Ambition is AMBA’s thought leadership magazine, offering regular insights into the challenges and trends that matter most in global management education
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Issue 51 MARCH 2022
How can Business Schools preserve their edge and adapt to emerging trends?
Business
DIGITAL ASSESSMENT How educators and innovators, can work together to find the right solution for examinations
AFRICA’S CHALLENGES Lagos Business School is preparing students to address prevalent problems in Africa
THE WINNERS The AMBA & BGA Awards 2022
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Issue 51 | MARCH 2022
STRATEGY
NEWS & INS IGHT
24 | ASSESSMENT In association with Inspera, we invited international Business School leaders to discuss how educators, innovators and operational staff can work together to find the right solution for examinations
09 | ROUNDUP AI’s impact, celebrity endorsements, how NGOs can sidestep unwanted donations, and more
14 | AWARDS The AMBA and BGA Excellence Awards 2022:
OPINION
celebrating Business Schools’ game-changing contributions at a time of global disruption
42 | GUEST COLUMN Deep tech is a movement which is transforming the way we understand technology and shaping our world in new ways 46 | CEO’S COLUMN Celebrating the third anniversary of the Business Graduates Association
Exams are no longer about remembering what you learned in class
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Issue 51 | MARCH 2022
36 | TRANSFORMERS As Covid-19 continues to cause disruption, Frankfurt School of Finance and Management is retaining its edge, according to its President Nils Stieglitz
INTERVIEWS 30 | PROBLEM SOLVERS Chris Ogbechie, Dean of Lagos Business School, talks about the challenges of leading through a pandemic and preparing students to tackle Africa’s most prevalent problems
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REGULARS
06 | EDITOR’S LETTER Unveiling AMBA’s research and insight portfolio for the rest of 2022 44 | HUB HIGHLIGHTS Find out about the weath of analysis, thought leadership and opinion available on the AMBITION website
We have seen disruptive technologies enabled by the pandemic changing the demographics of our knowledge economy on a global scale
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OPINION
Embarking on a new SERIES OF INSIGHTS
EDITORIAL Editor and Director of Marketing and Communications David Woods-Hale d.woods@associationofmbas.com @davidpaulwoods Art Editor Laura Tallon 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
‘This will be the widest research conducted with MBAs’
R egular readers of Ambition will know that a core focus of AMBA’s insight strategy is to bring relevant, practical and challenging research to our network and, with that in mind, we’re in the process of gathering information and data for what we hope will be most in-depth study into Business School strategies and MBA student and graduate behaviours. The first phase of our 2022 Business School survey will be launched this month, and you should receive an invitation to take part in the study. Throughout this year, this groundbreaking piece of research will investigate the demographics of the Business School; opportunities to democratise business education; strategies for Business School elevation; teaching and learning methods in business education; the commercialisation of higher education; the purpose of Business Schools; student user experience (including student recruitment, personalisation of course content, and wellbeing), and lifelong learning methods, including digital credentials. We hope that this cutting-edge research will empower you to benchmark your own strategy against those of your peers all over the world. It will also inform you on potential trends to look out for as we move forward in the volatile and uncertain world. At the same time, we will seeking the opinions of your students and graduates – among AMBA’s 60,000 members. We believe this will be the widest piece of research ever conducted with MBAs, canvasing their views on careers and the future of work; the impact of the pandemic; social and upward mobility; responsible management; the climate emergency, and international and political relations. In order to paint the most comprehensive picture of Business School outlooks and student and graduate experiences and aspirations, I’d urge you to share these surveys with your teams and with your cohorts and alumni; if you need any more information or the links to complete the questionnaires please email me. I look forward to sharing the results with you on these pages, later this year. David Woods-Hale , Editor, Ambition
Conference Producer Paul Thurston
Marketing and Communications Executive Edward Holmes
Marketing Executive Edward Jacques Membership Manager Tariro Masukume
Head of IT and Data Management Jack Villanueva HR and Employer Relations Manager Aarti Bhasin Finance and Commercial Director Catherine Walker
HIGHLIGHTS FROM THE AMBITION PODCAST
Dr Raman K Attri is on a mission to teach leaders how to attain excellence in a shorter time period. He’s an international expert on the science of speed in learning and performance and he joins The AMBITION Podcast to share techniques for increasing the speed and efficiency of leaders and their teams. He also explains why it is essential to develop a unique and personal leadership style, to set you apart and accelerate your own leadership journey.
Over the past two years – as we’ve grown accustomed to remote and hybrid ways of working – cybercrime has been on the rise. Research from Doherty Associates found that a small business falls victim to a hack every 19 seconds. As we move forward in this ever- uncertain new way of working, employers are coming under pressure to secure the buttresses of their cyber forts, and minimise their cyber risks. On The AMBITION Podcast, Terry Doherty, CEO of tech firm Doherty Associates, teaches listeners how to build virtual armour in the battle against the cyber criminals.
Chief Executive Officer Andrew Main Wilson
Executive Assistant to the CEO Amy Youngs a.youngs@associationofmbas.com ACCREDITATION ENQUIRIES accreditation@associationofmbas.com
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.
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Ambition | BE IN BRILLIANT COMPANY
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For course leaders, it provides actionable insights into gaps in knowledge right from the very start, so any issues can be picked up and remedied quickly, helping you ensure the success of all your students.
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NEWS & RESEARCH
from across AMBA’s Global Network
AI’s impact, celebrity endorsements, how NGOs can sidestep unwanted donations, and more. Ellen Buchan and Tim Banerjee Dhoul scour the AMBA network for the latest updates
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NEWS & INSIGHT
WHICH CELEBRITY COULD
A NEW MBA, FOR A NEW GENERATION COUNTRY: Italy SCHOOL: Graduate School of Management, MIP Politecnico di Milano Today’s managers face a range of big challenges that differ to what we’ve seen in the past: Covid-19, climate change, and uncertain international relations, for example, are behind many of them. As the challenges associated with these global problems evolve constantly, it stands to reason that managers must tackle the new iterations of these problems with evolved thinking. With this in mind, the Graduate School of Management, MIP Politecnico di Milano, has redesigned its full-time MBA, which will now be called the ‘New Generation’ MBA. The School – which worked on the redesign with consultancy company Mind at Work – hopes the programme will be more relevant to the current realities and problems experienced by managers. While the course will still teach students all the essential ‘hard’ skills that would be expected of an MBA graduate, the programme will now combine this learning with a more pronounced emphasis on soft skills. In particular, the course will cover meaningfulness, motivation and effectiveness, with the aim of improving students’ ability to engage with people on an emotional level and work with others effectively during high-stress situations. Federico Frattini, Dean of MIP Politecnico di Milano, said: ‘Business Schools have been criticised recently for their inability to contribute to training a new generation of leaders who are able to combine shareholder value with making a positive impact on society. This programme is a response to this criticism and has the potential to pave the way for a new approach to management education that is suited to the challenges that our society is confronted with.’ The MBA relaunch is designed to allow students to gain a deeper understanding of themselves and the people they work with. Participants will be taught the tools needed to understand business’ purpose in society and how to make an impact in a positive and sustainable way. ‘This is genuine personal and professional growth, a personal journey of discovery — not just so that you can make a difference, but so that you can become the difference,’ Frattini added. / EB
GET YOU EATING BUGS? COUNTRY: Norway SCHOOL: BI Norwegian Business School
If you watch I’m a Celebrity... Get Me Out of Here! (a reality-TV franchise where celebrities spend weeks living in the jungle and are set challenges), you might be used to seeing famous people eating insects. But does seeing your heroes eating bugs motivate you to do the same? Insects, a proven source of protein, have been held up as a potential solution to food shortages. However, although it is estimated that two billion people already consume insects regularly as part of their diets, it still seems that, for most of the world, there is still a squeamishness factor acting as a ‘deterr–ant’. BI Norway Associate Professor, Carlos Velasco, alongside researchers from the University of Oxford, Miyagi University and Chuo University, wanted to assess whether a celebrity endorsement would make people more likely to eat insects over non-endorsement advertising. The study, carried out for an article entitled Celebrity insects: Exploring the effect of celebrity endorsement on willingness to eat insect-based foods , used 66 fictitious ads for foods with insects in them, featuring 36 different celebrities – including actors, Angelina Jolie and Dwayne Johnson (The Rock) – to see which celebrities motivated consumers to eat insects. The results showed that a celebrity’s perceived trustworthiness, knowledge and relevance to insect-based food were all important factors in increasing people’s willingness to try the insect-based food in question. The research also found that participants’ gender had an impact on the ads’ effectiveness. Adverts with actors or athletes were the most influential for male participants, while women were most influenced by actors. Musicians were found to be the least effective form of celebrity endorsement for insect-based food. The perceived attractiveness of a celebrity was found not to be a factor in whether people were more or less likely to eat the insect-based food. Overall, the study concluded that celebrity endorsement could be a valuable way to encourage people to eat insect-based food, as long as the right type of celebrity was chosen. / Ellen Buchan (EB)
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ROBOTS ARE AS LIKELY TO CREATE JOBS AS DESTROY THEM COUNTRY: UK SCHOOL: University of Sussex Business School
TURNING AWAY UNWANTED DONATIONS WITHOUT SACRIFICING SUPPORT COUNTRY: USA SCHOOL: Olin Business School, Washington University in St Louis Not all donations are useful to a non-profit organisation. In 2018, for example, Australian charities are estimated to have spent $13 million AUD disposing of unwanted clothing donations. A non-profit can take steps to avoid the costs of unwanted donations – a food bank can reject certain items, for instance – but there are risks attached. Turning away a donation could deter people from making donations in future. One study showed that blood donors whose donations were rejected were found to be 29% less likely to donate again within 4.25 years than donors whose blood was accepted. These risks are supported in a study of donor responses to rejection from Kaitlin Daniels, Assistant Professor of Supply Chain, Operations and Technology at Olin Business School, in conjunction with the University of Pittsburgh’s León Valdés. Participants in the study repeatedly chose whether to complete a typing task that generated a donation which was subject to the possibility of rejection at an unknown probability. After experiencing a rejection, the number of instances in which participants completed the typing task (hence, donations) fell, with the conclusion drawn that this is because optimism in their success fell. Yet, when the typing task was instead linked to personal profit, the effect of a rejection on the subsequent number of completed typing tasks was less pronounced – indicating a level of self-serving bias. The results could help non-profits formulate the right approach towards unwanted donations and help them make better use of their resources. Ultimately, as Daniels explained, this can ‘ensure that waste is truly reduced—not transferred to downstream partners in the donations’ supply chain.’ Making donations easier is one recommendation, as is offering rejected donors an on-the-spot alternative, such as the ability to join a mailing list or to contribute in another way. ‘We show that offering rejected donors the opportunity to make a small monetary contribution mitigates biased response to rejection,’ said the Olin Professor. / TBD
The introduction of AI is just as likely to create jobs for humans as it is to take them away, according to the results of a survey of 759 UK employers led by the University of Sussex Business School and the University of Warwick. When firms implementing AI were asked how job numbers had been affected by the new technology over the past five years, less than a quarter thought that there had been a net job loss, with a similar number reporting a net job increase. Roughly half of firms felt that there had been no overall change in job numbers. Yet, introducing AI was found to have a bigger impact on job numbers than the introduction of any other new technology. Among respondents, AI was 28.4 percentage points more likely to be associated with job creation and 26.6 percentage points more likely to be associated with job destruction than other technologies. ‘While we can’t say for sure from the research how many jobs will be created or destroyed, it is likely that the automation of some tasks may mean fewer people are needed to perform some jobs, but that increased productivity may reduce costs stimulating sales and demand for workers overall. This, of course, is likely to depend on the specific AI-technology used and what employers hope to achieve by using it,’ said Wil Hunt, Research Fellow at the University of Sussex Business School. By focusing on what has been happening to firms introducing AI, rather than what might happen, the study aims to fill a perceived gap in our current understanding of AI’s impact. ‘There is very little analysis of what actually happens in organisations introducing AI-enabled technologies,’ explained Sudipa Sarkar, Senior Research Fellow in the Institute for Employment Research at the University of Warwick (Warwick IER). Chris Warhurst, Director of Warwick IER, added that the study represents ‘a step towards understanding how the introduction of AI-enabled technology can have different implications for organisations compared to other technologies.’ / Tim Banerjee Dhoul (TBD)
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NEWS & INSIGHT
HANDMADE PRODUCTS GENERATE MORE THAN JUST INCOME
A BURGEONING MARKET WITH COSTLY OUTCOMES UNDER THE MICROSCOPE COUNTRY: Australia SCHOOL: QUT Graduate School of Business, Queensland University of Technology (QUT) Sports betting practices are becoming ever more embedded in everyday life, according to Professor Ross Gordon, from QUT’s School of Advertising, Marketing and PR. Gordon is at the helm of an interdisciplinary project designed to learn more about betting practices among young Australians. ‘Sports betting is the fastest-growing segment of the Australian gambling market, generating $5.5 billion AUD in 2021. Furthermore, sports betting is heavily promoted, especially during the television broadcast of sports,’ he explained. While problems associated with betting in relation to problem gamblers are documented, less work has been done on the larger number of gamblers defined as low and moderate risk – the subject of this project. Sports betting apps are also a focus. ‘Sports betting apps facilitate betting practices as they are located on mobile smartphones, are well designed, convenient, and make placing bets easy,’ said Gordon, whose team has been looking at the use of such apps among a group of 50 participants, while being monitored with EEG (electroencephalography) and eye tracking. By understanding sports-betting practices, the project’s team – which includes researchers at the University of Glasgow, University of Wollongong, Swinburne and RMIT as well as QUT – hopes to offer insight to policymakers and support programmes. ‘Sports betting can come with considerable health, economic and social harms,’ explained Gordon. He pointed to research in which the social cost of gambling in the Australian state of Victoria was estimated to be $7 billion AUD in a year. Of this, $2.2 billion is said to be the costs of family and relationship problems, $1.1 billion government costs in terms of research, regulation and professional support services, with $100 million representing the estimated costs of crime to businesses and the justice system. / TBD
COUNTRY: Germany SCHOOL: TUM School of Management, Technische Universität München During the pandemic’s periods of lockdown worldwide, many people took to their existing hobbies, or acquired new ones, and turned them into businesses. Among these people, a great number have been selling handmade items on internet stores such as Etsy, Amazon Handmade, and Artfire. For some, these entrepreneurial pursuits were crucial for livelihoods, but new research from TUM School of Management suggests that those who sold products they made themselves were set to gain more than just money. Benedikt Schnurr, a professor at TUM School of Management, together with several other colleagues and researchers, looked into the impact of selling handmade products for a paper entitled, Sales and Self: The Non- Economic Value of Selling the Fruits of One’s Labour , which has been published in the Journal of Marketing. They found that selling handmade products increased people’s happiness beyond the economic returns from sales. When handmade items are bought, the happiness earned by the maker/ seller is more than the monetary reward from the sale, according to the researchers. The seller sees the sale as a form of self-validation from the market. The level of happiness increases along with the price paid by a customer, even when the seller’s returns do not increase at the same rate as the price paid, and when customers make an informed choice in buying their product. The paper also found that people were happier selling products they had made themselves than products other people had made. / EB
SHARE YOUR NEWS AND RESEARCH UPDATES by emailing AMBA & BGA’s Content Editor, Tim Banerjee Dhoul, at t.dhoul@associationofmbas.com
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NEWS & INSIGHT
THE AMBA AND BGA EXCELLENCE AWARDS 2022:
Celebrating Business Schools’ game-changing contributions at a time of global disruption
Despite the significant challenges of the past year, the winners of this year’s Excellence Awards have made a substantial difference to business, education and society. David Woods-Hale reports
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AMBITION | Be in Brilliant Company
I n January 2022, the AMBA & BGA team joined Business Schools, students, and alumni from around the world, for its virtual AMBA & BGA Excellence Awards 2022. This represented a unique opportunity for Business Schools to celebrate their shared successes throughout the past year, in spite of global turbulence, and to congratulate all the shortlisted entrants and winners of this year’s Excellence Awards. While the ceremony was virtual, due to the ongoing uncertaintly of the Covid-19 pandemic, no ‘new-normal’ or virtual event, could take away from the phenomenal achievements of our finalists – all of whom demonstrated excellence in the face of unprecedented disruption. This makes these awards even more special than usual. As you will discover over the coming pages, the AMBA & BGA Schools network continued to cope magnificently with the challenges caused by Covid-19, showing determination and innovation. Additionally, the students and graduates who were shortlisted as finalists have used their qualifications to achieve a spectrum of impressive results, making a positive contribution to business, education and society. We would like to offer our sincere thanks to our panels of judges for their passion and commitment to selecting the winners. The decisions were certainly not easy to make. Based on written submissions from Business Schools, and panel interviews with the finalists, the judges were asked to score all finalists confidentially; these anonymous scores were been added up to determine the winners in each category.
However, the unanimous feedback we received from our panel of experts was how impressed they were with the quality, creativity, and variety of achievements among this year’s entries from your Schools and students, and we are proud to celebrate these with you today. We would also like to take the opportunity to thank our sponsors Barco, McGraw Hill Education, Koretext, Wharton Research Data Services, and Insendi, a Study Group Company. Their support for our awards – and the business education sector – is greatly appreciated and has made this ceremony possible. And now, to announce the winners. In some categories, the judges were so impressed with the finalists that they have awarded bronze and silver awards.
BEST INNOVATION STRATEGY, IN ASSOCIATION WITH BARCO
This award is a celebration of innovation and radical thinking in business education delivery across all areas of the Business School, and has been developed to recognise and reward game-changing new practices, risks, and creativity around AMBA-accredited and BGA member programmes. It promotes the value of taking risks, in pursuit of the new, across different areas such as teaching, learning, recruitment, and alumni relations. The gold award for Best Innovation Strategy, in association with Barco, was presented to NEOMA Business School (France) for ‘NEOMA Business School Virtual Campus’. NEOMA Business School was the first Business School in Europe to respond strongly to the Covid-19 crisis by launching an online
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NEWS & INSIGHT
virtual campus for its students, professors and staff. The project aims to provide a place where studying, teaching, meeting, and chatting can again take place, without the need to be physically present at the School’s brick-and-mortar campuses. The tool NEOMA has chosen offers features that enable its community to stick to the reality of a Business School as much as possible. With 3,000 students and 491 professors and staff members enrolled, the Virtual Campus has naturally imposed itself as the School’s fourth campus. In this category, the judges decided to award the silver to UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘UCD Business Alumni Challenge – Around the Globe in 30 Days’. They decided bronze should go to MBA Centre, Shanghai University (China) for ‘Launch of New Global Industry MBA Specialisations’. BEST LIFELONG LEARNING INITIATIVE, IN ASSOCIATION WITH KORTEXT The Best Lifelong Learning Initiative recognises the efforts of AMBA & BGA member Schools that are reinventing teaching and learning among students, graduates, alumni networks, and in their custom and executive education offerings. The gold award was presented to IE Business School (Spain) for ‘Turn It Around – Alumni Engagement’. In response to the abrupt lockdown across many regions due to the Covid-19 pandemic, IE Business School designed a virtual toolkit – ‘Turn It Around’ – from March to July 2020, to support both students and alumni during this difficult time. It extended premium online learning content free of charge, showcased alumni making a difference in the world, and provided a comprehensive virtual experience related to professional development, networking, and wellbeing. The response from the community was phenomenal: more than 3,000 students and alumni participated in 56 online events, 906 signed up to the School’s peer-to-peer mentoring platform, and 119 alumni volunteered as speakers, or shared their story ‘up close’. In this category, the judges decided to award the silver to Imperial College Business School, Imperial College London (UK) for ‘MBA Student Enhancement Package’. They awarded the bronze to College of Economics and Management, Zhejiang University of Technology (China) for ‘GET – Gather Alumni, Enlighten Alumni, Turbo Alumni’. BEST CSR AND SUSTAINABILITY INITIATIVE The Best CSR and Sustainability Initiative award honours AMBA-accredited and BGA member validated and accredited Business Schools that share AMBA & BGA’s commitment to CSR, 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. The gold award in this category went to International Business School Suzhou, Xi’an Jiaotong-Liverpool University (XJTLU) (China) for ‘15 Ways in 15 Weeks’. The entry ‘15 Ways in 15 Weeks’ represented a semester-long initiative divided into weekly campaigns that drove sustainable positive behavioural change at the International Business School Suzhou.
The AMBA & BGA Schools network continued to cope magnificently with the challenges caused by Covid-19, showing determination and innovation
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Each week, themed activities and events took place across the UN Sustainable Development Goals-related topics such as waste management, plant-based diets, ethical finance, and sustainable transportation. The initiative resulted in the establishment of a Sustainable Future Talents student association, 13,000 RMB in charitable donations – and hundreds of healthier choices. For faculty, staff, and students, this led to positive life changes regarding the contributions individuals must make to achieve Agenda 2030. In this category, the judges decided silver should go to Indian Institute of Management Indore (India) for ‘Environmental, Social and Corporate Governance (ESG)’. They decided to award the bronze to Graduate School of Business, MIP Politecnico di Milano (Italy) for ‘Leave your Mark: An Important Opportunity for Students and Alumni to Grow’. BEST BUSINESS SCHOOL PARTNERSHIP, IN ASSOCIATION WITH WHARTON RESEARCH DATA SERVICES (WRDS)
The Best Business School Partnership award has returned for 2022. This recognises organisations that share AMBA & BGA’s passion for building networks, and have adopted a proactive, innovative approach to strategic collaboration. The award is designed to celebrate Business Schools working strategically and collaboratively with another Business School/group of Schools, an employer, consultant, education partner or technology provider, social impact group, individual, charity, or other organisation. The gold award was presented to International Management Institute (MIM-Kyiv) (Ukraine) with BookChef Publishing House. MIM-Kyiv and BookChef Publishing House entered a partnership to launch the MIM-Kyiv Recommends series of Ukrainian language translations of the world non-fiction bestsellers. Due to the partnership, MIM-Kyiv brings an international agenda to Ukraine, helps Ukrainian businesspeople to gain access to the most sought after business books, and even to meet some of the authors in person as a part of book club meetings, classes, and events. For BookChef, the partnership means expanding the readership and having a better understanding of business trends.
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NEWS & INSIGHT
The unanimous feedback we received from our panel of experts was how impressed they were with the quality, creativity, and variety of achievements
In this category, the judges decided silver should go to Gordon Institute of Business Science (GIBS), University of Pretoria (South Africa) with JP Morgan. They decided to award the bronze to UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) with ‘Their Lives Matter – Tumaini La Maisha (TLM)’. BEST CULTURE, DIVERSITY AND INCLUSION INITIATIVE, IN ASSOCIATION WITH MCGRAW HILL EDUCATION The Best Culture, Diversity and Inclusion Initiative is a new award which has been introduced to recognise 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. In this category, the gold award was presented to Centrum PUCP Business School, Pontificia Universidad Católica del Perú (Peru) for ‘Word of Women Academy (Academia Palabra de Mujer)’. In Perú, only 15% of women have access to university, but 53% of Peruvian SMEs were created by women, and Perú has 36% more women entrepreneurs than other Latin American countries. Therefore, Centrum PUCP and Financiera Confianza developed Academia Palabra de Mujer. Through eight courses, 650 women were
trained in a free programme that meant an investment of US$ 18,432. The project impacted more than 50,000 people on social networks, and had 20-plus appearances on media outlets. More than 80% of the participants commented that the programmes are changing their work and lives. In this category, the judges did not award a bronze winner, but they awarded a silver, which was presented to UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘Intercultural Development Programme (ICD)’. BGA BUSINESS SCHOOL IMPACT AWARD The BGA Business School Impact Award is open to BGA-member, validated, and accredited Schools which can demonstrate their impact on all stakeholders, alongside BGA’s vision and Charter. This award promotes the values of positive impact, innovation, responsible management and lifelong learning across areas such as programme design, social outreach programmes, alumni relations, careers services, and other areas where the Business School is demonstrating an impact. The gold award was presented to EGADE Business School, Tecnológico de Monterrey, (Mexico) for ‘Sustainable Wealth Creation Based on Innovation and Technology (SWIT)’. The SWIT model is a sustainable wealth-creation framework based on disruptive innovation and enabling technologies. It is an holistic approach that has been designed for sustainable wealth creation for developing regions.
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It focuses on teaching and creating enabling conditions, managing the allocation of resources, and the articulation of intelligent and inclusive synergies among stakeholders and institutions. It considers an integral system for management, and effective governance with a far-reaching objective: holistic regional growth. The SWIT model impact includes more than 28 national and international projects, 13 theses developed by graduate students, and an elective course offered to MBA students. In this hotly contested category, the judges decided to award no bronze prize, but instead awarded two silver gongs. In no particular order, these were presented to Centrum PUCP Business School, Pontificia Universidad Católica del Perú (Peru) for ‘Undertaking Tourism Now (Turismo Emprende Ya)’; and School of Economics and Management, Dongguan University of Technology (China) for ‘100 Groups in 1,000 Counties’. MBA STARTUP OF THE YEAR The MBA Startup of the Year celebrates the achievements of successful MBA students and alumni in innovative world-class business strategy. It also showcases Business Schools that are nurturing a spirit of enterprise and ambition. The award is for businesses that are between one and 18 months old. This award highlights the success of AMBA-accredited Business Schools that promote entrepreneurship in their MBA cohorts. It is also a chance for individuals to impress high-profile judges who are already at the forefront of global entrepreneurship. In this category, the judges were unanimous in deciding to award an outright gold winner: Sotirios Ptochos, Athens University of Economics and Business (Greece), for ‘PEOPLE Technology Solutions (PEOPLE)’. PEOPLE proposes to the world a green solution that concerns all of us. This startup represents a revolutionary approach to one of the most significant climate challenges by proposing sustainable transportation and supply chain solutions.
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AMBITION | Be in Brilliant Company
NEWS & INSIGHT
PEOPLE combines lightweight technology, internet of things, and advanced analytics that will revolutionise the standards of global freight transport by saving 205 million trees, reducing C02 emissions by 65 million tons every year, saving more than 20.5 billion litres of fossil fuel yearly, and moving 40 million tons of cargo at no additional cost or additional C02 emissions every year. MBA ENTREPRENEUR OF THE YEAR The MBA Entrepreneur of the Year 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. This award is open to entrepreneurs with organisations that have been running between 18 months and five years. 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. In this category, the gold award was presented to Ximena Aleman, Escuela de Postgrados en Negocios, Universidad ORT Uruguay (Uruguay) for ‘Prometeo Open Banking’. Ximena Aleman is Co-founder and Co-CEO at Prometeo, the largest Open Banking platform in Latin America, providing access to information and payments across 80 APIs from 35 financial institutions in 10 countries. In a little over two years, Prometeo has been able to gain the trust of major financial institutions such as Santader and Citibank, and has gained the support of investors from Silicon Valley, Europe and Asia. Over the past six years, Ximena has pushed fintech innovation, building three fintech startups and pioneering open banking adoption across the region. As a leader in her field, she has used her voice to promote female entrepreneurship in Latin America, and create awareness of the funding gap for women-led startups. The judges made the decision to award silver to Farwah Tapal, Esade Business School, Ramon Llull University (Spain), for ‘Oraan’. They awarded bronze to Moustafa El-Shenety, AUC School of Business, The American University in Cairo (Egypt), for ‘Zilla Capital’.
In some categories, the judges were so impressed with the finalists that they have awarded bronze and silver awards
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AMBITION | Be in Brilliant Company
MBA LEADERSHIP AWARD 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 work of these alumni through their achievements, performance, and recognition. In this category, the gold award was presented to Theresa Grant, Manchester Metropolitan University Business School, Manchester Metropolitan University (UK), currently working at Municipal Partners. Theresa Grant has recently been awarded the Officer of the Most Excellent Order of the British Empire (OBE) as part of the Queen’s Birthday Honours, in recognition of her outstanding leadership, innovation, determination, and commitment to Northamptonshire in the UK. Theresa dedicated 42 years of service to local government, most recently in her role as Chief Executive of Northamptonshire County Council. When she took on the role, the Council had declared bankruptcy. Under her leadership, three years later, it ended its 132-year history with a £16.6 million underspend in its budget, and £60 million in reserve. The judges decided silver should go to Zakhira Begaliyeva, Graduate School of Business, Almaty Management University (AlmaU) (Kazakhstan), currently working at Public Foundation ‘ITeachMe’ Center for ‘Competence Development’. They made the decision to award bronze to Mansi Madan Tripathy, SP Jain Institute of Management and Research (SPJIMR) (India), currently working at Royal Dutch Shell.
NEOMA Business School was the first Business School in Europe to respond strongly to the Covid-19 crisis by launching an online virtual campus
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AMBITION | Be in Brilliant Company
NEWS & INSIGHT
THE FINALISTS (IN ALPHABETICAL ORDER) BEST INNOVATION STRATEGY, IN ASSOCIATION WITH BARCO MBA Centre, Shanghai University (China) for ‘Launch of New Global Industry MBA Specialisations’ NEOMA Business School (France) for ‘NEOMA Business School Virtual Campus’ School of Economics and Management, South China Normal University (SCNU) (China) for ‘Optimal Integrated Innovation Strategy’ School of Economics and Management, Southwest Jiaotong University (China) for ‘The “Quaternity” Tactic’ UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘UCD Business Alumni Challenge – Around the Globe in 30 Days’ Wrexham Glyndŵr University (UK) for ‘Active Learning Framework: Reflections’ BEST LIFELONG LEARNING INITIATIVE, IN ASSOCIATION WITH KORTEXT Antai College of Economics and Management, Shanghai Jiao Tong University (China) for ‘The Industry Community Classes Program (ICCP)’ College of Economics and Management, Zhejiang University of Technology (China) for ‘ GET – Gather Alumni, Enlighten Alumni, Turbo Alumni’ EGADE Business School, Tecnológico de Monterrey (Mexico) for ‘Alternative Learning’ IE Business School (Spain) for ‘ Turn It Around – Alumni Engagement’ Imperial College Business School, Imperial College London (UK) for ‘MBA Student Enhancement Package’ School of Management, Huazhong University of Science and Technology (HUST) (China) for ‘Lifelong Learning Ecosystem Development Initiative’ BEST CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABILITY INITIATIVE Esade Business School, Ramon Llull University (Spain) for ‘Sustainable Impact: Our Chance to Change the World Together’ ESMT Berlin (Germany) for ‘Net Impact Club’s Carbon Accounting Initiative’ Graduate School of Business, MIP Politecnico di Milano (Italy) for ‘Leave your Mark: An Important Opportunity for Students and Alumni to Grow’ Indian Institute of Management Indore (India) for ‘Environmental, Social and Corporate Governance (ESG)’ International Business School Suzhou, Xi’an Jiaotong-Liverpool University (XJTLU) (China) for ‘15 Ways in 15 Weeks’ Newcastle University Business School, Newcastle University (UK) for ‘ Developing Responsible Leaders for the Future through the Design and Delivery of a New Executive MBA Programme’
MBA STUDENT OF THE YEAR IN ASSOCIATION WITH INSENDI, A STUDY GROUP COMPANY
AMBA’s MBA Student of the Year award, in association with insendi, a Study Group company, plays a pivotal role in supporting AMBA’s pledge to promote the MBA degree as the leading international business qualification. The 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. The gold award was presented to Monique Farquharson, Aston Business School, Aston University (UK). Monique Farquharson was the first ever winner of the Aston Enterprise Scholarship. She triumphed over hundreds of students to secure this prestigious fully-funded scholarship and join the full time Aston MBA programme. She has seized this opportunity by engaging in consultancy work with four different companies, securing an internship, helping to deliver TEDx Aston University, and becoming a global ambassador. Monique completed the Global Business Challenge, and was named ‘Global Business Champion’ – one of just four champions from a group of more than 100 overseas students from seven different universities around the world. Again, this was a hotly contested category, but the judges decided to award silver to Patsy McNeil, UCL School of Management, University College London (UK). The panel awarded bronze to Yunfei Yang, School of Management, Huazhong University of Science and Technology (HUST) (China). All our award bronze and silver winners will receive a certificate, and the winners will receive a cut-glass trophy. AMBA & BGA would like to once again congratulate all the winners and the finalists. We would like to thank our award and event sponsors Bargo, Wharton Research Data Services, McGraw Hill Education, Kortext, and insendi a Study Group Company – who made the event possible – as well as our esteemed panel of judges who gave up so much time to select the winners. Final thanks must go to all the Business Schools that entered the awards, for the work you do and for your unfailing passion and dedication to responsible management, world-class business education, and for going the extra mile. You inspire all of us every day. We very much look forward to welcoming many of you – in person – to our Global Conference, which will take place from 15-18 May 2022.
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Ambition | BE IN BRILLIANT COMPANY
Sotirios Ptochos, Athens University of Economics and Business (Greece) for PEOPLE Technology Solutions (PEOPLE)
Porto Business School, Universidade do Porto (Portugal) for ‘Porto Business School Urban Garden’ BEST BUSINESS SCHOOL PARTNERSHIP, IN ASSOCIATION WITH WHARTON RESEARCH DATA SERVICES Católica Lisbon School of Business and Economics, Universidade Católica Portuguesa (Portugal) with Veolia Dongwu Business School, Soochow University (China) with Soochow Securities Gordon Institute of Business Science (GIBS), University of Pretoria (South Africa) with JP Morgan International Management Institute (MIM-Kyiv) (Ukraine) with BookChef Publishing House Thammasat Business School, Thammasat University (Thailand) with Government Savings Bank UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) with Their Lives Matter – Tumaini La Maisha (TLM) IN ASSOCIATION WITH MCGRAW HILL EDUCATION Centrum PUCP Business School, Pontificia Universidad Católica del Perú (Peru) for ‘Word of Women Academy (Academia Palabra de Mujer)’ Escuela de Negocios, Universidad del CEMA (UCEMA) (Argentina) for ‘Advancing gender equity by promoting women in leadership’ Mannheim Business School, University of Mannheim (Germany) ‘MBS Diversity Day’ School of Business and Management, Shanghai International Studies University (SISU) (China) for ‘Embedding Management Talent Cultivation in Multiculturalism’ UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘Intercultural Development Programme (ICD)’ BGA IMPACT AWARD Antwerp Management School, University of Antwerp (Belgium), for ‘The Positive Impact Project (PIP)’ BEST CULTURE, DIVERSITY, AND INCLUSION INITIATIVE Athena School of Management (India) for ‘Creating Impact for Stakeholders’ Centrum PUCP Business School, Pontificia Universidad Católica del Perú (Peru) for ‘Undertaking Tourism Now (Turismo Emprende Ya)’ EGADE Business School, Tecnológico de Monterrey, (Mexico) for ‘Sustainable Wealth Creation Based On Innovation and Technology (SWIT)’ International Management Institute (MIM-Kyiv) (Ukraine) for ‘Building Business Education in Tajikistan’ School of Economics and Management, Dongguan University of Technology (China) for ‘100 Groups in 1,000 Counties’ MBA STARTUP OF THE YEAR Nicholas Cory, Southampton Business School, University of Southampton (UK) for Absolar Solutions Marcos Impala, Escuela de Negocios, Universidad del CEMA Sofía Jiménez de Aréchaga, Escuela de Postgrados en Negocios – Universidad ORT Uruguay, for Mezcla
MBA ENTREPRENEUR OF THE YEAR Ximena Aleman, Escuela de Postgrados en Negocios, Universidad ORT Uruguay for Prometeo OpenBanking Giacomo Bedetti, Graduate School of Business, MIP Politecnico di Milano (Italy) for Orapesce Diego Martin Bertezzolo, Escuela de Negocios, Universidad de San Andrés (Argentina) for Avancargo Moustafa El-Shenety, AUC School of Business, The American University in Cairo (Egypt) for Zilla Capital Onaseye Onabolu, Aston Business School, Aston University (UK) for Sona Circle Refugee Recruitment Farwah Tapal, Esade Business School, Ramon Llull University (Spain) for Oraan MBA LEADERSHIP AWARD Zakhira Begaliyeva, Graduate School of Business, Almaty Management University (AlmaU) (Kazakhstan), currently working at Public Foundation ‘ITeachMe’ Center for Competence Development Theresa Grant, Manchester Metropolitan University Business School, Manchester Metropolitan University (UK), currently working at Municipal Partners Yvonne Greeves, Adam Smith Business School, University of Glasgow (UK), currently working at NatWest Group Ming Li, Business School, Central South University (China), currently working at Hunan Overseas Home Information Technology and Hunan Hi-soon Supply Chain Pedro Luis Guerrero Riera, Instituto de Estudios Superiores de Administración (IESA)(Venezuela), currently working at Grupo Fastmed Mansi Madan Tripathy, SP Jain Institute of Management and Research (SPJIMR) (India), currently working at Royal Dutch Shell Andrea Perrot, Escuela de Negocios, Universidad del CEMA (UCEMA) (Argentina), currently working at CEMIC University Hospital MBA STUDENT OF THE YEAR, IN ASSOCIATION WITH INSENDI, A STUDY GROUP COMPANY Joy Chikaodiri Elekwuwa, Esade Business School, Ramon Llull University (Spain) Monique Farquharson, Aston Business School, Aston University (UK) Patsy McNeil, UCL School of Management, University College London (UK) Ariel Olivari, Escuela de Negocios, Universidad del CEMA (UCEMA)(Argentina)
Jember Teklu TesfayAudencia Business School (France) Yunfei Yang, School of Management, Huazhong University of Science and Technology (HUST) (China)
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Ambition | BE IN BRILLIANT COMPANY
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