Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.
ISSUE 1 2024 VOLUME 19
THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION (BGA)
LEADERS NEVER STOP LEARNING
In pursuit of purpose
How experiential learning can set students on the path towards becoming a responsible leader
• MBM ADMISSIONS RESEARCH HIGHLIGHTS GENDER DIVERSITY • GRADUATES REFLECT ON THEIR BUSINESS SCHOOL EXPERIENCE • MAKING THE MOST OF INCUBATORS AND ACCELERATORS
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PRAGUE, CZECHIA, 20-21 JUNE 2024
Over two days, business school professionals will come together to take advantage of extensive professional development and networking opportunities
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AMBA & BGA ACCREDITATION FORUM 2024
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Contents ISSUE 1 • 2024 • VOLUME 19
30 ALUMNI ACHIEVEMENTS Four graduates of Egade in
05 EDITOR’S LETTER Schools’ role in nurturing responsibility and helping students set their direction 06 BUSINESS BRIEFING The latest research, news and initiatives from members of the BGA network worldwide 10 EYES ON THE PRIZE
Mexico share key takeaways from their business school experience 36 SPOTLIGHT ON SCHOOLS University Canada West’s history and offerings profiled 38 GUEST COLUMN How organisations can narrow the execution gap on climate impact 41 WEBSITE ROUND-UP Highlights from BGA’s online hub 42 FROM THE CEO The value of award nominations
Details of all the winners of AMBA & BGA’s annual
18
management education awards across 11 different categories
14 STRIKING A BALANCE Pre-experience master’s cohorts in Europe are notably near to achieving gender parity, according to AMBA & BGA data 18 COVER STORY AT SOCIETY’S SERVICE How Goa Institute of Management ensures that all students experience what being a responsible leader entails 26 STACKING UP TO STAND OUT Insights into the strategies and practicalities behind micro-credential initiatives
14
22 HELPING HANDS Alliance Manchester Business School’s Robert Phillips on supporting students’ start-up aspirations with incubators and accelerator programmes
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Business Impact • ISSUE 1 • 2024
EDITOR’S LETTER
EDITORIAL
Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com Head of editorial Colette Doyle c.doyle@amba-bga.com
THE POWER OF PURPOSE How schools can meet market trends and facilitate the path to purpose and social responsibility
Art editor Sam Price
Sub-editor Heather Ford
W e know that of the more traditional markers of success. The four interviews we feature in this issue of Business Impact , with alumni of Mexico’s Egade Business School, provide perfect evidence of this ( page 30 ). “I’m looking forward to leveraging this position to craft solutions that can resonate with, and improve the lives of, millions across the region,” writes one recent today’s business students want to pursue purposeful careers, as well as to achieve some graduate, when asked what their next steps are. “It is incumbent on us to build better communities – and better generations,” summarises another. Our third interviewee is leading a Mexican multinational’s net zero carbon strategy, while the fourth is an entrepreneur in the renewable energy space. It’s clear, then, that approaches to business, as well as the career possibilities themselves, are evolving, with purpose pushed to the forefront. Of course, purpose and indeed, social consciousness, need not derive solely from an individual’s motivations. It can be inspired and awakened by their business school experience. This is the logic behind Goa Institute of Management’s (GIM)
Insight, content & PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Membership director Victor Hedenberg v.hedenberg@amba-bga.com BGA membership & account manager Ben Maheson b.maheson@amba-bga.com Senior marketing executive, BGA Shareen Pennington s.pennington@amba-bga.com Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
“SOCIAL CONSCIOUSNESS CAN BE INSPIRED AND AWAKENED BY A BUSINESS SCHOOL EXPERIENCE” compulsory service-learning course that takes students into the field to work on community projects. “For many students, such experiences play an important role in shaping their mindsets and life aspirations, providing them with purpose and direction beyond the mere pursuit of a livelihood,” write GIM professors Divya Singhal and Padhmanabhan Vijayaraghavan ( page 18 ) in our cover story. We also know that the current crop of students demand flexibility, in their study choices and learning modes. With this in mind, we hear how micro-credential initiatives at Cranfield School of Management and Birmingham Business School seek to tap into a changing market, while bolstering an institution’s international reputation ( page 26 ). Lastly, to identify trends in cohort profiles, we present the findings of our latest deep dive into AMBA & BGA’s pool of admissions data for master’s in business management programmes ( page 14 ).
Head of marketing and communications Leonora Clement l.clement@amba-bga.com Finance and commercial director Catherine Walke r
Director of accreditation and director of BGA services Mark Stoddard
Chief executive o cer Andrew Main Wilson
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com GENERAL ENQUIRIES info@businessgraduatesassociation.com
Tim Banerjee Dhoul Editor , Business Impact
Copyright 2024 by The Association of MBAs and Business Graduates Association . All rights reserved. Material may not be reproduced without the permission of the publisher. While we take care to ensure that editorial is independent, accurate, objective and relevant for our readers, BGA accepts no responsibility for reader dissatisfaction rising from the content of this publication. The opinions expressed and advice given are the views of individual commentators and do not necessarily represent the views of BGA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. BGA makes every opportunity to credit photographers but we cannot guarantee every published use of an image will have the contributor’s name. If you believe we have omitted a credit for your image, please email the editor.
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Business Impact ISSUE 1 2024
BRIEFING Employees concealing knowledge, cryptocurrency investment and the launch of a cross-continental healthcare management programme feature among our latest selection of updates. Complied by Tim Banerjee Dhoul, Ellen Buchan and Colette Doyle THE LATEST NEWS FROM ACROSS BGA’S NETWORK Business
STUDY REVEALS HIDDEN DEPTHS OF KNOWLEDGE-SHARING AT WORK
phenomenon of ‘knowledge hiding’ and offer guidance to leaders wishing to curb the problem. Based on three surveys, its results reveal that men are more likely than women to intentionally conceal knowledge from colleagues. Specifically, men are more likely to engage in ‘rationalised hiding’, where one admits to concealing knowledge and cites a reason, such as privacy or confidentiality. Women are less likely to conceal information in this way, the research reasons, because society expects them to be caring and helpful. As such, any deviation from this carries the risk of unfavourable peer reactions. When women do engage in such behaviour, it is by use of ‘evasive hiding’, where information given is deliberately incorrect or incomplete. They might
also ‘play dumb’ and pretend not to know the answer to a request. The latter carries an even greater risk for women, the study says, as it can reinforce the stereotype of them lacking competence. The study’s conclusion is that managers must discourage practices likely to foster male tendencies towards knowledge hiding, such as those over- emphasising competition and goal achievement. It also recommends that leaders challenge gender-based stereotypes relating to competency and alleviate social expectations affecting female employees. Co-authored with Paola Zappa from University College London’s Global Business School for Health, the study was published in the Journal of Occupational and Organisational Psychology . TBD
SCHOOL Maynooth University School of Business COUNTRY Ireland
haring information and expertise at work is vital for efficiency and innovation.
S
However, some employees engage in hiding knowledge for reasons that might include competitiveness, organisational climate and their own personality. A recent study, led by Maynooth University School of Business associate professor Tatiana Andreeva, sought to find out who partakes in the
6 Business Impact • ISSUE 1 • 2024
NEWS & INSIGHT
“Miami Herbert students benefit
according to Natarajan. In addition, a locational USP can fuel career prospects, with Miami Herbert students said to benefit from the exposure the school offers to leading tech firms and participation in recruitment events, such as the Venture Miami Talent Summit and Venture Miami Tech Hiring Fair. The opportunities in healthcare technology were singled out as a particular point of interest by Natarajan. Indeed, venture capital investments in the sector across the South Florida region are estimated to have grown by around 370 per cent between 2018 and 2022 to reach $500 million, according to financial data company PitchBook. In another session at the workshop, professor of practice and former dean at Hult International Business School Henrik Totterman looked at what business schools might stand to gain by adopting the approach and ethos of Swedish multinational Ikea, as well as the lessons on offer from other impactful organisations, including Microsoft and Netflix. TBD from the exposure the school offers to leading tech firms and recruitment events such as the Venture Miami Talent Summit and Tech Hiring Fair”
LEVERAGING A BUSINESS SCHOOL’S LOCATION TO MAXIMISE STUDENT SUCCESS
The event, held at Miami Herbert, was a chance for business school leaders and professionals to discuss ways of identifying and making the most of an institution’s unique selling point (USP). The USP of Miami Herbert’s location, Natarajan explained, revolves around the city of Miami’s status as a diverse, global city and emerging tech hub. In marketing and admissions, these attributes can not only be leveraged in promotional materials, but also by holding events emphasising them and partnering with local companies of interest to prospective students. In programme curricula, location- tailored courses, guest talks and experiential learning can also draw on an institution’s strengths in this regard,
SCHOOL University of Miami Herbert Business School COUNTRY US
rom marketing and admissions to curricular programming, employment and alumni
F
engagement, a business school’s location offers wide-ranging opportunities to gain a competitive advantage, asserted University of Miami Herbert Business School professor and vice-dean Hari Natarajan at a recent BGA capacity-building workshop.
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Business Impact • ISSUE 1 • 2024
SCHOOL John Molson School of Business, Concordia University SHEDDING LIGHT ON INEQUALITY IN PURCHASING POWER
COUNTRY Canada
tudents from John Molson School of Business recently presented projects on consumer
S
INDIAN & US INSTITUTIONS COLLABORATE TO LAUNCH HEALTHCARE PROGRAMME
behaviour in the context of real-world sustainability issues in front of an audience of peers and industry judges. The undergraduate students were split into teams and asked to make one of the 17 United Nations Sustainable Development Goals the focus of their marketing module’s final project. One project looked into the so-called ‘pink tax’ that denotes higher prices for products marketed towards women. The students found that 45 per cent of women were not even familiar with the concept, showing the need to raise awareness on a point of continuing inequality. The projects and presentations are said to be an opportunity for students to apply their learning to business realities and gain valuable experience of addressing an audience. “It was empowering to speak to the crowd and be confident in my knowledge and research,” said second- year marketing student Samantha Sarazen. Marc Bishai, an event judge and a lawyer with the Quebec Environmental Law Centre, spoke glowingly of the projects: “I was impressed by the quality of the presentations and the level of the students’ engagement. With their rigour, these students have everything they need to rewrite the future.” EB
both IIM Indore and ASU campuses. Additionally, participants will have the chance to visit major Arizona hospital systems and healthcare facilities. IIM Indore director Himanshu Rai said that the collaboration embodies the ethos of the Indian concept of vasudhaiva kutumbakam , emphasising the global nature of education and knowledge sharing. “Our dedication lies in seeking solutions that meet the dynamic demands of the sector. In the wake of Covid-19, when healthcare emerged as a cornerstone, highlighting the omnipresence of leadership and management, our focus is to confront these challenges head-on,” noted Rai. He continued: “The programme unfolds in five stages, blending two on-campus modules at IIM Indore and one at ASU, as well as 40 hours of online live classes. This approach ensures a holistic understanding of crucial aspects, such as the economics of healthcare, healthcare
SCHOOL Indian Institute of Management Indore
(IIM Indore) COUNTRY India
IM Indore is to partner with Arizona State University (ASU) to introduce the
I
Global Healthcare Professional Programme (GHPP). The initiative aims to transform healthcare management by equipping medical professionals to navigate the complexities of modern healthcare. The course is an eight-month programme catering to doctors, healthcare professionals, hospital and health system executives, public health officials and health policy experts. It encapsulates a fusion of offline and online sessions, integrating real-world business use cases and immersive experiences at
operations, AI in healthcare, leadership and more.” CD
8 Business Impact • ISSUE 1 • 2024
NEWS & INSIGHT
SCHOOL La Trobe Business School, La Trobe University IS INNOVATION THE KEY TO ACHIEVING SUSTAINABILITY?
COUNTRY Australia
esearchers at La Trobe Business School are exploring how senior managers in heavy manufacturing
R
companies can drive innovation to achieve sustainability and cost-reduction goals. “With increasing environmental degradation, these managers are facing immense pressure to accommodate their environmental responsibilities and operate more cost-effectively,” explained Vida Siahtiri, the school’s professor of service management. Addressing differing opinions about the role of innovation, she said, “To date, there is little understanding of whether investing in both radical and incremental innovation is required to achieve environmental sustainability and cost-reduction goals.” Elaborating on the research further, Siahtiri noted that it “sheds light on the significant influence that senior leaders can exert in shaping an organisation’s trajectory towards innovation and environmental responsibility”. She concluded by saying that “leaders’ attitudes can unlock the benefits of radical and incremental innovation in promoting their company’s environmental sustainability. Our research offers valuable insights for organisations wanting to navigate the complex landscape of environmental sustainability and innovation.” CD
RESEARCH REVEALS THE GENDER GAP IN CRYPTOCURRENCY INVESTMENT
personality traits might impact the likelihood of someone investing in cryptocurrency. In a survey of around 1,500 people, men scored higher than women for ‘financial mastery’, indicating greater confidence in their ability to make financial decisions. “Our findings indicate that women may need further persuasion or education regarding the benefits and risks of crypto before considering investing in this type of currency. This knowledge can also be crucial for those tasked with regulating financial markets and protecting vulnerable consumers,” said marketing professor at UiA School of Business and Law Ellen Katrine Nyhus, who conducted the research with colleagues at UiA and Aarhus University in Denmark. The study’s recommendation is that companies and marketeers in the cryptocurrency space should focus more on informative and educational messages if they wish to appeal to women and start influencing traditional gender patterns and stereotypes within the financial investment industry. EB
SCHOOL School of Business and Law, University of Agder COUNTRY Norway
W hen bitcoin was introduced in 2009, revolutionising cryptocurrency, it was heralded as something that could fuel gender equality in the investment arena. However, such an impact has not materialised and men remain more likely to invest in cryptocurrencies than women. To gain a greater understanding of cryptocurrency culture, researchers from the University of Agder (UiA) studied the investment scene in Norway, a country often regarded as advanced in gender equality. It found that 12.5 per cent of men are currently willing to invest in digital currency, compared with just 5.64 per cent of women. In search of an explanation, the researchers considered how certain
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing Business Impact editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
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Business Impact • ISSUE 1 • 2024
Eyes on the
Egypt’s Eslsca University won two accolades designed for members of the BGA network, as an audience of more than 200 gathered in London to discover the winners of AMBA & BGA’s annual management education awards across 11 di erent categories. Tim Banerjee Dhoul reports prize
10 Business Impact ISSUE 1 2024
AMBA & BGA EXCELLENCE AWARDS
E slsca University in Egypt scooped two top prizes at this year’s ‘Oscars’ of management education, the AMBA & BGA Excellence Awards. The school was awarded the BGA Business School Impact Award for its contribution to upskilling Egypt’s public sector through a specialised MBA for government officials. In addition, undergraduate student May Al-Amir was named BGA Student of the Year for the role she has played in initiatives benefiting the wider university community and what the school describes as her “selfless spirit”. Victory for Eslsca came in two out of 11 categories of awards open to business school members of the AMBA & BGA networks, their students and graduates. Winners were announced at a gala dinner attended by the global business school community and members of the media, held in the UK capital in January. Speaking at the gala dinner and ceremony, AMBA & BGA CEO Andrew Main Wilson talked of his pride in being able to “celebrate exceptional innovations and successes in the higher management education industry”.
From top: AMBA & BGA CEO Andrew Main Wilson; the venue was the Park Plaza London Riverbank; Eslsca University’s Ali El Meligui accepted the BGA Business School Impact Award
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Business Impact • ISSUE 1 • 2024
George Iliev, AMBA & BGA accreditation director (left), presented the Entrepreneur of the Year Award to Gaetano Lapenta
BGA BUSINESS SCHOOL IMPACT AWARD Eslsca University, Egypt for Eslsca’s MBA governmental programme: transforming government public officials into change catalysts This programme invests in the education and training of government officials, with the aim of promoting effective governance and equipping the public sector with the latest business knowledge and trends. BGA STUDENT OF THE YEAR May Al-Amir, Eslsca University, Egypt May Al-Amir’s academic excellence, effective communication and problem‑solving skills set her apart as a true leader and contributor to the university community. The initiatives she has created, such as the introduction of Python courses, have positively impacted the educational experience for all. BEST CULTURE, DIVERSITY AND INCLUSION INITIATIVE, This MBA elective on racial injustice encourages students to think – in practical terms – about the mindset they are fostering today, to become an inclusive leader tomorrow. BEST INNOVATION STRATEGY AWARD, IN ASSOCIATION WITH KORTEXT Manchester Metropolitan University Business School, UK for Innovation in employability – a strengths‑based IN ASSOCIATION WITH BLUESKY EDUCATION Esade Business School, Spain for MBA elective: racial (in)justice By producing individual skills profiles that highlight strengths and boost confidence, the school has noted a 67 per cent increase in students being ‘career-ready’ at the start of their final year. approach to personal and professional development
Birmingham Business School, a BGA member institution, won the Best Business School Partnership Award for its work with Deloitte
Sonya Bachra-Byrne (right), University of Bradford School of Management MBA, received the AMBA Student of the Year award from AMBA & BGA chair Wendy Loretto
Egypt’s Eslsca University scooped two of the night’s prized accolades
Eslsca’s May Al-Amir (right) received the BGA Student of the Year award from AMBA & BGA membership director Victor Hedenberg
12 Business Impact • ISSUE 1 • 2024
AMBA & BGA EXCELLENCE AWARDS
BEST CSR AND SUSTAINABILITY INITIATIVE, IN ASSOCIATION WITH CESIM BUSINESS SIMULATIONS Egade Business School, Monterrey Institute of Technology, Mexico for Egade Action Week An annual multidisciplinary engagement initiative focused on the UN Sustainable Development Goals launched by the BGA member school in April 2023. BEST LIFELONG LEARNING INITIATIVE, IN ASSOCIATION WITH CANVAS BY INSTRUCTURE University College London (UCL) School of Management, UK for UCL MBA labs An initiative designed to bring students and alumni together with industry leaders to collaborate on real‑world issues and generate a cycle of lifelong learning. AMBA STUDENT OF THE YEAR Sonya Bachra-Byrne, University of Bradford School of Management, UK Through her involvement in mentorship and the school’s inaugural MBA summit, Sonya Bachra‑Byrne has strengthened relationships between alumni and current students at the University of Bradford School of Management, an AMBA & BGA dual-accredited business school.
BEST BUSINESS SCHOOL PARTNERSHIP AWARD, IN ASSOCIATION WITH PERLEGO Birmingham Business School, University of Birmingham, UK with Deloitte A long-running consultancy training week delivered by Deloitte that 98 per cent of applicants to the BGA member school’s MBA programme cite as a key attraction. POSTGRADUATE LEADERSHIP AWARD Lorna Conn, UCD Michael Smurfit Graduate Business School, University College Dublin, Ireland Lorna Conn has risen to become CEO of talent solutions company CPL, with 14,000 employees spread across 47 offices in 13 different countries. She is also the only woman on the executive committee of its parent company, the Tokyo‑listed Outsourcing Inc. START-UP OF THE YEAR AWARD Puneet Saini, University of Canterbury Business School, New Zealand for Script Sense Script Sense draws on cloud computing, process automation, machine learning and AI to positively impact patient outcomes and help mitigate prescribing errors, reducing the number of deaths that occur because of medicine‑related mistakes. ENTREPRENEUR OF THE YEAR AWARD Gaetano Lapenta, Polimi Graduate School of Management, Italy for Fybra Gaetano Lapenta’s executive MBA (EMBA) experience at this BGA member school enabled him to move from manager to impact entrepreneur with the launch of Fybra, a manufacturer of air quality products that draw on sensors and algorithms.
“May Al-Amir’s initiatives have positively impacted the educational experience for all”
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Business Impact • ISSUE 1 • 2024
Striking a balance T he latest MBM admissions research from AMBA & BGA highlights the full extent of female talent available to business among early-career students and graduates. Just under half (49 per cent) of those applying to 129 MBM programmes at business schools across Europe in 2022 were female, up from 47 per cent in 2021. Women also represented 49 per cent of those enrolling in MBMs in 2022, up from 48 per cent in 2021. In Spain, enrolled female students represented a majority of 62 per cent, up from 56 per cent in 2021.
The latest AMBA & BGA data reveals that there are just as many women as men poised to make their mark on the business world at the master’s in business management (MBM) level. Ellen Buchan and Tim Banerjee Dhoul report
The gap between MBM and MBA-level gender diversity
When compared to the equivalent figures at MBA level – the latest global estimate from AMBA puts female applications at 42 per cent of the total received – these findings support the view that interest in business and management training is just as pronounced among women as men at the common life stage of the pre-experience master’s degree. The implication is that the motivation and ability to enrol at business school still tails off slightly among women as they progress through their careers and gain experience, in comparison with their male counterparts. These findings derive from data compiled in conjunction with the latest AMBA Application & Enrolment Report . Specifically, it draws on the responses of 61 business schools worldwide that supplied data on admissions to their MBM programmes in the calendar year of 2022. Of these, 40 institutions are based in
14 Business Impact • ISSUE 1 • 2024
AMBA & BGA RESEARCH
understandably predominate and, indeed, an average of 83 per cent of applicants in France were categorised as domestic, as were 75 per cent of enrolled students. Elsewhere, it is a very different picture, most notably in the UK, where 99 per cent of those applying and 94 per cent of those enrolling in programmes are defined as international. In Spain, meanwhile, international prospects represented 84 per cent of applicants and 74 per cent of enrolments. Application and enrolment growth hinges on programme options On average, the number of applications to a business school’s full portfolio of MBM programmes at institutions in France, Spain, the UK and RoE was 4,921, while the average number received by individual programmes was 1,373. These figures vary considerably between countries and regions. In France, the influence of the prestigious grande école programmes shines through once more to produce the highest application numbers, at an average of 7,626 per school and 3,504 per programme. In Spain, on the other hand, the average number
Europe, affording the opportunity to conduct a deep dive into the regions’s prominent and distinctive market for these popular qualifications. By drawing on data from 2021, this article is also able to compare the fortunes of 36 business schools year on year. In so doing, it analyses MBM programmes in France, Spain and the UK separately, as well as a Rest of Europe (RoE) category that covers courses available at business schools in Germany, Poland, Monaco, Greece, Belgium and Italy. MBM programmes in Europe tend to attract applicants of diverse international backgrounds. Across the region as a whole, more than a third of all applicants and enrolled students (38 per cent in each case) fall under this category. However, this figure is brought down by France, where MBM programmes encompass the renowned grande école programmes that commonly take students through both bachelor’s and master’s cycles. As such, domestic applicants International diversity in business master’s degrees
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of applications received per programme was only 155. In addition, an average of 527 applications were received per business school in the RoE region. The average number of enrolled students across entire MBM portfolios among business schools in Europe was 605 and the average number of those enrolling in an individual programme was 169. France again produced the highest figures, with an average of 928 enrolments per school and 426 per programme, compared to averages of 152 per school and 56 per programme among institutions in RoE. In this light, year-on-year trends are best observed when looking at individual countries. In the UK, for example, application numbers to a business school’s entire portfolio of MBM programmes were up by 17 per cent between 2021 and 2022, while enrolled students increased by six per cent. In Spain, applications per school rose by 10 per cent and enrolled students swelled by 13 per cent. However, there were falls in the average number of students enrolling in individual programmes in both Spain and the UK. In the latter, this number dropped by five per cent, while in Spain it fell by 27 per cent, indicating that the greater overall numbers of applicants and enrolees observed were spread across a greater number of programme options. The reverse is true in France, where schools reported a slight fall in the number of programmes available between 2021 and 2022. This helps explain
METHODOLOGY
appreciation of the principles of responsible management, positive impact and lifelong learning. As part of the data compiled for the report’s latest iteration, 61 AMBA-accredited business schools provided data on MBM programmes on offer in the calendar year of 2022. Among these, 40 schools are based in Europe and 36 completed last year’s study with data for 2021. This allows figures to be compared directly between the same schools, year on year. A like-for-like analysis is the most accurate measurement of year-to-year trends, as it compares an identical set of schools that is not skewed by changes in the profile or participation of AMBA- accredited business schools. The number of programmes in this analysis, meanwhile, covers 129 programmes available in 2022, up from 123 programmes in 2021.
The annual AMBA Application and Enrolment Report examines the current state of the MBA market among the world’s leading providers. When supplying information on their MBA programmes each year, AMBA-accredited business schools also provide data on admissions to their portfolio of master’s in business management programmes (known as MBMs or MiMs). These postgraduate degrees are most often designed to provide a foundation for individuals starting a career in management and have been identified as a particular area of interest for members of the Business Graduates Association (BGA). One of the aims of BGA is to ensure graduates at all levels of business education commence their careers with a firm understanding and
THE PIPELINE OF FEMALE TALENT IN BUSINESS AND MANAGEMENT (ALL FIGURES FROM 2022)
Location
Proportion of women among enrolled students
Proportion of men among applicants
Proportion of men among enrolled students
Proportion of those citing ‘other’ among applicants
Proportion of women among applicants
Proportion of those citing ‘other’ among enrolled student s
France
49%
48%
49%
52%
3%
0
UK
50%
49%
50%
50%
0
1%
Spain
55%
62%
45%
38%
0
0
RoE
49%
51%
51%
48%
0
1%
Total
49%
49%
49%
51%
2%
0 (*due to rounding)
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AMBA & BGA RESEARCH
why applications to individual MBMs in France rose by six per cent, while the total number received for schools’ full portfolios fell by 12 per cent. Just over a third of MBM applicants receive an offer of a place Conversion rates indicate the percentage of applicants who ultimately enrolled onto a programme after submitting an application. In Europe, the average conversion rate for MBM programmes was 12 per cent in 2022. The highest conversion rate in Europe was in Spain, where schools recorded an average of 49 per cent, far higher than the nine per cent average reported by schools in the UK. Acceptance rates provide the percentage of MBM applicants receiving an offer from the school to which they had applied. In Europe as a whole, the acceptance rate was 37 per cent on average. France recorded the lowest acceptance rate, at 33 per cent, while the highest rate observed was in Spain, at 70 per cent. Yield, meanwhile, refers to the percentage of students who enrol after receiving an offer of a place. The average yield rate in Europe was 33 per cent. These figures differed considerably by individual country or region, with schools in RoE reporting a yield of 85 per cent, compared to 18 per cent among UK schools. This suggests that while applicants to programmes in some countries are targeted, in others the general trend is to apply to several business schools to secure a place on a reputable programme. How MBM programmes are taught Although the disruption caused by Covid-19 has lessened for most, AMBA & BGA continues to ask business schools for information on their intended and actual modes of delivery for each programme. The results here show that 70 per cent of MBM programmes on offer across Europe were taught in the classroom in 2022, up from 60 per cent in 2021. As a result, the use of blended, or hybrid, learning dropped from 36 per cent to 28 per cent. Programmes offered fully online, meanwhile, remained minimal, with two per cent of programmes delivered this way in 2022, down from three per cent in 2021. In Spain, 100 per cent of responding schools reported the use of classroom teaching for their MBM programmes. However, hybrid modes continued to be popular in the UK, where schools reported a relatively even split between the use of blended (50 per cent) and classroom learning (48 per cent).
LOCATIONS OF RESPONDING BUSINESS SCHOOL PROVIDERS OF MBM DEGREES IN EUROPE
France 47%
RoE 19%
UK 25%
Spain 8%
HOW MBM PROGRAMMES IN EUROPE ARE TAUGHT
Intended mode of delivery, 2021
11% 87%
2%
Most used mode of delivery, 2021
36%
60%
3%
Intended mode of delivery, 2022
7% 91%
2%
Most used mode of delivery, 2022
28%
70%
2%
Blended
Classroom Online
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society’s At
service
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EXPERIENTIAL LEARNING
GiveGoa is a long-running and mandatory component of the MBA at Goa Institute of Management (GIM) that covers wide-ranging areas of social responsibility, from financial inclusion and education to agriculture and accessibility. Divya Singhal and Padhmanabhan Vijayaraghavan explain how the initiative’s service-learning approach develops students’ awareness and understanding of what being a responsible leader entails
W ith the aim of providing holistic and continuous learning beyond the classroom, GIM launched the GiveGoa initiative in 2011. The initiative encourages students to step out of their comfort zone and use their skills to impact local communities positively. It is designed to instil responsibility and compassion in our graduates, aligned with our institute’s vision of creating transformative leaders who are focused on responsible, ethical and sustainable business practices. Action learning in the community GiveGoa is a service-learning initiative; an approach that enables business school students to gain knowledge and apply their theoretical learning to projects in support of community wellbeing. It also o ers students a deeper understanding of real- world challenges and the realisation that, as future leaders, they have a responsibility to contribute to societal welfare. For example, to help alleviate the number of deaths caused by rabies in India – estimated by the World Health Organisation to be up to 20,000 each year – students in the initiative have collaborated with community organisations to launch campaigns across village communities in the western Indian state of Goa that focus on the prevention of dog bites, as well as associated treatment and vaccinations. Their work has included street plays designed to communicate the importance of these measures e ectively. For many students, such experiences play an important role in shaping their mindsets and life aspirations, providing them with purpose and direction beyond the mere pursuit of a livelihood.
The assumption behind GiveGoa is that students not only learn about the circumstances and challenges faced by di erent communities, but that they also appreciate the need to address these problems and help communities implement the changes required to have a positive impact on people’s lives. In this way, the initiative is designed to help students become more socially aware and inclined towards taking responsibility for community wellbeing. A core component of the MBA GiveGoa projects span numerous areas, including education, social welfare, agriculture and public health, but are united in their aim of improving the lives of local communities across the state of Goa. Each project runs for a full year, in which students are given time to visit the eld, interact with the intended bene ciaries and understand the context of their project before they start work. This approach ensures a focus on immersive learning. In the curriculum, participation in a GiveGoa project makes up three of the four credits in a course taken by all students in the rst year of the school’s post-graduate Diploma in Management (PGDM and the equivalent of an MBA in India). The fourth credit, meanwhile, reinforces knowledge of key topics and challenges that will arise during the experiential learning project, with classroom discussions centred around lms and articles on social responsibility. Projects are assigned to groups of six students, in conjunction with partners that include government departments, banks and NGOs. Students visit the eld each week and work with their partner organisation to conduct studies and undertake activities that best serve the intended bene ciaries. In a service- learning model, site visits play an extremely signi cant role. The approach encourages students to study
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the importance of soil testing, the selection of pesticides/fertilisers and the development of soil maps for villages or specific areas within an individual village. These soil maps were then handed to the panchayat (local authority) to prompt any necessary action. To guide farmers on how to use the results of soil tests in decision-making regarding fertilisers, pesticides and crop selection, workshops were also conducted in collaboration with relevant government departments. Accessibility: In 2022, a project conducted in partnership with the Confederation of Indian Industry and Young Indians Goa engaged in an accessibility audit of automatic teller machine (ATM) spaces in Goa to check their level of inclusivity against guidelines given by the Reserve Bank of India (RBI). The guidelines state that at least a third of all ATMs in a locality should be accessible to people with a disability through the provision of proper signboards, ramps of suitable gradient, doorways wide enough for wheelchair access, space allowance, height of switches, height of doorknob handles, braille on all touchpoints and non-slip flooring. Students first underwent training to understand accessibility issues and challenges in relation to the provision of financial services. They then engaged in a background study to understand the RBI guidelines on ATM accessibility in the context of the Goa state population. Students also experienced sitting in wheelchairs to experience the space, access and mobility associated with different ATMs first-hand. Across 100 ATMs in the ensuing audit, the project group found that approximately 90 per cent lacked accessible ramps that met the required gradient criteria for wheelchair ramps. In addition, the majority did not have accessibility features, such as braille buttons and audio instructions that would support their use by persons with a disability. The project group’s visits and interactions with members of the community highlighted that most ATMs either had stairs or were built on elevated platforms, while those on levelled grounds often had their entrances blocked by a parking area. The students also learned there is a general perception that a disabled person will always be accompanied by someone trustworthy who will use the ATM on their behalf. This assumption fuels negligence of small infrastructural details that are required for accessibility. Their research also highlighted a lack
the community systematically to further their understanding of its members and the problems they are seeking to address. Here, it is important to use appropriate research methods and all students are expected to draw on data collection when identifying and developing solutions to a community’s challenges. Learning outcomes are evaluated through reflection reports and rubrics that measure students’ clarity in regards to the problems they are seeking to address and their projects’ conclusions and proposed solutions, as well as their understanding of the lives and circumstances of the intended beneficiaries. In the past 12 years, 527 student projects have been completed, making a tangible difference to the lives of less privileged communities. Here are a few examples of work undertaken in four different areas. Agriculture and livelihood: One horticulture-focused project sought to inspire the cultivation of vegetables through micro-farming. Students worked with the state-level Agriculture Technology Management Agency to interact with community members on a number of issues. These included linking producers to reputable hotels with guaranteed markets, mobilising female farmers into self-help groups and supporting people to learn new farming techniques. Additionally, students organised training sessions for village farmers to learn organic mushroom cultivation. Households began growing their own produce as a result of the project, showcasing its impact. A further GiveGoa project in this arena focused on improving agricultural productivity. Initiatives undertaken included educating farmers about
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EXPERIENTIAL LEARNING
across rural areas of the state of Goa. For example, students helped develop video content for school pupils during the Covid-19 crisis that could be viewed through smartphone. Given the high propensity of low-cost smartphones in rural areas, their e orts were of signi cant use to students in those locations. Another project, entitled Good touch and bad touch , centred on creating awareness around a topic that has traditionally been treated as taboo. Aimed at young children attending schools in rural areas, the students’ e orts succeeded in broaching a di cult topic and starting conversations in a safe environment. Lakshmi Sukhthankar, headmistress of a rural school in Goa that has received the support of a number of GIM student projects shared this message: “We have been associated with GiveGoa for about eight years. When I took over as headmistress, I observed that students, coming from rural backgrounds and often being the rst in their families to study, had a very myopic vision; the only profession that the students wanted to take up was that of police constables. However, through our association with GIM and the assistance of the school authorities, the student mindset has shifted and many have gone on to join professional institutions. Some have gained admission to Goa Medical College and engineering colleges, while others want to pursue acting, drama, music and other diverse career paths. This is a signi cant achievement that can, in turn, impact the generations to come.” The journey towards responsibility A common concern directed at business school students is that they lack awareness about the social environment of business and that this leads to a paucity of sensitivity and understanding of grassroots realities in their future careers. GiveGoa was rst introduced in the PGDM programme at GIM and then, when the school launched new full-time programmes, similar community immersion and experiential projects were incorporated into the curricula. This year, we have expanded the initiative’s reach beyond the state of Goa and are now running projects across India. This is because we believe that students must improve in the areas of social awareness and responsibility towards society. GiveGoa is a great opportunity for students to experiment and gain sensitivity in their journeys towards becoming responsible and empathetic managers.
of awareness among disabled people about their rights and the government’s guidelines relating to ATM access. Financial inclusion: Over the past 12 years, a number of student groups have participated in nancial inclusion projects. The primary objective of these has been to improve access to various nancial inclusion schemes among underprivileged segments of society, including those initiated by the government and banks, such as the Department of Animal Husbandry and Dairying and the National Bank For Agriculture and Rural Development. Engaging with communities, students have worked on raising awareness among farmers, self-help groups, vegetable vendors and school students regarding schemes that are available to them. Projects in this area have been instrumental in helping farmers to form joint-liability groups, enabling them to access government subsidies and bank loans, without the need for them to be landowners. Education: Student groups in the GiveGoa initiative have participated in content development, teaching and motivation programmes in government schools
Divya Singhal is a professor in the area of general management and public policy at Goa Institute of Management (GIM), where she also leads the Centre for Social Sensitivity and Action. Singhal was part of the founding team of the school’s GiveGoa initiative
Padhmanabhan Vijayaraghavan is an associate professor in the area of organisational behaviour and human resources at GIM, where he is also chairperson of the GiveGoa initiative. In 2023, a business case he authored was recognised as an Ivey Publishing Best Seller
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Alliance Manchester Business School senior lecturer Robert Phillips surveys the global accelerator and incubator landscape to identify how business schools and universities can best support their students’ entrepreneurial ambitions Helping hands
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ENTREPRENEURSHIP
T here are 440 incubators and Worldwide, there could be more than 10,000 of these supportive structures, according to the US National Business Incubation Association, with many of these based at universities and business schools. But what are the differences between incubators and accelerators, what types of start-ups do they benefit most and how do they fit 314 accelerators in the UK alone, according to a recent report from the Sutton Trust. These figures represent a considerable increase on estimates from 2017, when UK innovation agency Nesta counted 163 incubators and 205 accelerators. Incubators originated in the US in the 1960s as a way of boosting local economies and are generally a space (or virtual space) offered at below market prices where a start‑up can take their project forwards with varying levels of support. Initially, incubators focused largely on providing basic facilities and services, often simply real estate, but then evolved to include shared resources offering start-ups access to facilities and services that were not affordable at the early stages of their development elsewhere. within a university’s start-up ecosystem? The evolution of incubators Incubators can be run by universities for the benefit of their own research spin-out companies, as well as student start-ups. Corporations, meanwhile, can create incubators to harness innovation and offset the common concern of organisations losing their entrepreneurial spirit as they grow. Local authorities or governments might also run incubators to boost innovation and jobs in specific areas or regions. Today’s incubators have evolved further and often include mentoring, access to capital and centralised services, such as marketing and accountancy, allowing start-up leaders to concentrate on their business with fewer distractions. Many incubators also specialise in a certain industry, such as fintech or biotech, and
on the other hand, have evolved from the software industry and focus on the provision of services for companies who do not require use of a physical space or infrastructure. Metrics and indications of success Determining the success of incubators and the relevant metrics involved are likely to relate to their source of funding. Private, for-profit incubators make money from rent and occupancy rates or by taking an equity stake in the companies they house. Non-profit incubators, such as those funded by governmental or local authority bodies, as well as many of those operated by universities, can generate revenue from grant funding. Here, indications of success might include the number of successful projects served, survival rates for graduating start-ups and any impact they have had on the growth of jobs, as part of wider initiatives aimed at regenerating or diversifying the local economy. For a university incubator, an additional metric often revolves around its performance in building the university’s brand by contributing to the local economy and helping to commercialise university inventions for public impact. Examples within the higher education industry include the University of Oxford’s Startup Incubator and the Hatchery at University College London, each of which grants support to current students, recent graduates and university staff. Outside higher education, there are further graduate- friendly options, such as Station F in Paris – heralded as the world’s largest start-up campus – and the fintech- specialist incubator Level39 in Canary Wharf, London. In addition, a new incubator for African healthcare ventures aimed at students in sub-Saharan universities, FuturizeU, launched last year, with support from pharmaceutical giant AstraZeneca. Generally, incubators do not have a strict time limit for occupancy, but it is expected that successful companies will outgrow the incubator and ‘graduate’, leaving for a science park or other premises as the business expands. Incubators suit early-stage businesses that are yet to finalise their product. Their facilities and services allow these enterprises to develop in a supportive environment with a dedicated space – especially useful for biotech companies or other hi-tech companies that need development time. How accelerators differ While there is sometimes a degree of overlap in the definition between incubators and accelerators, there are some key differences. For example, an accelerator generally has a shorter and more clearly defined timescale of participation. This is often between three and 12 months, with the delivery of a structured programme of activities and less emphasis on real estate space.
this facilitates networking with potential customers, collaborators and suppliers at the incubator itself.
Capital-intensive ventures, such as those in the biotech space, require physical space and time to conduct and complete their research and have much to gain from incubators. Virtual incubators,
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