Ambition is AMBA’s thought leadership magazine, offering regular insights into the challenges and trends that matter most in global management education
Ambiti n The magazine of the Association of MBAs (AMBA) BE IN BRILLIANT COMPANY
Issue 4 2025 VOLUME 82
Imperial dean Peter Todd on helping MBA cohorts make an impact The intersection of excellence
BRING ON THE BUSINESS SCHOOL CLASS Inside AMBA’s annual global conference
LEADERSHIP PRIORITIES IN FLUX Telfer report shows profit eclipsing purpose
RIPPING UP THE RULE BOOK How Gen Z preferences are shaping the future of work
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ISSUE 4 • 2025 • VOLUME 82
NEWS & INS IGHT
REGULARS
07 | EDI TOR’ S LET TER The need for more skills-based approaches to work was among the standout takeaways at this year’s AMBA & BGA Global Conference 44 | OP INION Edhec’s Geneviève Houriet Segard on the aspirations and values of Gen Z – plus how the youngest cohort of students is set to upend the world of work 46 | VIEW FROM THE TOP CEO Andrew Main Wilson discusses new AMBA & BGA research on the top challenges facing today’s deans and directors
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08 | BUSINESS BRIEFING Updates from AMBA-accredited schools based in China, France, Chile, the UK, Australia and the US, including research on whether the presence of professors on company boards actually impacts CSR performance and why we need to address systemic issues in supply chain practices to curb food loss and waste 38 | TAKING CENTRE STAGE How the AMBA-award winning SmartStage at Warwick Business School uses extended reality technology to transform online programme delivery, helping its offerings stand out from the crowd and showcasing its desire to enhance engagement
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18 | BUILDING BRIDGES An in-depth report on all the key speakers, topics and talking points as more than 300 leaders from the global business school community came together in Berlin for the AMBA & BGA Global Conference 2025 GLOBAL CONFERENCE
Ambition • ISSUE 4 • 2025 3
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ISSUE 4 • 2025 • VOLUME 82
FEATURES
32 |A NEW DIRECTION IN DECISION-MAKING Reflections on what happens when society moves beyond the current concept of leadership, penned by IEDC-Bled School of Management’s Pierre Casse, along with a philosopher and an economist as co-authors
12 | COVER STORY IN CONVERSATION WITH... PETER TODD The Imperial Business School dean elaborates on the importance of being “useful” and explains why students must learn to leverage their human advantage when it comes to using AI
34 | CRACKING CRYPTO’S CODE
Larisa Yarovaya and Peter Rodgers describe the development of a cryptocurrency module and fintech pathway on the MBA programme at Southampton Business School
28 | THE COMPETENCY CONUNDRUM How an annual survey of business leaders conducted by Telfer School of Management’s executive MBA has challenged long-held assumptions over the most sought-after skills
Ambition • ISSUE 4 • 2025 5
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EDITOR’S LETTER
CONNECTING THE DOTS
EDITORIAL Head of editorial Colette Doyle c.doyle@amba-bga.com Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com
It is essential that we employ joined-up thinking to equip today’s business students for tomorrow’s world
W
Art editor Sam Price Sub-editor Heather Ford
hat do a skills-based approach to work, the importance of AI in higher education and the need for business schools to partner with industry have in common? These were all key takeaways from this year’s AMBA & BGA global conference, recently held in Berlin and reviewed in this issue. Analytical thinking was identified by Essec dean Vincenzo Vinzi as the top skill sought after by employers, according to the World Economic Forum’s latest Future of Jobs Report . The same study showed that some 63 per cent of companies complain about the mismatch between the available expertise and their needs. The Essec dean highlighted key emerging skills such as cybersecurity, environmental stewardship and sensory-processing abilities as essential for MBA graduates. GMAC CEO Joy Jones referenced research showing that skills such as strategic thinking and problem-solving are considered to be more important than ever before, given how quickly organisations are adopting new technologies. In his session, ESMT president Jörg Rochell urged schools to grasp the opportunity “to equip future leaders with the skills they will need to navigate the challenges of tomorrow”, while Cappfinity’s Abi Parker noted that demand for green and AI skills tripled from 2017-2023 and doubled for broader digital skills during the same period. When it comes to AI, education is one of the few key sectors in which the technology creates an outcome for the customer that is “not only more efficient, but vastly superior”, maintained Kunal Saigal of the IU International University of Applied Sciences. Olivier Malafronte, a lecturer at the Côte d’Azur University, revealed that students who actively engaged with an AI coach on two courses involving business simulations significantly outperformed those who did not. Looking at the benefits of academia-industry partnerships, Kevin Ellis, a former senior partner with responsibility for EMEA at professional services firm PwC in the UK, told delegates that organisations must collaborate with business schools “to attract the best talent”. One hugely successful example of such a partnership was showcased by the University of Edinburgh Business School and UK bank NatWest Group. Representatives from both institutions discussed this award‑winning project focused on internal climate education and cultural transformation.
Insight, content and PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Membership director Victor Hedenberg v.hedenberg@amba-bga.com
Head of membership Debbie Kemp d.kemp@amba-bga.com
Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
Head of marketing and communications Leonora Clement
Senior marketing executive Edward Holmes
Head of IT and data management Jack Villanueva
Colette Doyle , Editor, Ambition
Head of events Carolyn Armsby
THIS MONTH’S CONTRIBUTORS
HR and employer relations manager Aarti Bhasin Finance and commercial director Catherine Walker
Chief executive officer Andrew Main Wilson
PIERRE CASSE
GENEVIÈVE HOURIET SEGARD
DAN PEARSON
GREGORY RICHARDS
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com ACCREDITATION ENQUIRIES accreditation@amba-bga.com
PETER RODGERS
PETER TODD
LARISA YAROVAYA
Copyright 2025 by Association of MBAs and Business Graduates Association ISSN 2631-6382 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, AMBA 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 AMBA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. AMBA 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.
Ambiti n
Ambition • ISSUE 4 • 2025 7
BUSINESS BRIEFING
All the latest updates from across AMBA’s global network
Featured among the latest selection of updates from AMBA-accredited schools is a look at how diversity campaigns can sometimes backfire on brands, the main challenges currently faced by businesses in Chile and what can make female CEOs resort to taking big risks. Tim Banerjee Dhoul and Ellen Buchan report
BUSINESS PROFESSORS BEHIND OTHER ACADEMICS FOR BOARD IMPACT ON CSR
SCHOOL : Essec Business School COUNTRY : France
The presence of a professor on a company’s board has been found to positively impact its CSR performance, but not if they are a professor of business. This intriguing finding comes from a study led by Essec Business School’s Charles Cho, published in the Journal of Business Ethics . Academics have become popular choices for board members, with at least one professor on the board at more than 38 per cent of Standard & Poor’s 1,500 firms, according to the study. It reasons that this may be because academics are believed to bring higher standards of professional ethics to the table, through their sense of responsibility as educators towards citizens, future generations and the community. The study sought to determine whether this perception translates into tangible impact, drawing on an analysis of RiskMetrics data over the period 2003-2011. Its results showed a significant and positive association between the presence of academic board members and a firm’s CSR performance ratings. In addition, increasing the number of
professors on a board improved the strength of the ratings. However, these effects were only in evidence when board members were academics from certain disciplines, including engineering, science and medicine. Business professors did not appear to affect the ratings scrutinised. Furthermore, academic board members who also held an administrative role at their institution were found to exert less influence on a firm’s CSR performance. In the study, business professors’ comparatively poor showing is linked to an outdated paradigm that neglects the importance of corporate accountability and the need to train responsible managers. It therefore calls for business schools to continue their shift towards embracing CSR and sustainability issues. Professors on the Board: Do They Contribute to Society Outside the Classroom? was co-authored with researchers at KAIST College of Business, Korea Advanced Institute of Science and Technology (KAIT) in Seoul. TBD
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NEWS & INSIGHT
A new study from the Faculty of Administration and Economics at Universidad Diego Portales (FAE UDP) reveals the main challenges facing businesses in Chile and the internal response capabilities at their disposal. Among 208 surveyed directors, general managers and senior executives from an array of industries, regulatory and legal changes (37 per cent) and market risk, encompassing inflation and interest rates (35 per cent) topped the list of current concerns in the 2025 Business Risk Perception Study . “In times of political uncertainty and regulatory changes, global tensions and technological challenges, Chilean companies must demonstrate that resilience and adaptation are their greatest strengths. Each identified risk is also an opportunity to innovate, strengthen governance and build a more sustainable business future,” declared FAE UDP dean Mauricio Villena. Artificial intelligence (AI) offers one case in point. While 41 per cent of respondents said that AI amplifies certain emerging threats for their business, 49 per cent said they viewed it as a useful tool in risk management. However, potential benefits don’t translate into tangible impact automatically and there is recognition that processes of digital transformation must be accompanied by security efforts, with 62 per cent saying their companies are now more exposed to sophisticated cyberattacks. For this reason, it is perhaps no surprise to learn that 65 per cent of the study’s surveyed companies have risk management policies aligned with their strategy and 46 per cent have established risk committees. Even so, a significant 12 per cent of respondents indicated that their organisations had faced a risk event in the last year without a formal policy to manage it. The study was conducted by the UDP Economic Context Observatory at FAE UDP in collaboration with the Association of External Auditors of Chile, as part of the school’s bid to bridge academia and business by producing practical, applied knowledge for industry. TBD RISK MANAGEMENT CAPABILITIES IDENTIFIED IN STUDY OF TOP CHALLENGES SCHOOL : Faculty of Administration and Economics Universidad Diego Portales COUNTRY : Chile
Although brands are increasingly under pressure to champion diversity, equity and inclusion (DEI), initiatives can sometimes instigate a backlash if they feel irrelevant or inauthentic to their customer base. That’s the key finding of new research from Durham University Business School. Led by assistant professor of marketing Miriam McGowan, the study examined a wide variety of diversity initiatives, differing in duration and target groups, to determine their impact on customer loyalty. It identified that long-term initiatives aimed at groups with whom existing customers dissociate triggered negative reactions, such as brand avoidance. These reactions stem from customers perceiving the initiatives as threats to their identity and betrayals by the brand. McGowan suggested that brands “must carefully manage customer perceptions to avoid alienating their existing customer base. Not every awareness day fits every brand, but for companies in sectors like beauty, fashion or lifestyle, supporting Pride Month or International Women’s Day, for instance, can reflect customer values and show authentic commitment. It’s not just about showing up but showing up meaningfully”. For this reason, the researchers emphasise the importance of ensuring that genuine social commitments are communicated clearly to help build trust and dispel notions that a brand is merely jumping on a bandwagon. In addition, it suggests that brands can reduce the risks of customer alienation by using sub-brands to allow product customisation. The study also notes that many brands choose to play it safe by opting for short-term DEI initiatives, even if it is the longer-term initiatives that have greater potential for meaningful change. The research was published in the Journal of the Academy of Marketing Science and co-authored with associate professor of marketing at Birmingham Business School Louise Hassan and Edward Shiu, a marketing professor at Bangor Business School. EB WHEN DIVERSITY CAMPAIGNS COME WITH A RISK OF CUSTOMER ALIENATION SCHOOL : Durham University Business School COUNTRY : UK
Ambition • ISSUE 4 • 2025 9
FOOD WASTE LINKED TO SYSTEMIC SUPPLY CHAIN PRACTICES
SCHOOL : QUT Business School Queensland University of Technology (QUT) COUNTRY : Australia
Supply chain practices could be contributing to food loss and waste, according to a study from QUT Business School. The study examined a range of supply chain dynamics in Australia, including contracting, data transparency and overproduction, to determine potential influence on food waste outcomes. In so doing, the study authors carried out interviews with supply chain stakeholders and delved into potential solutions, with a primary focus on the horticulture and bakery sectors. It found that a number of systemic issues, such as market imbalances, a lack of transparency and limitations in regulatory codes, are contributing to inefficiencies and surplus food that often goes to waste. “These are everyday practices that have become normalised in our food system but they’re quietly fuelling waste at a massive scale and they’re contributing to a system where food is grown, harvested and then discarded – not because it’s inedible, but because of how business is done.” said study lead and QUT associate professor Bree Hurst. However, the report also suggests that a combination of industry and government action could reduce Australia’s total food waste by 470,000 tonnes over 10 years, based on modelling from the country’s 2021 National Food Waste Strategy Feasibility Study . The necessary steps to achieve this figure include bans on unfair trading practices, mandatory improvements to industry codes and better data transparency. “By developing an understanding of how and why trading practices are impacting food loss and waste and identifying who has the power to affect change, we hope to help mitigate their impact,” added Hurst. Understanding How Trading Practices Affect Food Loss and Waste in Australia was produced and published in collaboration with the End Food Waste Cooperative Research Centre. TBD
A new study has shown that when a critical mass of audience numbers is reached on synchronous online content platforms it inhibits user participation, rather than increasing it. The study found that when large numbers join streaming platforms, such as Twitch and YouTube Live, the experience starts to feel erratic, with lots of people talking about different things. This can make people disengage from the conversation and create an emotional polarity that further diminishes the desire of participants to continue. “There is a limit when everyone is trying to shout in the channel. It’s like someone is taking an online class and every student is trying to ask a question and shout at the teacher in the Zoom chat. It’s probably not going to work very well,” suggested study co-author and associate dean for research at Miami Herbert Business School Kevin Hong. Entitled Lost in the Crowd: How Group Size and Content Moderation Shape User Engagement in Livestreaming and published in Information Systems Research , the study drew on data from 7,074 Twitch playbacks and accompanying chat history. “Researchers have been studying asynchronous content platforms for the last 20 years. The synchronous platforms have only started to emerge in the past few years, so there’s limited understanding of them,” clarified Hong. The study then considered how issues caused by overcrowding on livestreams can be negated with the use of moderators. While human moderators can help deal with some surges of comments and interactions, particularly in relation to any polarity of opinion, Hong reasoned, they would be unable to deal with large numbers of people. The ensuing suggestion is that AI bots could be the way forward. While the Miami Herbert associate dean admitted that the current functionality of AI bot moderators is somewhat limited, he believes they are getting better, making them a good option to help enhance livestreaming experiences. EB LOST IN THE DIGITAL CROWD: THE LIMITS OF LIVESTREAMING SCHOOL : Miami Herbert Business School University of Miami COUNTRY : US
10 Ambition • ISSUE 4 • 2025
NEWS & INSIGHT
HOW GENDER STEREOTYPES COMPEL FEMALE CEOs TO BE MORE AGGRESSIVE IN BUSINESS ACQUISITIONS SCHOOL : International Business School Suzhou, Xi’an Jiaotong-Liverpool University COUNTRY : China
There is a perception, corroborated by some prior research, that female CEOs are less likely to take risks and therefore don’t engage in as many acquisitions as their male counterparts. The conventional interpretation here is that female CEOs tend to be more cautious than male leaders. However, there are many high-profile cases to challenge this supposition, such as former Yahoo CEO Marissa Mayer, who executed 53 acquisitions between 2012 and 2015, or Carly Fiorina of Hewlett-Packard, who led a landmark mega-merger with Compaq in 2001. In this context, new research involving International Business School Suzhou (IBSS) at Xi’an Jiaotong-Liverpool University (XJTLU) offers an altogether different perspective. It states that gendered stereotypes of leadership make female CEOs more likely to engage in acquisitions and risky strategies than men. The reason, it suggests, is that they are seeking to gain support from their peers and subordinates by adopting a bold and stereotypically male approach. The counter-stereotypical behaviour was found to be particularly pronounced in
environments with stronger gender stereotypes, where female CEOs are more likely to be perceived as undeserving of their positions. In this way, the study demonstrates that female CEOs are not solely influenced by their own personality traits, but also by the social context in which they live. It also underlines the need to address stereotypes that push women leaders to engage in counter-stereotypical behaviours. Recommendations from the study include investing in more equal boards and top management teams, as well as rethinking how their current composition might be impacting on decision-making processes. Entitled A Counter-Stereotype Perspective on Female CEOs and Acquisition Intensity , the study was published in the Journal of Business Research . It was co‑authored by Shili Chen from the IBSS’s Department of Strategic Management and Organisation. EB
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA content editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
Ambition • ISSUE 4 • 2025 11
In conversation with… Peter Todd
Appointed dean of Imperial Business School last September, Peter Todd talks to Ambition editor Colette Doyle about the importance of creating mindful, forward-thinking leaders and why the world will always need “useful” people
Tell us about your background and how you came to take up the role at Imperial Business School “I’m an accidental academic. I’m a first-generation university student – my academic journey began at McGill University in Canada. Before that, I had a few jobs, including one at a cement plant in British Columbia – an experience that, I expect, grounded me in the realities of work. It also helped me pay my way through school. “I was lucky as a young academic to work at great universities in Canada and the US with excellent mentors and role models. Since then, I’ve had the privilege of holding leadership roles across North America and Europe, including serving as dean at HEC Paris before coming to Imperial. “What drew me to Imperial was its unique position as a great business school embedded in one of the world’s leading STEMB (ie STEM plus business) universities – and the only school of that type in Europe. That intersection of science, technology and business is incredibly powerful. I saw an opportunity to help bridge those worlds, to bring business thinking into scientific innovation and help Imperial bring science to humanity. “I’ve found that the culture here, which incorporates a focus on excellence with a desire to be useful, has only deepened my belief that this is a place where we can do something truly distinctive to address global challenges.” What have been some of the highlights of your career to date? “I’ve been fortunate to work with some truly remarkable institutions and people. Leading HEC Paris through a period
of transformation was certainly a highlight, as was overseeing the launch of a major fundraising campaign while there. “What I find most rewarding is helping build institutions that matter – places that are academically rigorous but also connected to the world around them. Whether it’s launching new interdisciplinary initiatives, enhancing programme portfolios, or mentoring students and faculty, the greatest reward is to help people make an impact. “Now, at Imperial, I see the opportunity to take that to another level: it’s an institution that was founded with the explicit mission to “be useful”. With its critical mass of STEM expertise, coupled with the deep and engaged knowledge of its business school, it is poised to provide important answers to grand challenges such as climate and sustainability and the impact of AI, as well as the creation of healthy and resilient societies. “A great example of this is the work being done through our Centre for Health Economics & Policy Innovation, which brings together world-class research to inform better healthcare policy and delivery. It’s this kind of impact-driven, interdisciplinary work that makes Imperial such a powerful platform for change.” Do you believe that in the 21st century, with the rise of alternative providers such as LinkedIn and Coursera, the MBA is still able to stand out and distinguish itself in the marketplace? “Absolutely. The MBA remains a powerful and relevant qualification, but it must continue to evolve. At Imperial, we already offer a distinctive MBA programme that reflects our
12 Ambition • ISSUE 4 • 2025
INTERVIEW WITH THE DEAN
BIOGRAPHY
Peter Todd is dean of Imperial Business School and an expert in information technology, innovation management and technology strategy. His 20-plus years of senior leadership experience include periods as dean of HEC Paris and McGill University’s Desautels Faculty of Management. At Imperial Business School, Todd drives innovation, entrepreneurship and digital transformation across research and education. He holds a PhD from the University of British Columbia and has more than 40 published works and 40,000 citations to his name. He is committed to shaping the future of inclusive business education and driving research that connects science and business to economic prosperity and societal wellbeing.
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make a difference – they’re seeking purpose. That means we, as educators, need to give them the tools to think critically, collaborate effectively and adapt to uncertainty.” We hear so much nowadays about diversity and inclusion, as well as the concept of ‘belonging’; how can schools best train the next generation of managers and entrepreneurs to implement DEI practices in a responsible manner? “Diversity isn’t just a value; it’s a strategic imperative. What I have come to appreciate over time is that every institution I have been a part of has become more diverse and, through that, has become better. Imperial is the UK’s most international university, so we’re an embodiment of the advantages brought about by diverse perspectives. We
strengths as a world-leading STEM university. It’s designed to develop mindful, forward-thinking leaders who are equipped to navigate an increasingly digitalised and complex business world. It also adapts to the needs of different learners with full time offerings, a weekend programme and, of course, our world-leading global online MBA. “What we’re focused on now is enhancing that distinctiveness, deepening the integration of technology, innovation and sustainability into the learning experience. We’re also working to embed the programme more fully across the university, strengthening alignment and collaboration with our STEM faculties. That cross- disciplinary ambition allows us to bring even more of Imperial’s scientific and technological expertise into the MBA, enriching the experience and ensuring it reflects the science-dominated
need to continue to shape environments where people feel they belong, where they’re respected and where they can thrive. “That starts with culture. Culture isn’t built through grand statements; it’s built through daily actions, through how we treat one another, how we collaborate and how we lead. Our role as educators is to model inclusive leadership and to equip our students with the mindset and skills to build inclusive organisations of their own.”
context in which businesses themselves are operating. “We’re not trying to replicate what others are doing, we’re doubling down on what makes us unique: a rigorous, cross-disciplinary education with a strong science, innovation and entrepreneurship edge that prepares students to lead with purpose and impact in a rapidly changing world.” How has management education evolved since you started teaching at Queen’s University in Canada in the late 1980s? “Dramatically. When I started, you were in a classroom the whole time – or, at least, it felt like it –
What has becoming AMBA-accredited
meant to your school? “AMBA accreditation is an important marker of quality and global recognition. It affirms that our programmes meet rigorous international standards and that we’re committed to continuous improvement. But more than that, it aligns with our ambition to be a top-tier, globally relevant business school. “The process itself is constructive. It’s not just about meeting criteria; it’s an opportunity to benchmark ourselves against other leading institutions, to learn from our peers and to reflect on how we can continue to improve. We find the feedback from accreditation panels extremely valuable, while our faculty who serve as panel members at other schools also gain a great deal from seeing examples of best practice in different contexts. It’s a two-way learning process that strengthens the entire sector.”
Imperial College has grown across several campuses as it has expanded to become a top-tier, globally renowned institution
you focused on your chosen discipline and you thought about things in terms of traditional business functions. “Today, half the time, you’re trying to get students out of the classroom, interdisciplinarity is seen as a strength – especially at somewhere like Imperial, for all the reasons I’ve mentioned – and everybody kind of expects that functions will evolve. “In more practical terms, there’s also been a big shift towards project-based learning by doing; today’s students are digitally native in a way they generally weren’t in the 1980s, plus there’s a much greater emphasis on societal impact. Students are no longer just looking for jobs – far more often than they were, they’re looking to create them. They want to
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INTERVIEW WITH THE DEAN
The impact of AI and other generative algorithms such as ChatGPT on postgraduate management education has been well documented – what’s your take on it at Imperial? “AI is already reshaping how we teach and how students learn, as well as how institutions operate; we’re embracing that change even if, like many, we’re still finding our way. The real opportunity lies not just in adopting new tools, but in rethinking how we design learning experiences and integrate AI. If today’s students are digitally native, tomorrow’s must be AI-native. AI challenges us to adapt our teaching and assessment methods to reflect the changing complexities of the world. But, more importantly, we need to help students use the technology to leverage their human advantage. “We’re building AI into our programmes in ways that enhance, rather than replace, human judgment, creativity and collaboration. It’s about preparing students to lead in a world where AI is part of the toolkit, but where ethical reasoning, critical thinking and the ability to explain our decisions remain essential. “We’re also exploring
“Importantly, our work aligns with the university’s broader ambitions through the Sustainable Imperial strategy and our new School of Convergence Science for Sustainability. Imperial is committed to becoming a global leader in sustainability, with a roadmap to reach net-zero carbon emissions by 2040 and a focus on embedding sustainability into every aspect of university life – from research and education to campus operations and community engagement. As a business school, we play a key role in that mission, helping to translate scientific discovery into real-world value.” Your career has spanned positions in North America, continental Europe and now the UK; is management education truly global or have you encountered different issues in each region? “Management education is increasingly global in its aspirations, but it’s still shaped by local context. Each region brings its own challenges and opportunities: regulatory frameworks, cultural expectations, institutional structures. What works in one place doesn’t always translate directly to another.
how AI can support our own operations: streamlining processes, improving feedback and helping us better understand student needs. But ultimately, our approach is grounded in the belief that technology should serve education, not the other way around.”
“That said, the core mission of any business school is the same: to prepare leaders who can lead with purpose, navigate complexity, drive innovation and create value. My international experience has taught me the importance of adaptability and the value of diverse perspectives. At Imperial, we’re fortunate to have a truly global student
The college boasts a rich history of learning, with a unique blend of expertise in STEM subjects and business that sets its offer apart
The topic of sustainability has been embedded into MBA programmes around the world; how integral is it, do you think, to the concept of leadership? “Sustainability is no longer a peripheral concern; it’s central to the very idea of leadership in the 21st century. It’s embedded in our research, our teaching and our operations. We offer a dedicated MSc in Climate Change, Management & Finance that continues to evolve; in recent years, we’ve added new modules on shareholder activism and sustainable consumption among others. “Our MBA global experience weeks regularly include sustainability-focused projects, from working with entrepreneurs in Cape Town to studying climate transformation in the Nordics. Our research centres, including the Centre for Climate Finance & Investment, the Leonardo Centre on Business for Society, the Gandhi Centre for Inclusive Innovation, our Centre for Responsible Leadership and the Centre for Health Economics & Policy Innovation, are helping shape global thinking on climate finance, corporate sustainability and inclusive innovation.
body and faculty that enriches everything we do.”
With all the economic and geopolitical upheaval that the world is currently facing, do you believe there is still room for optimism when it comes to the future of the global business school sector? “Absolutely. In fact, I think this is a moment of great opportunity for business schools if we are willing and able to adapt. The world needs leaders who can navigate uncertainty and bridge disciplines. At Imperial, we’re very well positioned to do just that. Our place within a world-leading STEM university gives us the tools, colleagues and insights needed to tackle big problems – plus the platform to make a difference. That’s what brought me here. “I’m optimistic because I see students who come to us motivated by the changes you mention. I see how our faculty are engaged with those same considerations – in their research, in their teaching and in how they deliver both. Like I said initially, Imperial was founded with the mission to “be useful” and the world will always need useful people.”
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Student expectations on AI go beyond efficiency, as they seek its support to innovate and lead with purpose. GMAC director Nalisha Patel explains why business schools that co-create solutions with students and faculty will lead the way Meeting the moment
“We also see that in some countries, such as the US and parts of Europe, young professionals are viewing GME as a strategic step in a changing job market, especially as artificial intelligence (AI) transforms the nature of work. Whether this trend continues will depend on geopolitical factors, cost-of-living pressures and how schools position their international value proposition. It’s a reminder that mobility is no longer predictable and that it is not only about crossing borders, it’s also about access, relevance and timing.” How do students want business schools to use AI and how might this guide strategy? “Students are pragmatic and purposeful in how they want AI to be used in their education. Our research shows that they’re open to it enhancing their learning journeys, through adaptive platforms, intelligent feedback and more tailored content. But they also want the skills to apply AI meaningfully in the real world, especially in complex business and social challenges. “This expectation reshapes how schools should approach AI adoption. It’s not just about integrating the latest tools, it’s also about fostering digital fluency, ethical awareness and systems thinking. Students want to be equipped to use AI not only to optimise operations, but also to lead responsibly, drive innovation and contribute to solving urgent issues, from sustainability to inclusive growth.”
How are motivations and expectations changing among candidates for graduate management education (GME) worldwide? “Across the globe, candidates are approaching GME with a different lens to what we have seen historically; a lens that combines growing financial pressures, greater emphasis on personal values and the profound influence of technology on the way humans live. Today’s prospective students are purpose-driven and acutely aware of the speed of change. They want education that aligns with their sense of identity and can prepare them for the uncertainty they have become accustomed to. They’re asking deeper questions, such as: ‘How do I really impact change and will this programme empower me to do that?’ and ‘Does this school align with my values on sustainability or social impact?’ or ‘How can I make sure I have the toolkit to prepare for the unknown world of the future?’. “Flexibility and immediacy are also key, with Gen Z particularly expecting access to hybrid learning, digital tools and career support that feels both personalised and agile. The traditional value proposition of a business degree –prestige,
network and return on investment – still matters, but candidates are increasingly evaluating these through a broader lens that includes mental wellbeing, social relevance and ethical leadership. Business schools demonstrating authenticity and transparency in these areas are resonating most.” Your latest Application Trends Survey found a notable increase in graduate business school programmes between 2023 and 2024, but one largely driven by growth in domestic applications in many regions, rather than international ones. Why do you think this is and do you expect this trend to continue? “The rise in domestic applications is a reflection of several converging dynamics. Economic uncertainty and the rising cost of living have made some candidates more cautious about relocating internationally, especially in regions where visa policies or job market conditions are in flux. In parallel, many institutions have improved local accessibility, whether by expanding regional campuses, increasing online options or tailoring programme offerings to domestic market needs.
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GMAC research entitled AI in Business Education referenced an AACSB survey in which deans displayed more optimism over the adoption and acceptance of Generative AI (GenAI) by their community than faculty members. Why do you think this might be? competitiveness. They’re thinking about how GenAI can support programme evolution, operational efficiency and market positioning. Faculty, meanwhile, are more immersed in the day-to-day reality of teaching and assessment, where the disruption feels more immediate and personal. Concerns around academic integrity, workload and pedagogical fit are understandably more pronounced among faculty. They’re grappling with how to integrate GenAI without compromising educational quality or creating new inequalities in the classroom. Bridging this gap requires dialogue, professional development and inclusive decision-making because faculty buy-in is essential to making GenAI adoption both ethical and effective.” How can business schools get around some of the barriers and resistance to GenAI identified by GMAC’s study? “The key lies in building trust and capability. “Deans have a wider strategic view of institutional innovation and external Resistance often stems from a lack of familiarity or support, so schools need to invest in training that’s accessible, relevant and ongoing. Creating safe spaces for experimentation, where faculty and staff can test GenAI tools in low-stakes environments, can also help shift the culture. “Institutional championing and clarity around policies and ethical frameworks are vital. When educators feel supported by clear guidelines and leadership, they’re more likely to engage proactively. Importantly, successful adoption isn’t just about technology, it’s also about change management. Schools that listen to their faculty and students, acknowledge their concerns and co-create solutions will lead the way.” Your AI study encompassed case studies from six different institutions. What stood out most to you among these examples of the technology’s current uses? “What stood out most was the variety of entry points and the creativity schools are showing.
From experimenting with AI-powered feedback in written assignments to using GenAI for student wellbeing interventions, institutions are not merely thinking about AI in terms of cost-saving, but rather as a tool for pedagogy, inclusion and engagement. “One compelling example was a school using GenAI to simulate real-world business scenarios that students could interact with, bridging the gap between theory and practice. Another was using GenAI to support neurodiverse learners through personalised scaffolding. These case studies reminded us that AI isn’t one-size-fits- all. The institutions leading the charge are those that align AI use with their unique mission, culture and student needs.” How might changing approaches to learning assessment within business schools impact on the GMAT test? Would you ever consider integrating an element of GenAI prompt engineering, or a critical assessment of AI‑generated outputs and biases, into the test? “As assessment models evolve to emphasise applied learning, collaboration and real-world problem-solving, admissions tests like the GMAT are adapting in parallel. The modifications we made recently to the test were already a further move away from rote memorisation, instead emphasising analytical reasoning, decision-making and data literacy. These are all core competencies for today’s workplace, as well as being essential where AI is concerned. There are many amazing opportunities coming from the technology but it is crucial that humans can still think critically and analyse their own data sources, not just what has been presented by a large language model. “Looking ahead, there is an expansive set of possibilities to evolve the test further to reflect the increasing integration of AI into professional life, including those you mentioned. That said, any future development must be grounded in rigorous psychometric research and fairness across global populations, which takes time, alongside more data on how businesses integrate AI. “We’re committed to ensuring the GMAT remains not only a valid predictor of academic success, but also a signal of readiness for a world in which human and artificial intelligence increasingly intersect.”
“AI adoption isn’t just about integrating the latest tools, it’s also about fostering digital fluency, ethical awareness and systems thinking”
Nalisha Patel is regional director for the Americas and Europe at GMAC, where she is responsible for the organisation’s overall strategy in promoting the regions as business education destinations and building diverse pipelines of talent there. Patel has more than a decade of experience in graduate management education, including serving as executive director of degree programmes and student experience, as well as a governing body member, at London Business School
www.gmac.com
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Berlin provided the perfect backdrop as top business school leaders came together to delve into the latest developments in the world of higher education
The recent AMBA & BGA Global Conference, held this year in Berlin, elicited a number of compelling talking points, including the importance of a skills-based approach to education, how new technologies are shaping the world in a time of immense disruption and why business schools must redefine their role in order to create a better future for everyone. Colette Doyle and Tim Banerjee Dhoul report Building bridges in the business school community
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AMBA & BGA GLOBAL CONFERENCE 2025
T he challenges associated with younger employees no longer being able to learn from a human manager, as that function is gradually being replaced by AI, was one of the key points made by the conference’s first speaker, Kevin Ellis. The trend nowadays is “to reduce the training budget and redirect it to technology”, according to Ellis, who is a former senior partner with responsibility for EMEA at professional services firm PwC in the UK. He emphasised the importance of attending the office, where younger members of staff can “learn from watching others and building relationships with them”. He cautioned that “flexibility is required on both sides”, hailing the solution of the hybrid model of working, with employees having two days a week at home. Ellis said he believed that business schools should offer a greater number of executive education courses, along the lines of an advanced management programme. In his opinion, the growth spurt in the Middle East has led to a demand for consulting and financial services, with those taking part in an exec ed programme likely to “move faster up the career ladder”. The former PwC executive advocated for a shift from a linear career to a more flexible and multi-faceted portfolio model, emphasising that a modern MBA should be designed to prepare students for this new reality. “Joint-sponsored degrees are the way to go”, he declared, adding that as “generalists will be squeezed out, graduates need to specialise”. He also warned that since the primary skills needed to succeed at business schools in five years’ time will not be the same as at present, “learning capability” is crucial. He noted that industry must partner with business schools “to attract the best talent”. Moreover, he was at pains to point out that – despite the inexorable rise of new technologies – “human contact [in the workplace] is still essential”. AI coach benefits both students & instructors Olivier Malafronte, a lecturer at the Côte d’Azur University, revealed that students who actively engaged with an AI coach on two courses involving business simulations outperformed those who did not. In an illuminating exploration of data gleaned from a year of using the tool, Malafronte said that the top topic of discussion between 86 students and the AI coach related to soft skills – specifically classmate interactions in the group‑based simulations. However, students also identified gaps in their technical knowledge, allowing Malafronte to tweak his teaching and ensure areas of difficulty were covered. The AI coach, developed by Cesim, has been available to more than 4,000 instructors since its launch last year, of which around 1,300 have made use of the tool. This means that approximately 68 per cent did not use it at all. Cesim CEO Veijo Kyosti said that while this sends “a clear signal that we still have a lot of work to do”, the number of adopters is on the rise:
“We see more and more super users inside business schools who have been using it and creating a followership. They know how the systems work and they are getting good results out of it.” Living in a time of disruption once again ESMT president Jörg Rocholl began his presentation by reminiscing on how he had first come to Berlin as a high school student in 1989, just six months before the fall of the infamous wall that divided Germany into East and West. Rocholl recalled the disruption that Berlin has lived through in terms of German reunification and declared that society is “again living through disruption in these times”. He elaborated on this by adding: “Technological advances and the use of AI have been a real revolution, creating new ways of how humans interact.” The ESMT president urged schools to grasp the opportunity “to equip future leaders with the skills they will need to navigate the challenges of tomorrow”. He noted that they will have to “embrace an entrepreneurial and disruptive way of thinking” to become “change-makers of the future”. Rocholl highlighted the increasing expectation for corporates to play a meaningful role and be involved in societal impact, providing, as an example, ESMT students going out to local communities to take up hands-on challenges, such as reorganising a paper recycling factory in Ethiopia. He called for more “global interaction to benefit the planet” and implored business school leaders to inspire students to become involved in such activities. Rocholl recommended that students be encouraged to engage in debate on current affairs and challenge world leaders at events such as the Berlin Global Dialogue. He remarked on how last year France’s President Macron took part in the conference, interacting with ESMT students and discussing their ideas on topics such as navigating geopolitical fragmentation and accelerating the green transition. He ended by advocating for business schools to take charge of shaping the future of society: “In this period of change, business schools must engage with those who will drive this change – and translate it into actionable items”.
ESMT Berlin president Jörg Rocholl called on business schools to equip their students to be agents of change
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