF CHATGPT IN EDUCATION
Administration Nicolás Garrido. “In the hands of students with a solid background, high motivation and discipline, it can significantly improve their knowledge and skills. “However, for students who lack a good foundation, motivation or proper habits, the use of AI does not make a noticeable difference. It shows that the learning process is the result of the interaction between knowledge and the socio-emotional skills of students,” he added. The biggest positive reported in the survey is ChatGPT’s ability to make tailored recommendations for students. “These became the starting point for an individualised strategy for each student,” Garrido revealed. There were, however, some problems identified, notably that not all of ChatGPT’s applications are free. In addition, it has limited knowledge of anything taking place after September 2021, making it unreliable for connecting classroom learning to current affairs and the developing geopolitical situation. EB
T he use of ChatGPT in education continues to divide opinion – some see it as a tool to complement teaching, while others think it is a threat to students’ ability to think critically. One school that has embraced it is the Faculty of Economics and Business (FEN) at Andrés Bello University, where it has already been incorporated for analysis and problem-solving tasks in economics courses. To understand it further, faculty members were asked to reflect on its impact. “ChatGPT could widen the skills and knowledge gap between different students,” said director of FEN’s Department of Economics and SCHOOL Faculty of Economics and Business, Andrés Bello University COUNTRY Chile
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA’s content editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
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In tells Tim Banerjee Dhoul about the reinforced sense of responsibility that is felt by both the school and its students good shape Ukraine’s MIM Business School is overcoming the realities of war to continue serving its business community and training its leaders to build a brighter future. President Iryna Tykhomyrova
10 Business Impact ISSUE 3 2023
INTERVIEW
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Where is MIM Business School Ukraine currently operating and running its programmes from and where are the school’s students working and studying from? “All this time MIM Business School has been operating in Kyiv. In April 2022, less than two months after the start of the war, we resumed our programmes online for students and launched two new pre-MBA groups. Some students enlisted or joined territorial defence units and suspended their studies, but most decided to continue despite the crisis and the challenges of war. “In February of the same year, the debris of a missile damaged our building, but it did not take us long to restore everything. That autumn, we resumed in-person MBA classes and in early 2023, we held in- person graduation ceremonies for our MBA and senior executive MBA classes. These were emotional events that brought our close-knit community closer together and demonstrated our resilience. We felt invincible. “Today, most of our students are in Ukraine, concentrated in the cities of Kyiv, Kharkiv, Dnipro, Poltava or Odesa. We also have students from Mariupol and other cities that are either occupied or in war zones. They are mostly joining online and continue their studies from their new places of residence. “Even before the pandemic, we had started to implement the HyFlex format so that we could teach students both in the classroom and online. We have all the necessary equipment and create the effect of presence to engage both offline and online students seamlessly in the learning process.” Can you tell us about your most recent intake of MBA students, their two-year programme of study and their ambitions in a time of conflict? “The new MBA programme started with 28 students, with 25 more people joining our senior executive MBA programme. Enrolment coincided with the peak of massive missile attacks on Ukraine’s infrastructure and civilian targets. It was very difficult to plan, especially for two years in advance, but our entrepreneurs and managers were interested in these programmes, they were enquiring about the course and were applying. “The main goal of these participants is to accelerate Ukraine’s economic victory. The business community is working hard in regions free from military actions, paying taxes and volunteering. Moreover, those who have relocated abroad are helping to establish the reputation of Ukraine and Ukrainian business outside the country. These people will become the leaders of
our country’s revival. They understand that they need to be ready for the effective reconstruction of their homeland and that this is the best time to acquire and improve their knowledge, skills and competencies. “We are proud that Taras Chmut, head of respected charity Come Back Alive, joined our 2023 MBA class. This foundation has helped Ukraine’s military for many years and brought its activities to a new level last year. The charity’s founder and Ukraine’s current deputy minister of defence Vitaliy Deynega is also an MBA alumnus of MIM. “Our MBA programme has been updated, with a curriculum that reflects military realities in Ukraine and global macroeconomic changes. Furthermore, to lay the foundation for the restoration of Ukraine’s economy, we have added an international online component that features leading business schools from across the world and their faculty.” Why is it important for your school to continue offering programmes during a time of conflict? “MIM was the first business school in the post-Soviet region to offer an MBA programme. For more than
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INTERVIEW
business to speak the same language as the rest of the world, so it is extremely important to continue providing quality business education during the war.” What were the reasons behind the launch of the ReInforceUA initiative? “ReInforceUA is an international educational project aimed at strengthening Ukraine by bringing the global agenda to our country. Despite the war, Ukraine needs to develop at the same pace as the rest of the world. We need to become more global, know what the world is doing and adopt new ideas to move in the right direction, as well as implement modern technologies. “Between February and March 2022, international partners, students and graduates started reaching out to us to offer help. We realised that contributions from the world’s leading business schools, outstanding teachers and renowned experts would offer valuable intellectual support for businesspeople, managers, politicians and public figures who are doing their best to strengthen Ukraine’s economy. Last summer, we therefore launched a speaker series where ideas and opinions from leading thinkers are delivered to the Ukrainian business community each week. “The lectures within ReInforceUA are free, but we collect charity donations. The funds are being used to implement a programme for female entrepreneurs who have been displaced because of the war. The purpose is to provide them with educational support, help them adapt and acquire the necessary knowledge and skills to start and run a business wherever they reside now. I would like to take this opportunity to thank AMBA for its support of the ReInforceUA project.” What have been the highlights of ReInforceUA so far and what plans do you have for its future? “One highlight has been the speakers, including professors from business schools and universities, as well as experts such as [UK economist] Guy Standing, [Israeli author] Yuval Noah Harari, [Swiss business theorist] Alex Osterwalder, [Harvard Business School associate] Christian Ketels, [US marketer] Philip Kotler and [outgoing Insead dean] Ilian Mihov. It even featured Charles Camarda, a US astronaut who went into space shortly after friends of his died in the Columbia shuttle disaster to conduct research designed to avoid fatal mistakes in the future. “To wrap up the project, we are hosting an in‑person forum in Kyiv in October, entitled Facing the Future: ReInforceUA . We believe that project speakers will
34 years, our mission has been to consistently create a critical mass of business leaders who are the driving force of Ukraine’s competitiveness in the global economy. In times of crisis, it is even more important to have strong leaders who can run a company or a country successfully under difficult conditions. “We have always felt a responsibility to contribute towards the development of an independent Ukraine, a country with European values and great potential. At this time, we feel an even greater responsibility to set an example of how the Ukrainian business community can be supported with intellectual resources and a
mindset of doing business no matter what. “A war most often brings with it a fall in the
economy and business activities. Business education at such a time helps managers and entrepreneurs understand the complexity of the economic and political challenges they are facing. The labour market is also undergoing significant changes and skilled professionals are becoming increasingly important for companies looking for ways to survive and grow. “The demand for business education in Ukraine is growing, so we need to adapt quickly. We believe that the more educated businesspeople and managers we have in Ukraine, the faster our country will develop and the more it can offer the world. Already, the war has shown that Ukrainian business can operate in international markets as well as they do at home. “For example, the logistics company Nova Poshta is opening offices in Poland and the Baltic states. Our graduates are successfully launching businesses in Europe and other countries. High-quality international business education is one of the driving forces of Ukrainian business’ international expansion. We teach
“At this time, we feel an even greater responsibility to set an example of how the Ukrainian business community can be supported with intellectual resources and a mindset of doing business no matter what”
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difficulties of war, the decisions they make to keep their organisations going, how they take care of their employees and the ways they are seeking to support the country’s economy. This project wasn’t just created to share information, but also to encourage members of our business community to help each other, so we created another group on Telegram where companies can post information, offers and positions. “Another project is MIM Toolbox. The focus here is on managerial psychology in times of crisis. Our faculty members with experience in coaching and psychology host live streams aimed at providing support and enhancing managers’ resilience to help them cope. Participants can also ask questions during the broadcast and receive an immediate response.”
come despite the war and have found a venue that will be secure even during air raids. “To make this information available to as many Ukrainians as possible, we are also working on a book that will collate lecture materials from the project.” How did the school come to partner with an MBA alumnus on Raise for Ukraine and what are the aims of this project? “The Raise for Ukraine (Raise4UA) project is aimed at developing the volunteer community and accelerating and increasing both military and civilian aid. It also provides a platform for international donors and philanthropists that want to help Ukraine. “Maksym Korolenko, co-owner of the Zagorye travel company and a student on MIM’s senior executive MBA programme began to work on the project in spring 2022. He has since graduated and become a faculty member at MIM. “Korolenko came up with the idea of bringing together donors with those they want to help. At first, he provided official National Bank of Ukraine accounts specifically for the needs of the armed forces. We then realised that MIM Business School should create a resource of its own to optimise the capabilities of international companies and our own connections, so the MIM team acted as a partner in the creation of the Raise4UA platform. In particular, we collect funds for the programme I mentioned earlier that seeks to support Ukrainian women displaced by the war. “The Raise4UA platform puts transparency at its centre to help implement charity projects, improve communication and build trust. For example, it uses a CRM system that tracks both the flow of money and communication with benefactors. Any organisation involved in assisting the military or providing humanitarian aid to civilians can also post a fundraising request.” What other initiatives have been set up by the school in response to the war? “In the first days of the war, we created MIM Helps, a group chat in the Telegram app that around 500 people have now used to exchange messages relating to requests for, and offers of, support. “One month after the start of the conflict, in March last year, we launched two online projects. MIM: Economic Front is a series of anti-crisis broadcasts in which experts and managers of leading companies discuss how they are overcoming the
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INTERVIEW
Do you think that management education has a responsibility to play a leading role in the reconstruction of Ukraine? “The war’s impact has been devastating, but Ukrainian executives and managers are still going to school. It means they believe in the future of Ukraine. They feel that their individual contribution is important and that the kind of country they and their children will live in rests on their shoulders. “For this reason, I do believe management education will play a leading role in the restoration of Ukraine. E ective management is critical for any successful business. If Ukrainian managers have strong skills, it will help companies and organisations to become more competitive in the global market and accelerate economic growth. Management education can also help build an e ective public sector management system. Leaders in possession of good management and decision-making skillsets will improve the e ectiveness of public administration and contribute to the development of the country as a whole. “In addition, management education promotes a good corporate culture in Ukrainian companies. It also helps embed high ethical standards and corporate social responsibility. This, in turn, will boost the con dence of international partners and investors in Ukrainian business. “Every time I welcome a new cohort of students, I see people who are eager for new ideas and contacts. They come to study today so that they can create both their own future and the future of Ukraine. That makes me feel stronger and inspires me to continue what we are doing. After all, as I tell all our students, education is always about the future.” Should business schools around the world do more to include politics and international relations in their programmes? “Business cannot exist outside politics and our MBA programme discusses the elements of politics that most a ect business. Today, we need to act more decisively because business education is not just about enhancing knowledge and expertise, it also shapes the way we see the world. For me, it’s clear that global business schools should incorporate the development of students’ strategic understanding of politics and international relations. Business education must provide students with a wide range of knowledge and skills that will help them manage relations with other countries e ectively and understand global issues.”
How is your school planning for the future in a time of such uncertainty? “Of course, planning during a time of war is a challenge for any business school in Ukraine. We have become experts in resilience and crisis management. We need to be exible and adaptable, ready for rapid and unpredictable changes. We also need to implement innovations and technologies in a timely manner. For example, we have several secured classrooms with all the necessary equipment. It means that we have everything we need to survive air raids, rocket attacks and power outages. “It’s also important for us to stay in close contact with the business community. This is relatively easy for us because our 7,500 graduates help us understand the needs of the business community and this means that we can incorporate the latest and most e cient practices into our programmes. “Lastly, we must continue to expand our collaborations and international partnerships to become more global and ensure a timely, high-quality interaction, as well as an exchange of knowledge and experiences, for all our participants. “We are con dent that management education will play a critical role in the future, so today we need to think about our contribution to the development of the educational management system in Ukraine. Our task is to train a new generation of teachers, develop new programmes and update educational legislation. This system should include the best international practices and experience.”
Iryna Tykhomyrova is the president of MIM Business School, based in Kyiv, Ukraine. Under her leadership, the school – often referred to as MIM-Kyiv – has become a regional educational hub and established itself as a platform for dialogue between business, civil society and government agencies. Tykhomyrova is also vice-president of the Baltic Management Development Association, a member of the board of trustees for the charitable foundation of Ukrainian national newspaper, Den (The Day) and a member of the board of directors for the Kulzcyk Foundation Polish-Ukrainian Sisterhood Programme
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Strategies The artificial intelligence (AI) genie is firmly out of the bottle and it’s the duty of educators to instigate a behavioural change in students to ensure they understand its capabilities and can use it responsibly in both their education and future careers. Professor Uma Gunasilan , associate dean of research for success
at Hult International Business School, and career development advisor Nikhil Soi explain further
C hatGPT and AI and their exam results, or even cheat. In a world where machines can find most answers, those answers will only be as good as the humans inputting information – so it is imperative that future employees are well trained in asking questions and evaluating the responses. The average time a skill stays relevant used to be potential to change the world of work is dominating the news agenda. For many in higher education the focus has been on how to detect when students are using this new technology to ‘enhance’ their more than 10 years. In 2017, this had reduced to five and it declined to four by 2022. Soon skills will be relevant for less time than it takes to complete a degree. The combination of accelerated change and advancements in AI means that the skills required in the future will differ considerably. For example, organisations may assess candidates solely on their ability to perform in a role, rather than their credentials and prior experience. AI cannot carry out high-level tasks but it can perform as a collaborator, something that can be leveraged to delegate lower-level tasks and free up time for humans to concentrate on developing those
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NEW TECHNOLOGY
their knowledge beyond the learning of technical abilities, such as understanding algorithms and programming languages. They can then hopefully contribute to the field of AI with wisdom and be leaders who necessitate a holistic approach that considers the broader implications and consequences of using AI tools. This allows them to recognise the limitations and potential biases inherent in AI algorithms, enabling them to contribute to the refinement of AI systems. Integrating AI into classrooms can involve project‑based learning that revolves around students exploring real-world challenges, using AI to decipher problems and developing innovative solutions exploring the output generated by AI. Interdisciplinary team projects can promote skills such as critical thinking, problem-solving, data analysis and teamwork. These projects expose students to AI’s transformative potential and prepare them for AI-driven careers. GIVE STUDENTS HANDS-ON EXPERIENCE TO DEVELOP SKILLS By understanding the potential of AI and its impact on various industries, institutions can ensure that students are equipped to navigate an AI-driven world. This includes staying updated on AI applications in specialisations chosen by the student body. According to the World Economic Forum, nearly one in four jobs are set to change over the next five years. The factors driving this trend include AI, digitisation, the green energy transition and supply chain reshoring. As the job market is set for a new era of turbulence, resulting in a decline in clerical work, employment growth will shift to areas such as analytics, management technology and cybersecurity, while the fastest-growing job roles will be driven by technology, digitisation and sustainability. On one hand, the fastest-declining roles are clerical but, on the other, analytical and creative thinking will remain the most important skills for workers until at least 2025. Students must also consider this changing landscape and develop their digital cognitive thinking ability. Intelligent tutoring systems, such as ALEKS (for mathematics) can particularly benefit students, as the system uses knowledge tracing and machine learning to adjust the level of difficulty and provide guidance according to the student’s strengths and weaknesses. Building impactful and influential global citizens is the major task of the ‘New Age’ educational institutions. Novel opportunities are being curated for people who are capable of explaining how the
skills they need to thrive. It is up to educators to show students the way by incorporating AI into the natural flow of work. Here are five ways in which educators can support students in leveraging this technology. EMPHASISE THE IMPORTANCE OF AI ADAPTABILITY IN CLASSROOMS It is up to educators to emphasise that young people will not only have to live with AI, but also create an ecosystem using it to build vital skills. A growth mindset willing to take risks, fail and think of innovative solutions and ideas is a significant skill future leaders will need to embody. While technical skills are important, the significance of soft skills such as leadership, social influence, empathy and active listening cannot be neglected. As stated by the World Economic Forum, these skills rank among the top 10 in the category of self-efficacy and collaboration. Developing skills in AI is not just about technological aspects. It is also concerned with examining the output generated by AI tools and building a mindset to leverage this. Conceptual understanding of AI will empower students to not only use it productively, but also evaluate and critique output professionally. Engaging students in discussions regarding the societal impact of AI, encompassing issues such as biases, privacy and ethics, facilitates the development of their ability to voice their opinions and provide constructive feedback. Students can hone their ability to evaluate and develop professional scepticism skills by broadening
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them to real-life, fast-paced, agile scenarios that require them to apply their skills in a practical setting. This allows them to gain a hands-on understanding of the world of work and core business concepts that they can incorporate in the competitive workforce. INCLUDE AI DEVELOPMENT IN PROGRAMME CURRICULA It is critical to stay abreast of AI trends to facilitate learning and assessments, as this allows for the curriculum to be reviewed and adjusted in order to encourage the fundamental integration of AI and the transformation of learning methodologies. The learning-by-doing approach, combined with awareness of trends regarding the potential of AI to support learning, will aid institutions in evaluating and modifying curricula. This will help promote and foster adoption of creative AI solutions in a course’s teaching, learning and assessment, in areas where the bene ts of using AI clearly outweigh the risks. AI solutions can facilitate well-de ned learning tasks in di erent subject areas and support the development of further tools for interdisciplinary skills and competencies. Further advanced uses of tech-enabled tools such as virtual reality (VR) and augmented reality (AR) within classrooms will enable students’ exposure to technology, while getting them accustomed to using these tech tools. Examples of VR and AR presently used in education include Blippar, Eon Reality, Google for Education, NeoBear and VRMonkey. While an integration of AI in the curriculum can bene t learning and assessment methodologies, it is essential that the trainer’s role is also regularly reviewed and redesigned if necessary, making sure trainers have competencies such as analytical thinking and innovation, instructional design and technological literacy, learning strategies and change management, ethical and moral reasoning and data interpretation. Faculty must also regularly undergo training, including professional accreditations such as Advance HE. Developing appropriate capacity- building programmes – training and development such as documenting pedagogy through teaching cases – will prepare faculty to work in AI-rich settings. USE AI TOOLS IN CAREER DEVELOPMENT PROGRAMMES Just as AI is transforming the job market, universities and colleges are beginning to harness its power to provide students with more e ective career services.
engineering and design of new technologies a ect the political, economic, social and cultural sectors. Sharing insights about recent developments in the industry and implementing measures to cope with the dynamism of these mini-industrial revolutions can help students adapt within this turbulence. COLLABORATE WITH INDUSTRY FOR EXPERIENTIAL LEARNING ELP, or experiential learning programmes, can enable students to apply theoretical knowledge of technology and AI to practical business scenarios. Within ELP, students gain the opportunity to collaborate closely with real companies, prepare consulting proposals, research, report and make recommendations to the client. The process is guided by industry experts and faculty advisors and the end result is an innovative culture that yields unparalleled insights into the global economy, assessed by rst-hand experience. Crucially, this hands-on approach encourages students to develop critical-thinking, problem-solving and team-building skills while they work on real-world business challenges. Tools such as Forage and InsideSherpa can assist students by generating fast-paced virtual internships, which allow them to gain practical skills and industry experience. Experiential learning can be extended beyond virtual internships where institutions can directly connect with senior alumni and industry professionals with expertise in technology and AI for mentorship. Mentors possess valuable experience in their elds, which helps the mentees develop a deeper understanding of the market with real experience-sharing. Furthermore, institutions can also help by setting up a founder’s lab on campus, which allows students to immerse themselves in entrepreneurial endeavours, fostering innovation and business acumen. Building clubs and organising events related to the eld of AI creates platforms for students to network, collaborate and apply their knowledge in practical contexts. Experiential learning often generates vast amounts of data. The integration of AI in ELPs can help students and institutions analyse this data to identify patterns, trends and insights, which helps them gain a deeper understanding of the learning outcomes. AI algorithms can provide valuable feedback based on data analysis, enabling students to re ect on their experiences and make informed decisions for future endeavours. The key objective of integrating AI with ELP is to enhance students’ learning experience by exposing
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NEW TECHNOLOGY
predictive analysis tools can examine vast amounts of labour market data, including job postings, hiring trends and economic indicators. Lifelong learning tools can also suggest upskilling courses, modules and certi cates by studying a candidate’s pro le, capabilities and experience. By harnessing machine-learning algorithms, educators can customise content delivery, adapt teaching strategies and o er personalised feedback to students. Such an approach can cater to individual learning needs, facilitate deeper understanding and improve overall learning and employment outcomes. EMBRACING AI TO FACE AN EVER CHANGING JOB WORLD From technical to soft skills, with AI becoming so prevalent, it is critical that students and faculty are open to its potential and willing to embrace its power. It’s not just about learning new skills; it’s also about cultivating a progressive mindset, which involves perceiving obstacles as opportunities for growth and lifelong learning. Students who adopt this perspective are better ready to overcome challenges and adapt to new conditions – critical in an ever-changing job world. This is the future where leaders are expected to take bold transformational decisions for growth, adaptability and willingness, to have a human outlook while collaborating with arti cial intelligence. In fact, the World Economic Forum recently highlighted this ‘skills- rst approach’, noting that the ability to exibly and e ciently learn and apply knowledge across situations to bridge the demand-supply gap in industry will prevail, despite many uncertainties. Moreover, learning will extend beyond traditional upskilling programmes and encompass ‘everyday learning’ in unconventional ways. This approach will nurture curiosity, encourage questioning and foster aspirations, all while being immersed in the learning process. The time to re-engineer our way of engaging and executing tasks is now, as we ride the wave of AI development; think of this technology as your personal brainstorming colleague. Through embracing the age of AI, higher education institutions can support students to leverage the endless possibilities. Of course ‘evergreen’ skills such as integrity, transparency, communication, agility, risk management, innovation and being a good listener, will continue to be important in the future. But the biggest winner will be the ability to lead through disruptive dynamics with courage, empathy and innovative thinking.
As the workplace evolves, it’s increasingly important for students to have access to the tools and resources they need to navigate the job market successfully. By incorporating AI into career development programmes, it is easier to analyse data, predict trends and o er personalised recommendations. AI-powered career services can help students nd the perfect job match. To optimise their CV, tools such as resume analysis can be used. AI tools such as Big Interview can take recorded interviews, assessing various features of the face and body language along with pitch and tone to help students nesse their screen presence skills. Students can use case study simulations to analyse the situation and choose a course of action based on the possibilities presented. AI can then identify the optimal scenario and share the results. Platforms for skill assessments identifying competitive strengths, personality traits and opportunities for development can also set out the best set of roles for an applicant based on their skills, talents and quali cations by examining an array of job roles. Through this, students gain valuable insights into the job market and learn how to promote themselves. AI-powered tools can analyse vast amounts of student data, including performance, learning preferences and progress, to provide adaptive learning experiences. In order to forecast future job prospects,
Uma Gunasilan is the associate dean of research and the chair of AI at Hult International Business School. With 25 years’ academic experience and 10 years working in IT consulting, her interests include the e ective deployment of AI and progressive academic management models
Nikhil Soi is a career development advisor at Hult International Business School. He specialises in designing impactful career development learning experiences for students that incorporate lifelong learning and the future of work, with a focus on technology-driven solutions
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Iéseg School of Management’s social and environmental impact director Maria Castillo tells Tim Banerjee Dhoul why upskilling on sustainability must begin with teaching faculty and outlines how the school aims to give students spaces to engage further in this respect
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How are you working to incorporate corporate social responsibility (CSR) and sustainable development into Iéseg’s programmes and how are you measuring the success of initiatives to implement them? “This is our number one priority for the next year. We’ve had mandatory CSR courses since 2016 and our students now have access to several such courses, but we are aiming to have full integration of sustainability into all our different programmes and management disciplines by 2026. “We can only achieve that if we train all our H professors and staff to ensure that everybody speaks the same language and understands how and why we’re doing it. In February, we launched a compulsory training programme for all our staff and professors on the basics of climate change and planetary boundaries. “The programme ends with workshops where each academic department or administrative service develops roadmaps with KPIs or ambitions for the next five years. The objective is that by the end of the first modules, professors will be rethinking their courses. We then expect this to be reflected in curricula by September 2024. Of course, tracking this without making it too bureaucratic is a key challenge and we are still thinking about the best way of doing this. “This year, we are also asking professors and staff how they integrate sustainability into their day-to-day jobs as part of their annual performance evaluation.
SUSTAINABILITY
Salaries and promotions depend on these evaluations, so I think it sends a very strong signal in terms of the importance the school places on sustainability.” How has reaction to the programme been from staff and faculty? Are they concerned about the perceived implications for their workload? “We’ve had a few challenges and there has been some resistance. However, this has been from a minority and ultimately, we’ve been surprised by the positive reaction. We’ve also found that people have already started integrating some of these topics and conversations into their courses. Of course, we still need to help some of these faculty members do it in a more coherent, transversal way. “The question of the added workload was definitely raised, but we’ve tried to have more one-on-one conversations with those who were more sceptical initially. At the same time, a lot of faculty members are happy to learn more about the climate and planetary boundaries because it’s something they’re starting to see more and more in their own field and research.” Earlier this year, you took part in a panel on upskilling for a sustainable future as part of Economist Impact’s Sustainability Week. Could tell us what you spoke about? “I was speaking about the growing need to upskill and retrain managers, leaders and students. Specifically, how companies and higher education institutions can work in a collaborative fashion to drive this upskilling process. Companies have set very ambitious goals related to net zero. But without the right educational process, we won’t be able to achieve those goals.” Who do we need to get in the classroom? “We need to get everyone in the classroom. It needs to start with the governance and leadership because these changes cannot take place without them being on board. However, to drive change and achieve these goals, every single person in a company needs to go through this process. We also need to touch on every kind of job and industry and that’s a huge challenge.” How do you envisage collaborative processes working between schools and companies? “Sometimes companies forget that business schools are also there to help them drive transformation and
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