Ambition is AMBA’s thought leadership magazine, offering regular insights into the challenges and trends that matter most in global management education
The monthly magazine of the Association of MBAs (AMBA) BE IN BRILLIANT COMPANY Ambiti n
Issue 55 JULY/ AUGUST 2022
Success & sustainability
Preparing leaders to do good and
focus on the bottom line
AMBA & BGA GLOBAL CONFERENCE The role of Business Schools in shaping the future: business education in an age of global fragmentation
LEADING BY EXAMPLE AMBA’s MBA Leadership Award Winner Theresa Grant OBE shares her thoughts on four decades of senior leadership
EMOTIONALLY DEMANDING JOBS Is there a growing danger of social contagion?
AMBA & BGA Latin America Deans & Directors Conference 2022 Cartagena, Colombia 21–23 September 2022
This unmissable gathering of Business School leaders from across Latin America is designed to address pressing issues in business education. Expert speakers from around the world, representing leading corporate organisations as well as your fellow Business Schools, will join us in this beautiful city to inspire collaboration, facilitate debate, and share personal and professional experiences from the world of business and management education.
For more information about the venue and conference programme, and to book your place, visit: www.associationofmbas.com/ latamconference2022
Issue 55 | JULY/AUGUST 2022
STRATEGY
NEWS & INS IGHT
08 | ROUNDUP Traits of green entrepreneurs, impact of the four-day week, perspectives on ESG, and more 12 | AWARDS Final call for entries for the AMBA & BGA Excellence Awards 2022/23. Don’t miss your chance to showcase your School’s achievements
14 | GLOBAL INSIGHTS Experts from Business Schools around the world share their thoughts on future business education strategy
30 | SUSTAINABLE AND SUCCESSFUL
Rather than seeing a trade-off between
doing good and making money, today’s leaders need to aim to achieve one through the other – and Schools must prepare them to do this
There needs to be a course in the curriculum where management students learn about the nature of global challenges
xcellence E Awards AMBA&BGA 2022/23
The AMBA & BGA Excellence Awards bring together the leading lights of the global business education community to celebrate excellence among Business Schools, students, graduates, suppliers, and employers that share AMBA & BGA’s values of ambition, impact, and integrity.
With nine categories for AMBA-accredited Business Schools to choose from, you will have numerous opportunities to showcase your achievements – especially considering the challenges we’ve faced this year, as a global community.
Winning, or being shortlisted as a finalist, is a fantastic way to tell the world about the great initiatives your School has launched.
The closing date for entries is Friday 22 July 2022. The winners will be revealed at our Gala Dinner on 9 December 2022.
www.associationofmbas.com/school-events/the-amba-bga-excellence-awards-2022-23/
Issue 55 | JULY/AUGUST 2022
INTERVIEW 36 | LEADING BY EXAMPLE With four decades of experience in leadership, Manchester Metropolitan University MBA alumna Theresa Grant OBE won the AMBA MBA Leadership Award in 2022 for her sterling work in local government
REGULARS
42
06 | EDITOR’S LETTER Looking back – but looking forward to a bright future for Ambition 42 | HUB HIGHLIGHTS Opportunities to start marketing in the metaverse, face-to-face versus online recruitment, creating a roadmap that sets your digital transformation up for success, and much more
OPINION 44 |THE DANGERS OF SOCIAL CONTAGION How can organisations ensure that the positive impacts of social networks for some outweigh the negatives for others? Andrew Parker explores the issues 46 | FROM THE CEO
OPINION
Signing off my final edition OF AMBITION
EDITORIAL Editor David Woods-Hale
Art Editor Laura Tallon
‘Thank you for letting me visit your outstanding family’
Content Editor Tim Banerjee Dhoul t.dhoul@associationofmbas.com Insight and Communications Executive Ellen Buchan e.buchan@associationofmbas.com CORPORATE Head of Commercial Relations Max Braithwaite m.braithwaite@associationofmbas.com Commercial Partnerships Manager Emily Wall e.wall@associationofmbas.com
ime seems to have flown by since I plonked myself down at my (then) new desk at the AMBA office in 2016 to start work on my very first edition of Ambition . Now, after 55 issues, the time has come for me to put my notebook away, switch off my trusty dictaphone, and sign off my final edition of the magazine as editor. To say my adventures in higher education have been like a rollercoaster since my first day would be an understatement. In 2016, we faced a time of uncertainty and political disruption, and then, as if overnight, we were suddenly managing through the 2020 Covid-19 pandemic, amid unprecedented digital transformation in business education. However, these changing times have given me plenty to write about and, throughout this period of flux in the Business School arena, you’ve been kind enough to meet with me to share your challenges and your achievements. I calculate that I’ve been in contact with – or have interviewed – leaders from more than 250 Schools in the network since I joined AMBA & BGA, and I want to thank you for your time, your patience (!), your counsel and, most importantly, the work that you continue to do. In the marketing department, we use the term ‘AMBA family’ to describe AMBA’s network of accredited Schools; to the untrained ear, this could sound fluffy. It’s not. At our Global Conference in Lisbon, in May, delegates were delighted to meet, collaborate, and work together to face the ongoing uncertainty in our world as a united, engaged, and passionate collective. Thank you for letting me visit your outstanding family. I’ve edited thousands of features and articles – written by you and your students – many tackling difficult issues such as #metoo, #BlackLivesMatter, war, poverty, modern slavery, geopolitical reform, social justice, and the climate emergency. But, in its purest form, the purpose of a business magazine such as Ambition is to inspire readers and help them to ‘do their jobs more effectively’. I hope we’ve offered some help to you – and I have absolutely no doubt that the fantastic colleagues with whom I have been privileged to work at AMBA & BGA will continue to do this for many years to come. Thank you once more and goodbye (for now). David Woods-Hale , Editor, Ambition
Head of Marketing and Communications Leonora Clement
Marketing and Communications 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
Chief Executive Officer Andrew Main Wilson
HIGHLIGHTS FROM THE AMBITION PODCAST
Executive Assistant to the CEO Sharon Sidaway s.sidaway@associationofmbas.com ACCREDITATION ENQUIRIES accreditation@associationofmbas.com
the UK alone, stress is also triggering almost half of the workforce to look for an alternative job. Despite ‘wellbeing’ becoming a more mainstream topic, a change in employer attitudes to mental health is still overdue. Lesley Cooper, CEO of Working Well, joined us to talk about her passion for helping companies to manage workplace pressure in a way that facilitates growth and development for individuals, teams and leaders – instead of energy- and performance-depleting stress.
If evidence and activism alone are not accelerating the change we urgently need, what will? This is the question Neil Gaught, author of CORE The Playbook, asks as he campaigns for business to do better for our planet. On the AMBITION Podcast, he shared his optimism for the future of the planet and how he thinks MBAs need to be at the forefront of the environmental challenge. How can employers break the link between pressure and stress and turn pressure into growth, engagement, and performance? Workplace stress not only causes sleep loss; research shows that, in
www.associationofmbas.com/podcast
Copyright 2022 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
6 |
Ambition | BE IN BRILLIANT COMPANY
The monthly magazine of the Association of MBAs (AMBA) BE IN BRILLIANT COMPANY Ambiti n
Issue 43 MAY 2021
AMBA’s Ambition magazine
offers thought leadership, insight, advice and analysis of key trends in business, and is tailored exclusively for Business School leaders.
Cutting through the noise...
IMD on preparing managers for a future of continuous anticipation and adjustment
LEARNING FROM LITERATURE: ‘Good leaders read a lot.’ The importance UPF Barcelona School of Management places in culture and the humanities
REIMAGINING THE ALUMNI CLUB: Mannheim Business School emphasises the value of continuity in clubs that have been going from strength to strength
RISK-TAKING TO ENGAGE STUDENTS: The value of humour and how TBS Education’s David Stolin struck up a partnership with a renowned comedian
SUBSCRIBE TODAY to Ambition magazine in print and remain ahead of the curve: www.associationofmbas.com/product/ambition-magazine-subscription/
NEWS & INSIGHT
NEWS & RESEARCH
from across AMBA’s Global Network
Character traits of green entrepreneurs, the projected reverberations of changes to Chile’s mining sector, and mismatched perspectives on ESG issues. All this and more in the latest roundup from Ellen Buchan and Tim Banerjee Dhoul
8 |
AMBITION | Be in Brilliant Company
IS A FOUR-DAY WORKING WEEK GOOD FOR BUSINESS? COUNTRY: UK SCHOOL: Henley Business School, University of Reading
DO GREEN ENTREPRENEURS HAVE SPECIFIC PERSONALITY TRAITS? COUNTRY: Germany SCHOOL: TUM School of Management, Technische Universität München Startup leaders with sustainability and the reduction of climate change at heart are more likely to be extroverted and open to new experiences, according to results of a study from Hanna Hottenrott, a Professor of the Economics of Innovation at TUM School of Management. Hottenrott, together with co-author Gary Chapman of De Montfort University’s Leicester Castle Business School, wanted to find out whether specific personality traits define ‘green’ entrepreneurs – given a general assumption that founders’ personalities often inform the values of their companies. They looked for evidence of the so-called ‘big five’ of personality psychology – openness to new experiences, conscientiousness, extraversion, agreeableness, and neuroticism – among the founders of 3,053 companies from different sectors that were established between 2011 and 2016. Only 37% of these companies, Hottenrott noted, offer products with significant environmental benefits. ‘Above all, openness and extroversion significantly increase the probability that the topic of sustainability in products and processes will play a major role in the company, while the personal expression of neuroticism tends to inhibit this,’ said Hottenrott. Due to its perceived importance in the startup space, the study also looked for founders’ risk tolerance. Here, however, the results suggest that an entrepreneur’s willingness to take risks does not have a major influence on the sustainability of the startup. Given the findings, the TUM Professor believes more people could be encouraged to found green(er) companies through exposure to relevant role models. – ‘for example, by bringing potential founders with low extraversion or openness scores into contact with those who are already successful with green startups,’ Hottenrott explained. ‘Positive role models can encourage founders to develop sustainable ideas that they would not otherwise have dared to approach.’ There is also a recommendation for further research into the impact of more personality traits of potential interest, such as altruism, narcissism or a willingness to cooperate. / Tim Banerjee Dhoul (TBD)
The pandemic has demonstrated just how well flexible working arrangements can work, but is a four-day week pushing flexibility too far? What would the knock-on effects be for society? Businesses that have introduced a four-day week claimed to have saved an estimated £104 billion GBP, according to a study from Henley Business School’s James Walker, Director of Research and Rita Fontinha, Associate Professor in Strategic, Human Resource Management, entitled The four-day week: The pandemic and the evolution of flexible-working. The study surveyed 2,000 employees and 500 business leader, of the businesses surveyed, 65% were implementing a four-day week – a rise of 15 percentage points since 2019. Other benefits reported by companies operating four-day weeks include 78% saying that their employees are less stressed at work, 68% saying they have been able to attract and retain the right talent, and 64% stating that the quality of work they produce has improved. From the employees’ perspective, 69% said that working four days for the same pay, while being able to choose the day they took off, is the best option. The key benefit among respondents here is the perception that their personal life would improve, cited by 68%. When asked how they would spend their extra day off, 51% said they would pick up a new hobby. Notably, 58% said they would do more shopping, and 48% said they would eat out at restaurants, indicating the potential boost a four-day week could provide to the economy. In addition, 32% of respondents said they would use the extra day for work outside of their primary employment – either setting up their own business or working in another sector. While a four-day working week was seen as a positive move by most, 45% of employees were concerned that taking the option of a four- day week would be perceived as ‘lazy’ by their colleagues and 35% were worried about handing over their work to their colleagues. / Ellen Buchan (EB)
| 9
AMBITION | Be in Brilliant Company
NEWS & INSIGHT
SWEEPING IMPACT OF MINING CHANGES PROJECTED IN STUDY
MISMATCH BETWEEN BUSINESS AND PUBLIC OPINION ON ESG ISSUES COUNTRY: UK SCHOOL: Birmingham Business School, University of Birmingham governance (ESG) issues, according to a survey commissioned by Birmingham Business School. One of the biggest disparities can be seen in net- zero strategy. While 74% of British adults believe that businesses should have a net-zero strategy, 50% of business decision-makers admitted that their companies did not currently have one. Another area of contention is in reporting on pay. Businesses are not meeting the standard expected by public opinion on environmental, social and corporate More than half (52%) of the public thought that the gap between the highest-paid and lowest-paid employees should be published, whereas only 14% of business decision-makers agree with this. There is also a misconception of what consumers want from business. A third (28%) of people surveyed said they would choose the most sustainable consumer option if they were given the right information, whereas only 13% of business decision-makers believe that this would have an impact on consumers’ decision-making. These results – from a survey commissioned by Birmingham Business School’s Lloyds Banking Group Centre for Responsible Business and carried out by YouGov – canvassed 1,104 senior business decision- makers and 2,233 British adults. ‘What this survey proves is that business is stuck in the traditional view of what it’s purpose in the world is,’ said Ian Thomson, Director of the Lloyds Banking Group Centre for Responsible Business, and the author of Urgent Business. ‘The business community needs to completely revolutionise the way it sees itself and make radical changes in order to reach net zero, and have a positive impact on the world. If business doesn’t make the most of the time we have left to make these changes, then before we know it, it will be too late,’ . A key problem identified by the survey is that engaging with ESG issues is seen as a luxury by some businesses, with the results suggesting that most businesses are not making any radical changes to become more sustainable. Large businesses, in particular, tend to be making only minor changes if they are making any positive changes at all. / EB
COUNTRY: Chile SCHOOL: Faculty of Economics and Business, Universidad del Desarrollo
Between 142,000 and 187,000 jobs – up to 3% of total employment in Chile – could be affected if mining production were to fall by 10%, according to a study by the Faculty of Economics and Business at the Universidad del Desarrollo (UDD). Entitled Global effects of a fall in the Mining GDP , the study came amid proposals for a new mining tax, or royalty, in Chile which many in the industry believe would impact negatively on production. A fall of 10% is estimated to bring with it a direct 1% drop in Chile’s GDP, as well as additional drop in GDP of between 0.8% and 1.3% because of the way in which the mining sector interconnects with other industries. The example of a 10% drop in mining production is said to represent one of the more moderate estimates among commentators who have tried to work out how a range of proposed changes to the mining sector might impact Chile’s economy. ‘The mining sector has important linkages with the rest of the economy, mainly through “upstream” linkages,’ said Rodrigo Cifuentes, who led the study. ‘This systemic importance stems both from its size and from the inputs it demands from other sectors. It is the third most important sector in the Chilean economy, preceded only by the manufacturing industry and the trade, hotels and restaurants sector.’ Most affected, according to the UDD study, would be business services (which in the projection would experience a decline of 1.7%); electricity, gas, water and waste management (2.3%), and construction (1.8%). A higher decline, of 3.5%, was calculated for the sub-sector of non-residential building and engineering works. Chile’s constitutional convention has since rejected some of the more controversial proposals made to reform the mining industry, including plans to nationalise the country’s copper and lithium mines (Chile is the world’s top copper producer and second-top lithium producer) thereby restricting private property rights in these areas of the industry. However, the debate over the future of this linchpin of the Chilean economy continues in other official channels. / TBD
10 |
AMBITION | Be in Brilliant Company
WELLBEING SCHEME PILOTED
COORDINATING INTERDISCIPLINARY CLIMATE CHANGE RESEARCH AND COLLABORATION COUNTRY: Denmark SCHOOL: Copenhagen Business School Copenhagen Business School (CBS) has highlighted its commitment to research that seeks to alleviate the problems of climate change with the creation of a Vice Dean for Green Transition. A key facet of the position will be to coordinate research partnerships between the social sciences and other disciplines, particularly in the STEM area, and to ensure the School engages in national and international interdisciplinary initiatives in green transition. ‘This appointment shows the green transition area has a great managerial focus at CBS, and it is an important joint task which affects research as well as education here,’ said Søren Hvidkjær, Dean of Research at Copenhagen Business School. ‘The Vice Dean is to pioneer the effort of bringing our green focus areas together to develop them and build bridges to companies, politicians and other research institutions.’ The School’s first appointment to the role is Hanne Harmsen, a Green Transformation Officer at CBS, and a former Executive Vice President at Innovation Fund Denmark. She has also served as Vice Provost for Education at the University of Copenhagen, and Associate Dean of Strategic Management at Aarhus School of Business. ‘The green transition debate has tended to focus on technology, but we also need to focus on social sciences,’ she explained. ‘For instance, CBS delivers knowledge on consumer behaviour and economic models to measure the impact of new initiatives. And we have knowledge on how to lead an organisation facing green transition initiatives.’ The School believes it can play a significant part in reducing climate change. It also feels that new research, education programmes, innovation, and greater collaboration across sciences and sectors are required for Denmark to achieve its goal of becoming carbon neutral by 2050. / TBD
AT IE BUSINESS SCHOOL
COUNTRY: Spain SCHOOL: IE Business School
A pilot wellbeing programme at IE Business School is proving so successful that it will now be replicated around the whole of IE University. The programme was introduced by the IE Centre for Health, Wellbeing and Happiness, and is delivered through workshops. Two sessions delivered over a three-week period have the aim of teaching students coping mechanisms, and giving them tools to invest in themselves continually. The students taking part in this workshop produce their own wellbeing plan, outlining where their existing strengths in personal wellbeing lie, and what strategies they could put in place to improve it. With the goal of helping students create positive emotions and applications to understand what is important in life, the programme draws on the PERMA-H model (Positive emotions, Engagement, Relationships, Meaning, Accomplishment and Health) that was conceived by University of Pennsylvania’s Martin Seligman. Armed with this knowledge and awareness, the programme hopes to give its participants the ability to manage themselves better. ‘Wellbeing in Practice is a workshop to build awareness about student wellbeing, the interconnection of body-mind-soul, and to leverage the science of positive emotions to cultivate ownership and action around wellbeing,’ said Lisa Bevill, Academic Director of the Centre for Health, Wellbeing and Happiness. Students who have already taken part have been positive about their experiences. Global MBA student Saki Kozai said: ‘It was a great opportunity to learn about wellbeing at the beginning of my MBA programme because it would be challenging to balance MBA, work, and parenting for me. Learning the tips to stay healthy, physically and mentally, will definitely help me during the programme.’ IE Business School Dean Lee Newman commented: ‘This workshop is one example of the importance we place on how working well means not just delivering on results but fostering the wellbeing of the people we work with.’ / EB
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA’s Content Editor, Tim Banerjee Dhoul, at t.dhoul@associationofmbas.com
| 11
AMBITION | Be in Brilliant Company
NEWS & INSIGHT
THESE IS STILL TIME TO ENTER THE xcellence E Awards AMBA&BGA Here are some key details about
With a 22 July closing date for entering the 2023 AMBA & BGA Excellence Awards, there is still time to pull together a stellar entry to impress our panels of judges. David Woods-Hale provides all the salient details The AMBA & BGA Excellence Awards bring together the leading lights of the global business education community to celebrate excellence among Business Schools, students, graduates, suppliers, and employers that share AMBA & BGA’s values of ambition, impact and integrity. Enter at www.associationofmbas.com/school-events/the- amba-bga-excellence-awards-2022-23
the award categories. Categories for Business Schools to enter: The Best Innovation Strategy award is a fantastic way to celebrate achievement, motivate and encourage entire teams, and let your students, peers, prospects, customers, and alumni know precisely how you are pushing boundaries in terms of creativity in practice. It promotes the values of taking risks in pursuit of the new in different categories such as teaching, learning, recruitment, and alumni relations. The Best Lifelong Learning Initiative award recognises the efforts of AMBA & BGA member Schools that are reinventing teaching and learning among students, graduates, alumni networks, and custom a nd executive education.
The closing date for entries is
Friday 22 July 2022
12 |
AMBITION | Be in Brilliant Company
The winning entries will showcase the impact and success these initiatives have had not only on students but also on the Business School. The Best Business School Partnership award recognises organisations that share AMBA & BGA’s passion for building networks, and have adopted a proactive, innovative approach to strategic collaboration. It is open to any Business School working strategically and collaboratively with (for example) another Business School or group of Schools, an employer, a consultant, an education partner or technology provider, a social impact group, an individual, a charity, or another organisation. The Best Culture, Diversity and Inclusion Initiative award recognises Business Schools and the work they have been doing to create, incorporate and develop culture, diversity and inclusion practices into their Business School, while balancing and involving fair working environments. The Best CSR and Sustainability Initiative award honours AMBA-accredited and BGA-member validated and accredited Business Schools that share our commitment to corporate social responsibility (CSR) and sustainability, and are passionate about making a difference to communities and societies. The award recognises Business Schools that are taking the initiative in creating a sustainable future, and teaching students about social values, as well as making a positive impact in practical and measurable ways. AMBA’s MBA Student of the Year award plays a pivotal role in supporting AMBA’s pledge to promote the MBA as the leading international business qualification. The MBA Student of the Year award recognises students who have shown exceptional career potential, and who AMBA believes can act as ambassadors for the high quality of accredited MBAs, and the opportunities these programmes provide for students from a wide range of different personal and professional backgrounds. It doesn’t just reward ‘straight-A’ students but also focuses on leadership potential and career progression. The MBA Leadership Award honours alumni from AMBA- accredited Business Schools who have been making an impact in the business world following their graduation. The award recognises the great work of these graduates through their achievements, performance and profile. This
important award will give graduates the chance to stand out and showcase their work following graduation.
The MBA Startup of the Year Award encourages and promotes the value of start-up business strategy and innovation in the current competitive climate, and showcases its importance in the global market. The MBA Startup of the Year award is open to both private and public sectors. This award is designed to celebrate innovative business strategy – taking something from idea to action. Judges will be more interested in the idea and potential of the venture, and its plans for the future, than any financial or monetary results in the early stage. The business must have been operational (selling/trading) for a minimum period of one month and a maximum period of two years at the closing date for entries. The MBA Entrepreneur of the Year Award is one of the most distinguished awards in the industry. AMBA has developed the MBA Entrepreneur of the Year Award to encourage and promote the value of entrepreneurship in the current competitive climate, and to highlight its importance in the global market. This award celebrates the achievements of successful alumni in innovative world- class business strategy, but also showcases Business Schools that are nurturing a spirit of enterprise and ambition. The MBA Entrepreneur of the Year award is open both to private and not-for-profit sectors. This award is designed to celebrate the impact made by growing organisations in terms of development, and will look at the results and achievements of the operation – so the business must have been operational (selling/trading) for a minimum period of two years, and a maximum of five years at the closing date for entries. For all student and graduate categories, the nominees must be put forward by their Business School, and a decision-maker from the School will be required to submit the entry on the individual’s behalf. Only one nomination from each School may be made in each category. Awards for BGA Schools If you are a BGA member or accredited School, there are additional award categories including The BGA Impact Award, and BGA Student of the Year. You can find out more about these at www.businessgraduatesassociation.com/ bga_events/amba-bga-excellence-awards-2022-23
| 13
AMBITION | Be in Brilliant Company
STRATEGY
The role of Business Schools in shaping the future: business education in an age of global fragmentation
14 |
In May this year, AMBA & BGA chose the magnificent Portuguese capital of Lisbon as the venue for its AMBA & BGA Global Conference for Deans and Directors 2022. Speakers, including some of the world’s leading deans and business leaders, presented on the issues most prevalent to Business School strategy. Keynote speakers shared insights into powerful new innovations set to revolutionise management education in the ‘new normal’. The conference explored themes such as innovation; hybrid teaching; lifelong learning; responsible management; diversity, equality, and inclusion; sustainability; partnerships and alliances; student experience and wellbeing; and faculty development. David Woods-Hale reports on some of the key messages from the event
| 15
Ambition | BE IN BRILLIANT COMPANY
STRATEGY
Can Business Schools shape the future of our world? Runaway climate change and rampant inequality are ravaging the world. Who will lead us to a better future? These massive challenges – and shifts, including pandemics, resource pressures, and shrinking biodiversity – threaten our existence. Megatrends, such as the push for a clean economy and the unprecedented focus on diversity and inclusion, offer exciting opportunities to heal the world and prosper. But governments cannot do this alone, and business must step up. The AMBA & BGA Global Conference 2022 kicked off with a frank discussion between AMBA & BGA CEO Andrew Main Wilson, and Paul Polman, former CEO of Unilever and co-author of Net Positive , who explained how businesses and Business Schools can profit from fixing the world’s problems together. Given the crises in the world today, Main Wilson asked Polman about his own observations around the climate emergency. ‘The sense of urgency has never been higher,’ said Polman. ‘The UK Met Office has predicted that we’ll pass 1.5 degrees of climate change in the next five years. Our current projection is a 14% increase of carbon emissions [by 2050]. ‘Since Covid, we have seen an increase in climate action. [The pandemic gave us] a pause and a moment of reflection, and this led to a change in trajectory, which – I think – is here to stay. In 2021 alone, we added 30% more renewable power in Europe. Companies are moving and making commitments on science-based targets, which is important. ‘We are at the point at which the cost of not acting is higher than the cost of acting. People are moving rapidly from seeing climate action as “risk mitigation”, to seizing an opportunity.’ But he added: ‘There are forces at play that are holding us back. Food and energy prices are holding us back. There is a part of government and even business that wants to go back to the “old world” and get more fossil fuels from the ground. ‘We have to fight against this, because it would be a disaster. On food security, there are people who want to cut more forest to respond to the food crisis. We need to resist this and accelerate the transformation to more regenerative agriculture. ‘We need to work together to deal with these global issues. We are growing apart – and this will be the biggest challenge, because we must work together as citizens of planet Earth.’ Polman moved to discuss the Unilever Sustainable Living Plan, which was designed to decouple growth of business from environmental impact, and to increase positive social impact. ‘It is a philosophy through which we take responsibility for our total hand print in society,’ he said. ‘We do not think companies
can outsource their value chain and their responsibilities. Profit through purpose is very possible. Our purpose [at Unilever] was to make sustainable living commonplace, and this is important because it gave direction to the company and provided a sense of certainty. We wanted to be driven by impact, while being profitable. ‘At Unilever, our engagement went up; our employer brand went up; our resilience and our value chain went up; our innovation started to increase – and all of this translates into better results. We truly behaved like billionaires – through supporting billions of people – and this is what counts. It starts with courage. ‘Courage and commitment are vital. If science says we must cut carbon by 30%, we must make that commitment. But it takes courage to work with government to drive these commitments and the change. ‘Ask yourself two very simple questions: “Am I solving the world’s problems or creating them?” and “Is the world better off because my organisation is in it?”.’ Moving on to address the delegation of Business School deans, Polman said: ‘Management education plays an incredibly important role in galvanising companies and broader society. You have to educate future leaders to do this. We are short of both leaders and trees. Business education is the most followed [academic area] in the world, and when people enter into it they are still lofty in their goals and keen to make a difference in the world. When they leave, research shows, they want to make [more money]. ‘Somehow, we are turning wonderful human beings into monsters. This is a crisis of greed, selfishness, and apathy. ‘It’s so important that we create these leaders who are systemic thinkers, driven by a sense of purpose, who embrace the power of partnership, and can think a little bit broader than the narrow definition of a Business School, or maximisation of profits. They need to understand the power of humanity and taking care of our human capital. ‘Management education needs a drastic change – and not a day too soon if we want to achieve these sustainable development goals. Rankings are still too based on starting salaries; research is valued in a way that makes co-operation difficult.’ Concluding the session, Polman said: ‘Two-thirds of students want to learn more about sustainability, and want it integrated into their programmes; 80% of students want to work for companies that use environmental practices. Frankly, universities are not responding at the level we need. Your own research shows
16 |
Ambition | BE IN BRILLIANT COMPANY
PAUL POLMAN Former CEO, Unilever
ANDREW MAIN WILSON CEO, AMBA & BGA
SHERIF KAMEL Dean, School of Business, American University in Cairo
FELIPE SANTOS Dean, Católica Lisbon School of Business and Economics
| 17
Ambition | BE IN BRILLIANT COMPANY
STRATEGY
digital learning, to develop an online portfolio. In terms of what we learned, Business Schools were like the proverbial frog in the pool, and in 2020, the water heated up fast, so we jumped. Now the water is cooler, but it’s still warming up as disruption comes – albeit more slowly. ‘Comfort is not good, and we need to avoid a sense of complacency. Zoom, for example, is not digital learning, so we need a “beyond-Zoom” digital ecosystem of learning, to be best in class.’ Matthew Thomas, Director of the MBA programmes at Birmingham University, added: ‘There is a difference between change and innovation. We’ve been through a change, but I’m not sure it was that innovative. During the pandemic, the solution was obvious, and we had to go online. We’ve all ended up in the same place, and this isn’t a good definition of innovation – we changed. ‘Today there is far more uncertainty and students know we can teach in far more flexible ways than we used to. We can reach people and places that we didn’t used to. That cat isn’t going back into the bag – we need to innovate. The change was hard, and for the innovation to follow, we need to summon the energy again.’ Małgorzata Gawrycka, Dean, Faculty of Management and Economics at Gdańsk University of Technology, added: ‘We think about a positive future and support our faculty and our students in achieving this. We research new ideas every day and this is important in predicting the future. We should remember our mission and strategy – although sometimes it might feel like a far-off dream.’ The rise of the Metaverse The metaverse is an immersive 3D virtual world that mirrors our world, and will replace the 2D searched-based internet.
that the bulk of [students] at your institutions recognise the importance of climate change, but only one third of Schools have [climate change] integrated in their curriculum – and it is not embedded in the whole learning experiences. ‘I have to say there is still more work to be done at the academic level.’ The innovation cycle Leaders in the field of Business School innovation came together to discuss the trends that decision-makers in higher education need to consider. A panel, chaired by Sherif Kamel, Professor of Management, and Dean of the School of Business at the American University in Cairo, delved into issues such as: digital transformation, and the future of business education; disruption in business education; evolving programmes and course delivery to reflect changing needs of students and the future needs of employers. Panellists used the time to outline their own predictions for a post-Covid-19 scenario in terms of how Business Schools can future-proof themselves for a ‘new normal’ and continuing volatility. The first panellist, Filipe Santos, Alfredo da Silva Professor of Social Innovation, and Dean of Católica Lisbon School of Business and Economics, explained: ‘Faculty and Schools are more agile than we believed we were. When forced to change, we did. For us, the transition to online went well. We had an issue with infrastructure – then during the pandemic suddenly all our classrooms needed to be digitally enabled, so we put this technical ability in place. ‘In our degree programmes, we saw no disruption whatsoever, so we launched new offerings. In executive education, we experienced disruption, so we identified themes that were more amenable to
18 |
Ambition | BE IN BRILLIANT COMPANY
MATTHEW THOMAS Director, MBA programmes, Birmingham University
MAŁGORZATA GAWRYCK Dean, Faculty of Management and Economics at Gdańsk University of Technology,
According to Forbes, the metaverse will totally change the way we live, learn, earn, and connect Right now, we are on the brink of another pivotal moment in tech history, the next frontier in online interaction. Something bigger than the internet is coming, and it will end the internet as we know it. Imagine a world like our real world, but one in which you can meet, shop, go to school, play games, be creative, be whoever you want to be – all while teleporting and time travelling to wherever you want to go. This is the metaverse. Roger James Hamilton, futurist, New York Times bestselling author and Co-Founder of Genius School, explained into how the gaming world is leading the way into a new 3D metaverse and will outline the key trends that are shaping our future. He launched into his session – which he joined via Zoom link – by saying: ‘Soon Zoom meetings are going to be a thing of the past.’ Hamilton went on to explain: ‘During the pandemic we’ve seen a huge shift in terms of how people consider their businesses and their work. This is like the shift in 1995, at the beginning of the internet. Some of the biggest companies in the world were created from the internet, so what will be created now?’ He answered his own question by explaining: ‘We’re seeing a great reignition – like a new renaissance – in which people are reinventing themselves, while others are left behind.
ROGER JAMES HAMILTON
Co-founder of Genius School
| 19
Ambition | BE IN BRILLIANT COMPANY
STRATEGY
‘Modern society has reached its limits and Society 5.0 is what will liberate us. This is the fifth revolution. Societal changes always start with technology – for example, basic tools, agriculture, the industrial age, the information age – and we’re about to shift, due to the metaverse, when the internet is speaking more through sensors and AI rather than us speaking to each other. ‘This is the imagination age, in which we can have an impact in the world through impact, and profit together, in a meaningful way.’ He concluded his presentation by saying: ‘We need to consider what we want to see from the world in the coming decade. If the current system doesn’t enable this, we need to consider how new structures and new systems can help. The metaverse is not just new technology – it’s a new generation taking the ability to shift things into their own hands. You can sink, swim or – my personal preference – surf.’ Urgent action needed – how Business Schools can lead the way in developing responsible, diverse, leaders of the future Business Schools play a vital role in preparing students for future employment by giving them the tools and skills needed to succeed in their professional lives. While this is a key component to improving the future, and building more awareness to responsible management, corporate social responsibility (CSR), and sustainability. It ultimately lies within the Business School to lead the way by trendsetting, innovating and evolving to the needs of our planet and to develop leaders of the future. Bodo Schlegelmilch, Chair of AMBA & BGA’s Board of Trustees, was joined by Josep Franch, Dean of ESADE Business School, Ramon Llull University, Clara Raposo, Dean of ISEG Lisbon School of Economics and Management, and Himanshu Rai, Director of the Indian Institute of Management Indore, to outline the main issues surrounding CSR, climate change and sustainability, and to discuss how, as a global community of business educators, we need to act collectively – and quickly – to future-proof leaders. Schlegelmilch described the era into which business education is moving, as a ‘vortex’. He explained: ‘We have so many developments going on, and they’re all connected to each other. We need to deliver different contexts. ‘We have a very different geographical footprint, but we have competitors coming in from different countries. We need to focus on the social impact we make, and how new priorities are shaping Business Schools, and we need to think about our purposes as business educators.’ Stimulating the discussion, Schlegelmilch asked the panellists whether they were optimistic about what Business Schools were achieving in terms of developing responsible leaders. Raposo explained: ‘I think we are doing a better job than five years ago. From
20 |
Ambition | BE IN BRILLIANT COMPANY
my experience, we are doing a lot. We are on the right path, but we need to take sustainability as an objective into the mission of our Schools. The pandemic has shown how we are interrelated – but we must pass the message to all our students, so they can relate the work they do to the impact they have. ‘We have to take sustainability seriously – talk about it, and make it part of the culture of the School. Our students must be open-minded, and understand the impact they have on others. ‘Equally, faculty have to be aware of how their teaching and research contributes to sustainability, within a structure of motivation. We need to refocus our research and intellect to understand the big challenges the world is facing – and pass it on in the curricula.’ Picking up the conversation, Rai moved to suggest what business education could do better. ‘Five years back, we were paying lip service to terms such as sustainability,’ he said. ‘We never practised what we preached. There is a lot of effort going in, but a lot more that can be done. ‘We need to move beyond empathy and move to compassion, and this can only be done through experiential learning.’ Concluding the debate, and commenting on the pressure on Business Schools to adapt MBA programmes or to make them shorter, Franch added: ‘The right word here is transformation. You can be under pressure, but [Schools] need to have an identity. I couldn’t care less about the threat of “three-month MBAs” – that’s not my game. [My concern is that] Business Schools need to change attitudes. ‘We have courses on sustainability and there is an urgency around including sustainability modules for rankings, but sustainability must be at the core of all courses – from marketing to finance. ‘We must redesign our core and change attitudes at our Schools. My recommendation is that students are a tremendous force for change in your organisation. Use them. You need to have a vision, change attitudes, and focus on transformation.’
BODO SCHLEGELMILCH Chair, AMBA & BGA
JOSEP FRANCH Dean, ESADE Business School
CLARA RAPOSA
Dean, ISEG Lisbon School of Economics and Management
HIMANSHU RAI Dean, IIM Indore
| 21
STRATEGY
The quest for student wellbeing For all Business Schools, wellbeing of both students and personnel has been at the epicentre of strategic focus during the past two years of the pandemic. Karen Spens, Rector of Hanken School of Economics in Helsinki, Finland, presented a session exploring how Business Schools have confronted the challenges posed by the Covid-19, addressing the needs of students, and finding out why putting student wellbeing at the core of any Business School agenda is the only recipe for success. ‘Student wellbeing has been a topic at the top of our heads for the past number of years,’ she said. ‘At Hanken, in 2019, our students were pretty happy, but in 2020 we were forced to shut down operations, and wellbeing was really negatively affected, so we took action. ‘We decided to collaborate with other Schools and universities on a national survey to find out how students were feeling across Finland. The idea was to look at wellbeing, what has been done, and how can we collaborate to help our students.’ The survey used text messages to reach students. Participants received a text with six simple questions, and results are still coming in. The questions asked how far respondents agreed with the following: 1. I have been able to complete my studies as planned. 2. I have been satisfied with my teaching this spring. 3. I look forward to more in-class teaching. 4. I would prefer to study remotely in the future instead of in class. 5. I have enough social interaction and do not feel lonely. 6. I’m happy with my life and feeling good. To date, the study has 2,500 respondents. ‘Students were, on average, pretty satisfied with teaching this spring,’ said Spens.
‘Most of them were able to complete their studies as planned, but the preference for remote studies varied a lot. Most students reported having enough interaction, but there are plenty that do not have enough social interaction.’ The study found that wellbeing was the most central factor to satisfaction. Those participants with the highest levels of wellbeing were most likely to have completed their studies and expressed satisfaction with their teaching. The study also revealed five student profiles: • Everything is fine – high achieving, high satisfaction; completing their studies as planned; strong preference for remote studies; on average, two years older than the average age in the sample. • In class preferrers – low preference for remote studies; completing their studies as planned; higher wellbeing than average; on average, two years younger than the average age in the sample. • Under achievers – low goal completion; unable to complete their studies as planned; less satisfied with teaching than average; strongly prefer remote studies. • Satisfied but not well – low wellbeing, high satisfaction; completing their studies as planned; no preference for in-class teaching. • Not well (30% of the sample) – low goal completion; not able to complete their studies as planned; less satisfied with teaching than average; slightly preferred in-class teaching. ‘The study revealed students with conflicting preferences,’ explained Spens. ‘But the narrative that students are not feeling well because the teaching is remote is only partly true. There are many with high wellbeing who would prefer to study remotely. ‘Students with high wellbeing are satisfied with teaching and can complete their studies as planned. ‘Engaging students is really important, as is enabling students to combine study with “other life”. They’re not asking for more
22 |
technology, but they are asking for more pedagogical approaches to what they’re doing. Experts who analysed the results reminded us that we have a generation of students shaped by the pandemic, and we cannot go back to the way we used to be. We need new models of thinking. ‘It’s concerning that students are feeling worried for their teachers. This is not the way it’s supposed to be. We need to think about work wellbeing and student wellbeing at the same time. ‘Wellbeing is something we cannot forget. Things are still not right – and those who need support must be given access to this. If we don’t take wellbeing seriously, technology and pedagogy will not enough for our students to be successful.’ Are brain computer interfaces and neurotechnology going to change the world? What are brain computer interfaces and neurotechnology? How are they changing the world and what applications might they have for business and management education? For many years, the human brain has been largely unexplored, and only in the 21st century has science truly begun to progress far enough into the field of neuroscience for effective neurotechnologies to develop and take shape. In this session, María López Valdes, Co-Founder and CEO of Bitbrain, a company specialising in neurotechnology, showcased how her company is researching and developing state-of-the-art neurotech and brain-computer interfaces, and explained the risks and promises these advancements are bringing to our future, for society and business. Bitbrain counts L’Oréal, Disney, Nissan, and Telefónica among its clients, and its solutions have served as the basis for more than 1,500 neuroscientific studies in the past two years. Valdez said: ‘Neurotechnology is the development of advanced technological tools that interact with our nervous systems and brains. Normally, people think of sensors that measure brain activity, but it’s more than this. It translates brainwaves into information. We are talking a broad technological concept; deeptech. This has the potential to impact industries and lives.’ Valdez explained that neurotechnology’s applications can be simplified into three categories: understanding people better by monitoring their brains; improving human capabilities; and simplifying human/machine interaction allowing direct brain-to-computer communications. But she moved on to discuss the opportunities and ethical challenges of the applications. ‘Would you allow your Business School to use neurotechnology to monitor student engagement?’ she asked. ‘A challenge we have is defending the right to mental data privacy. This “mental data” has access to non-conscious reactions.’ Moving on to talk about another opportunity, Valdez added: ‘We can train our brains to improve our mental agility, changing the rhythms that affect cognitive ability. Cognitive enhancement could be achieved by augmenting the differences
KAREN SPENS Rector, Hanken School of Economics
MARÍA LÓPEZ VALDES Co-Founder and CEO, Bitbrain
| 23
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48Made with FlippingBook - Share PDF online