Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.
ISSUE 1 2026 VOLUME 29
THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION (BGA)
LEADERS NEVER STOP LEARNING
Beyond compliance How an ESG ecosystem is tipping the scales in favour of systemic change
• FLEXIBLE THINKING: COMBATTING RIGIDITY TO STRENGTHEN CREATIVITY • THE AGE OF CO-CREATION: PREPARING STUDENTS FOR AN AI-DRIVEN ECONOMY • WHEN DIGITAL DELIVERS: MASTERING THOUGHT LEADERSHIP ON SOCIAL MEDIA
INSIDE
AMBA & BGA WORKSHOPS IN INDIA
+ NEW BGA ACCREDITATION MASTERCLASS
I n February, AMBA & BGA is hosting two capacity-building workshops in India. In Mumbai, the focus will be on responsible management & positive impact, while hybrid & online education will lead discussions in Hyderabad. The inaugural BGA Accreditation Masterclass takes place in New Delhi later the same month, offering insights into the accrediation process and its benefits. Scan the QR code to learn more and register, or visit www.amba-bga.com/events MUMBAI 14 FEBRUARY 2026 HYDERABAD 19 FEBRUARY 2026 NEW DELHI 24 FEBRUARY 2026
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Contents ISSUE 1 • 2026 • VOLUME 29
05 EDITOR’S LETTER
30 FACING UP TO FAILURE How to curb fear of failure among prospective entrepreneurs 34 IN FOCUS Students’ experience at Shantou University Business School, China 36 GUEST COLUMN Reimagining education as an experience that earns attention 38 DIRECTOR’S DESPATCH
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Entering a new year with a look at innovative approaches being taken at BGA business schools 06 BUSINESS BRIEFING The latest selection of news and research from institutions across BGA’s global network 10 COVER STORY TAKING CHANGE TO HEART How Católica Porto’s ESG ecosystem is shifting sustainability from peripheral concern to core capability
Meaningful moments and memories in a time of flux
14 DATA POINTS Research on schools’ response to economic uncertainty 16 WELCOME TO THE POST-KNOWLEDGE ERA Rethinking human value to lead in an AI-driven economy 20 CROWNING ACHIEVEMENTS The winners of the AMBA & BGA Excellence Awards 2026 28 DEVELOPING A DIGITAL VOICE Building visibility, credibility and trust on social media
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24 DEMYSTIFYING THE CREATIVE PROCESS Why we need to further
understanding of how creative thinking works to help students recognise when established knowledge needs to be challenged
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ALMATY
CAPACITY-BUILDING WORKSHOP
FRIDAY 17 APRIL 2026 | 09:30-16:30 ALMATY, KAZAKHSTAN
This collaborative, in-person workshop will explore how bold leadership is shaping higher education in Central Asia. Join us for practical insights into effective international strategies, cross-continental partnerships and institutional reform that can embody educational excellence in the region. Scan the QR code to register, or visit the AMBA & BGA website: www.amba-bga.com/events ACADEMIC LEADERSHIP & INTERNATIONALISATION
CBW
EDITOR’S LETTER
EDITORIAL
Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com Head of editorial Colette Doyle c.doyle@amba-bga.com Art editor Sam Price
HEADING IN A NEW DIRECTION
A new year so often provides the chance to pursue fresh ideas and projects, so in our first issue of 2026, we showcase a number of innovative approaches being taken at schools within the BGA network. We also look at innovation from a curricular perspective, by examining how institutions can encourage creative thinking and entrepreneurial confidence. Our cover story, from Católica Porto Business School dean João Pinto, looks at how a collaborative hub has sought to forge a new way of thinking about sustainability transitions. The aim is to change the dominant narrative on ESG reporting from one of mere compliance and box-ticking to one where business performance is inseparable from environmental integrity and societal wellbeing. “This seemingly simple ambition requires a profound shift in mindset, language and practice,” Pinto shares. We then hear how the AI for Business Accelerator at Kent Business School has emerged in response to the way the very nature of knowledge is changing, as Thomas Hirschmann reveals. “The real impact of AI is the transition to what has been termed the ‘endogenous innovation economy’; a new landscape where ideas give rise to further ideas with sufficient velocity to trigger exponential, rather than just additive, growth.” Using interlinked modules, the school is seeking to develop the leadership and innovation mindsets required by careers in an AI-driven economy,
How schools are pursuing novel strategies to change mindsets, impact business and prepare students for the future world of work
Sub-editor Heather Ford
facilitating the student journey to effective co-creation with the use of technology. Elsewhere, we get an insight into the preservation of creative thinking itself from BI Norwegian Business School lecturer Barbara Salopek. She explores why the notion that higher education suppresses creativity has been so hard to dislodge, but goes on to identify what the industry gets wrong about innovation: “The problem is not that students learn too much, but that they often learn how to use knowledge in only one way.” Innovation literacy, or “the ability to recognise when established knowledge needs to be applied, adapted or deliberately challenged” is the answer and business schools are uniquely positioned to strengthen it, Salopek argues. Lastly, Alliance Manchester Business School senior lecturer Robert Phillips asks how institutions can curb the growing number of would-be entrepreneurs who cite fear of failure as the reason for not starting a business. From providing good entrepreneurial ecosystems with incubators, mentorship, access to funding and influential networks to covering the psychology behind fear and failure in curricula, Phillips highlights how higher education can give you “a clear idea of what you are letting yourself in for” and “the skills to make it more likely that you will succeed, as well as the self-efficacy to believe in yourself.”
Insight, content & PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE
Director of business school engagement Debbie Kemp d.kemp@amba-bga.com Head of business development – BGA Richard Turner r.turner@amba-bga.com Senior marketing executive – digital lead Shareen Pennington s.pennington@amba-bga.com Commercial assistant Georgia Herbert g.herbert@amba-bga.com Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com Head of marketing & communications Leonora Clement l.clement@amba-bga.com Finance & commercial director Catherine Walke r Director of accreditation & director of BGA services Mark Stoddard Chief executive officer Andrew Main Wilson
GENERAL ENQUIRIES bga-membership@amba-bga.com
Tim Banerjee Dhoul Editor , Business Impact
Copyright 2026 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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BRIEFING The unexpected merits of dressing down at work, impressive results from an ambitious Latin American learning collaboration and an intriguing new form of sustainable tourism all feature in this round-up of news and research from BGA schools. Tim Banerjee Dhoul , Ellen Buchan and Colette Doyle report THE LATEST NEWS FROM ACROSS BGA’S NETWORK Business
THE SCIENCE BEHIND ENTREPRENEURIAL SUCCESS IN TRAINERS AND A T-SHIRT
hoodies, t-shirts, joggers and trainers, meanwhile, increases credibility and can outweigh formal qualifications and experience. “Entrepreneurs often have a more relaxed style. Our hypothesis was that unlike other business contexts, where formal attire signals professionalism and inspires trust, something else is important here: being perceived as genuine and authentic,” explained Hanken professor Joakim Wincent, who co‑authored the research with faculty at IE Business School, the University of St Gallen, Bayes Business School and the University of Notre Dame. “First impressions – and therefore clothing – play a big role. Our research shows that early and subtle social signals can have consequences far
beyond the first meeting between investors and entrepreneurs. It affects which ideas receive funding, which in turn affects the conditions for innovation, entrepreneurship and, in the long term, even economic development,” continued Wincent. The research was based on three studies that analysed what participants wore in the US TV show, Shark Tank between 2009 and 2019; 101 early-stage investments made by a European angel group between 2012 and 2024; and the results of an online experiment in which people with equity-investment experience were shown pictures of entrepreneurs and asked to review their startup. This was designed to test causal links and rule out alternative explanations. EB
SCHOOL Hanken School of Economics Finland
lose your eyes and picture an entrepreneur – are they in a sharp suit or a simple t-shirt?
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Whereas formal attire commonly conjures up the idea of professionalism and experience, researchers at Hanken School of Economics have found that for entrepreneurs, informal dress can help project authenticity and inspire trust. They also found that entrepreneurs can even be perceived by investors as lacking in experience if they dress formally; defined as wearing a suit, tie or trouser suit. Casual clothing, such as
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NEWS DIGEST
“The overriding aim is to promote
past participants. The latest challenge, meanwhile, centred on helping increase the reach and impact of Chilean startup Wheel the World, which connects travellers with specific accessibility needs to destinations, hotels and tours. Following two months of activities, the challenge culminated in a pitch competition with seven student teams. The winners, featuring two students from Universidad Andrés Bello and one each from Universidad Privada del Norte in Peru and Universidad EAN in Colombia, presented an idea that allows travellers to share phone recordings of short trips on the company’s platform to alleviate uncertainty about the accessibility of different locations. “Knowing that we were working alongside such a large international network made us feel part of something meaningful,” commented Universidad Andrés Bello student María Steyaert Birgit on behalf of the winning team, adding that it was “interesting to see how people from such different backgrounds could come together for the same purpose: to create real solutions with social impact.” TBD internationalisation, using technology and the COIL methodology to remove barriers to collaboration and mobility”
EXPANDING COIL CHALLENGE CLOSE TO REACHING 10,000 STUDENTS
has now engaged 9,600 students and more than 150 teachers from 20 different universities. “It has been an intense job, with great learning experiences and a commitment to take on more ambitious challenges,” said X-PRO director Andrés Tolosa, who is also the director of the international relations office at the Universidad Andrés Bello’s Faculty of Economics and Business, which developed the initiative. Its overriding aim is to promote internationalisation, using technology and the COIL methodology to remove barriers to collaboration and mobility. Each X-Pro Challenge revolves around a company case study, with US clothing firm Patagonia and sustainable products company LateChile among
SCHOOL Faculty of Economics and Business Universidad Andrés Bello, Chile
business challenge initiative developed at Universidad Andrés Bello is said to have
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become the largest example of collaborative online international learning (COIL) in Latin America. The latest iteration of Desafío X-PRO , or the X-PRO Challenge, is its 11th instalment since it was set up in 2020; it brought together 1,090 students and 50 teachers from 16 universities across the region to tackle a task centred on inclusive tourism. In total, the initiative
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HOW SUSTAINABLE PROCUREMENT CAN STRENGTHEN SUPPLY
SCHOOL Kühne Logistics University, Germany
S ustainability and supply security are not mutually exclusive – in fact, they may even play a crucial role in mitigating global health risks such as antimicrobial resistance. This is the key finding of a new study by Marianne Jahre, professor of operations management and dean of research at Kühne Logistics University. Her research on the integration of environmental criteria into pharmaceutical procurement challenges the widespread assumption that such requirements can increase costs and heighten the risk of medicine shortages. The study examined a procurement process for generic antibiotics, where priority in the award of contracts was given to suppliers meeting specified environmental requirements more fully, rather than those quoting the lowest price. While it was found that this approach did lead to higher short-term expenditure, it also supported more stable supplier relationships and helped safeguard supply continuity. There was no evidence in the case that including environmental criteria negatively affected availability. Moreover, expert assessments suggest that more environmentally responsible production practices – for example, stricter wastewater and emission control requirements – may help curb the spread of antibiotic-resistant pathogens in the long term. “Our findings show that sustainable procurement does not have to come at the expense of availability. Applied correctly, it can help reduce risk and make supply chains more resilient,” concluded Jahre. CD
PERCEPTION BIAS ABOUT AI COULD CHALLENGE THE PURPOSE OF COPYRIGHT
created by a human. Moreover, when participants were positioned as mock jury members, they found the AI-generated work to be significantly more infringing, or plagiaristic, than the human-created equivalent. “If a human and an AI do the exact same thing, with the same input and output, people still react differently. It’s as if our vision has changed,” suggested Avery, who co-authored the research with the University of Georgia’s Mike Schuster. The suggestion is that this perceptual bias stems from a desire to reward “what feels human”, as Avery terms it and that this then gets mixed up with the ability to make fair judgements in a legal context. “The point of copyright is to encourage creative works,” Avery elaborated. “If we start punishing works because AI was part of the process, we may risk chilling innovation and limiting what people can imagine.” EB
SCHOOL University of Miami Patti and Allan Herbert Business School, US
evelopments in AI are making it increasingly difficult for people to
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discern what is real and what has been generated by technology. Now, a new study co-authored by Joseph Avery at the University of Miami Herbert Business School has shown that perception bias around AI could have serious implications for copyright laws. In the study, participants were shown a copyrighted piece of work and then asked to evaluate two identical infringing works – one created by a human and one by AI. Intriguingly, the work produced by AI was deemed to be less ethical and of a lower quality than the one
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NEWS DIGEST
GREENWASHING TARGETED BY ESG REPORTING REFORMS
SCHOOL Rajagiri Business School, India
R ajagiri Business School assistant professor Jains Chacko delved into the lack of consistency among methodologies for environmental, social and governance (ESG) ratings in a recent blogpost for the Kochi-based school. The article explored how this has impacted both investors’ decision-making and recent regulatory reform in India. “The same company’s ESG performance can be interpreted in fundamentally different ways by different providers,” he remarked, noting that the divergence greatly increases the risk of greenwashing. Chacko then highlighted how last year’s introduction of a comprehensive governance structure for ESG rating providers (ERPs) in India has moved these measurements away from freely distributed global platforms and firmly into the country’s regulated financial ecosystem. New regulations from India’s Securities and Exchange Board, for instance, stipulate that all ESG scores must follow transparent methodologies, adhere to a clear 0-100 rating scale and encompass rating rationales and conflict-of-interest controls. Reflecting on the changes, Chacko argued that India’s reforms are a step in the right direction, pushing companies to prioritise assured disclosures, accurate data and long-term risk management practices. “Regulators have signalled that sustainable finance in India must be grounded in reliable data, transparent methodologies and accountability from rating providers,” he noted. TBD
STUDY UNCOVERS NOVEL FORM OF HERITAGE TOURISM
Developed by the UK’s Churches Conservation Trust in 2015, the champing initiative has grown to include 29 churches and more than 10,000 visitors since its launch. Facilities are intentionally minimalist: camp beds, lanterns and basic hot drink provisions. The paper places the concept within the academic frameworks of camping and staycations, both identified as under-researched areas in tourism studies. By doing so, it highlights how champing expands the outdoor hospitality portfolio and contributes to debates on authenticity, minimalism and local tourism. Three dominant themes were found to be at the heart of the champing experience: peaceful, explore and novel & new. “Overtourism has become a pressing issue for many destinations,” noted Jones. “Champing offers a counterpoint; it’s small-scale, local and experiential travel that benefits communities and reduces environmental pressures.” The study was co-authored by the University of Brighton’s Francisca Farache and published in the open-access journal, Tourism and Hospitality . CD
SCHOOL Wittenborg University of Applied Sciences Netherlands
A newly published study by Wittenborg associate professor Adam Jones explores the concept of ‘champing’, a novel form of heritage-based tourism that involves staying overnight in historic churches. The research provides the first academic examination of champing, a niche tourism concept that combines aspects of camping and staycations, while supporting the conservation of heritage buildings. The study adopted a ‘netnographic’ approach [akin to ethnography for the digital world], analysing online promotional material and guest reviews from the official champing website to understand how the practice is represented and experienced. “Champing offers an innovative example of how heritage spaces can be repurposed for sustainable tourism,” explained Jones.
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing Business Impact editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
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Taking change to heart
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SUSTAINABILITY
For five years, a collaborative hub at Católica Porto Business School has sought to position sustainability as a core strategic capability, rather than a peripheral concern. Dean João Pinto draws on the school’s experience to demonstrate how institutions can build ecosystems that help move business and society beyond compliance and towards systemic change A s business schools rethink their role in a world marked by climate instability, social inequality and systemic economic risk, the question is no longer whether management education should engage with sustainability, but how deeply and how effectively it can do so. has too often been reduced to risk management, box‑ticking and incremental improvement, rather than becoming a vehicle for genuine transformation. From the outset, therefore, the hub adopted a different framing, positioning sustainability communication as a core governance mechanism rather than a peripheral reporting function. It did this by drawing on sustainability transitions theory, regenerative thinking and transformative learning. The aim was not simply to help organisations disclose impact, but also to help them rethink value creation, decision-making and long-term resilience within ecological and social boundaries. This perspective facilitates the development of a systems view of sustainable business, moving from models that revolve around shareholder value to those of shared value and those that uphold systems value,
In 2021, the Innovation for Sustainability and Regeneration Hub (INSURE.Hub) at Universidade Católica Portuguesa was created in response to precisely this challenge. It is led by Católica Porto Business School and the university’s Faculty of Biotechnology, in partnership with the sustainable transformation programme and initiative, Planetiers New Generation. As it approaches its fifth anniversary, INSURE.Hub offers a compelling case study of how a business school–anchored ecosystem can move beyond compliance-driven sustainability agendas and become a platform for systemic change. Conceived as an innovation space linking education, research communication and applied experimentation, the hub reflects an ambition that is increasingly shared across leading institutions: to act as a catalyst for
where business performance is inseparable from environmental integrity and societal wellbeing. This seemingly simple ambition requires a profound shift in mindset, language and practice. The INSURE.Hub was, therefore, designed as a space where such shifts could be explored, tested and scaled. Delivering on the school’s aims Five years on, INSURE.Hub’s impact is visible across a number of interlinked vectors, encompassing everything from educational offerings and applied research to engagement and advocacy activities, as detailed below. • Executive education and academic learning have been central from the beginning. Through immersive executive weeks and postgraduate programmes in sustainable and regenerative innovation, as well as tailored in-company or cluster-based training, in‑depth learning at the hub has reached more than 150 senior executives. In addition, more than 500 students have been reached through short and
positive impact in business and society. From ESG to regeneration
INSURE.Hub was established against a backdrop of growing dissatisfaction with narrowly defined environmental, social and governance (ESG) frameworks. While ESG has significantly improved transparency, reporting and accountability, there have been clear limitations. Above all, sustainability
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Experiencing the hub For students and alumni of Católica Porto Business School, the hub is not an abstract institutional initiative but a lived ecosystem. Engagement typically occurs through project-based courses, executive workshops, interdisciplinary collaborations and direct interaction with companies and public organisations.
intensive academic experiences. Hub programmes and offerings are deliberately experiential, confronting participants with real-world trade-offs and dilemmas rather than abstract frameworks. One defining feature is the integration of sustainability literacy assessment tools, such as Sulitest’s TASK, which allow both participants and educators to track progress across environmental, social and governance dimensions. Results here consistently show measurable improvements in systems thinking and sustainability understanding, reinforcing the value of structured yet reflective learning journeys. • Applied research and innovation form the second pillar. Supported by strong links with Católica Porto Business School’s Research Centre in Management and Economics and the Faculty of Biotechnology’s Centre of Biotechnology and Fine Chemistry, the hub has contributed to more than 250 scientific publications and supported more than 30 innovation projects. These span a range of sectors, including food systems, fashion, housing, chemicals and territorial development, with a focus on circular and regenerative business models. • Ecosystem engagement is perhaps the hub’s most distinctive achievement. What began as an interdisciplinary initiative has evolved into a transdisciplinary platform aggregating more than 100 entities, including corporations, municipalities, business clusters, universities and civil society organisations. This ecosystem approach enables experimentation at the ‘niche’ level while influencing broader organisational and sectoral practices. • Literacy and advocacy activities extend the hub’s reach beyond formal education. Conferences, public talks, youth-oriented initiatives and international gatherings have reached approximately 1,400 participants to date, fostering shared language and collective learning around sustainability and regeneration. In particular, the hub’s annual International Conference on Innovation, Sustainability and Regeneration is now approaching its sixth edition and has become a focal point for global dialogue and knowledge exchange. It brings together researchers, companies, practitioners and impact-driven initiatives from around the world to foster shared learning and the dissemination of good practice across diverse communities.
“It is through experiential learning, dialogue and co-creation that mindsets shift and new governance logics emerge”
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SUSTAINABILITY
learning, dialogue and co-creation that mindsets shift and new governance logics emerge. An evolving platform for impact As INSURE.Hub enters its next phase, the emphasis is shifting from consolidation to selective scaling. Priorities for the coming five years include deepening regenerative governance capabilities, expanding applied innovation and evolving executive education towards more immersive, challenge-driven formats. A defining development will be the internationalisation of the hub through partnerships with business schools in Brazil, India and China. These collaborations will establish regional nodes adapted to local sustainability challenges, enabling mutual learning, applied research and further engagement with students and executives. The ultimate goal is to build a transnational ecosystem linking Europe, Latin America and Asia around shared sustainability transitions. Universidade Católica Portuguesa’s INSURE.Hub illustrates how business schools can move beyond rhetoric and play an active role in shaping more sustainable and regenerative futures. By integrating education, communication, innovation and ecosystem collaboration, the hub demonstrates that sustainability is not a peripheral concern but a core strategic capability. For Católica Porto Business School, meanwhile, the hub is both a reflection of the institution’s mission to develop professionals for a global, sustainable and ethical society, as well as a living laboratory for reimagining the purpose of business education. For the wider business education community, it offers a replicable model of how institutions can create meaningful impact, not only by teaching about change, but also by enabling it.
Students work on real sustainability challenges posed by partners within the ecosystem, ranging from decarbonisation roadmaps and sustainable supply chains to regenerative housing and food systems. These interactions and exposure help bridge the gap between theory and practice, while reinforcing the idea that sustainability is a strategic, organisational issue rather than a specialised function. Alumni, many of whom occupy leadership roles, often return to the hub as project sponsors, guest speakers or mentors. In so doing, they contribute to a virtuous cycle of learning and impact, reinforcing the school’s mission to educate responsible leaders that are equipped to navigate complexity. Challenges & lessons learned INSURE.Hub’s journey has not been without challenges. One of the most persistent has been the tension between urgency and depth. Organisations often seek quick answers to regulatory or reputational pressures, while systemic change requires time, reflection and experimentation. Balancing these expectations remains an ongoing task. Another challenge lies in sustaining transdisciplinary collaboration. Bringing together diverse actors – academics, executives, policymakers and civil society – demands a shared language and mutual trust. This has required careful facilitation and a willingness to embrace ambiguity and contestation. Moreover, a key lesson from the first five years is that sustainability communication is most powerful when it is embedded in practice. Reports and frameworks matter, but it is through experiential
João Pinto is dean and professor of finance at Católica Porto Business School, Universidade Católica Portuguesa. He is also a member of the executive committee of Universidade Católica Portuguesa – Porto and co-leader of INSURE.Hub
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Data points Economic uncertainty is currently the biggest challenge among business schools worldwide and the majority are exploring new programme formats, collaborations and target audiences to alleviate its impact. Tim Banerjee Dhoul analyses thought-provoking findings from a forthcoming AMBA & BGA report
challenge cited. It ranked among the top three current challenges for 57 per cent of global respondents, placing it ahead of technological disruption, increased competition and changing market demand. In total, 72 per cent of school leaders worldwide said their school is experiencing challenges due to economic uncertainty. At the vanguard of current concerns around economic uncertainty is how the economy is affecting prospective students’ ability to afford programmes (cited by 64 per cent of respondents), the impact of inflation on schools’ operational costs (cited by 55 per cent) and the reduction of government grants or public funding (cited by 48 per cent). These responses are mirrored by leaders’ fears for the future, with recession, rising
he continuing uncertainty afflicting the global economy is compelling business schools to
portfolios and adding shorter, “taster” courses to meet changing market needs and accommodate the financial realities of many prospective students. In recognition of the value of effective collaboration, meanwhile, schools are partnering with other institutions and developing closer links with industry. Of course, many of these links will be international and some schools have opted to cast their gaze further afield by exploring the advantages of overseas campuses and opportunities to deliver transnational programmes. Whatever the individual strategy, it’s fair to say that shoring up sustainable sources of revenue in an era of flux is at the forefront of most school leaders’ minds. In the AMBA & BGA research, economic uncertainty was the top
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explore new avenues of education and collaboration, as they seek to sustain their competitiveness. Among 114 school leaders surveyed by AMBA & BGA for an upcoming report on the management education industry’s 10 biggest challenges, 69 per cent said that their institution is pursuing revenue diversification to counteract the current climate of economic uncertainty. The most common examples among current efforts cited by respondents straddle new forms of programmes, partnerships and access, as well as ventures into new territories. On the programmes side, schools are bolstering their executive education
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AMBA & BGA RESEARCH
inflation and declining government funding topping their list of anticipated economic issues in the next three to five years. IMPACT & OPTIMISM While the impact of economic uncertainty on business schools is difficult to measure conclusively, the perceived influence on admissions figures and budgets certainly paints a challenging picture. Almost half (47 per cent) of leaders said that economic uncertainty had contributed to a decline in international enrolments, while 38 per cent said it had contributed to a decrease in domestic student enrolments. Moreover, 20 per cent linked the economic climate to shifting enrolment preferences, towards part-time and online options, for example. In addition, 93 per cent of those operating budget, with 59 per cent reporting a reduction in their school’s overall spending and 34 per cent citing a shift in funding priorities. Having said that, the industry’s optimism endures – a total of 84 per cent of respondents are confident in their school’s ability to adapt to ongoing economic challenges, with 34 per cent “very confident”. Clearly, this can be linked to the majority of schools’ willingness to pivot and explore new programme paths and partnerships. polled shared that economic uncertainty had affected their
OF BUSINESS SCHOOL LEADERS SAY THEIR INSTITUTION IS PURSUING REVENUE DIVERSIFICATION TO COUNTERACT ECONOMIC UNCERTAINTY 69 %
• The findings in this article are taken from AMBA & BGA’s
forthcoming and comprehensive report on the top 10 challenges for business schools worldwide and stem from an online survey of senior leadership at institutions within the global AMBA & BGA network
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AI is taking us beyond the knowledge economy and into a self-innovating environment that demands co-creation between humans and machines, argues Kent Business School’s Thomas Hirschmann . Here, he outlines how the school’s new AI for Business Accelerator programme aims to develop the leadership and innovation mindsets required for the future world of work Welcome to the post-knowledge era
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TECHNOLOGY
F or decades, the business landscape has been defined by the knowledge economy, an era where value was derived from accessing, mastering and applying pre‑existing truths. In this paradigm, expertise was synonymous with knowing what a ‘good’ output should look like because the underlying knowledge existed. However, as we navigate the mid- 2020s, this epistemological foundation has shifted. We are transitioning into a post-knowledge, innovation economy, where value no longer emerges from static expertise but through dynamic co-creation between humans and artificial intelligence (AI). Kent Business School’s AI for Business Accelerator is designed to operationalise this shift, acting as a vital bridge between academic theory and industrial application. We recognise that AI is not merely a technical upgrade or a tool for efficiency. Instead, it represents a paradigm shift in the very nature of intelligence and its role in value creation. Our vision is to prepare the next generation of leaders for a world where intelligence is symbiotic, growth is endogenous and human contribution is redefined by The nature of knowledge is changing, with sources suggesting that we are moving from a representational epistemology to a constructivist one. In the old model, humans discovered truths and translated them into valuable work. However, today’s AI-mediated interactions involve a non-deterministic rewriting of understanding, through which knowledge is becoming an emergent construction that arises only through dialogue and hybrid human-machine reasoning. This evolution can be understood through the lens of symbiogenesis, in which organisms merge to create something greater than the sum of their parts. Google vice-president and AI researcher Blaise Agüera y Arcas asserts that just as mitochondria once integrated into cells to provide a leap in both complexity and capacity, AI represents a major evolutionary transition for humanity. We are no longer individuals using tools; we are becoming part of a larger ‘cognitive superorganism’ that includes digital systems and AI infrastructure. originality rather than execution. Rethinking human value A common fear in the current discourse is that automation kills jobs. However, evidence suggests that when a task can be automated, it simply loses its
manual relevance within its specific technological context. The real impact of AI is the transition to an entirely new type of ‘endogenous innovation’ economy; this is an uncharted new landscape where ideas give rise to further ideas with sufficient velocity to trigger exponential, rather than just additive, growth. While previous technological revolutions focused on making production more efficient, AI is beginning to substitute for the most difficult aspect of labour: namely, the process of making technology itself better. The emergence of this self-innovating environment demands a fundamental rethink of human value. When machines can handle everything that is predictable and incremental, the only remaining value for humans is the completely novel and the uniquely original. We must move from being administrative forward-planners to becoming highly original thinkers and creative artists. To thrive in this co-evolutionary context, we must identify what remains irreplaceable in the human experience. For example, tacit knowledge, or the ability to know how to do something without being able to formalise it, like riding a bicycle, has frequently been put forward as such a uniquely human contribution. The reason for it is that while machine learning can automate tasks that previously resisted codification, it cannot replicate strong tacit knowledge rooted in lived experience, moral responsibility and contextual spontaneity. Another example for such uniquely human skills is the EPOCH framework identified in research from MIT Sloan, where empathy, presence, opinion, creativity and hope are representing core human capabilities that complement rather than substitute AI. High-EPOCH occupations are already experiencing significant growth, as these roles involve human- intensive tasks that machines cannot originate. At Kent Business School and the wider University of Kent, we teach our students that AI doesn’t make fundamentals obsolete; it makes them more important. Structured reasoning, clarity of thinking and the ability to decompose problems analytically are now quintessential characteristics for creating new value together with our machine partners. Building a skills portfolio The AI for Business Accelerator at Kent is, therefore, our concrete response to these transformations. Designed to build both technical and meta-cognitive skills, it is structured into the following four, logically linked modules:
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• AI masterclass: An introduction to AI’s general impact, ethical application and its role in business transformation and hybrid teams • AI lab : A co-creative space where students and experts explore challenges and develop initial AI solutions through human-AI collaboration • A dvanced AI lab: A module focused on finding solutions to real-world business challenges, allowing students to apply subject matter expertise in a high-stakes environment • AI ventures: In collaboration with the Kent Innovation entity currently being developed, this final stage involves testing and scaling AI-first product and service innovations, involving investors and commercial licensing. This structure ensures that students don’t just learn about AI, but master it by solving complex real-world problems. The aim is to move away from outdated learning standards, such as static exams and degrees, and towards a skills portfolio that functions more like a GitHub repository than a traditional CV. A collaborative ecosystem The AI for Business Accelerator programme is not just for students; it’s also designed to provide a collaborative ecosystem for industry leaders. World-famous brands, including German automotive giant BMW and San Francisco-based software firm Databricks have already joined the accelerator because they recognise the following advantages: • Preparation: Helping organisations get ready for shifts in work and value creation by building strategic skills • Innovation: Most legacy systems are not prepared for human-AI hybrid setups. By working with students who have greater cognitive flexibility, partners can test new ways of working alongside AI agents in a safe environment • Leadership: Participation positions companies at the forefront of the AI transformation landscape • Participation: Engaging in the programme ultimately creates an AI innovation ‘flywheel’, where every interaction between users, systems and data creates high-quality feedback loops that fill internal knowledge systems. Co-creation & the future of work Tomorrow’s leaders must understand the business implications of introducing a new general-purpose technology, such as AI. The Productivity J-Curve model, for example, offers an important illustration of how organisations can expect an initial period of seemingly reduced productivity. This period is marked by heavy investment in ‘intangibles’ – restructuring assets and rebuilding processes – that only later manifest as measurable growth. The world of work is currently in this learning curve. To exit it successfully, we must address the
metabolic rate at which organisations can adapt to the influx of new intelligence. We also face the historical challenge of reskilling at least 50 per cent of the workforce. From our perspective, ‘reskilling’ here does not just mean technical training; it also means helping knowledge workers become innovation workers who can access their deeply experiential, tacit knowledge to trigger breakthroughs. The journey from AI as a tool to AI as a creative thinking partner is nearly complete and we are no longer idle passengers. By embracing such a symbiotic concept of intelligence, we can close the gap between passive prediction and the active co-creation of an economically and socially desirable future. Kent Business School’s AI for Business Accelerator stands at this frontier. We invite the AMBA & BGA community to engage with our ‘co-intelligence sandboxes’ where we are offering a controlled environment for experimentation and help us develop the leadership and innovation mindsets required for the AI-first economy. Together, we will not merely ensure that human intelligence remains relevant, but that it is the essential spark that drives the next era of global progress.
Thomas Hirschmann is a lecturer in business analytics at Kent Business School, University of Kent, where he teaches innovation and AI. He is also the founder and CEO of CoreCortex and its sister company, Behavioural Economy
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CAPACITY BUILDING WORKSHOP
INTEGRATING CSR & SUSTAINABILITY INTO CURRICULA & CULTURE WEDNESDAY 22 APRIL 2026 16:00-18:00 | ONLINE
Scan the QR code to register, or visit the AMBA & BGA website: www.amba-bga.com/events CBW This online workshop is designed to help business schools in Latin America explore practical ways to embed CSR and sustainability into their programmes and operations, offering insights into ethical leadership and strategies for building a values‑driven institutional culture.
Business schools in Italy and Kazakhstan scooped the flagship BGA accolades at this year’s AMBA & BGA Excellence Awards, with further wins for BGA schools in the categories of lifelong learning, diversity, best partnership and startup of the year. Business Impact editor Tim Banerjee Dhoul reports Crowning Achievements
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AMBA & BGA EXCELLENCE AWARDS
BGA Student of the Year
WINNER: Aurora d'Alonzo, POLIMI Graduate School of Management (GSoM), Italy
A decade into her working life, d'Alonzo embarked on a career change with the help of POLIMI GSoM’s international master’s in sustainability management & CSR, where she excelled in both curricular and extracurricular activities. A leading student representative in continuous improvement initiatives organised by the school’s careers and programmes teams, d'Alonzo is now on its Impact Committee and serves as an ESG project manager at a consulting firm. Looking back at her return to education, she remarked: “While it may have seemed like a step back to many, I saw it as a conscious leap forward, driven by purpose, curiosity and a deep commitment to sustainability.”
A recent graduate of POLIMI Graduate School of Management in Milan, Aurora d'Alonzo was crowned BGA Student of the Year at a gathering of more than 200 members of the global business education community in London. Meanwhile, the School of Economics and Management at Narxoz University in Kazakhstan held off challenges from schools in the UK, China, India and Peru to win the annual BGA Business School Impact Award. Members of BGA’s global community also claimed the top prize in four of the remaining nine categories open to BGA institutions. The dual-accredited institutions, MIM-Kyiv and King’s Business School won the coveted diversity and startup awards, respectively. Elsewhere, GITAM School of Business – a BGA member school based in India – came out ahead of some prestigious institutions to win the lifelong learning award, while the accolade for best partnership went to the AMBA-accredited and BGA member institution, Adam Smith Business School in Scotland. Full details of the awards follow opposite and overleaf. Aurora d'Alonzo’s momentous decision to return to education led to her being named BGA Student of the Year
More than 200 members of the global business education community attended the prestigious event
BGA Business School Impact Award
WINNER: School of Economics and Management (SEM), Narxoz University, Kazakhstan for the Chartered Institute of Marketing (CIM) integration initiative Embedding CIM professional certification into the marketing curriculum at Narxoz SEM has helped the school align its offerings with international standards and bridge the gap between academia and industry. In addition, it more than doubled student employability among those who completed CIM modules and led to the incorporation of additional modules on AI
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in marketing, data analytics and ESG. As the first CIM‑accredited university in Central Asia, Narxoz SEM offers a powerful example for other institutions in the region and emerging markets elsewhere in the world. Best Lifelong Learning Initiative, in association with Ready Education
WINNER: GITAM School of Business, India for GITAM Innovation & Entrepreneurship Continuum
backgrounds, equipping them with world-class leadership skills and empowering them to develop practical projects that address national challenges. “This recognition is especially meaningful for Ukraine, where the war has profoundly altered social and demographic realities. With so many men serving in the armed forces, women are assuming more leadership roles in business, public life and communities,” shared MIM-Kyiv president Iryna Tykhomyrova shared the impact of being recognised for the Best Culture, Diversity & Inclusion Initiative
The continuum is a purpose-built platform spanning academic education and real-world venture development that helps learners evolve from students to business founders to mentors. First conceptualised in 2019, it has now reached more than 1,000 learners and supported more than 300 ventures, with a model that blends classroom learning, real-world application, access to funding and a strong alumni network. “This recognition affirms our belief that lifelong learning is not confined to the classroom, but is a continuous journey of curiosity, innovation and impact,” enthused GITAM School of Business dean Raja P Pappu.
MIM-Kyiv president Iryna Tykhomyrova. Best Innovation Strategy WINNER: IE Business School, Spain for the Job Matching Tool (JMT)
The JMT is an AI-powered tool that delivers personalised job recommendations directly to students’ inboxes each week, based on an algorithmic analysis of their profiles and preferences. It transforms how they connect with career opportunities, offering a new standard for digital career support. Best CSR & Sustainability Initiative, in association with Cesim Business Simulations WINNER: Universidad Externado de Colombia for Responsible Supply Chain Network A learning-by-doing initiative that has enabled more than 5,300 students to provide free consulting services to 2,246 SMEs, strengthening participants’ economic, social and environmental capacities while enhancing company supply chains.
GITAM School of Business dean Raja P Pappu accepted the award for the Best Lifelong Learning Initiative via video link
Best Culture, Diversity & Inclusion Initiative
WINNER : International Management Institute (MIM- Kyiv), Ukraine for the Women’s Leadership Programme
Created in collaboration with IMD Business School, the Women’s Leadership Programme is an investment in the future of female leadership in Ukraine. It seeks to engage women from diverse regions, sectors and
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AMBA & BGA EXCELLENCE AWARDS
and coaching, is empowering thousands to lead healthier, more intentional lives and achieved $7.2 million in revenue in its second year. Startup of the Year WINNER: Samuel Tecuala, King's Business School, UK for Dehusk Designed to tackle micronutrient deficiencies in the Philippines, a market where 90 per cent are lactose intolerant, Dehusk’s locally produced and fortified coconut milk beverage bridges heritage and health innovation. Tecuala is a graduate of the bachelor’s in business management at King’s Business School, while company investor Mohamed Amr Hamwi is a student on its MSc in finance and analytics.
Jan Shearer leads the project at Adam Smith Business School, which won Best Business School Partnership
Best Business School Partnership
WINNER : Adam Smith Business School, University of Glasgow, UK with Barefoot in Business
In a proactive and innovative approach to strategic collaboration, colourful tote bags are produced sustainably by female entrepreneurs in Uganda and then sold in a business created by primary school students in Glasgow. Students at Adam Smith Business School use their knowledge and skills to offer support and guidance to the schoolchildren involved. Best Digital Transformation
Dehusk investor Mohamed Amr Hamwi accepted the Startup of the Year award on behalf of Samuel Tecuala
WINNER : BI Norwegian Business School, Norway
A blended format with a difference – BI Norwegian Business School’s redesigned MBA and EMBA programmes preserve full academic rigour and contact hours across in-person modules and live, synchronous online learning. Tailored to the Norwegian context, the result is greater flexibility, engagement and accessibility. Entrepreneur of the Year
Postgraduate Leadership Award WINNER : Cristian Von Schulz Hausmann, Universidad Torcuato Di Tella Escuela de Negocios, Argentina Cristian Von Schulz Hausmann’s blend of medical, managerial and social leadership made him a standout nominee in this category. As managing director and general manager of healthcare Mexico at the German pharmaceutical multinational, Merck, Von Schulz Hausmann expanded access to new products, notably unlocking reimbursements for an oncology drug after 12 years. His “net positive approach”, meanwhile, was recognised by the Anne Frank Foundation LatAm for societal impact.
WINNER : Warner Jenkins, IE Business School, Spain
Shaped by IE’s global, entrepreneurial environment, Jenkins has turned personal healing into commercial innovation. Nordic Wellness, a holistic ecosystem connecting cold therapy, personalised breathwork
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