Ambition is AMBA’s thought leadership magazine, offering regular insights into the challenges and trends that matter most in global management education
Ambiti n The monthly magazine of the Association of MBAs (AMBA) BE IN BRILLIANT COMPANY
Issue 75 SEPTEMBER 2024
Learning from Latin America Egade dean Horacio Arredondo on the challenges facing the region’s business school sector
AMBA & BGA BSPC 2024 EVENT REVIEW Taking a professional approach to education
BEATING THE BRAIN DRAIN ESMT expounds on handling human capital flight
GALWAY GEARS UP FOR ETHICAL MANAGEMENT Innovative experiential learning EMBA module unveiled
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
Issue 75 | SEPTEMBER 2024
NEWS & INS IGHT
REGULARS
07 | EDI TOR’ S LET TER How business schools are endeavouring to adapt to the expectations, ambitions and values of Gen Z students
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36 | SPOTLIGHT ON SCHOOLS A profile of the newly triple- accredited Yonsei School of Business in Seoul, South Korea 38 | VIEW FROM THE TOP Introducing AMBA & BGA’s new membership platform and a look ahead to next year’s global conference
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08 | BUSINESS BRIEFING Ambition’s latest roundup of news and research from across the AMBA network includes a set of values that will act as an ‘internal quality control’ at Copenhagen Business School and a University of Auckland Business School study revealing the link between rising food prices and the transition towards renewable energy 30 | STRONGER TOGETHER Birmingham Business School dean Edgar Meyer takes us through the evolution of the institution’s AMBA‑award‑winning partnership with Deloitte and outlines
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EVENT REVIEW
18 | GETTING DOWN TO BUSINESS Held in Prague, this year’s AMBA & BGA conference for business school professionals covered key trends and opportunities in digital transformation and programme development
its wide-ranging benefits, both to students and the reputation of the school’s MBA programme
Ambition | SEPTEMBER 2024 | 3
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Issue 75 | SEPTEMBER 2024
FEATURES
12 | COVER STORY IN CONVERSATION WITH... HORACIO ARREDONDO Egade dean Horacio Arredondo on the challenges facing Latin America’s
business schools, plus how to enable faculty to use new technology effectively
26 | FACING UP TO TALENT FLIGHT Schools must engage more deeply with the problems associated with ‘brain drain’ from lesser‑developed countries, says Friends of ESMT’s Nick Barniville
34 | A NEW ERA IN EDUCATION
A look at what lies ahead for executive education in the first of a three-part series on Gen Z and the 2030 MBA
16 | CONSCIOUS TO THE CORE JE Cairnes School of Business & Economics’ Johanna Clancy explains how an experiential learning module on its executive MBA emphasises ethical and responsible management
Ambition | SEPTEMBER 2024 | 5
ACHIEVE AMBA & BGA JOINT ACCREDITATION FOR YOUR BUSINESS SCHOOL
AMBA & BGA joint accreditation emphasises the importance of an institution’s overall impact and value creation for students, employers and communities, with a focus on responsible management, while maintaining the same level of rigour found in AMBA’s accreditation of postgraduate business programmes Achievement of joint accreditation allows your business school to demonstrate the quality of its MBA, as well as responsible management practices and positive impact on stakeholders
Undergoing a joint accreditation means that your institution requires only one visit of highly experienced assessors. This combines the necessary documentation from the two accreditations, reducing the amount of administrative work and tasks required to achieve two internationally recognised business school accreditations
EXPLORE AMBA & BGA JOINT ACCREDITATION FOR YOUR BUSINESS SCHOOL AT: www.amba-bga.com/joint-accreditation
EDITOR’S LETTER
TALKING ABOUT THE NEW GENERATION
EDITORIAL Head of editorial Colette Doyle c.doyle@amba-bga.com Content editor Tim Banerjee Dhoul t.dhoul@amba-bga.com
Educators are debating how best to meet the needs of the new wave of digitally savvy Gen Z students
B
Art editor Sam Price Sub-editor Heather Ford
usiness schools are increasingly tailoring their MBA programmes to meet the distinctive needs and expectations of Gen Z students, those digital natives who have grown up in a rapidly changing world. Key adaptations focus on experiential learning, as Gen Z students value hands-on experience and practical application. Business schools are also incorporating more experiential learning opportunities, such as internships, case studies and simulations, to cater to their preferences. Moreover, there is added emphasis on flexibility and customisation: given that Gen Z students are accustomed to personalised experiences, business schools are offering more online and part-time programmes, as well as specialised tracks to accommodate their needs. Integration of technology is also essential to enhance the learning experience for younger cohorts, with schools using tools such as online platforms, as well as virtual and augmented reality. Then there’s the focus on social impact and sustainability that schools are incorporating into their curricula to align with Gen Z values. These students are also accustomed to consuming information in short bursts and through interactive formats, so schools are integrating elements of gamification and short-form content to boost engagement. Our interview in this issue with the MBA director at MMU touches on some of these vital themes, as does our review of the recently held business school professionals’ conference, where school executives discussed how best to appeal to the upcoming generation’s unique mindset. Some solutions proffered include transfer visits, study exchanges and career labs, plus a ‘learning-by-doing’ approach. Other representatives highlighted the need for micro-credentials as a way to garner their interest. As our CEO Andrew Main Wilson wrote in this very magazine last issue: “AMBA & BGA is currently looking at ways of supporting member schools with best-practice advice and potential endorsement of such lifelong learning programmes.”
Insight, content and PR manager Ellen Buchan e.buchan@amba-bga.com CORPORATE Commercial relations director Max Braithwaite m.braithwaite@amba-bga.com
Head of marketing and communications Leonora Clement
Senior marketing executive Edward Holmes
Head of IT and data management Jack Villanueva
Head of events Carolyn Armsby
HR and employer relations manager Aarti Bhasin Finance and commercial director Catherine Walker
Colette Doyle , Editor, Ambition
THIS MONTH’S CONTRIBUTORS
Chief executive officer Andrew Main Wilson
Executive assistant to the CEO Amy Youngs a.youngs@amba-bga.com ACCREDITATION ENQUIRIES accreditation@amba-bga.com
HORACIO ARREDONDO
NICK BARNIVILLE
JOHANNA CLANCY
SEONGMOON KIM
ANASTASIA KYNIGHOU
EDGAR MEYER
Copyright 2024 by Association of MBAs and Business Graduates Association ISSN 2631-6382 All rights reserved. Material may not be reproduced without the permission of the publisher. While we take care to ensure that editorial is independent, accurate, objective and relevant for our readers, AMBA accepts no responsibility for reader dissatisfaction rising from the content of this publication. The opinions expressed and advice given are the views of individual commentators and do not necessarily represent the views of AMBA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. AMBA makes every opportunity to credit photographers but we cannot guarantee every published use of an image will have the contributor’s name. If you believe we have omitted a credit for your image, please email the editor.
Ambiti n
Ambition | SEPTEMBER 2024 | 7
BUSINESS BRIEFING
All the latest updates from across AMBA’s global network
Tim Banerjee Dhoul and Ellen Buchan present Ambition’s latest selection of news and research, featuring a set of values that is now infused into every learning programme at one institution; an alliance designed to support the sustainable development of avocado production at another; an unforeseen negative consequence of renewable energy; and the outcome of a study exploring the merits of the four-day working week
OLYMPIC ATHLETE TAKING ON NEW CHALLENGE OF AN EXECUTIVE MBA
SCHOOL : QUT Graduate School of Business, Queensland University of Technology (QUT) COUNTRY : Australia
“I played my last match at the Australian Open and got on a flight to Brisbane very early the next day and started my MBA on campus that morning,” he recalled, before explaining how this transition tempered his anxiety about the next chapter of his life. “I knew I was really going to struggle if I didn’t do something else straight away. It was a daunting prospect to think about.” Now Millman is six months into the two-year EMBA programme, enjoying having something to focus on and proud of the progress he has made. “It’s not just about learning sets of data and statistical analysis… doing an MBA gives you a chance to learn about what makes you you and what you can contribute.” The school’s Paralympian and Olympian scholarship covers 50 per cent of MBA tuition fees, a proportion that matches its other initiatives aimed at female entrepreneurs and indigenous leaders, among others. There is also a ‘full ride’ scholarship for exceptional female leaders that covers the full cost of an EMBA. EB
What do you do after you have reached the pinnacle of your sport? An MBA of course. QUT Graduate School of Business in Australia is seeking to prepare professional athletes for life and careers after sport through a new scholarship initiative. Two-time Olympic tennis player and a former world number 33, John Millman is the school’s inaugural recipient of the QUT MBA and executive MBA (EMBA) scholarship for Paralympians and Olympians. Millman, who retired from tennis after this year’s Australian Open, didn’t know what to do when he first realised that his body wouldn’t be able to cope with another season. However, after realising how much he had enjoyed being exposed to the administrative side of tennis during a two-year stint on the player council for the sport’s governing body, the Association of Tennis Professionals, Millman decided that a career in this area was worth pursuing.
8 | Ambition |
SEPTEMBER 2024
NEWS & INSIGHT
Only four of 41 companies in Portugal chose to return to a five-day week after taking part in a trial that shortened regular working hours. In the trial, 51 per cent of participating companies took one day off per week, while 49 per cent opted instead for a nine-day fortnight. The result was that more than 1,000 employees reduced their allotted working time by an average of 13.7 per cent for approximately six months. At its end, the number of employees who reported difficulty in achieving a work-life balance fell dramatically, from 50 per cent to only 16 per cent. In addition, 93 per cent of workers said they would like reduced working hours to continue and valued this benefit at an average of 28 per cent of their salary, highlighting the measure’s uniform popularity. The government-funded trial and ensuing study was co-ordinated by Rita Fontinha, director of flexible work at Henley Business School’s World of Work Institute, in partnership with the international non-profit organisation 4 Day Week Global and Birkbeck, University of London. “As in other international trials, a work-time reduction in the format of a four-day week has a tremendous effect on workers’ wellbeing and work‑life balance,” said Fontinha. Female employees, as well as those with children, lower qualifications or lower salaries, were found to attach greater value to the changes introduced than other workers. “As expected, women attribute a higher value to the four-day week. Perhaps the most surprising finding is that the four-day week is more valued by low earners and workers without a higher degree, who have less flexibility in managing their working hours and fewer resources to buy services to free up their time,” Fontinha reasoned. EB BENEFITS FOR EMPLOYEE WELLBEING AND WORK‑LIFE BALANCE FOUND IN FOUR‑DAY-WEEK TRIAL SCHOOL : Henley Business School, University of Reading COUNTRY : UK
Ahead of its new academic year, Copenhagen Business School (CBS) president Peter Møllgaard spoke about the Nordic Nine, a set of values that has been integrated into every programme at the school. “The role of business has changed,” he explained. “It is not only about gaining profits but also about taking responsibility for societal development. Our students will learn how to assume this role.” The Nordic Nine is defined by the school as “an extra dimension” in its education that goes beyond professional knowledge and qualification. Woven into the school’s strategy in 2020, its subsequent development has come in collaboration with 3,000 members of the business community and higher education sector. Associate dean of the full-time MBA and professor of sustainability at CBS Andreas Rasche outlined the Nordic Nine’s significance in an interview for Business Because : “It is an internal quality control for us. Participants study different programmes but work towards the same capabilities.” Those capabilities include Nordic Nine number three: “You recognise humanity’s challenges and have the entrepreneurial knowledge to help resolve them” and number nine: “You create value from global connections for local communities”. Deputy president at CBS Inger Askehave explained that the overriding aim of the Nordic Nine is to “enable all CBS graduates to assume responsibility for the development and sustainability of our companies and society and to address some of the big challenges and possibilities we face in a complex future”. In this sense, the capabilities are as much about preparing students adequately for their careers as they are about helping them fulfil their responsibility to society, as Møllgaard alluded to: “We strive to instil a set of values in our students that gives them a distinct profile.” TBD NORDIC NINE TO ACT AS ‘INTERNAL QUALITY CONTROL’ AT CBS SCHOOL : Copenhagen Business School COUNTRY : Denmark
Ambition | SEPTEMBER 2024 | 9
AVOCADO ASSOCIATION DEAL EXEMPLIFIES DEDICATION TO INDUSTRY COLLABORATION
SCHOOL : Esan Graduate School of Business COUNTRY : Peru
Esan University, home to Esan Graduate School of Business, is seeking to bolster Peru’s agricultural sector through a new collaborative agreement with an association of leading avocado producers and exporters. “The avocado stands out among the different products available at national level, because it is already exceeding $800 million in exports annually,” commented Marco Vinelli, director of the master’s in agribusiness administration at Esan. The three-year deal has been signed with ProHass, a nationwide association of producers promoting the Hass avocado variety in Peru. “In addition to the scientific work on crop management that we do with the National Agrarian University La Molina, we are adding the development of strategic studies, information analysis, data processing, preparation of strategic plans, economic studies on the impact of Hass avocado production and export in Peru and joint events with Esan,” detailed ProHass president Juan Carlos Paredes Rosales. The three-year deal also extends to an exchange of publications and teaching materials, as well as participation in national and international inter-institutional co‑operation programmes. The principal aim, on both sides, is to reaffirm a commitment to education, research and the sustainable development of Peru’s agricultural sector. The hope is that the deal can also help strengthen the country’s position as a leader of avocado production and export. Right now, Peru is the world’s third-largest producer of avocados, behind only Mexico and Colombia, according to figures from the United Nations’ Food and Agriculture Organisation Corporate Statistical Database. Esan University rector Jaime Serida heralded the agreement as an example of the importance the school places in ensuring it walks hand in hand with industry. The master’s in agribusiness administration at Esan has recently been updated and is designed to allow participants to apply their learning directly to senior management and specialised positions in the sector. TBD
In Scotland, there are almost as many female entrepreneurs as there are male, according to a survey of more than 2,000 people in the UK nation. In total, 8.6 per cent of working-age women were found to be running their own enterprise or setting up a business in 2023, compared to 9.8 per cent of men. The survey forms the basis for Scotland’s latest Global Entrepreneurship Monitor (GEM) report and was conducted by Strathclyde Business School in conjunction with the universities of Edinburgh and Glasgow. In another nod to diversity, one in five entrepreneurs in Scotland were found to be non‑white. However, overall rates of entrepreneurship in Scotland remain lower than the UK’s other home nations, with Wales taking the top spot, England in second place and Northern Ireland third. Among 40 entrepreneurship experts who also took part in the GEM report survey, conditions supporting the growth of entrepreneurship in Scotland scored badly. Across 12 of 13 factors that include education, financing, government policies and research, the average rating was ‘barely satisfactory’. Such barriers might help explain why 60 per cent of survey respondents are deterred from pursuing an entrepreneurial path by fear of failure, even though a third believe that there are good start-up opportunities in their area. “While Scotland reached new milestones with female and minority ethnic early-stage entrepreneurial activity, concerns remain around rates of established business, fear of failure and the general context for entrepreneurship in Scotland, with worrying evaluations by the expert panel,” summarised Strathclyde Business School senior lecturer Efstathios Tapinos. “Understanding these and other issues related to entrepreneurial attitudes, perceptions and activity in the country is important for policy and practice, as entrepreneurship has important implications for the economy and many societal dynamics,” continued Tapinos, who is also a reader at the school’s Hunter Centre for Entrepreneurship, Strategy and Innovation. EB SCOTLAND AHEAD ON DIVERSITY, BUT MORE WORK NEEDED TO SUPPORT ENTREPRENEURSHIP SCHOOL : Strathclyde Business School, University of Strathclyde COUNTRY : UK
10 | Ambition | SEPTEMBER 2024
NEWS & INSIGHT
OVERLOOKED IMPACT OF RENEWABLE ENERGY SCHOOL : University of Auckland Business School COUNTRY : New Zealand
A new study from the University of Auckland Business School highlights some of the less discussed economic and social impacts resulting from the transition towards renewable energy. In an analysis of data collated from 32 Organisation for Economic Cooperation and Development (OECD) countries between 2000 and 2021, the research found that shifts to renewable energy sources, such as solar and wind power, led to increased food prices and a decrease in agricultural output. In addition, it observed that these outcomes were more pronounced among nations that were more advanced in their efforts to make the switch to renewable energy. “This evidence highlights a critical challenge,” declared study co-author Emilson Silva, who is chair in energy economics at the University of Auckland Business School and director of its research centre on energy. “As the push for renewable energy intensifies, so does the pressure on vulnerable populations who bear the brunt of rising food costs.” Silva’s motivation to raise awareness of challenges in this area stemmed from learning of protests among farmers in Australia and elsewhere who
had experienced higher production costs associated with climate policies and the growth of renewable energy production. “Our findings show that the energy transition is not a neutral process and that it carries significant consequences. While going ‘green’ is essential for mitigating climate change, it must be balanced with strategies to protect those negatively impacted,” Silva reasoned. Appropriately titled Does the energy transition affect food prices and agricultural production? , the working paper is available as part of the school’s research series on the Social Sciences Research Network. It was co-authored with Luccas Attílio from the Federal University of Ouro Preto in Brazil. Founded in 2004, the University of Auckland Business School’s Energy Centre is a multi-disciplinary hub for research and education, offering a specialised energy economics course at both undergraduate and postgraduate level. Its research focus, meanwhile, lies in electricity. TBD
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA content editor Tim Banerjee Dhoul at t.dhoul@amba-bga.com
Ambition | SEPTEMBER 2024 | 11
Editor Colette Doyle chats to Egade dean Horacio Arredondo about the specific challenges facing business schools in Latin America, how best to enable faculty to effectively utilise next-generation technology and the importance of international rankings when it comes to reputation In conversation with… Horacio Arredondo
Tell us a little bit about your background and how you came to be in your current role “My background is fairly eclectic; I started out as a public accountant in Uruguay, beginning my career in the financial services industry. After earning an MBA in Chile, I transitioned into strategic consulting, focusing on strategy and execution. This experience provided an invaluable insight into the diverse contexts, opportunities and challenges that businesses throughout Latin America face across various industry sectors. “Pursuing a PhD in Spain further broadened my interests, especially in corporate and family governance, which is crucial given the significant role of family-owned businesses as the backbone of most economies in this region. As my consulting and academic careers advanced in Chile, I also explored entrepreneurial ventures and began serving on boards across Latin America. “I believe that this blend of industry practice, consulting and governance, alongside a passion for teaching, has greatly enriched my capacity to serve as dean at Egade. We operate across multiple campuses, programmes and strategic impact areas, engaging with diverse stakeholders in a number of geographical regions. I am convinced that the greater the diversity in our thinking, skill sets and experiences, the better equipped we are to adapt to new contexts and complexities with agility and impact.
“Throughout my career, numerous relocations have often meant disruption for my wife, Lety and our children, Joaquín and Francisco, whose support has been incredibly significant, not least when the extraordinary opportunity to serve as dean at Egade came along, marking a new and exciting chapter for the family in Mexico.” How have things changed in business education since you started out in your career? “Over the past 20 years, business education has undergone a remarkable transformation. The rise of digital platforms has been game-changing, helping schools like Egade to attract greater diversity within our student cohort and making learning more accessible and inclusive. “Student expectations have also changed: the technical content focus of traditional teaching is now obsolete – especially since much of the content can be acquired elsewhere – and students demand a better balance between theory and practice. They also look for more innovative immersive and international experiences to equip them with real-world skills that they can apply immediately. “In addition, there’s been a significant shift towards sustainability and social impact as the driving forces in business education, reflecting the broader changes in business and society and the pressing need to address the critical challenges of climate change and inequality.
12 | Ambition | SEPTEMBER 2024
INTERVIEW WITH THE DEAN
Egade Business School benefits from having multiple campuses, including those in Monterrey ( main image ) and Mexico City ( above )
BIOGRAPHY
Horacio Arredondo was appointed as dean of Egade Business School at the Tecnológico de Monterrey in Mexico in July 2022. Arredondo was previously vice-dean of graduate studies and executive development at the Universidad Adolfo Ibáñez (UAI) Business School in Santiago, Chile, where he also served as executive director of the Centre for Family Businesses and as a professor of strategy and general management. At Egade, he is a strategy and organisational alignment professor; his research focuses on corporate governance and family business. He is also a corporate advisor and company director and has consulted across diverse industries throughout Latin America in both the public and private sectors, as well as at NGOs. He holds an MBA from UAI, as well as an MSc in Research Methodology and a PhD in Business Administration from IE Business School in Spain
Ambition | SEPTEMBER 2024 | 13
overly technical focus and foster the new competencies our students require, such as critical thinking, adaptability, ethical decision-making, digital literacy, effective communication, emotional intelligence and the ability to lead with empathy and inclusiveness. Above all, we must ensure we prepare students with the capacity to lead: ie to set a strategic direction, mobilise an organisation and perform with agility and positive impact. “At Egade, our slogan, ‘Challenge the present, shape the future’, captures our commitment to preparing leaders who are inspired to think critically and innovatively. They are ready to act to transform businesses and organisations across a variety of sectors to advance towards a more inclusive, just and sustainable future.” What are the specific challenges that business schools in the Latin America region are currently facing and how do you plan to deal with them? “Latin America faces significant economic and social disparities and a set of complex factors that have hindered
“Moreoever, artificial intelligence (AI) has emerged as a transformative influence and quickly reshaped almost every domain. In business education, the impact of AI on how we think, learn, teach, research, innovate and deliver outcomes for our students, graduates, faculty, teams and other key stakeholders will only continue to grow. In the context of ethics, transparency and accountability, AI development has also become pivotal in constructing a future that integrates technological advancement with social responsibility.” What have been the highlights of your career to date? “Teaching is my passion and the core of my professional life; first and foremost, I consider myself to be a professor. Nothing is more rewarding than hearing from former students years later, recalling insights and experiences that have stayed with them. It’s a true privilege and a powerful reminder of why I do what I do. “Another significant highlight is this new chapter at Egade, which began over two years ago now. In this time, we have embarked on a transformative journey, engaging
with diverse stakeholders to redefine our purpose and realign our strategy for greater regional and global impact. “Our new mission statement, ‘Rethink the future of business to impact the sustainable development of Latin America’, is more than just a declaration; it’s a motivating call to action. Collaborating with the
sustainable and inclusive development for many countries in the region. However, despite numerous challenges, it remains a region of immense potential for transformation, with huge natural resources, cultural
diversity, a dynamic, young and talented
Alumni gain valuable insights from a range of workshops, networking events and career development at Egade’s annual U Week event
population and significant shifts in digital inclusion, as well as a strong
vibrant community at Egade, our wider university and our global network of academic, corporate and organisational partners, makes this chapter of my career incredibly fulfilling.” In what ways does the MBA need to reinvent itself to remain relevant in the 21st century? “I firmly believe that the MBA is more crucial now than ever before. Today’s most pressing challenges are typically complex and interconnected and require visionary leadership and interdisciplinary solutions. No other programme effectively brings together diverse students like the MBA – different cultures, disciplines, backgrounds and experiences – to learn about how best to manage organisations, as well as learning from each other so intensely. The MBA remains a valuable context where we can support students in accelerating their learning curve, but it must continuously evolve to stay relevant. “To navigate disruption and unpredictability, we need to go well beyond traditional education models with an
entrepreneurial tradition. Business schools in the region have a unique understanding of the challenges and socio- economic realities that Latin America faces and play a critical role in accelerating the transformation of business, fostering innovation, sustainability and ethical leadership. “At Egade, we aim to be a catalyst for regional development and transformation by promoting greater access to business education, enhancing governance, competitive markets, innovation, entrepreneurship and sustainable long-term value creation. We confront complex challenges through an ecosystem that questions the status quo by leveraging strategic collaboration with businesses as well as government, public and civil sector organisations. “This ecosystem connects with outstanding academic and organisational partners both within Latin America and internationally to co-create frameworks, knowledge, solutions and leadership development. This is essential in order to promote new management models and mindsets,
14 | Ambition | SEPTEMBER 2024
INTERVIEW WITH THE DEAN
What has becoming AMBA-accredited meant for your school? “For Egade, AMBA accreditation is more than a seal of quality and excellence: it embodies a relentless commitment to delivering rigorous, innovative and global-standard education in business management and leadership with a Latin American perspective. Our students consistently highlight the importance of accreditation in their decision-making process, especially AMBA for those seeking an MBA. It is also a powerful endorsement for global employers seeking to attract our graduates, as they can be assured that our alumni are educated to a world‑class standard. “Several decades of achieving and continually upholding AMBA status, alongside our EQUIS and AACSB accreditations, is something that underscores our unwavering commitment to innovation and excellence in every aspect of our impact as a school. It has also strengthened our ability to build meaningful partnerships with leading business schools and organisations worldwide. It has opened up new avenues for collaboration, knowledge exchange and joint initiatives that enrich our students’
innovative approaches and the systemic capability that can help to address our region’s most pressing issues.” The impact of AI and other generative algorithms such as ChatGPT on business school education has been well-documented. What is your position on it at Egade – do you feel it’s something faculty will inevitably need to adapt to? “While the conversation around AI in business education often centres on its capacity to disrupt traditional learning models, I see its true potential in enhancement and empowerment. AI technologies can provide students with real-time feedback, simulate complex business scenarios and offer a level of interactivity that traditional educational methods simply can’t match. “The Technological Institute of Monterrey (Tecnológico de Monterrey) is well recognised for its innovative approach to new education models and technology adoption. As the first higher education institution in Latin America to develop its own generative AI model [called TECgpt] the same spirit of innovation is embedded in our DNA at Egade Business School. “We have established an
learning experiences and expand opportunities for our faculty and research.”
interdisciplinary education innovation department at Egade, focused on exploring and experimenting with new ways to incorporate AI and other emerging technologies into our academic model. It’s not enough to teach AI as a subject; we need to leverage it as a tool for our faculty to
“At Egade, internationalisation has always been a critical priority and the exceptional range of global opportunities we offer is a testament to that”
With the ongoing geopolitical unrest around the world,
climate change concerns, and socio‑economic uncertainty, how optimistic do you feel about the future of the business school sector? “I am very optimistic about the future of management education. At Egade, we see these complex challenges as opportunities to redefine the role of business and drive transformation both within Latin America and globally. “I have always been a strong advocate for the idea that business can and should be a force for good in society. Businesses are responsible for addressing global challenges such as climate change, inequality and resource scarcity; it follows, therefore, that aligning business strategies with societal needs can lead to long-term success. Future business leaders need to be equipped with a mindset and skill set that is ethical, innovative and focused on long-term value creation for all stakeholders and our planet. “Our responsibility as educators in Latin America and beyond is to shape business leaders who are inspired to be part of the solution and prepared to make a meaningful difference.”
support and enhance their teaching and research impact. For us, preparing our faculty to harness the full potential of next-gen technology is about improving the learning experience and preparing our future graduates to be leaders for the age of AI.” How important are international rankings to your school? “In a fragmented global education market, respected international rankings serve to connect prospective students, faculty and employers with top business schools. At Egade, internationalisation has always been a critical priority and the exceptional range of global opportunities we offer to our students, faculty and graduates is a testament to that. “However, like many schools outside the United States and Europe, showcasing our capabilities on a global scale is not always easy. International rankings can help by providing visibility, meaning that prospective students worldwide can discover what a school like our has to offer in a global context.”
Ambition | SEPTEMBER 2024 | 15
I n a 1970 essay for the New York Times , Nobel Prize- demands. New green industries, for example, could be worth $10.3 trillion to the global economy by 2050, according to a 2023 estimate from Arup and Oxford Economics. Aware of the challenges surrounding sustainability, students are part of the push for change. In the UK, a 2022 Prospects study found that 91 per cent of graduates want to “make a difference” in their job. Yet, more sustainable practices will be not only be in demand; they will also be mandated. In line with the European Union’s Corporate Sustainability Reporting Directive (CSRD), large and listed companies in the bloc must now digitally disclose information on risks and winning economist Milton Friedman stated that “the social responsibility of business is to increase its profits”. More than half a century later, global business faces a whole new set of socio-economic and environmental MBA students are changing and so are their expectations. Johanna Clancy from JE Cairnes School of Business & Economics explains how an experiential learning module puts ethical and responsible management at its core. With additional input from professor of business & society Kate Kenny and school dean Alma McCarthy Conscious to the core
opportunities arising from social and environmental issues, including greenhouse gas emissions. As students, consumers and governments alike continue to demand more sustainable business practices, ‘business as usual’ will clearly no longer suffice. There are always gaps to bridge between talk and action, so the JE Cairnes School of Business & Economics at the University of Galway has made sustainability a priority in creating an ecosystem that maximises the public good. As a signatory to the United Nations’ principles for responsible management education (PRME), the school has already taken tangible steps to embed sustainable and ethical practices throughout its research, teaching and learning. Example initiatives in this area include Leading Ireland’s Future Together (LIFT), new MSc programmes in sustainability leadership and global environmental economics, plus a transition from bolt-on modules to integrated learning objectives. We have also undertaken an extensive mapping project to anchor the school around the United Nations’ sustainable development goals (SDGs). As a school that forms part of a research-led institution perched at the edge of Europe and the Atlantic Ocean, creativity and lateral thinking are built into the University of Galway’s ethos. This creative approach was recently recognised with an award for innovative teaching practices from the PRME’s UK and Ireland network for our executive MBA module on responsible management. What distinguishes responsible management? While we are now familiar with modules focused on ethics and sustainability, these are traditionally incorporated as bolt-on
16 | Ambition | SEPTEMBER 2024
SUSTAINABILITY
noting a transformative impact on his perspective regarding the role of students in managing responsibly: “Students can champion this long-term value creation for all stakeholders by staying informed, leading campus initiatives, choosing ESG‑focused careers and promoting sustainable innovation and ESG initiatives in their workplace.” This outlook has given the school further impetus to instil such agency across our entire student body by developing a similar core module on our sustainability leadership MSc. Beyond learning about SDGs, the module encourages students to witness the fruits of their own responsible actions. Another EMBA student, Sinead Byrne, comments: “Our work in this module has helped equip companies with the practical skills and innovative approaches needed for sustainable development. By integrating our recommendations, companies can enhance their problem-solving capabilities, drive continuous improvement and foster a culture of sustainability.” Many of the industry partners involved in the module have made significant changes to their strategy and operations following students’ evaluations. This has, in turn, bolstered the credibility and dissemination of students’ work. For example, Galway-based logistics firm O’Toole Transport has begun to develop a dedicated ESG strategy underpinned by tacit suggestions that were co-created with students. Change begins with agency Beyond addressing all of the PRME’s tenets, the unique value of this project is its support of the role of students in stewarding a new generation of responsible business. In this, students act not as atomised agents but as partners exchanging knowledge around effective strategies for change. As the dean of JE Cairnes School of Business & Economics Alma McCarthy puts it: “MBA teaching can make a real difference. This innovative partnership has brought about meaningful and practical sustainability roadmaps across public, private and third sectors.” In Ireland, there is currently a lack of ownership around finding effective ways of supporting SMEs and non-profits to operationalise the SDGs. While Enterprise Ireland has begun to address the issue and Chambers Ireland has developed an SDG toolkit, uptake has been negligible and funding sparse. Innovative learning can drive sustainable development in an actionable way for both students and industry partners. In effect, we are transferring our learning by teaching our industry partners how to be more responsible, alleviating the common SME obstacles of ‘where?’, ‘how?’ and ‘with whom?’ This two-way process of learning by doing is groundbreaking in an Irish context. Students act as responsible citizens, learners, knowledge brokers and problem solvers, helping to shape the country’s national agenda. The module’s andragogical and heutagogical [ie relating to self-directed adult learning] approach, meanwhile, provides a unique opportunity for students to claim autonomy and confidence while catalysing SDG-driven action among SMEs and non-profits.
topics. This means that students complete the bulk of their research without the tools required to integrate the SDGs into core subjects, such as management and strategy. The responsible management module at Galway seeks to respond to this deficit. It partners student groups with small and medium- sized enterprises (SMEs) and non-profit organisations across various industries, all of which are affiliated with Chambers Ireland – the country’s largest business network. Together, they conduct an SDG screening-and-recommendation exercise that combines Chambers Ireland’s SDG toolkit with an innovative and more detailed guidance document developed specifically for the module. The exercise immerses students in responsible management theory and exposes them to mandatory environmental, social and governance (ESG) reporting frameworks, such as the aforementioned CSRD. In so doing, students are equipped with a philosophical and practical foundation on which they can apply their knowledge and share their expertise with industry partners and their own employers. The aim is to foster a holistic understanding of responsible business and hone students’ analytical skills, while connecting their practical and academic knowledge with partners’ sustainable and responsible practices. Student groups meet with their pre‑assigned industry partners and conduct a stakeholder analysis and materiality assessment over the course of a term. These must be both contextually relevant to the organisation and cognisant of the wider role of business in society. Students then present findings and recommendations to their partners, outlining quick wins, as well as transformative changes that may be needed. Potential collaborators are identified and a communications plan is devised for the organisation. Student and industry impact The module’s action-based learning has received excellent student feedback, with Michael Gallagher, a current executive MBA student,
BIOGRAPHY
Dr Johanna Clancy is an assistant professor in business enterprise at JE Cairnes School of Business & Economics, University of Galway, where she leads the school’s commitment to the United Nations’ PRME. Clancy recently received the University President’s Awards for Teaching Excellence and Societal Impact at Galway University
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Prague offered a wealth of historical and cultural sights for delegates at the conference to explore
Ambition editor Colette Doyle reports from this year’s AMBA & BGA conference for business school professionals, which was recently held in Prague and looked at key trends within digital transformation and programme development in the context of management education Getting down to business
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BGA membership and account manager Ben Maheson chaired the first session of the 2024 BSPC conference, a panel discussion on challenges and opportunities in global business education. Maria Avila, international accreditation manager at EAE Business School, began the debate by speaking about the “speed at which things are evolving” and therefore, by association, the need to update skills. Dilbar Gimranova, dean of the School of Economics and Management at Narxoz University, noted that his institution is trying to embed new skills in every course, such as the coding programme, Python. “Digital transformation is a buzzword for us and the strategic priority of our university,” commented Gimranova. He added: “We are trying to understand what it means exactly, as everyone is coming up with their own definition.” Richard Hodgett, MBA director at Leeds University Business School, agreed it was important to ensure students are trained in new technologies, giving bloc chain as an example. He issued a note of caution, however, remarking on how it “takes time to embed into the existing programmes and upskill staff… and there is also the [classic] resistance to new stuff”. For Adrian Mitescu, director of institutional accountability at University Canada West, the B
BSPC 2024 REVIEW
challenge is “to stay nimble and adaptive while growing at the same time”. In terms of using AI-assisted ways of learning, he described this as “mostly reactive, as students are already using it… [in fact] they have been the leaders, with faculty playing catch-up”. However, there are still plenty of opportunities to put the technology to good use, as Mitescu highlighted: “We let AI do the boring stuff, such as survey design, to simplify our processes.” He also maintained that “employers want students who can use AI” and this is why it has been made mandatory in a number of courses at Canada West. Avila concurred, noting that undergraduate students have “very high expertise in terms of AI, but our faculty are still not used to it and they need to get up to speed”. Gimranova agreed too, noting that “there is more pressure [to use AI] coming from students than faculty in cases such as the student registration system”. At Leeds University Business School there is a traffic light system in place for assessments, as Hodgett explained: “Red means do not use, amber is for certain times and green equals go. We are trying to move more and more towards green, as AI is very much a skill that will be used in the workplace of the future.” Seeking sustainability & social responsibility Maheson then turned the panel’s attention to the ubiquitous topic of sustainability. Hodgett referenced the UN’s sustainable development goals (SDGs) and noted that the staff policy at Leeds is “if you can get to a destination in under 11 hours you should go by train, otherwise if you go by plane you need to pay a levy”. “We have to prepare future CEOs, so we encourage students to have a sustainable point of view; this is part of our curriculum and the evaluation process,” noted Avila. Mitescu pointed out how his school’s local economy is “largely dependent on resource extraction and carbon-heavy industries, but we have integrated sustainability topics because of student demand as it gives them a strategic advantage”. Looking at the top challenges business schools will face over the next five years, Avila cited the need to “maintain our standards but also to adapt them to digital technology”, plus demographic changes – “the new generation has a different mindset; we need to understand how they want to learn”. Hodgett remarked on how business schools need to be aware that they will “become responsible for training CTOs (chief technology officers), as well as
BGA membership and account manager Ben Maheson chaired the first session of the conference
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These challenges are balanced by opportunities such as the ability to reach a global audience, personalised learning experiences and the capacity to rapidly update curricula to meet industry needs. In order to drive innovation, highlighted Sivula, “schools must offer a cutting-edge curriculum, agile product development and a flexible learning format, as well as strengthening their partnerships and providing thought leadership”. Education through innovation Adrian Johnson, adjunct professor and programme director at Insead, used his session at the conference to delve into the transformative role of AI in education and how it is reshaping the pedagogical landscape. He began by noting how generative AI can be used to design a course based on subject, learning objectives and the level of the students involved. Johnson advocated the use of enhanced learning tools such as simulations from Qinect (where he is the company co-founder), virtual tutors from Tutello, educational games and content generation, as well as virtual and augmented reality. He noted how generative AI can also be used to create personalised learning, including adaptive learning platforms; learning analytics; customised learning paths; flexible grouping in classrooms; gamified learning experiences; and interactive tutoring systems. Each student receives a grade and detailed feedback tailored to their learning objectives and subject matter. In addition, the use of AI can assist with administration efficiency in terms of scheduling, resource allocation, records and progress reports, plus student communications. Johnson also referenced the changing role of the educator, which has migrated from coach to mentor to Socratic guide. Management resilience training Military training methodology was what inspired Newton University to compile its X-tream management programme, according to chancellor Anna Plechata Krausova, who said it aims to “directly address the employment market’s demand for resilience”. Plechata described it as practical, offering learning experiences and skills to prepare students for the real world; individual in its approach to support and mentoring in order to unlock students’ potential; and fostering lifelong learning, plus a community spirit and a sense of belonging. The Newton chancellor detailed the top ten skills as outlined in the World Economic Forum’s latest Future of Jobs report: these include analytical thinking; flexibility and agility; technological literacy; empathy and attention to detail, with resilience coming in at third place. She then highlighted the way in which Gen Zers and some younger millennials are said to be completely overwhelmed by stress, much more so than any previous
those in charge of data analysis”. Gimranova talked about competition in the sector saying that it “is now global due to greater availability and micro-credentials, so the challenge is how to keep degree programmes in demand”. Mitescu agreed, adding “business education has gone international – we are competing for the same students”. Universities as catalysts for transformation Laura Sivula, business area director for life-wide learning at Aalto University, examined the role of universities in the modern world, which she described as having migrated from “degree-driven to learning-orientated”. While universities have previously focused on research and students obtaining a degree, they are now firmly at the centre of strategic development and need to upskill professionals to help them navigate the constantly changing business landscape. This means that education is shifting towards shorter programmes that can be bundled to meet the diverse needs for upskilling and reskilling, given that new competences are required to keep pace with rapid technological change. Sivula then outlined some of the current challenges faced by business schools; these include resistance to change, funding and the digital divide. Resistance to change is a natural human response, noted the Aalto director, “especially in institutions with long-standing traditions such as universities”, while digital transformation “requires significant investment in technology infrastructure and training”. The digital divide, meanwhile, not only affects different socio-economic groups, but also spans generations, creating a gap between those who grew up with technology and those who did not.
The beautiful Municipal House Restaurant was the venue for the conference networking dinner
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