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 monthly magazine of the Association of MBAs (AMBA) BE IN BRILLIANT COMPANY
Issue 69 DECEMBER 2023/ JANUARY 2024
Adam Smith takes a fresh approach to business education Walk on the wild side
A HOSPITABLE ENVIRONMENT King’s aims to create sustainable tourism
THE CULT OF IDENTITY Why personality is so pivotal for leadership
DREAMS OF YOUTH AMBA research reveals student career goals
Excellenc Award
Issue 69 | DECEMBER 2023/JANUARY 2024
NEWS & INS IGHT
REGULARS
EDI TOR’ S LET TER The fascinating science of ecopedagogy, a growing teaching approach centred on social and natural environments SPOTLIGHT ON SCHOOLS Bucharest Business School, part of Bucharest University of Economic Studies – recently accredited for its joint MBA and EMBA programmes
FROM THE CEO
Andrew Main Wilson pays tribute to the remarkable development of business schools in Asia
BUS INESS BRI EF ING The latest news and research from across AMBA’s global network
STATE OF PLAY AMBA & BGA research reveals how students choose and experience their business school programmes of study LEARNINGS FROM LATIN AMERICA A review of this year’s AMBA & BGA Deans & Directors Conference held in Mexico City
OPINION
LEADERSHIP An examination of the traits shared by some of the world’s most influential business people
F INDING YOUR FEET
An interview with the winner of 2023’s MBA Entrepreneur of the Year Award
Ambition DECEMBER 2023/JANUARY 2024 | 3
RESEARCH AND INSIGHT: STAY AHEAD OF THE TRENDS IN BUSINESS EDUCATION
AMBA & BGA’s Research and Insight Centre produces a wealth of groundbreaking new research and compiles reports citing views from business school practitioners, faculty, students and graduates across the globe on the issues that matter most in business education Recent AMBA & BGA research has investigated business schools’ attitudes to poverty, rankings, climate change and education technology. We have analysed career trajectories, graduate success in the new normal, application and enrolment figures across a spectrum of programmes, as well as employer and student perceptions of lifelong learning
We also seek to collaborate with business schools and corporate partners in order to further enhance AMBA & BGA’s research offering
If you are interested in partnering on research, joining one of our roundtables or focus groups to delve into the findings, or even sharing your thoughts on what topics you would like AMBA & BGA to explore, please contact research@associationofmbas.com
Issue 69 | DECEMBER 2023/JANUARY 2024
FEATURES
A NEW DIRECTION Iedc-Bled School of Management’s Pierre Casse and Elnura Irmatova offer a guide to redefining and redesigning the concept of leadership for tomorrow’s business environment
THE GREAT OUTDOORS
Adam Smith Business School senior lecturer Matt Offord introduces us to a teaching approach centred on our social and natural environments
A LESSON IN BUSINESS EDUCATION How the hospitality industry served as the inspiration for King’s Business School’s new environmental, social and governance (ESG) executive education programme
A QUESTION OF CHARACTER Daniel Tuma considers the attributes and soft skills that will be of most use to MBA graduates as they seek to deal with the rapidly changing demands of global business
Ambition DECEMBER 2023/JANUARY 2024 | 5
BGA capacity-building workshop
9 FEBRUARY 2024 ESDES BUSINESS SCHOOL, LYON, FRANCE
AMBA & BGA invites you to attend a free workshop tailored towards business schools in Europe The event will focus on ways of improving student engagement, with opportunities for participants to share experiences and collaborate with one another
Places are limited. Scan the QR code to register
IN ASSOCIATION WITH:
EDITOR’S LETTER
The science of ecopedagogy EXPLAINED
EDITORIAL Head of editorial Colette Doyle c.doyle@amba-bga.com Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com
hen we talk about different methods of teaching business management programmes, we normally mean in-person, remote or hybrid. This month’s intriguing cover story, however, revolves around an entirely different concept: that of learning outdoors. Dr Matt Offord, senior lecturer in leadership and management Exploring the environment outside the classroom can expand business students’ horizons in surprising ways education at Adam Smith Business School at the University of Glasgow, expounds on the fascinating theory of ‘ecopedagogy’. This is a growing teaching approach centred on social and natural environments that connects management theory and concrete experience. Offord organises field visits for his student cohorts based on the “pedagogy of place” method; however, as he is at pains to point out, such excursions are not to be confused with outdoor learning as a team-building, character-forming or physically challenging pursuit and, in fact, many trips take place on campus itself – read all about it on page 18. Often, lecturers are so busy immersing themselves in teaching that they lose sight of what students want to achieve from their MBA programme. To remedy this, our in-house researcher Ellen Buchan has compiled a compelling report on AMBA & BGA’s global membership, detailing how today’s cohorts select and experience business school programmes. It turns out that the most common reason students choose to study a management programme is to expand their area of expertise, with 74 per cent of respondents citing this motivation. Additionally, 67 per cent want to acquire more skills and knowledge about the business world. In an article penned by King’s Business School’s Marc Lepere and Giana Eckhardt, we hear about another kind of research. The school is collaborating with the Energy and Environment Alliance on the first-ever ESG (environmental, social and governance) executive education programme designed specifically for hospitality sector leaders. The academics explain that through the programme, they are aiming to translate cutting-edge research into “actionable strategies for a better future”. Enjoy the issue; it just remains for me to wish our readers happy holidays and all the very best for an inspirational and productive new year. W
Art editor Sam Price Sub-editor Heather Ford
Insight, content and PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE 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
Head of events Carolyn Armsby
HR and employer relations manager Aarti Bhasin Finance and commercial director Catherine Walker
Colette Doyle , Editor, Ambition
THIS MONTH’S CONTRIBUTORS
Chief executive o cer Andrew Main Wilson
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com ACCREDITATION ENQUIRIES accreditation@amba-bga.com
PIERRE CASSE
DAVID DODSON
GIANA ECKHARDT
ELNURA IRMATOVA
MARC LEPERE
MATT OFFORD
JÉRÔME PASQUET
VASILE ALECSANDRU STRAT
DANIEL TUMA
Copyright 2023 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 DECEMBER 2023/JANUARY 2024 | 7
BUSINESS BRIEFING
All the latest updates from across AMBA’s global network
Research into the use of VR technology by business school students, the modern-day phenomenon of ‘techno isolation’ and the normalisation of hybrid working patterns for employees feature among Ambition’s latest selection of updates. Compiled by Tim Banerjee Dhoul, Ellen Buchan and Colette Doyle
WHY HRM NEEDS TO CHANGE TO CURB INDIVIDUALISM AND FOSTER COLLABORATION FOR A NEW ERA
SCHOOL: São Paulo School of Business Administration, Fundação Getulio Vargas (FGV EAESP) COUNTRY: Brazil
The suggested reforms in Souza’s study emphasise the importance of HRM systems that evaluate the common good. The author argues that this is the best way to respond to today’s global, grand challenges, such as climate change, poverty and the gender pay gap. The reorientation of HRM practices to encourage collaborative processes and decentralised leadership, meanwhile, would represent part of the necessary changes demanded by today’s business world, according to the study. The reasoning is that such an approach can facilitate the contribution and collaboration of multiple, interdependent agents in environments defined by technology, networks, unpredictability and uncertainty. The study, entitled Beyond the individualised organisation: The role of HRM in the (non)emergence of organisational and leadership practices for impact , has been published in the Scandinavian Journal of Management . EB
Modern-day work practices encourage individualism and prevent collaborative working environments, according to FGV EAESP researcher Renato Souza. To combat this problem, human resource management (HRM) should, in Souza’s eyes, move towards a less centralised structure. Current HRM practices identified as a concern include personal performance assessments and centralised leadership decisions. These are said to celebrate the individual, rather than how he or she impacts the common good of the organisation or wider society. In order to drive organisational change and success, the FGV EAESP researcher argues that HRM must reform its practices so that evaluation systems not only take each employee’s individual characteristics into account, but also look more broadly at the mutual support given by each of an organisation’s members. In so doing, they should focus on celebrating collaborative relationships, teamwork and the development of collective and shared goals.
8 | Ambition |
DECEMBER 2023/JANUARY 2024
NEWS & INSIGHT
GROWING PROMINENCE OF ENTREPRENEURIAL ECOSYSTEM IN FUNDING
SCHOOL: Insper COUNTRY: Brazil
Funds raised by companies owned by students and alumni of Insper will represent at least 20 per cent of total funding across Brazil in 2023, up from 10 per cent last year, according to an estimate from the school’s Innovation and Entrepreneurship Hub. Central to this total is the R$1 billion (c $200 million) raised by fintech firm QI Tech, where Insper economics graduate Marcelo Bentivoglio is a co-founder and CFO. The amount raised, as part of an investment round led by the private equity manager General Atlantic, is so far the largest achieved by a start-up in Brazil this year. “Insper entrepreneurs have been able to demonstrate the value of their businesses and build companies with solid proposals, which keeps them resilient even in the face of market downturns,” said Innovation and Entrepreneurship Hub co-ordinator Thomaz Martins. Noting that a growing number of ventures emanate from Insper’s engineering and MBA programmes, Martins pointed to the role of the school’s entrepreneurship track in disseminating good start-up practice. Offering more than 20 subjects, it can be taken by any student on any programme. “Insper has the mission of training leaders to be protagonists and transform Brazil,” Martins asserted. Financial aid can also play a role. Bentivoglio received a partial scholarship for his studies and is now a donor himself: “I am very grateful for everything I experienced at the university. I am proud and happy to be able to contribute whatever I can,” he disclosed. The start‑up CFO is also a mentor to an Insper student, as well as a regular guest speaker and teacher of entrepreneurship and fintech classes. Institutional relations manager Ana Carolina Velasco described Bentivoglio as “a testament to the commitment and inspiration of our community and a shining example of the potential that the scholarship programme achieves.” TBD
Whether you’re working in the office or at home, there’s no escaping digital technology. Digital tools have become the norm since Covid, even for office-based employees, who still need to communicate with their remote colleagues as members of a hybrid work organisation. But why is it so difficult to stay focused on video calls? And why do you end up feeling so drained afterwards? Assistant professor of human resources management and organisational behaviour at Neoma Business School Agata Mirowska, together with Rennes School of Business associate professor Tuba Bakici, have provided an answer to these questions, labelling the phenomenon ‘techno isolation’. The authors carried out qualitative interviews with 36 teleworkers in French companies, followed up by interviews with three human resource directors. The interviews shed light on techno isolation, said to be defined by a number of causes. First, digital tools inhibit personal interaction and the transfer of information, making it difficult to get immediate feedback or pick up on what your interlocutor is thinking. What’s more, it is difficult to pull a group together, take decisions or sort out disputes. Video-conferencing facilitators don’t get a ‘feel’ for their audience either, meaning they can’t adapt what they are going to say. In addition, it’s all too easy to get distracted; staying tuned in requires a great deal of effort and concentration. Techno isolation can also be attributed to the growing scarcity of informal interactions, such as coffee breaks, bumping into a colleague in the corridor or chats that veer into less work-related territory. To remedy the situation, the researchers suggest boosting digital training and technical support. You can also give colleagues a break from digital overload by planning days when all employees are on site and cutting back on the length and chain of digital interactions. The authors also recommend managerial training in best practices for moderating virtual teams in order to revive informal interactions. Alternatively, more sophisticated digital tools could be employed, such as immersive virtual worlds and online collaborative software. CD SOLVING THE STRAIN OF VIDEO-CONFERENCING SCHOOL: Neoma Business School COUNTRY: France
Ambition | DECEMBER 2023/JANUARY 2024 | 9
VR RESEARCH PROGRAMME SEEKS TO UNDERSTAND USE OF TECHNOLOGY
SCHOOL: Strathclyde Business School University of Strathclyde COUNTRY: UK
Representatives from 62 business schools based in 37 different countries came together over three days at the 50th annual Partnership in Management (PIM) Conference at the end of October. Under the overall theme of megatrends affecting global management education over the next 50 years, the former chair of AMBA & BGA Bodo Schlegelmilch (pictured above) gave the conference’s first keynote address on the industry’s past, present and future. Further keynotes, interspliced with panel discussions and workshops, were then given by Sony Group Corporation senior executive vice-president Kazushi Ambe and Forbes Japan managing editor Yuka Tanimoto. Ambe spoke about Sony’s future partnerships with business schools, while Tanimoto delved into the results of interviews with 4,000 company heads to reveal insights into leadership in the post‑capitalism era. In addition, those in attendance were able to take advantage of a sightseeing trip around the city of Kyoto, a visit to the Toyota Automobile Museum and a tour of the NUCB campus. The PIM network was established in 1973 by Ecole des Hautes Etudes Commerciales (HEC), New York University and London Business School. It aims to facilitate international co-operation among member schools that fosters the development of joint programmes, student and faculty exchanges, as well as joint research and co-operation among faculty members and researchers. Its annual conference is hosted by a member school based in a different region each year, with the UK’s Warwick Business School the venue in 2022. This year’s host, NUCB Business School, became a full member of the PIM network last year, with a view to furthering the school’s internationalisation efforts and enhancing the quality of MBA-level study at the school. TBD MEGATRENDS THE MAIN FOCUS FOR MILESTONE PIM CONFERENCE SCHOOL: NUCB Business School, Nagoya University of Commerce & Business COUNTRY: Japan
Virtual reality (VR) technology is being used to improve students’ soft skills at Strathclyde Business School. Programme participants get the opportunity to use VR goggles in simulations to see how they react to certain situations, for example, in a job interview setting. Students can then watch the subsequent recording to see how they reacted, giving them the opportunity to analyse their own behaviour. The result is an insight into their eye contact and body language when faced with circumstances they may not be familiar with. It is also said to provide a safe space for students to develop communication, teamwork and leadership skills. The technology in question comes from the Bodyswaps Research Programme, produced by Meta. Strathclyde Business School was one of several business schools in the UK and the US chosen to work with this technology. Other UK recipients of the programme’s VR headsets and six-month-pass to Bodyswaps’ VR modules include Duke University, Imperial College and Bayes Business School. Through its collaboration with higher education institutions, Meta is hoping to learn how students use VR technology and get valuable feedback on what works and what doesn’t, when it comes to enhancing the student experience. In addition, Strathclyde Business School will be doing its own research on how this technology is used by students. “We’ll look at how the students engage with it, how long they use it for and how often – all interesting for us in terms of our own research. We’ll also look at whether the programme provides valuable feedback and if it’s tailored to the students’ age, gender, cultural background and so on,” explained Sharon Lemac-Vincere, a senior teaching fellow at Strathclyde Business School’s Hunter Centre for Entrepreneurship. EB
10 | Ambition | DECEMBER 2023/JANUARY 2024
NEWS AND INSIGHT NEWS & INSIGHT
APPETITE BECOMES EXPECTATION IN NEW HYBRID AND REMOTE WORKING STUDY
SCHOOL: JE Cairnes School of Business and Economics, University of Galway COUNTRY: Ireland
The shift in working cultures worldwide over the past three to four years has become so pronounced that employees now expect remote or hybrid working options. In a survey of almost 6,000 workers led by JE Cairnes School of Business and Economics dean Alma McCarthy, 92 per cent of participants indicated that remote/hybrid working would be a key factor in their decision to change employer. This perspective is now a “sustained trend”, according to McCarthy, who referred back to the results obtained from prior surveys. “For those who can work remotely or hybrid for at least some of the time, being able to do so now plays a critical role in employer and job choice,” she added. Employees’ growing willingness to change jobs if their remote/hybrid working preferences are not facilitated by their current employer underline the importance of this factor. A total of 55 per cent said they would seek new pastures to have better remote/hybrid working arrangements even if it meant fewer promotion opportunities, up from 37 per cent in the 2022 survey. Meanwhile, 44 per cent said they would change jobs even it meant accepting a lower salary, up from 30 per cent in 2022.
Right now, only three per cent are working fully on-site, according to this year’s survey, with 59 per cent currently engaged in hybrid working arrangements and 38 per cent working remotely on a full-time basis. The annual surveys of professionals in Ireland have been conducted in conjunction with the Western Development Commission. Its chief executive, Allan Mulrooney, pointed to remote and hybrid working’s impact on mobility and prosperity outside the country’s biggest cities: “Remote work has paved the way for novel opportunities in talent attraction and retention, luring young families and new talented workers to revive regions that have borne the brunt of depopulation and declining job prospects for many years. If we persist in prioritising and fostering an environment conducive to remote work, the lasting impact, particularly in rural areas, is undeniable.” In the new survey, 14 per cent indicated that they have relocated within Ireland since Covid-19 because they can work remotely. Among those, 63 per cent relocated from Dublin. TBD
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA’s content editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
Ambition | DECEMBER 2023/JANUARY 2024 | 11
45% of respondents chose a business programme to differentiate themselves in the job market
40% of those questioned say earning more money in the long term is a consideration when studying for a business degree
91% of students hope to work in one of the ‘big three’ industries – consulting, finance or technology
12 | Ambition | DECEMBER 2023/JANUARY 2024
AMBA & BGA RESEARCH
State
A new study of AMBA & BGA’s global membership shows how today’s students choose and experience business school programmes. It also highlights their career ambitions and working preferences. Words and analysis by Ellen Buchan and Tim Banerjee Dhoul of play T oday’s business and management students take several factors into account when selecting a business school programme and tend to be realistic in how quickly they expect to see a financial return on their investment, according to a new study from AMBA & BGA. The AMBA & BGA Student Survey 2023: Aspirations & Programme Experiences also shows which aspects of their studies they are most enjoying – ranging from their favourite course subjects to career development and networking opportunities – and what they hope to do with their qualification on graduation. This is the first of four reports drawn from a single survey that canvases AMBA & BGA members across the world to produce a dedicated analysis for students, graduates and employers, as well as a comparative final report. The first instalment aims to offer an insight into what being a business student is like in an era of flux, for both the higher education industry and the wider world as a whole. Students eye long-term return on investment To begin with, AMBA & BGA’s survey asked students about their prior experience and reasons for wanting to enrol in their current programme of study. First, they were asked how many years of work experience they had
Ambition | DECEMBER 2023/JANUARY 2024 | 13
Which core aspects of your business programme interest you the most?
FIGURE 7: WHICH CORE ASPECTS OF YOUR BUSINESS PROGRAMME INTEREST YOU THE MOST?
61%
Developing business skills
57%
Networking opportunities
International opportunities and outlook
55%
Career development opportunities
53%
51% 50%
Developing people management skills
Learning from industry experts
57% of participants cite networking opportunities among their most-valued programme elements
Learning from other students
49%
Improv ing soft skills
46%
43%
Entrepreneurship Learning about the wider world and business (eg issues related to climate change and poverty) Learning finance skills
38%
35%
29%
Learning about emerging technologies
2%
Other (please specify)
0
13
26
39
52
65
More altruistic reasons for studying are also in evidence. Over a quarter (27 per cent) are pursuing their management programme to understand how to run a business for the greater good of society, for example, while 19 per cent want to learn how to run an ethically sound business. Other reasons shared by students indicate a variety of individual motivations for undertaking management education, including gaining citizenship and the sheer enjoyment of learning. Targeted applications predominate Moving on, the survey enquired about the number of programmes to which each respondent applied. Half of the participants (50 per cent) applied to just one programme, indicating a clear preference for a specific programme at a specific institution. A total of 22 per cent applied to two programmes, while 11 per cent applied to three programmes, four per cent applied to four programmes and eight per cent applied to more than four programmes. A small proportion (three per cent) were o ered a place and did not need to apply. The remaining eight per cent selected ‘other’, potentially indicating participation in a company-sponsored programme that required no application. The amount of o ers received closely mirrored the application numbers. Slightly over half (51 per cent) received one o er,
before they enrolled. Results reveal a diverse range of prior experience – approximately 22 per cent of the participants have four to six years’ experience, while another 22 per cent have seven to 10 years’ experience. A similar proportion (18 per cent) of students have zero to three years’ experience. Subsequently, the survey explored the reasons behind participants’ decisions to pursue their qualification. The most common reason students choose to study a business programme is to expand their areas of expertise, with 74 per cent of respondents citing this motivation. Additionally, 67 per cent of students want to acquire more skills and knowledge about the business world. Improving business and professional contacts is, meanwhile, a significant factor for 46 per cent of participants, while 45 per cent seek to di erentiate themselves in the job market ( see chart on page 16 ). Intriguingly, student respondents have a clear eye on the longer-term outcomes of undertaking a business programme. A total of 40 per cent say earning more money in the long term is a reason for pursuing their studies, while only 11 per cent cite short-term financial gains as a motivator. This suggests that students view their education as a long-term investment in their future, rather than a quick route to financial gain. 14 AMBA & BGA Student Survey 2023
As depicted in Figure 7, students’ top interest – cited by 61 per cent of participants – relates to developing business skills. Other popular choices include networking opportunities (cited by 57 per cent), international opportunities and outlook (55 per cent) and career development prospects (53 per cent).
Fewer students are most interested in their programme’s coverage of emerging technologies (29 per cent) and entrepreneurship (35 per cent), as well as broader world and business-related topics, such as issues related to climate change and poverty (38 per cent). The survey then delved further into course content to enquire about the individual topics within business programmes that interest today’s students the most.
14 | Ambition DECEMBER 2023/JANUARY 2024
AMBA & BGA RESEARCH
23 per cent received two o ers, 13 per cent received three o ers, four per cent received four o ers and seven per cent received more than four o ers. The remaining two per cent selected ‘other’ in this section, again suggestive of a company-sponsored programme. Multiple factors behind enrolment The subsequent question explored programme elements that influenced students’ decision to enrol. Results here reveal that a programme’s accreditation plays a particularly significant role in the decision, with 51 per cent of respondents citing it as a key factor. Other influential factors include a programme’s reputation among businesses (39 per cent), its ranking (39 per cent), options for specialisation (38 per cent) and the quality of teaching (37 per cent). Less commonly cited reasons for enrolling in programmes are the quality of other enrolees (10 per cent), a programme’s focus on ethics (11 per cent) and expected post-graduation salaries (13 per cent). Additional reasons given among respondents who selected ‘other’ when answering this question include location, timing, tuition fee sponsorship from an employer, scholarships and programme flexibility. Overall, it’s clear that students take several factors into account when choosing their business programmes, ranging from programme reputation and quality to practical aspects, such as programme delivery and financial support options. Expectations and interests The next part of AMBA & BGA’s student survey focused on analysing their programme experiences to date. When student respondents were asked whether they continue to work during their studies, the majority (81 per cent) said they are indeed balancing study with existing work commitments. Specifically, 67 per cent said they are working full time and 15 per cent work part time, while only 18 per cent are not working while studying. In general, participants express positive sentiments about their chosen business programmes. A significant proportion of 35 per cent report that their programme completely exceeds their expectations, while 18 per cent indicate that it partially exceeds their expectations. A further 35 per cent find their chosen programme to be in line with their expectations. Only a minority (10 per cent) feel their programme is falling short of expectations, with a further two per cent reporting that it is completely falling short of their expectations so far. Comments from students who feel that their programme is exceeding expectations include the following: “The programme has o ered valuable company visits, international residencies and guest speakers, enhancing the overall experience”; “skills attained from the programme have enabled me to start a successful business”; and “the programme has facilitated networking opportunities and equipped myself and my fellow participants to solve real-life work problems e ectively.” Conversely, participants who feel their programmes are falling short of expectations cite concerns that include a “lack of peer
FINDINGS SNAPSHOT
Student views prior to enrolment 40 per cent of students say earning more money in the long term is a consideration for studying for a business degree – only 11 per cent say earning more money in the short term is a factor. Half of students say they only applied to one programme and a similar proportion received a single o er. Students’ programme experience 81 per cent of student respondents continue to work during their studies. 57 per cent of students say networking opportunities are the aspect of their programme that interests them most, while 46 per cent say it is the chance to improve their soft skills. Popular course topics among student respondents include general management (cited by 52 per cent ), finance ( 46 per cent ) and change management ( 39 per cent ). Student ambitions post-graduation Traditional industries remain attractive, with 41 per cent of students keen to work in consultancy post-graduation and 26 per cent interested in pursuing careers in banking or financial services. New ways of working are expected – 64 per cent want a hybrid working pattern when they graduate and nine per cent would like to find fully remote employment. Only 23 per cent state a preference for full-time o ce work.
81%
52%
64%
Ambition DECEMBER 2023/JANUARY 2024 | 15
contribution”; “an overly academic approach”; and “the need for a more international, rather than just regional, focus.” The survey then enquired about aspects of the programme that most interested students. As depicted in the chart on page 14, students’ top interest – cited by 61 per cent of participants – relates to developing business skills. Other popular choices include networking opportunities (cited by 57 per cent), international opportunities and outlook (55 per cent) and career development prospects (53 per cent). Fewer students are interested in their programme’s coverage of emerging technologies (29 per cent) and entrepreneurship (35 per cent), as well as broader world and business-related topics, such as issues related to climate change and poverty (38 per cent). Top topics are generalist in nature The survey then delved further into course content to enquire about the individual topics within business programmes that interest today’s students the most. Results here, as shown in the chart on page 17, highlight a good spread of interest across the most common topics
found in management education, which all appealed to at least one in five responding students. Unsurprisingly, among a sample dominated by those undertaking postgraduate generalist business degrees, the three most popular topics are the all-encompassing areas of general management (cited by 52 per cent), strategy execution (49 per cent) and global leadership (47 per cent). Meanwhile, topics identified among the three per cent who cited ‘other’ areas of interest when answering this
question include managing corporate reputation, the circular economy and artificial intelligence.
‘Big three’ industry sectors favoured The next part of the survey explored students’
ambitions on completion of their programme. It’s clear from this set of results that many students undertake a business degree or programme to enact a career change. For example, a quarter of responding students say they want to move to a new company in the same sector and take on a di erent job function. Another 18 per cent aim to switch to a new company in a di erent sector while maintaining a similar job function.
FIGURE 3: WHY DID YOU CHOOSE TO STUDY A BUSINESS PROGRAMME? PLEASE SELECT ALL RESPONSES THAT APPLY
Why did you choose a business course?
74%
To increase my international mobility (eg work abroad/establish an international career) To get a broader understanding of how businesses should be managed To change career, for example, a different sector or function To learn more skills and knowledge about the business world To improve my business/professional network contacts To help differentiate myself in the job market To expand my area of expertise
67%
46% 45% 45% 44% 44%
40%
To earn more money in the long term
35%
To build my confidence
27% of management students want to learn how to run a business for the greater good of society
31%
To learn about developing a sustainable business To achieve a promotion
29% 27%
To learn how to run a business for the greater good of society
26%
To equip me to start my own business
24%
To learn about how to run an ethically sound business To learn how to run a more profitable business
19%
11%
To earn more money in the short term
2%
Other (please specify)
0%
Don’t know
0
10
20
30
40
50
60
70
80
The survey revealed that the most common reason students choose to study a business programme is to expand their areas of expertise, with 74 per cent of respondents citing this motivation.
This suggests that students view their education as a long-term investment in their future, rather than a quick route to financial gains.
16 | Ambition DECEMBER 2023/JANUARY 2024
More altruistic reasons for studying are also in evidence.
AMBA & BGA RESEARCH
Advancement to a more senior role in the same company, meanwhile, is the goal for 16 per cent of respondents. Elsewhere, the proportion of students looking to launch their own business directly after graduation is 14 per cent, with a further one per cent intending to establish a non-profit organisation. The survey then asked students which industries they would like to work in on completion of their business programme. The so-called ‘big three’ industries of consulting, finance and technology are the top three sectors of interest. An overwhelming 91 per cent majority of students are interested in working in at least one of these three industries. Closely related to the wider ‘technology’ description, IT is the fourth-most popular industry sector and of interest to 22 per cent of students. Other industries of interest include energy (a target for 17 per cent of respondents) and NGOs (14 per cent), as well as healthcare and pharmaceuticals (each of which is a target for 10 per cent). Hybrid work now an expectation Finally, due to the increase in di erent modes of working implemented during the pandemic, AMBA & BGA sought to understand how students would like to work when they graduated. The survey results indicate that students’ preferred working mode post-graduation is a hybrid model that combines o ce and remote work. This option was chosen by 64 per cent of respondents. Only 23 per cent of students would like to work full time in the o ce, while nine per cent are aiming to embrace remote work opportunities on a full-time basis and four per cent aspire to life as a digital nomad. Review and alignment The results of this report showcase students’ wide-ranging reasons for embarking on their business school journey, from developing key skills and expanding expertise to networking opportunities, gaining international experience and enhancing career prospects. We know that student interests and expectations evolve and business school leaders must, therefore, ensure that their o erings are reviewed and modified accordingly. Here, the report o ers several areas that may warrant the attention of those looking to fine-tune programmes and marketing strategies, so that the educational experiences their institutions provide continue to align with students’ aspirations. Another noteworthy result is that 50 per cent of students apply to a single programme. This suggests that students are targeted in their approach and may be willing to forgo enrolment altogether if their programme of choice is not available, rather than to settle for one that doesn’t align with their individual needs and ambitions. This highlights the importance of business schools marketing the unique selling points of their programmes e ectively to stand out in an increasingly competitive market. To download the AMBA & BGA Student Survey 2023: Aspirations & Programme Experiences in full, please visit the AMBA website at www.associationofmbas.com/research
FIGURE 8: WHICH TOPICS IN YOUR BUSINESS PROGRAMME INTEREST YOU THE MOST? Which topics in your business programme interest you the most?
General management Strategy execution Global l eadership Finance Strategic marketing Innovation Operations management Change management Global strategy Data analytics for managers People and organisations
52%
49%
47%
46%
45%
39% 39% 39%
36% 36%
34%
Business ethics Digital strategy Sustainability Entrepreneurship Economics Data & analytics Accounting Strategic human resource management Statistics Supply chain management Other
33%
32%
31% 31%
29%
27%
21% 21% 21%
20%
3%
0
13
26
39
52
Results here, as shown in Figure 8, highlight a good spread of interest across the most common topics found in management education, with all suggested areas of particular interest to at least one in five responding students. Unsurprisingly, among a sample dominated by those undertaking postgraduate generalist business degrees, the three most popular topics are the all- encompassing areas of general management (cited by 52 per cent), strategy execution (49 per cent) and global leadership (47 per cent). METHODOLOGY
Topics identified among the three per cent who cited ‘other’ particular areas of interest include:
• Managing corporate reputation
•
Circular economy
•
Artificial intelligence
The results of this series of reports are based on a
survey of 1,120 student and graduate members from the Association of MBAs (AMBA) and Business Graduates Association (BGA) networks, carried out between April and June 2023. Of this number, 544 respondents (49 per cent) identify as current students – the focus of this particular report. Among participants, 88 per cent are master’s-level students, with the remaining
15
AMBA & BGA Student Survey 2023
programme being undertaken, representing 58 per cent of respondents, with a further 14 per cent enrolled on an executive MBA (EMBA). Most were set to graduate this year (68 per cent), while 20 per cent are due to complete their studies in 2024. The gender distribution of participants is 63 per cent male and 36 per cent female, (with one per cent preferring not to disclose their gender) and those surveyed represent 94 di erent countries.
12 per cent split equally between undergraduate and PhD students. The MBA is the most popular
| 17 Ambition DECEMBER 2023/JANUARY 2024 | 17
STRATEGY
Not all outdoor learning focuses on physical team-building activities. Adam Smith Business School senior lecturer Matt Offord introduces us to ‘ecopedagogy’ – a growing teaching approach centred on our social and natural environments that connects management theory and concrete experience great The outdoors
18 | Ambition | DECEMBER 2023/JANUARY 2024
PEDAGOGYW PEDAGOGY
S
important educational technology in history. Before classroom teaching, people primarily learned from each other on a one‑to-one basis. This is often described as an ‘apprenticeship model’. In principle, we learn more effectively this way. Yet when the classroom emerged, somewhere in the distant medieval past, there was no turning back. Over the centuries, a greater amount of technology was used but the basic model has hardly changed. In a business school, there are many complex topics that require specific technologies, much as the sciences often use labs for teaching. However, the question remains: Have we become too dependent on indoor surroundings? Our migration from outdoors to indoors has, coincidentally, happened just as the environment became so important. Did our seclusion within our infrastructure lead to a failure to notice what was happening outside? Of course, education was just one area that became industrialised. In the world of business and commerce, a new scientific approach that emphasised planning, organising, leading and controlling came into ascendancy. Now,
tanding in the cold October rain in Glasgow, Scotland’s biggest city, I am reminded that outdoor learning is not always as exciting as it sounds. Currently, I’m looking out for delivery vans. Why is that, you may ask? Because I am planning a campus field trip for an undergraduate course that I teach. The lecture will be to discuss the role
of compassion in business, using a case study about Amazon. Students will be asked to observe delivery vans operating in the area and how they behave. What sort of working environment do the drivers operate in and how does this affect their behaviour? In this way, the exercise draws a neat connecting line between management theory and concrete experience. If the Covid-inspired dissolution of the campus in 2020 has taught us anything, it is how dependent we are on the classroom. The classroom is probably the most persistent and
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Ambition | DECEMBER 2023/JANUARY 2024
We tend to think of expensive field trips and character building in the wilderness, but this is not always inclusive or a ordable. Risk assessments can be a headache, but consider the risk profile of sending students back to the campus they have already crossed to get to your lecture. The built environment can be just as stimulating as the wilderness. From a management studies perspective, there is plenty of inspiration there. The challenge is for students to feel like this is a di erent and engaging environment. This requires that they are encouraged to see the built environment anew. To do this, I ask them to notice things they may not have done before. The names of buildings, the scars caused by climate change, the behaviour of people around them. In this way, learners become de-familiarised with their environment and start to think critically. Thinking flexibly about experience The idea of wilderness challenges will be daunting to many business educators. Additionally, there are risks to be considered. Large class sizes rule out many courses – I would not like to take 400 students into the wilderness. Expense will also be an issue. I have been fortunate enough to run a fully outdoor experience for 14 students on the bonny banks of Loch Lomond. It was the day that a teaching experiment became a passion for me. However, my business school could not do that alone; we needed serious professional help in the form of great facilitators and adventurers to maximise the value of that experience. The element that was unseen and did not do the rounds on social media was the risk management. Giving learners a safe environment to learn in without focusing constantly on their own safety requires serious preparation. Thankfully, the outdoors does not mean wilderness. The built environment provides many opportunities for critical reflective thinking, especially for business education. Just a few yards from the campus there are… guess what? Actual businesses. This is, after all, what we teach about and research. A few minutes spent observing businesses, patterns of human behaviour, climatic scars, wear and tear and other artefacts can encourage students to become observant and critical management thinkers. Many management disciplines can be practised outdoors. For example, I created a bespoke field trip for students studying risk as part of their MSc in sustainable tourism. We use local tourism sites as venues to conduct actual risk assessments. The difference with outside learning Inaccessible teaching is not an option indoors – and it is not an option outdoors either. As mentioned, ecopedagogy di ers from ‘character-building’ or ‘team-building’ exercises that take place outside. Learning from these events is usually personal and internal and done properly they can support personal growth. As business educators, we are usually more interested in external knowledge and ecopedagogy is not usually about teaching something di erent to traditional teaching; it just does it in a di erent way.
management education stresses the importance of sustainability and responsible management. But can management students understand these concepts by looking at PowerPoint slides and listening to management theories from 19th-century thinkers? The ecopedagogy approach The term ecopedagogy relates to teaching about the social and natural environments and learning about the world by being in it. While it is not explicitly about outdoor learning, it is, in practice, hard to do in a classroom. Escaping the classroom is central to ecopedagogy. It is future-oriented, ecological and political. Originating from the educator and philosopher Paolo Freire, the modern form of ecopedagogy also takes inspiration from experiential learning theory and critical pedagogy of place, along the lines of Ellen Bayer and Judson Byrd Finley’s Out of the Classroom and into the Wild chapter in their co-edited 2022 book Ecopedagogies . It is an approach centred on our planet, with a special interest on place and experience. This separates it from common perceptions of outdoor learning as a team-building, character-forming or physically challenging pursuit. Ecopedagogy is not a challenge to “climb every mountain” and “ford every stream”, as the song from The Sound of Music goes. This distinction is worth mentioning as it is a misconception that can be extremely unhelpful when securing funding or encouraging outdoor learning. There are three main ingredients for any ecopedagogy project: challenge, reflection and group discussion. The challenge is psychological, not physical. Outdoor learning should be accessible to all, regardless of physical disability, fitness level or neurodiversity. However, I find that many students find the idea of learning outdoors challenging in itself and tend to resist it. When I tell learners 30 minutes into a lecture to walk out of the room and find a building on campus named after a woman, confusion, disbelief and resistance are always a feature. I will explain later how I managed to overcome this. But thwarting these challenges is genuinely formative for students used to passive learning. This can only be of value when learners reflect on their experience. Consequently, ecopedagogy emphasises the role of journaling. It is vital that students record their observations on paper, audio, as photos and so on – however they want. On my courses, I ask students to submit field notes weekly and these build into their graded assessment. It is a joy, for example, to see an online forum with 250 posts. I run short campus field trips of 30 minutes midway through my lectures. Students leave and arrive in groups (although it’s worth pointing out that I never organise them into these groups) and the group discussion provides a rich learning experience. Let’s unpack these campus field trips. I got the idea of such trips from Summer Harrison’s description of de-familiarising everyday environments, mentioned in the Field Journaling in the Wild chapter in the Bayer and Finley book cited above. Campus field trips are an e ective way to bring outdoor learning into your teaching.
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