Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.
ISSUE 3 2024 VOLUME 21
THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION (BGA)
LEADERS NEVER STOP LEARNING
Making Waves Porto dean José Esteves on the school’s alignment with impact
• TRUE GRIT ON SHOW IN RESILIENCE TRAINING AT NEWTON UNIVERSITY • BRIDGING THE GAPS AROUND AI WITH AN INTERDISCIPLINARY APPROACH • OPTIMISING ONLINE EDUCATION IN CURRICULA DESIGN & INCLUSIVITY
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ABU DHABI
Join BGA for its upcoming capacity-building workshop in Abu Dhabi, UAE, where business school leaders and professionals will explore strategies for creating impactful partnerships. The event will also focus on ways of integrating international perspectives into curricula development to enhance student engagement and outcomes Attendance is free for one person from each BGA member institution. Scan the QR code to register for a place now DEVELOPING AND MAINTAINING EFFECTIVE BUSINESS SCHOOL PARTNERSHIPS CAPACITY-BUILDING WORKSHOP 10 OCTOBER 2024 | SOFITEL ABU DHABI CORNICHE, UAE
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Contents ISSUE 3 • 2024 • VOLUME 21
05 EDITOR’S LETTER
32 SPOTLIGHT ON SCHOOLS
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Examining a new emphasis on skills, plus how institutions are seeking to prepare students for tomorrow’s business realities 06 BUSINESS BRIEFING The latest news and research from BGA’s global network 12 COVER STORY POISED FOR IMPACT Dean José Esteves reveals how Porto Business School is making waves with a renewed focus on its societal contributions
A look at SolBridge International School of Business, an up-and- coming institution situated in a South Korean tech hub that emphasises a global outlook 34 GUEST COLUMN Four soft skills to concentrate on to help prepare students for real change in the future of work 37 WEBSITE ROUND-UP Highlights from our new website 38 VIEW FROM THE TOP Announcing the launch of a new networking platform, with groups for AMBA & BGA schools, as well as their students and graduates
18 FORGING FUTURE LEADERS
London School of Business and Finance dean Shahnaz Hamid discusses best practices around curriculum development and inclusivity in online education 28 TAPPING INTO TRANSFORMATIONAL TECHNOLOGY Alliance Manchester Business School’s Julia Handl outlines the value of an interdisciplinary approach in teaching students how to maximise AI’s potential
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22 GETTING TO GRIPS WITH GRIT
Newton University chancellor Anna Plechatá Krausová on the need for resilience and how her institution seeks to cultivate it in a challenging, yet safe environment
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ASIA PACIFIC CONFERENCE AMBA & BGA KUALA LUMPUR, MALAYSIA 24-27 NOVEMBER 2024
Taking place in the beautiful surroundings of the Mandarin Oriental, Kuala Lumpur , the AMBA & BGA Asia Pacific Conference for Deans and Directors will present, discuss and debate key issues for business schools in the Asia Pacific region over the next five years and beyond The full programme will be announced over the coming weeks. In the meantime, save the date or secure your place by booking now
amba-bga.com/events/apac-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
TEACHING FOR TOMORROW Skills take centre stage in this issue of Business Impact , with features emphasising the value of looking ahead to future demands and promoting interdisciplinary thinking
Art editor Sam Price
Sub-editor Heather Ford
Insight, content & PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Membership director Victor Hedenberg v.hedenberg@amba-bga.com BGA accreditation manager Richard Turner r.turner@amba-bga.com Senior marketing executive – digital lead Shareen Pennington s.pennington@amba-bga.com Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
T he disconnect between job requirements and applicants’ skills, as reported by employers around the world, will only be challenged further as the business sector continues to evolve at pace. For this reason, it was no surprise to learn that 73 per cent of recruiters say hiring based on skills is a priority, according to LinkedIn’s 2024 Future of Recruiting report. For business schools, the onus is therefore on ensuring graduates leave programmes with the skills currently sought by employers, as well as those that they are likely to need in the future. At Porto Business School, this requirement is categorised by an approach called ‘learning beyond now’, as dean José Esteves explains in our cover feature ( page 12 ). Being able to call on faculty expertise in other subject fields from the wider University of Porto helps “make sure that our focus isn’t limited to what students need to know in the present,” he adds. Similarly, the need for more rounded, interdisciplinary teaching is discussed by Alliance Manchester Business School’s Julia Handl in her article ( page 28 ) on managing and maximising the potential of artificial intelligence (AI). “Drawing
on a range of expertise and different disciplines,” she argues, will “equip students with the skills not only to use AI, but to analyse and, where needed, question its value when it comes to ethics, legality and other practical applications.” In Czechia, Newton University chancellor Anna Plechatá Krausová looks at an altogether different skill: grit. “We cannot ignore skills that have historically been assumed to be innate, simply because that means we don’t really know how to teach them,” she reasons, as she outlines her work in helping students build personal resilience ( page 22 ). It is certainly soft skills that continue to dominate conversations around perceived shortfalls in employers’ expectations for graduates. Here, one potentially useful framework for the future comes from our guest columnist this issue, Vinciane Servantie. She talks about the need to shift from a “risk-adverse mindset to an attitude of adventure” ( page 34 ), the idea being that each fresh crop of graduates will help companies “co-create a future” that works for both business and society. We hope you enjoy the issue.
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 officer Andrew Main Wilson
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com GENERAL ENQUIRIES bga-membership@amba-bga.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 3 • 2024
BRIEFING A new selection of research and initiatives from BGA member schools across the world, featuring innovative efforts to raise levels of financial education in Chile, the power and complexity of the global social media market and the business case for investing in mental health at work. Complied by Tim Banerjee Dhoul, Ellen Buchan and Colette Doyle THE LATEST NEWS FROM ACROSS BGA’S NETWORK Business VALUE OF COLLABORATION HIGHLIGHTED IN HUB’S NOMINATION
it will allow us not only to implement high-impact projects locally, but also to influence policies and practices at a regional and global level,” declared FEN dean Miguel Vargas Román. The wide-ranging initiative will explore ways of developing capacities in support of economies that can prioritise comprehensive wellbeing; identify how the Chilean economic ecosystem can advance towards a triple-impact model; foster alliances between public and private sectors, NGOs and academia to generate a co-created common vision; and promote the representation of gender equality and minorities in the creation of new economies. Executive director of the Sustainable Business Hub Luciana Mitjavila highlighted the value of being able to
“access an international network of collaboration. This means exchanging knowledge and best practices with other leading institutions in sustainability and entrepreneurship.” Monterrey Institute of Technology and Higher Education in Mexico, home to fellow BGA member Egade Business School, is another chosen centre. “This recognition not only validates our work, but also amplifies our ability to generate a positive impact
SCHOOL Faculty of Business and Economics Andrés Bello University COUNTRY Chile
he Sustainable Business Hub at Andrés Bello University’s Faculty of Business and Economics
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on the economy, society and the environment,” Mitjavila added. The initiative is the work of
(FEN) has been named as one of a handful of centres for economic innovation across Latin America in a new collaborative initiative aimed at accelerating the transition towards sustainability-driven economies. “The international connectivity that this appointment gives us is essential because
representatives from the Common Good Economy, Human Economy, Sistema B (B Lab’s Latin American global partner), Wellbeing Economy Alliance and other
economic, academic, public and multilateral stakeholders. TBD
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NEWS & INSIGHT
“Encouraging employers to invest in employee mental health can be challenging. Knowing that improving line managers’ knowledge, skills and confidence in managing mental health at work is linked to better business outcomes will help to highlight the strategic value of this approach to employers,” reasoned study co-author and reader at Queen’s Business School Juliet Hassard. “Mental ill-health at work is costly to organisations in terms of absence and lost productivity. To our knowledge, this is the first study to show that training line managers in mental health is linked to better business outcomes. This is an important finding that strengthens the business case for why employers should invest in mental health at work,” added principal investigator and University of Nottingham professor Holly Blake. The research analysed survey data from several thousand companies in England collected between 2020 and 2023 by the Enterprise Research Centre at Warwick Business School as a part of a larger programme of research on workplace mental health and productivity. EB “Improving line managers’ knowledge, skills and confidence in managing mental health at work is linked to better business outcomes”
STUDY SHOWCASES STRATEGIC VALUE OF MENTAL HEALTH TRAINING FOR MANAGERS
with better staff recruitment, retention and customer service along with fewer long‑term mental health‑related absences. In the UK, one in six workers experience mental health challenges and nearly 13 per cent of all sick days are attributed to these types of issues. The annual cost to UK employers is estimated at more than £50 billion. The potential for impact in this arena is therefore sizeable. The study concluded that all organisations should provide suitable training to line managers and have policies in place ensuring that they are aware their role must encompass supporting staff members’ mental health.
SCHOOL Queen’s Business School Queen’s University Belfast COUNTRY UK
ental health training for managers could help curb an acute problem in society,
M
according to a new study from researchers at Queen’s Business School and the University of Nottingham. It found that when managers received mental health training, there was a direct positive correlation
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community, while keeping their wallets happy,” commented Armouch. She wanted to understand the motivations that drive 18- to 35-year- olds to swap clothes and how culture impacts their decision to do so. This age bracket includes Generation Z and millennials, two groups shown to be the most environmentally conscious. The researchers found that there were no significant differences between continents and countries, showing that clothes swapping and collaborative consumption are global trends. Survey respondents cited the environmental benefits, while some were motivated by the anti-consumption aspect of swapping that makes it unnecessary to purchase new items. Paulin points out that Europe is ahead of the curve on sustainable practices in the second-hand clothing market and could serve as a model for North American cities. “Being more aware of socio-environmental challenges, 18- to 35-year-olds are redesigning the way people access fashion items and are developing new communities centred around a circular lifestyle and sustainable practices,” she noted. CD “People are revolutionising the way we consume fashion by focusing on the idea of expanding the lifespan of garments”
RESEARCH EXAMINES NEW-GEN MOTIVATION FOR CLOTHES-SWAPPING COMMUNITIES
Over the years, swapping clothes has evolved from an individual activity to a more co-operative practice. This shift is challenging traditional notions of resource allocation and transforming how people behave, according to a new article published in the Journal of Consumer Behaviour . The article was co-authored Michèle Paulin and Michel Laroche, both professors of marketing at John Molson School of Business, Concordia University. “It was fascinating to me to see how people are revolutionising the way we consume fashion by focusing on the idea of expanding the lifespan of garments and building a sense of by Farah Armouch, as part of her master’s thesis with supervisors
SCHOOL John Molson School of Business, Concordia University COUNTRY Canada
he fashion industry is responsible for nearly 10 per cent of global carbon
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emissions and is the second-largest polluter in the world after oil and gas. As consumers become more aware of fashion’s environmental impact, they are choosing to participate in collaborative consumption activities such as swapping clothes.
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NEWS & INSIGHT
SOCIAL MEDIA’S LUCRATIVE, YET COMPLEX LANDSCAPE REVEALED IN NEW REPORT
to a complex landscape where businesses are not only seeking to grow their reach and offerings, but also adapting to changing user demands in an increasingly stringent regulatory environment. “These business moves will continue to shape the future of social media and influence both user behaviour and the competitive dynamics of the market,” explained OBS Business School professor Santiago Giménez, who led the report. The growth of social media advertising, meanwhile, has been aided by the ability of platforms to reach hyper-segmented audiences and the increasing sophistication of ad targeting tools, as outlined in the report. Globally, it estimates last year’s investment in social media advertising at $207.1 billion, growth of nine per cent compared with the previous year. A specialist online education provider, OBS Business School recently welcomed 1,400 attendees to L’Auditori in Barcelona for the graduation ceremony of 2,800 students from 44 different countries, with 11,000 following the event on YouTube. TBD
social media networks, although this varies by age and gender. In terms of time spent, they are most used by women aged 16‑24 and least used by men aged 55-64. In addition, their hold on populations varies by region, with 82 per cent of people in Northern Europe known to use social media networks, compared to 71 per cent in the US and 66 per cent in South America. Alongside current statistics and data, the OBS report tackles the business side of the social media market’s evolution, advising on recent mergers and acquisitions (M&A) and the economic outlook for advertising. In particular, its M&A analysis points
SCHOOL OBS Business School COUNTRY Spain
T here are currently more than five billion social media network users globally, representing 62 per cent of the world’s population, according to a new report from OBS Business School that highlights the ubiquity of these interactive platforms. On average, these users spend two hours and 23 minutes per day on
“There are currently more than five billion social media network users globally, 62 per cent of the global population”
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NEW FINANCIAL EDUCATION COURSE FOR CHILEAN ENTREPRENEURS ANNOUNCED
FEN dean and former Chilean minister of the economy José De Gregorio highlighted the importance of financial education: “Our lives are full of financial decisions and that is why we entrepreneurs and young people; they are the future and we want them to be prepared with proper training, so they can understand how financial decisions are made.” He added that, since its creation in 2021, Manos a la Obra and other associated courses within the Mi Barrio Financiero (My Financial District) programme, “have allowed us to must focus on certain segments. “This programme focuses on extend the borders of the faculty and its connection with the environment. We have already trained more than 18,000 entrepreneurs with the Never Too Late course. “It is our objective to continue the collaboration agreement we have with ABIF and to extend its coverage by incorporating new partners in order to continue promoting financial education among the population,” De Gregorio concluded. CD “The free online financial course features a contest that will award the best 10 entrepreneurs one million pesos to boost their business”
body INACAP (the National Institute for Professional Training) features a contest that will award the 10 best entrepreneurs one million pesos (c $1,080) to boost their business ideas. Those who successfully complete the modules will receive a diploma from FEN certifying what they have learned. According to figures from the Central Securities Depository, some 42 per cent of Chileans have a low level of financial knowledge. In addition, according to the latest International Survey of Financial Literacy in Adults by the OECD, (Organisation for Economic Co‑operation and Development) compared to 19 other member countries included in the report, Chile has the worst rating in terms of financial literacy.
SCHOOL Faculty of Economics and Business, University of Chile COUNTRY Chile
T he Faculty of Economics and Business (FEN) at the University of Chile has launched a programme called Manos a la Obra , (or ‘Let’s get to work’) together with banking association ABIF, that is designed to assist entrepreneurs from across the country. The free online financial education course, supported by non-profit
10 Business Impact • ISSUE 3 • 2024
NEWS & INSIGHT
59 per cent of respondents was using the technology to help explain concepts. Another use relates to its potential to act as a private tutor, although only nine per cent of these students were already using a GenAI tool in this way. However, there was also a lot of fear regarding the use of GenAI, with 50 per cent of students with a disability concerned that they may be accused of plagiarism. In addition, the sample confirmed some common fears surrounding the wider impact of GenAI technology, including concerns over misinformation, scams and broader societal effects, such as surveillance and harassment. When it comes to GenAI’s potential impact on their career aspirations, the students were unsure if there would be any immediate effects, but their views tended to be more negative when asked about effects that may be felt in the longer term of more than five years from now. EB “Students used GenAI for study tasks, such as suggesting ideas and summarising articles, as well as to help explain key concepts”
GENERATIVE AI’S POTENTIAL PROS AND CONS FOR STUDENTS WITH A DISABILITY
Nottingham Business School’s Elaine Chen and Yun He, together with an undergraduate student and NTU’s dyslexia specialist Richard Fletcher, surveyed 54 students known to NTU’s disability and inclusion team to learn more about their views on the subject and how they currently use GenAI. Nearly half of the respondents (46 per cent) felt that GenAI tools were well-designed to accommodate their specific needs. They were also more likely to report using GenAI for study tasks, such as suggesting ideas and summarising articles, than other students, when the findings were compared to a survey that did not target this segment of the student body. Most popular and cited by
SCHOOL Nottingham Business School Nottingham Trent University (NTU) COUNTRY UK
central advantage of generative AI (GenAI) is its accessibility, with its instantly
A
recognisable interface and ability to ‘chat’, allowing most people to use the technology without any training. It, therefore, stands to reason that GenAI may offer benefits for students with dyslexia, neurodivergence and other disabilities. In this context,
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing Business Impact editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
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Porto Business School opted to add BGA accreditation to its existing AMBA accreditation because of the way it resonated with dean José Esteves’ rebrand plans for a further focus on sustainability and impact. In this interview, he tells Tim Banerjee Dhoul about the school’s new group‑based learning approaches and why there’s value in going ‘glocal’ Poised for impact
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SCHOOL STRATEGY
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The moment José Esteves joined Porto Business School (PBS) as dean in 2023, he felt that the school had “sustainability in its DNA” and an established mindset for generating impact. “When I arrived, I was surprised at how sustainability-oriented the school already was. For example, there is a natural lake where the school recovers rainwater and an organic farm where T
The business school of the University of Porto, Portugal’s second-largest institution by number of enrolled students, PBS was established in 1988 by a group of the country’s business leaders. “It’s not a traditional business school that emerged within a university,” Esteves reveals. “[These leaders] wanted a business school in Portugal that focused on leadership and having an impact on society, so that also fits with one of the pillars of BGA.” Lifelong learning, too, is an integral component of the school’s outlook and operations. “Around 40 per cent of our students return to continue with their education,” Esteves says, with regards to all levels of education on offer at PBS. “We try to show them the different parts of our portfolio and outline the benefits from a career perspective. “We also provide special offers to do continuity electives, for example, even within the MBA programmes,” he continues. “In addition, when people study here they sometimes bring other people from their companies because we can provide them with discounts. There’s a whole mechanism of incentives at work to facilitate upskilling and reskilling.” Group-based learning initiatives In its programmes, PBS has been working on infusing more social interactions into its teaching. “Something we found is that the more group‑based the learning experience is, the higher the level of engagement.” In this, Esteves has been able to draw on his background and expertise in gamification. “Gamification is not about points; it’s about finding how you can persuade people to act – it’s the call to action.” The PBS dean then describes how this can help inform a school’s pedagogy. “A lot of people want to become more social, that’s why Facebook games are so popular. It’s not just because people want to play as an individual, it’s the social aspect. We are trying to bring this kind of collaborative dimension to the learning experience. It’s not about content, it’s more about the approach.” One case in point is the PBS Board Fellows, which is set to get up and running in September as an MBA elective. The initiative provides students with the opportunity to join an NGO’s management board for six months as a non-executive member, where they attend regular meetings and work on a project with the support of a mentor. Its aim
students and staff can produce vegetables. Even the way the building was created, using local materials and so on, is something other schools now aspire to, but PBS had this already; they just didn’t perceive how important it was,” he confides. As part of his efforts to rebrand the school, Esteves was therefore drawn to add BGA accreditation to its existing AMBA accreditation. “I didn’t have to change the mindset of the people or the culture,” he explains, adding that his focus has instead been on “maximising the value of what the school has done”. These ambitions resonated strongly with the mission and values of BGA. “When I saw BGA, I knew it aligned perfectly with what we wanted to transmit.”
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INTERVIEW WITH THE DEAN SCHOOL STRATEGY
governance and how a board of directors works, but you give back with your knowledge; it’s a win-win experience,” Esteves enthuses. The move comes at a time when the PBS dean senses a change in the wind with respect to the types of careers sought by MBAs: “Sometimes they don’t think about NGOs because of salaries, but we were pleasantly surprised when students told us that they really want to contribute. I don’t know if it is because of the Covid pandemic or just the current state of the world but honestly, I think it’s the right moment to do more on this.” Esteves’ outlook on this topic extends to the type of candidate the school seeks to enrol: “The traditional consulting and finance perspectives are still good, of course, but we want people with different values in addition to those.” One example is a renowned music director currently enrolled at the school, whose work managing 200 members of an orchestra has brought useful insights to the class. “It’s a good example of how you can connect arts with soft skills,” the dean reasons, as he recalls the student’s contributions to discussions around managing complex teams in the context of the high levels of perfectionism and various egos one invariably finds in a leading orchestra. Infusing courses with sustainability Another example of the school’s efforts to tweak its learning approach is the [appropriately titled for this publication] Business Impact Challenge. Held for the first time earlier this year, international MBA students were tasked with developing a sustainability strategy for online cosmetics retailer Care to Beauty over four days. Set to run annually, the challenge takes place earlier on in an MBA programme than most of its equivalents at other schools. Esteves explains that this decision came partially in reaction to student feedback that detailed a desire for less emphasis on academics and time spent in class after completing their first term in the programme. “This is usually a programme’s final project, but we are trying to say, ‘You don’t have to wait until the end of the MBA to experience why and how you can solve problems,’” he adds. “That’s why we placed the Business Impact Challenge in the first week of the programme’s second term.” The challenge also forms an important part of the school’s efforts to integrate sustainability into the
is to give students the chance to contribute to the development and success of NGOs and the communities they serve. While in-company consultancy projects are not uncommon at MBA level, the tilt towards the third sector, where resources are often all too scarce, is an intriguing move for its potential to yield societal impact and benefits for both sides. “As a student, it’s about how you can use your expertise to contribute to that NGO. You learn about corporate
“We have made it mandatory to have at least one learning objective about sustainability in all courses”
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curriculum, as Esteves outlines: “We have a core course on sustainability, but my perspective is that it’s not something you learn in an isolated course alone. All processes and services that a business leader presides over need to have a sustainability dimension. So, when you work on a marketing strategy or financial analysis, you should always have that mindset. For this reason, we have made it mandatory that in all courses, whatever the subject, you must have at least one learning objective about sustainability and ensure that the topic is covered in class discussions.” Managing accreditation processes As an existing AMBA-accredited business school, PBS found the switch to undergoing a joint AMBA & BGA accreditation to be a relatively seamless experience. “At the end of the day, I think combining both accreditations helped us because you need to address impact as part of the AMBA accreditation, so the BGA process was useful,” concludes Esteves. The dean also reveals that much of the information needed during the BGA accreditation process was already on the school board’s radar. “The school is an association and I have 41 partner companies on my board. They all need to do their own sustainability and impact reports because this is now mandatory among leading companies,” he says by way of explanation. An additional accreditation also slotted in nicely with the school’s existing approach to the business of managing multiple accreditations, according to Esteves: “I manage directly as a dean but the good thing is we try to involve as many people as possible within the school and split the tasks.” Co-ordinating this work and Esteves’ own involvement are two quality assurance team members who work on both accreditations and rankings. If Esteves harbours any concerns around accreditation, these centre on prescriptiveness – an area BGA’s model is designed to combat. The problem, he advises, is if accreditations lead to everyone “having more or less the same curriculum”, adding the possibility that “everyone does the same things because it’s a way to simplify the process.” Nuances in concept definitions Here, the conversation moves onto areas where BGA might be able to make use of its own continuous improvement model (CIM) to enhance its role of
“Business schools are global, but there’s also value in the ‘glocal’ perspective of thinking globally and acting locally”
championing innovation and impact in business education. While it was not an issue for his own school, Esteves suggests that the organisation could offer help to those who wish to better understand key concepts and definitions. “Sometimes it’s a question of what is meant by ‘responsible management’, to give one example,” he proffers. “A business school may have some
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SCHOOL STRATEGY
the PBS dean senses that there is an opportunity to revisit strategies of internationalisation that might have led to schools becoming preoccupied with looking outwards and beyond their immediate environments. “When we talk about the community, it’s not necessarily about how we change the world. Sometimes it’s better if you can change the local community,” explains Esteves. “Of course, business schools are global, but there’s also value in the ‘glocal’ perspective of thinking globally and acting locally. You don’t have to send your students somewhere far, far away because they are needed in your local communities as well. Business schools, because of this international perspective, often miss that point.” Preparing students to cope with the evolving world of work is another challenge identified by Esteves and, naturally, the impact of technology looms large here. However, for the PBS dean, this is as much as about imparting students with soft skills as any need to develop their technical abilities: “The biggest revolution that comes with artificial intelligence (AI) isn’t the tools, it’s what I call the paradigm shift.” Esteves goes on to outline his current work on how the growing trend towards combining humans and the power of generative AI in the workplace might change the way schools teach leadership and the dynamics of team building. The topic of cybersecurity raises a particular concern with Esteves: “At business school, you always talk about critical success factors and so on, whereas the cybersecurity world always talks about weakness because a hacker will never attack what a team is good at. But boards of directors don’t want to talk about their weaknesses; it’s not part of the agenda. I think we need to prepare students to have a greater awareness of weakness from the risk management perspective. It’s not about saying ‘I’m going to fail because I have a weakness’, it’s saying ‘I have that weakness, so I’m going to prepare a plan to mitigate it’.” To help its students adapt to emerging disruptions and realities, the business school is able to draw on the expertise and research centres of the wider University of Porto, bringing faculty in to show tomorrow’s business leaders what lies in store for them in the future. As Esteves encapsulates: “We try and make sure that our focus isn’t limited to what students need to know in the present; we call it ‘learning beyond now’.”
problems if they don’t have experts in that area. So, I think BGA could provide more support in the conceptual approach of the different dimensions involved,” he continues, referring to the areas under which BGA’s CIM asks institutions to provide evidence of measurable change. “It would be good if you can advise or coach those who need it on the topics or put people in touch with someone who can give an overview.” Such concepts are, of course, very difficult to pin down to simple and singular definitions and different cultural contexts and perspectives around the world will always yield their own interpretations. Yet it is essential to break down concepts as they relate to your environment if you expect to measure yourself against them. “I did that with my team,” Esteves divulges. “For BGA, we spent one hour on each dimension explaining from a conceptual and sometimes theoretical perspective what it means for us.” Business education’s changing times BGA’s CIM aims to help guide institutions through the changes demanded by continuing disruption in the business world and, by extension, the global market for management education. “Business schools are rethinking their model and their mission,” surmises Esteves. “I don’t think it’s enough to talk about educating business leaders. That’s too ambiguous; we have to look at how we are educating people to make a difference and consider our institutions’ impact in the community.” Here,
José Esteves i s the dean of Porto Business School, University of Porto in Portugal. Previously, he spent more than 18 years at IE Business School in Madrid, holding a number of roles, including professor of information systems, associate dean for MBA and tech and analytics programmes, as well as head of its information systems department. Esteves holds a PhD in information systems and a DBA, as well as MSc and engineering degrees in information systems with a specialisation in artificial intelligence
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Forging
future leaders
London School of Business and Finance dean Shahnaz Hamid talks us through the school’s commitment to online education, which is dedicated to implementing best practices in curriculum development and fostering inclusivity
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ONLINE EDUCATION
I n today’s globalised world, online education plays a crucial role in bridging geographical boundaries, providing learners from diverse backgrounds with equal access to quality education. It enables individuals to upskill and gain knowledge at their own pace, fostering lifelong learning and adaptability in a rapidly changing global economy. Moreover, online education supports inclusivity by offering flexible opportunities that cater to various learning styles and personal circumstances, making education more accessible and equitable worldwide. Optimising curriculum design Curriculum design is pivotal in online education; London School of Business and Finance (LSBF) prioritises integrating up-to‑date content, emphasising digitalisation, AI and global business strategies to ensure relevance and impact in today’s dynamic environment. The programmes provide a curated assortment of specific activities and materials, as well as offering opportunities for interaction between students and faculty. LSBF renders substantial online support through online libraries, writing centres and disability services. Each of these elements is designed to ensure that the learning experience is seamless and effective. Data from various 2023 surveys indicates a 91 per cent overall positive experience among students. There has been notable improvement in feedback regarding academic content, tasks and tutors, academic resources, student voice and the ease of navigating our learning platform. Additionally, LSBF graduates enjoy an employment rate of 93 per cent, demonstrating that recently implemented initiatives have significantly enhanced the quality of educational experience and outcomes. The integration of technology is essential for the success of online learning initiatives. Technology’s immense impact on higher education is expected to continue in the coming years (see Dickson Mdhlalose & Gloria Mlambo’s article, Integration of Technology in Education and its Impact on Learning and Teaching ). The facilitation of learner-centred and self-directed learning is one key advantage of integrating technology. LSBF applies an advanced learning management system called Canvas. The platform allows students to access course materials, assignments, study materials and a host of online discussions and activities. The institution has begun integrating AI tools, such as Keath.ai, which provide rapid and precise assessments while allowing instructors the flexibility to adjust scores and add personalised feedback. The importance of good resources The hallmark of an effective online learning programme is the promotion of an interactive learning environment. Flexible online educational settings foster interactive learning, which is enhanced
by student autonomy, co-operative learning and adaptive course correction (see the article by Zohar Barnett-Itzhaki, Dizza Beimel and Arava Tsoury entitled Using a Variety of Interactive Learning Methods to Improve Learning Effectiveness ). LSBF’s learning resources based on games and videos help to keep students engaged and motivated. The school facilitates synchronous sessions for its online programmes via Microsoft Teams to allow students across the world to participate in live lectures and interact with their tutors and peers. In addition, the institution has implemented a variety of collaborative tools, discussion forums and a number of café-type platforms designed to promote peer interaction. The prioritisation of interactive learning in the online courses provided at our institution ensures that learners gain holistic perspectives and engage with diverse cultures and points of view. Students are able to access a variety of online library resources, such as Perlego, in addition to numerous research tools. Initially, LSBF relied on individual providers for journals and other publications, without offering textbooks to students. However, student feedback consistently highlighted the need for access to core textbooks. Given the globally dispersed student body of LSBF, finding physical textbooks was challenging. Recognising this need, the school sought out e-book providers and ultimately partnered with Perlego (often referred to as the ‘Spotify of textbooks’) due to its shared commitment to a student-centric learning experience. This collaboration has helped in meeting the demands of students, ensuring they have easy access to essential textbooks regardless of their location, thereby significantly improving their academic experience. The school has installed a state-of-the-art intercom that includes instant message and chat services with student support personnel who offer pastoral care and administrative services. It should be noted that LSBF provides its students with live guidance sessions on the utilisation of Canvas, as well as skills and referencing workshops. These sessions also cover plagiarism, Turnitin processes and the application of AI. Moreover, LSBF has prioritised the curation and maintenance of study centres offering students a wide variety of academic learning resources that cover the entire length of every individual’s studies.
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Reaping the benefits in DE&I Diversity, equity and inclusion (DE&I) are essential in the current socio-economic context. There is an increased need for educational institutions to go beyond conventional methods of disseminating knowledge and ideas and reach across national borders through global reach initiatives. The necessity for ongoing, lifelong learning and competency development is growing, especially given society’s shift towards digitalisation. Higher education ought to be tailored to the various needs of students and adapted to particular life stages, while also being accessible to larger segments of the populace. Flexible learning attempts to meet these demands by granting students greater freedom and control over the timing, location and mode of instruction (see Claude Müller, Thoralf Mildenberger and Daniel Steingruber’s article, Learning Effectiveness of a Flexible Learning Study Programme in a Blended Learning Design) . LSBF has used a variety of measures to ensure that programmes are designed to cater to specific student needs. For instance, individuals with different learning requirements and schedules are accommodated in the online learning sessions. Flexibility is essential since the majority of students are employed adult professionals from diverse geographical locations. The school has also made provisions for students with different professional and personal responsibilities. As a result, learners have the capacity to complete their weekly tasks asynchronously, something that facilitates the effective management of classwork, as well as personal commitments. In addition, the institution has prioritised the development of a multicultural learning environment through initiatives such as the employment of international faculty. Inclusive pedagogy is a concept that highlights how the curriculum, assessments, classroom activities and courses take diversity into account to provide all students with learning that is accessible, meaningful and current. In this respect, LSBF focuses on the inclusion of diverse viewpoints and case studies in its online learning curriculum. A significant section of the academic activities is dedicated to the assessment of case studies and assignments that address global issues to facilitate multicultural conceptualisations of specific topics and issues.
Canvas videos offer subtitles and increased font sizes while Perlego e-books include an audiobook. For students residing in ‘low-connectivity’ or ‘digitally underserved’ areas, all videos are accompanied with PDF versions of the scripts. Additionally, the school offers in-house support for students with disability and appropriate accommodation is provided following an evaluation by the disability support office. These measures ensure that each student at the institution gets the opportunity to learn. Societal impact of online practices LSBF promotes student empowerment by providing a range of resources and activities for career exploration in a variety of ways, including career tests, private counselling sessions and educational seminars that provide insight into different business and professional options. The career services officer conducts an informative induction every term and offers support when it comes to interviews and CV preparation. “The necessity for ongoing, lifelong learning and competency development is growing, especially given society’s shift towards digitalisation”
LSBF has also provided facilities and resources that respond to the needs of students with disabilities. For instance,
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ONLINE EDUCATION
in the global community. Through climate-centric events, research and new programmes like the MBA in sustainable innovation, LSBF fosters a culture of sustainability for both students and staff. Moreover, LSBF’s current courses, such as Carbon Management & Entrepreneurship, Corporate Governance & Ethics, Corporate Social Responsibility and Current Issues in Oil, Gas and Energy, integrate principles of sustainability, ethical governance and social responsibility into the core business curriculum. These courses ensure that students understand the economic, environmental and societal impacts of business decisions. LSBF’s new MBA programme, meanwhile, aims to equip graduates with the skills to address challenges related to sustainability and innovation. Students master technical language for discussions with international organisations, governmental institutions and NGOs, as well as learning to communicate innovative strategies clearly with various stakeholders. They are trained to be first-line managers for corporate diplomacy with a focus on sustainable business, to plan and manage innovative research on sustainable business models and to design creative strategies to tackle issues as they arise. By the end of the programme, students are able to self‑assess knowledge gaps and address them independently through reliable sources, ensuring continuous learning and adaptation in a constantly changing environment. At LSBF, students are actively engaged in initiatives that make a difference. For instance, the LSBF Café held in July focused on the United Nations’ sustainable development goals (SDGs). During this event, a brainstorming session and productive discussion took place between an academic presenter and three student speakers, exploring how individuals and the companies where our students work, as well as universities, can contribute to achieving the SDGs. This initiative empowers students to understand and act on global challenges, equipping them with the knowledge and motivation to drive sustainable change in both their professional and personal lives and act as responsible future leaders.
The school ensures that it equips its learners with resources and skills applicable in a global market. The invitation of professionals from a variety of fields facilitates the dissemination of insightful information at webinars and workshops, which allows students to link their objectives to practical career prospects. In an effort to enhance student success and retention, the student support team has implemented a low-activity report system. This monitors and identifies students with minimal engagement, enabling timely intervention and support. By tracking log-in frequency, participation in discussions, assignment submissions and interaction with course materials, the report identifies any students at risk of falling behind. Tutors can use the low-activity-report insights to reach out to at-risk students and the academic team can offer specific support tailored to each person’s needs, improving academic performance. Early detection of low engagement allows for timely intervention. This proactive approach has led to a 95 per cent student retention rate and an improved overall graduation rate, showcasing the school’s positive impact. Showing that sustainability matters Social responsibility is a prerequisite for continued growth and development in contemporary socio‑economic contexts. LSBF is dedicated to the promotion of ethical business practices and corporate social responsibility. Earlier this year, the school signed the Climate Action Network for International Educators (CANIE) accord, which highlights its dedication to sustainability and environmental conservation. As CANIE is an organisation dedicated to the prioritisation of climate action in the field of international education, joining the CANIE accord aligns LSBF with scientific recommendations and international climate agreements. By becoming a signatory, LSBF has demonstrated its commitment to responsible stewardship of the planet, signalling to students, partners and other stakeholders its dedication to reducing greenhouse gas emissions. Membership also connects LSBF to a global network of international educators working towards ambitious climate goals. The school’s dedication to sustainability is also seen in the curriculum, which emphasises corporate responsibility and ethical governance, equipping students with the knowledge and skills to make waves
Shahnaz Hamid is the dean of the London School of Business and Finance, where she oversees both academic and administrative facets of the institution. She holds a doctorate in business administration (DBA) and has extensive international teaching and research experience. She recently received a jury award from COAE Global Awards for her contributions to the education sector
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grit Getting to grips with
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EXPERIENTIAL LEARNING
T here is a tragic contradiction at the heart of most education systems and business schools are, in some ways, uniquely positioned to address it – better late than never. Imagine your child comes back from school with a grade ‘C’. Do you start looking for a tutor, or tell them to focus on the subjects they are already good at? This age-old debate surfaces frequently, as most education systems are happy to alert you to any academic struggles, yet they remain largely unequipped to foster excellence. As the imagined parent, neither reaction here is optimal. Both responses teach your child that the decision to pursue a goal or profession should be based on external validation (or lack thereof) of their perceived ability in that area. Consequently, any setback or low grade suddenly ‘proves’ that they shouldn’t be heading for that area of study or career after all. Conversely, a natural aptitude can be seen as enough to guarantee future success. However, children don’t just need to learn about working hard, they also need to learn to not give up easily. “The best of the best fail in life more often, not less, than the rest of us,” said renowned Harvard Business School (HBS) leadership professor Amy Edmondson, in a Czech Television In an era of uncertainty and upheaval, the need for perseverance and grit has never been more critical. Newton University chancellor Anna Plechatá Krausová outlines how the institution seeks to test and cultivate students’ resilience in a challenging, yet safe environment
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Business Impact • ISSUE 3 • 2024
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