GF Vol 02 Issue 01

mmm$[\cZ$eh]

KdajbZ %'T?iik[ &' (&&.

;<C:

Global Gateway

EFMD

Â&#x153;Ă&#x20AC;`Â&#x2C6;Ă&#x160; >Â&#x2DC;>Â?Ă&#x192;]Ă&#x160; i>Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160;*Ă&#x20AC;Â&#x153;viĂ&#x192;Ă&#x192;Â&#x153;Ă&#x20AC;

KdajbZ %'T?iik[ &' (&&.

â&#x20AC;&#x2122;â&#x20AC;&#x2122;

F^ed[0 (' ' +'. %- &% <Wn0 (' ' +'. %- &&

;cW_b0 ^c[d5Z[bY#dg\

perspective on the global landscape through the best available student-assessment process and unique data about market trends.

=beXWb <eYki

ÂŽ

;<C: V^hWa

GjZ <VX]VgY -- Ă&#x201E; 7dm ( &%*% 7gjhhZah 7Za\^jb

The Graduate Management Admission â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;Council offers business schools a top-quality

B_\[ Wj j^[ jef A[bbe]]Ă&#x160;i :[Wd :_fWa @W_d ed Xki_d[ii iY^eeb ]el[hdWdY[" j^[ \kjkh[ e\ j^[ C87" Z[ce]hWf^_Yi WdZ ijWo_d] ed jef e\ j^[ hWda_d]i

- Ă&#x160; Ă&#x2022;Ă&#x192;Â&#x2C6;Â&#x2DC;iĂ&#x192;Ă&#x192;Ă&#x160;-VÂ&#x2026;Â&#x153;Â&#x153;Â?]Ă&#x160; >Ă&#x20AC;ViÂ?Â&#x153;Â&#x2DC;>]Ă&#x160;-ÂŤ>Â&#x2C6;Â&#x2DC;

GMAC ÂŽ PROVIDES: Research that yields data on application volume, employer hiring plans, and other graduate business education topics.

A pipeline of potential business students from over 180 countries to connect you with your next class.

The GMATÂŽ, the most reliable predictor of academic student success, used by more than 4,000 programs worldwide.

OUR PERSPECTIVE ENCOMPASSES THE WORLD. 5P MFBSO NPSF BCPVU (."$ Â&#x2C6; HP UP XXX HNBD DPN HMPCBM

?DI?:; J>?I ?IIK; CWa_d] j^[ ceij e\ ?J BVgi^c 8jgaZn add`h Vi ]dl id VhhZhh i]Z Wjh^cZhh kVajZ d[ >I

^Ă&#x160;Ă&#x201C;äänĂ&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â? Ă&#x160;­ Ž°Ă&#x160; Â?Â?Ă&#x160;Ă&#x20AC;Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x192;Ă&#x160;Ă&#x20AC;iĂ&#x192;iĂ&#x20AC;Ă&#x203A;i`°Ă&#x160; Ă&#x20AC;i>Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160; VViĂ&#x192;Ă&#x192;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; Ă&#x2022;Ă&#x192;Â&#x2C6;Â&#x2DC;iĂ&#x192;Ă&#x192;Ă&#x160; `Ă&#x2022;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă ]Ă&#x160; Ă ]Ă&#x160; /Ă ]Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â?Ă Ă&#x160;>Â&#x2DC;`Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;/iĂ&#x192;Ă&#x152;Ă Ă&#x160; >Ă&#x20AC;iĂ&#x160;Ă&#x20AC;i}Â&#x2C6;Ă&#x192;Ă&#x152;iĂ&#x20AC;i`Ă&#x160;Ă&#x152;Ă&#x20AC;>`iÂ&#x201C;>Ă&#x20AC;Â&#x17D;Ă&#x192;Ă&#x160;Â&#x153;vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â?Ă Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;1Â&#x2DC;Â&#x2C6;Ă&#x152;i`Ă&#x160;-Ă&#x152;>Ă&#x152;iĂ&#x192;Ă&#x160;>Â&#x2DC;`Ă&#x160;Â&#x153;Ă&#x152;Â&#x2026;iĂ&#x20AC;Ă&#x160;VÂ&#x153;Ă&#x2022;Â&#x2DC;Ă&#x152;Ă&#x20AC;Â&#x2C6;iĂ&#x192;° ÂŁĂ&#x2C6;ääĂ&#x160;/Ă&#x17E;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x192;Ă&#x160; Â&#x153;Ă&#x2022;Â?iĂ&#x203A;>Ă&#x20AC;`]Ă&#x160;-Ă&#x2022;Â&#x2C6;Ă&#x152;iĂ&#x160;ÂŁ{ää]Ă&#x160; V i>Â&#x2DC;]Ă&#x160;6Â&#x2C6;Ă&#x20AC;}Â&#x2C6;Â&#x2DC;Â&#x2C6;>Ă&#x160;Ă&#x201C;Ă&#x201C;£äĂ&#x201C;Ă&#x160;1- °Ă&#x160;ÂŁÂ&#x2021;Ă&#x2021;äĂ&#x17D;Â&#x2021;Ă&#x2021;{Â&#x2122;Â&#x2021;ä£Ă&#x17D;ÂŁ]Ă&#x160;Ă&#x153;Ă&#x153;Ă&#x153;°}Â&#x201C;>V°VÂ&#x153;Â&#x201C;]Ă&#x160;Ă&#x153;Ă&#x153;Ă&#x153;°Â&#x201C;L>°VÂ&#x153;Â&#x201C;° Ă

EFMD_Ad_v06.indd 1

Ă

12/7/07 11:08:27 AM

G7 _d j^[ YbWiiheec 8]g^h <gZZchiZY hVnh Wjh^cZhh hX]ddah cZZY fjVa^in VhhjgVcXZ

>em je X[ W b[WZ[h ?d]c G GnVc! cZl ]ZVY d[ 88A! ZmeaV^ch l]Vi ^i iV`Zh id aZVY

;dj[hfh_i[ ;khef[ IZV EZig^c djia^cZh l]n :jgdeZ cZZYh ZcigZegZcZjgh]^e

Ef[d mehbZ G^X]VgY HigVjW Vg\jZh i]Z ldgaY cZZYh Ă&#x2C6;deZccZhhĂ&#x2030;

9kbjkhWb Y^Wd][ H]Vgdc IjgcWjaa dc ]dl id bVcV\Z XdgedgViZ XjaijgZ

:;B9 EFMD

JeXdb^c\ ZkZcih ^c '%%<eh ceh[ Z[jW_b[Z _d\ehcWj_ed" fb[Wi[ l_i_j ekh m[Xi_j[ mmm$[\cZ$eh] kdZ[h Yed\[h[dY[i b[Whd_d] ]hekfi eh [cW_b _d\e6[\cZ$eh]

<[XhkWho (&&.

CWhY^ (&&.

7fh_b (&&.

;L;DJ

;L;DJ

;L;DJ

'%%- BZZi^c\ [dg 9ZVch VcY 9^gZXidgh <ZcZgVa

6Yk^hdgn HZgk^XZh HZb^cVg

'%%- :;B9 B76 8dc[ZgZcXZ

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

&% Ă&#x201E; && BVgX] $ :;B9 EgZb^hZh! 7gjhhZah

( Ă&#x201E; ) 6eg^a $ B^aVc! >iVan

(& ?VcjVgn Ă&#x201E; & ;ZWgjVgn $ 8deZc]V\Zc! 9ZcbVg`

J>;C;

J>;C;

IgZcYh VcY 7Zhi EgVXi^XZ ^c :mZXji^kZ :YjXVi^dc

B^c^c\ i]Z KVajZ Egdedh^i^dc Ă&#x201E; :beadnVW^a^in d[ B76h

J>;C;

$7367DUE ;97EF

:c\V\ZbZci >ccdkVi^dc

>EIJ

>EIJ

H96 7dXXdc^ 7jh^cZhh HX]dda

8deZc]V\Zc 7jh^cZhh HX]dda

;L;DJ

;L;DJ

;L;DJ

>cY^k^YjVa BZbWZgh BZZi^c\

'%%- :miZgcVa GZaVi^dch BZZi^c\

6Yk^hdgn HZgk^XZh HZb^cVg

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

) 6eg^a

+ Ă&#x201E; - 6eg^a $ IVaa^cc! :hidc^V

&) Ă&#x201E; &* 6eg^a $ :;B9 EgZb^hZh! 7gjhhZah

>EIJ

J>;C;

J>;C;

:;B9

LZ VgZ Vaa ^ciZgcVi^dcVa cdl Ă&#x201E; Hd l]Vi4

>ciZ\gVi^c\ 8dgedgViZ GZhedch^W^a^in ^cid

>EIJ

:hidc^Vc 7jh^cZhh HX]dda

The Economist provides Europeâ&#x20AC;&#x2122;s business leaders, current and future, with timely insight that helps them to succeed in todayâ&#x20AC;&#x2122;s complex global marketplace.

7R DGYHUWLVH \RXU FRXUVHV WR DQ DXGLHQFH RI PLOOLRQ LQWHOOLJHQW DQG DIĂ XHQW UHDGHUV please contact Philip Wrigley on +44 (0) 20 7830 7000 or philipwrigley@economist.com.

ndjg :FJ>H 6XXgZY^iVi^dc EgdXZhh

CWo (&&.

@kd[ (&&.

;L;DJ

;L;DJ

;L;DJ

6Yk^hdgn HZgk^XZh HZb^cVg

6Yk^hdgn HZgk^XZh HZb^cVg

'%%- 6ccjVa 8dc[ZgZcXZ

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

'* 6eg^a $ :;B9 EgZb^hZh! 7gjhhZah

&+ BVn $ :;B9 EgZb^hZh! 7gjhhZah

- Ă&#x201E; &% ?jcZ $ Dhad! CdglVn

J>;C;

J>;C;

>EIJ

=dl id 9ZkZade :cigZegZcZjgh4 ;dhiZg^c\ >ccdkVi^dc VcY :cigZegZcZjg^Va 6ii^ijYZh

>ciZgXjaijgVa >hhjZh Ă&#x201E; =dl id DeZgViZ ^c 6h^V ^c XdaaVWdgVi^dc l^i] i]Z :jgdeZVc 8ZcigZ [dg HigViZ\^X BVcV\ZbZci d[ Jc^kZgh^i^Zh :HBJ

7> CdglZ\^Vc HX]dda d[ BVcV\ZbZci

I[fj[cX[h

EYjeX[h (&&.

;L;DJ

;L;DJ

'%%- :;B9 JcYZg\gVYjViZ BVcV\ZbZci :YjXVi^dc 8dc[ZgZcXZ

'%%- :mZXji^kZ :YjXVi^dc BZZi^c\

:7J;I % L;DK;

&' Ă&#x201E; &) DXidWZg $ A^hWdc! Edgij\V

&, Ă&#x201E; &. HZeiZbWZg $ 7VWhdc EVg`! B6! JH6

>EIJ

J>;C;

Jc^kZgh^YVYZ 8ViÂ&#x2039;a^XV Edgij\jZhV! ;VXjaYVYZ YZ 8^Â&#x201E;cX^Vh :XdcÂ&#x2039;b^XVh Z :begZhVg^V^h

;gdb Deedgijc^in id 6Xi^dc/ 9ZkZade^c\ :cigZegZcZjgh i]gdj\] JcYZg\gVYjViZ BVcV\ZbZci :YjXVi^dc >EIJ

7VWhdc 8daaZ\Z

:7J;I % L;DK;

“My schedule makes me travel all around the country and even globally for more than 200 days of the year,” he says. “During this time, I get to meet some of the most successful and influential minds in the country. Some of the corporate organisations I am in touch with are UBS, Tata Group, Maersk-Line, HDFC, Coca-Cola, HSBC, Standard Chartered, Accenture and others. I am currently working with an annual budget of more than $200,000 and have a team of three talented individuals working with me.”

Mr Gupt thinks the experience he is getting in AIESEC will help him to reach his future goal – to work with one of the major global consultancy firms.

“I feel the consultancy field has a great future and this surely is the right time to enter it,” he says. “With my experience in AIESEC I feel I am on the right track.”

The large network that AIESEC has developed makes it quite easy to get in touch with one of its local chapters, which are currently present in more than 1,100 leading universities across the world.

Students can access a large pool of opportunities, starting from the global internship programmes in technology, management, education or development in any of AIESEC’s 100-country networks to being a part of global teams working on issues such as entrepreneurship, HIV/AIDS, CSR or other current issues in society.

AIESEC members also lead teams that organise some of the world’s biggest youth forums, facilitate the global internship programme and are in touch with some of the leading organisations in the corporate and non-corporate sectors. Some of the leading organisations that AIESEC currently works with on a global level are PwC, UBS, Alcatel-Lucent, DHL, TCS, Inbev and ABN AMRO among others. All of these organisations take on AIESEC interns through the global internship programme to help with the management of their core processes throughout the year.

“We rely on AIESEC to bring great talent to our organisation, a company that does business just about everywhere in the world. Our leaders benefit from the insight AIESEC interns bring to taking programmes we run in certain countries to other parts of the world,” says Microsoft’s Mr Bean.

HijYZcih XVc VXXZhh V aVg\Z edda d[ deedgijc^i^Zh! hiVgi^c\ [gdb i]Z \adWVa ^ciZgch]^e egd\gVbbZh ^c iZX]cdad\n! bVcV\ZbZci! ZYjXVi^dc dg YZkZadebZci ^c Vcn d[ 6>:H:8Éh &%%" Xdjcign cZildg`h id WZ^c\ V eVgi d[ \adWVa iZVbh ldg`^c\ dc ^hhjZh hjX] Vh ZcigZegZcZjgh]^e! =>K$ 6>9H! 8HG dg di]Zg XjggZci ^hhjZh ^c hdX^Zin

The international network that AIESEC has developed over the past 60 years has taken the association from war-torn Europe to all regions of the world, including most recently the Middle East and North Africa. The original intention of fostering “cultural understanding” between European countries after the war is still largely in place, though on a much bigger scale. Over the past couple of years AIESEC chapters have been opened in Jordan, Bahrain, Qatar, Afghanistan and Iran to name only a few.

Jonas Lilienthal, part of the team leading the expansion of AIESEC to Iran, says that “it is important for AIESEC as a non-political organisation to enhance contact between Iran and the rest of the world”.

Challenging the way individuals see the world is one of AIESEC’s principles and allows youth to open their eyes to the world beyond what is merely presented to them in the media and to be more globally aware citizens. In doing so, AIESEC members and alumni are making a positive impact on society – role modelling change agents for the future.

78EKJ J>; 7KJ>EH

B^X]ZaaZ <VaaVci ^h K^XZ EgZh^YZci 8dbbjc^XVi^dch [dg 6>:H:8 >ciZgcVi^dcVa#

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

?d \eYki$$$

KdajbZ %'T?iik[ &' (&&.

>c [dXjh### EFMD

One of the themes running through this issue of Global Focus is leadership – how to inculcate it into students on programmes such as the MBA degree, how to teach it to practising managers and how to ensure that leadership is exercised in a responsible way.

A remarkable unity of opinion about leadership is emerging – that it must be global and that it must be responsible.

In an interview on page 8, Dipak Jain, Dean of Kellogg Business School in America, argues that the key function of the MBA now is not just to teach business skills but to create responsible global leaders, echoing the report on page 26 by Anders Aspling and Mark Drewell on two years of the Globally Responsible Leadership Initiative.

And John R Ryan, the new President and CEO of the Center for Creative Leadership, one of the world’s top leadership training institutions, says on page 22 that CCL’s new Advancing Global Leadership programme is a response to the growing challenges of leadership in a global society.

“People who are involved in global leadership positions are today facing greater complexity in their roles, whether it’s at the mid-level or higher in their organisations,” says Mr Ryan. “And they need to be able accurately to perceive new situations they face, culturally as well as organisationally, with the people they interact with, and they have to adapt their leadership style accordingly.”

Finally, it is clear that tomorrow’s leaders are also taking the initiative themselves. On page 62, Michelle Gallant, Vice-President Communication for AIESEC International, the world’s largest student organisation, describes how a leadership development platform for youth that AIESEC runs, called the AIESEC Experience, offers practical opportunities to lead a team, project manage and work in an international environment.

With over 23,000 members from around the world AIESEC offers over 5,000 leadership experiences each year at the local, national, regional and international level that help develop leadership skills but also cultural sensitivity, team management and entrepreneurial skills.

Global, responsible leaders are essential to the future of our society. Perhaps we can take some comfort from the many initiatives featured in this issue.

CWhj_d[ Fbecf[d :Y^idg ;cW_b0 bVgi^cZ#eadbeZc5Z[bY#dg\

eV\Z &'

8dciZcih KdajbZ %'T?iik[ &' (&&. ;n[Ykj_l[ ;Z_jeh BVii]Zl LddY bVii]Zl#lddY5Z[bY#dg\ 7Zl_ieho 8eWhZ :g^X 8dgcjZa! ?^b =ZgWda^X]! =dlVgY I]dbVh ;Z_jeh BVgi^cZ EadbeZc bVgi^cZ#eadbeZc5Z[bY#dg\ 9edikbjWdj ;Z_jeh <Zdg\Z 7^X`ZghiV[[Z W^X`ZghiV[[Z5Wi^ciZgcZi#Xdb 9edjh_Xkj_d] ;Z_jehi 6cYZgh 6hea^c\! E^ZggZ 7Zgi]dc! 6cYgZl 8g^he!

BVgi^c 8jgaZn! BVg` 9gZlZaa! B^X]ZaaZ <VaaVci! 7dW <Vaa^Zgh! ?d]c <^a`Zh! 8]g^h <gZZchiZY! JanhhZh @ng^VXdedadh! IZV EZig^c!

G^X]VgY HigVjW! H]Vgdc IjgcWjaa! 9Vk^Y LVi`^ch :[i_]d 7hj :_h[Yj_ed ?ZWZch 9Zh^\c lll#_ZWZchYZh^\c#Xd#j` F^eje]hWf^i ?bbkijhWj_edi

?ZWZch 9Zh^\c AiY$:;B9 jcaZhh di]Zgl^hZ hiViZY 9el[h F^eje ;^dcV =daYhldgi] ;Z_jeh_Wb 7Zl[hj_i_d] BVii]Zl LddY E]dcZ/ (' ' +'. %-&% bVii]Zl#lddY5Z[bY#dg\ ;<C: V^hWa GjZ <VX]VgY -- Ä 7dm ( &%*% 7gjhhZah! 7Za\^jb mmm$[\cZ$eh]%]beXWb\eYki :;B9

&' In focus... &* Talking shop Excellence in Practice Award 2008 New Chair for EQUAL EURAM 2008 Conference EFMD Advisory Services 2008 &. Life at the top Dipak Jain, Dean of Kellogg, talks to George Bickerstaffe about business school governance, the future of the MBA, demographics and staying on top of the rankings '* Making the most of IT Martin Curley describes an attempt to develop an industry-wide model to assess the business value of IT '. Do business schools need formal quality assurance systems?

Yes they do, says Chris Greensted. But they need to be done properly (( Taking the lead John R Ryan, President and CEO of the Center for Creative Leadership, one of the world’s top leadership training institutions, talks to George Bickerstaffe (, A leading force Anders Aspling and Mark Drewell report on two years of the Globally Responsible Leadership Initiative )& Entrepreneurship and European growth Tea Petrin outlines why fostering entrepreneurship is the key to maintaining and developing competitiveness within Europe )* Is the world open?

Richard Straub argues that ‘openness’ is the defining quality of 21st century globalisation

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

9edj[dji

*& Leading the players in cultural change To manage culture you have to understand who plays what role in sustaining, challenging and shifting it says Sharon Turnbull

eV\Zh &(U&)

''

** Th e role of MBA programmes in developing corporate executives Ulysses Kyriacopoulos outlines how business schools and MBA programmes can develop tomorrow’s leaders of industry *. T eddy bears, snow and the sex life of crustaceans Andrew Crisp looks at the findings of a new study into what makes a great business school website

)%

+( The executive education challenge John Gilkes outlines the key results of the 2007 EFMD Executive Education Survey and ponders their implications for the future +, Doing well by doing good A European project has shown that helping the environment and encouraging profitable small businesses can go hand in hand. David Watkins explains how

)-

,& Rigour, relevance and rapprochement Pierre Berthon and Bob Galliers argue for a rethink of academic research into business problems ,( AIESEC’s 60 years of activating leadership Allowing young people to take active leadership roles is proving an important adjunct to academic prowess says Michelle Gallant

L]n lZ h]djaY WZ VYY^c\ kVajZ VcY ^ccdkVi^dc i]gdj\] >I ½ fW][ '*

IVa`^c\ h]de D[mi WdZ [l[dji _d Xh_[\ \hec j^[ Xki_d[ii mehbZ

Excellence in Practice Award 2008 Partnership in Organisational Development DcZ d[ i]Z ldg`h]de igVX`h Vi i]Z :;B9 6ccjVa 8dc[ZgZcXZ -"&% ?jcZ! '%%- ^c Dhad! CdglVn! l^aa WZ YZkdiZY id WZhi egVXi^XZh ^c Xd"deZgVi^dc WZilZZc V XdbeVcn VcY dcZ dg bdgZ Wjh^cZhh hX]ddah $ ZmZXji^kZ YZkZadebZci XZcigZh $XdchjaiVcX^Zh#

EFMD Advisory Services – successful 2007 looking forward to 2008 9jg^c\ '%%, dkZg &+* eVgi^X^eVcih idd` eVgi ^c hZkZc 6Yk^hdgn HZgk^XZh hZb^cVgh ]ZaY Vi i]Z :;B9 ]ZVY d[ÒXZ ^c 7gjhhZah! 7Za\^jb# I]Z hZb^cVgh VYYgZhhZY hdbZ d[ i]Z `Zn ^hhjZh [VX^c\ bVcV\ZbZci ZYjXVi^dc VcY ]VkZ WZZc V \gZVi hjXXZhh# I]Z V\ZcYV [dg '%%- ^h/ Ä && BVgX] '%%- :mZXji^kZ :YjXVi^dc/ IgZcYh VcY 7Zhi EgVXi^XZ ^c :mZXji^kZ AZVgc^c\ Ä BVgX] $ 6eg^a '%%- 7j^aY^c\ VcY BVcV\^c\ i]Z 6ajbc^ CZildg` ^c XdaaVWdgVi^dc l^i] :jgdeZVc 8ZcigZ [dg HigViZ\^X BVcV\ZbZci d[ Jc^kZgh^i^Zh :HBJ Ä &* 6eg^a '%%- 8dgedgViZ HdX^Va GZhedch^W^a^in 8HG Ä '* 6eg^a '%%- =dl id 9ZkZade :cigZegZcZjgh4 ;dhiZg^c\ >ccdkVi^dc VcY :cigZegZcZjg^Va 6ii^ijYZh Ä &+ BVn '%%- >ciZgXjaijgVa >hhjZh Ä =dl id DeZgViZ ^c 6h^V ^c XdaaVWdgVi^dc l^i] i]Z :jgdeZVc 8ZcigZ [dg HigViZ\^X BVcV\ZbZci d[ Jc^kZgh^i^Zh :HBJ Ä &+ HZeiZbWZg '%%- GZXgj^i^c\ VcY GZiV^c^c\ :mXZaaZci ;VXjain ^c Ndjg 7jh^cZhh HX]dda Ä HZeiZbWZg $ DXidWZg '%%- BVcV\^c\ V HX]dda l^i]^c V Jc^kZgh^in ^c XdaaVWdgVi^dc l^i] :jgdeZVc 8ZcigZ [dg HigViZ\^X BVcV\ZbZci d[ Jc^kZgh^i^Zh :HBJ Ä '& DXidWZg '%%- 6iigVXi^c\ FjVa^in >ciZgcVi^dcVa HijYZcih ^c Egd\gVbbZh Ä &- CdkZbWZg '%%- 8jgg^Xjajb 9ZkZadebZci [dg 7jh^cZhh HX]ddah Ä >cXdgedgVi^dc d[ V CZl 9ZbVcY/ EjWa^X 6[[V^gh Ä CdkZbWZg $ 9ZXZbWZg '%%- =dl id 9ZkZade ?d^ci VcY 9djWaZ 9Z\gZZh4 Ä . 9ZXZbWZg '%%- :bZg\^c\ IZX]cdad\^Zh [dg BVcV\ZbZci 9ZkZadebZci ;dg bdgZ ^c[dgbVi^dc k^h^i lll#Z[bY#dg\$VYk^hdgnhZgk^XZh

I]Z V^b d[ i]Z igVX` ^h id gZXd\c^hZ i]Z WZhi XVhZ hijYn YZbdchigVi^c\ i]Z VYYZY kVajZ VcY dg^\^cVa^in YZkZadeZY ^c i]Z eVgicZgh]^e# I]ZgZ l^aa i]ZgZ[dgZ WZ V XdbeZi^i^kZ ZaZbZci! l^i] h]dgi" a^hiZY egZhZciVi^dch WZ^c\ VhhZhhZY Yjg^c\ i]Z hZhh^dc VcY V l^ccZg hZaZXiZY Wn ViiZcYZZh# >i ^h ZmeZXiZY i]Vi i]Z egZhZciVi^dch l^aa WZ bVYZ Wn Wdi] eVgicZgh Ä XdbeVcn VcY egdk^YZg Ä id ZchjgZ V WVaVcXZY k^Zl VcY Y^[[Zg^c\ eZgheZXi^kZh# 9ZVYa^cZ [dg hjWb^hh^dc/ '. ;ZWgjVgn! '%%-# ;dg bdgZ ^c[dgbVi^dc XdciVXi ÓdgZcXZ#\gZ\d^gZ5Z[bY#dg\

Jonathan Slack new Chair of the European Quality Link (EQUAL) ?dcVi]Vc HaVX`! 8]^Z[ :mZXji^kZ d[ i]Z 6hhdX^Vi^dc d[ 7jh^cZhh HX]ddah 67H ^c i]Z J@! ]Vh WZZc ZaZXiZY Vh i]Z cZl 8]V^g d[ :FJ6A [dg V eZg^dY d[ i]gZZ nZVgh# Dc WZ^c\ ZaZXiZY! ?dcVi]Vc HaVX` hV^Y/ Æ> Vb YZa^\]iZY id WZ \^kZc i]Z deedgijc^in id X]V^g hjX] V egZhi^\^djh \gdje d[ cVi^dcVa VcY ^ciZgcVi^dcVa VhhdX^Vi^dch! eVgi^XjaVgan Vi V i^bZ l]Zc i]Z 7dad\cV egdXZhh ^h \V^c^c\ bdbZcijb VcY ^beVXi^c\ Wjh^cZhh VcY bVcV\ZbZci ZYjXVi^dc egdk^YZgh g^\]i VXgdhh :jgdeZÇ# :FJ6A ^h i]Z :jgdeZVc FjVa^in A^c` [dg 7jh^cZhh VcY BVcV\ZbZci :YjXVi^dc# >i ^h V ÆcZildg`Ç d[ cZildg`h l]dhZ ejgedhZ ^h id ^begdkZ i]Z fjVa^in VcY Z[[ZXi^kZcZhh d[ Wjh^cZhh VcY bVcV\ZbZci ZYjXVi^dc! YZkZadebZci VcY gZhZVgX] [dg i]Z WZcZÒi d[ bZbWZgh! bVcV\ZbZci egVXi^i^dcZgh VcY hdX^Zin \ZcZgVaan# 8daaZXi^kZan! :FJ6A gZegZhZcih dkZg &!%%% Wjh^cZhh hX]ddah VcY VgdjcY '%%!%%% Wjh^cZhh hX]dda Vajbc^#

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

eV\Zh &*U&+

JWba_d] i^ef

IEKD:8?J;I

The Bologna process is gaining momentum and impacting business and management education providers right across Europe ?dcVi]Vc HaVX`! 8]^Z[ :mZXji^kZ d[ i]Z 6hhdX^Vi^dc d[ 7jh^cZhh HX]ddah

2007 European Faculty Pioneer Awards 9g 8]g^h =deZ VcY Egd[ 6cYg HdWXoV` X]dhZc id gZXZ^kZ egZhi^\^djh ]dcdjgh

EURAM 2008 Conference BVcV\^c\ 9^kZgh^in/ :jgdeZVc 9Zhi^cn VcY =deZ A_jWa_VcV VcY 7aZY HadkZc^V &)"&, BVn '%%I]Z :JG6B '%%- 8dc[ZgZcXZ egd\gVbbZ ^h higjXijgZY VgdjcY )+ igVX`h! l]^X] lZgZ hZaZXiZY [gdb ,* igVX` egdedhVah! ^cXajY^c\ Z^\]i \ZcZg^X :JG6B igVX`h# I]Zn XdkZg V l]daZ heZXigjb d[ ^ciZgZhi^c\ VcY ZmX^i^c\ bVcV\ZbZci gZhZVgX] VgZVh ^cXajY^c\ i]dhZ i]Vi VYYgZhh `Zn ^hhjZh gZaViZY id i]Z igVch^i^dc egdXZhhZh VcY X]Vc\Z e]ZcdbZcV ^c \ZcZgVa# 7n Wg^c\^c\ id\Zi]Zg gZhZVgX] Xdbbjc^i^Zh [gdb i]Z LZhi VcY :Vhi [dg i]Z Òghi i^bZ id bZZi ZVX] di]Zg VcY Y^hXjhh i]Z^g gZhZVgX] VeegdVX]Zh! bZi]dYdad\^Zh! iddah VcY gZhjaih! Wdi] :JG6B VcY 8::B6C WZa^ZkZ i]Vi i]^h ZkZci l^aa WZ V bV_dg ijgc^c\ ed^ci ^c :jgdeZVc bVcV\ZbZci gZhZVgX]# BdgZ ^c[dgbVi^dc dc :JG6B '%%-! ^cXajY^c\ 8dc[ZgZcXZ 6ccdjcXZbZci! EgZa^b^cVgn Egd\gVbbZ! IgVX` 9ZhXg^ei^dch! 8Vaa [dg EVeZgh VcY 9dXidgVa 8daadfj^jb ^h VkV^aVWaZ k^V lll#ZjgVb'%%-#dg\

:67>H VcY i]Z 6heZc >chi^ijiZ 8ZciZg [dg 7jh^cZhh :YjXVi^dc VgZ eaZVhZY id VccdjcXZ 9g 8]g^h =deZ! [gdb ?jY\Z 7jh^cZhh HX]dda! Jc^kZgh^in d[ 8VbWg^Y\Z! VcY 6hhdX^ViZ Egd[Zhhdg 6cYg HdWXoV`! [gdb 6jYZcX^V CVciZh HX]dda d[ BVcV\ZbZci! Vh i]Z gZX^e^Zcih d[ i]Z egZhi^\^djh '%%, :jgdeZVc ;VXjain E^dcZZg 6lVgYh# 9g =deZ lVh ]dcdjgZY ^c i]Z A^[Zi^bZ 6X]^ZkZbZci XViZ\dgn l]^aZ 9g HdWXoV` WZXVbZ i]Z Òghi eZghdc id ZVgc i]Z cZl :67>H"6heZc Æ:jgdeZVc G^h^c\ HiVgÇ VlVgY# I]Z cVbZh d[ i]Z l^ccZgh lZgZ VccdjcXZY Wn :67>H EgZh^YZci <^aWZgi AZchhZc VcY 6heZc 7jh^cZhh VcY HdX^Zin Egd\gVb :mZXji^kZ 9^gZXidg ?jY^i] HVbjZahdc Yjg^c\ i]Z :67>H +i] 6ccjVa 8daadfj^jb <VaV 9^ccZg ^c 7VgXZadcV#

Job opportunities across the EFMD network :;B9 ]Vh V _dW edhi^c\ hZgk^XZ i]Vi ^h [gZZ [dg Vaa bZbWZgh VcY l]^X] ^h h]dlXVhZY dc V h^m"lZZ`an WVh^h id dkZg &+!%%% XdciVXih k^V i]Z :;B9 ZCZlh hZgk^XZ# 9jg^c\ '%%, dkZg &%% edh^i^dch lZgZ VYkZgi^hZY l^i] V cjbWZg d[ hjXXZhh[ja XVcY^YViZh Xdb^c\ k^V i]Z :;B9 cZildg`# ;dg bdgZ ^c[dgbVi^dc eaZVhZ k^h^i lll#Z[bY#dg\$_dWh dg XdciVXi bVii]Zl#lddY5Z[bY#dg\

Calls for papers :;B9 ]Vh V 8Vaa [dg EVeZgh edhi^c\ hZgk^XZ i]Vi ^h [gZZ [dg Vaa d[ ^ih bZbWZgh# 8jggZci 8Vaah ^cXajYZ/ :jgdeZVc BZcidg^c\ VcY 8dVX]^c\ 8djcX^a :B88 J@ 'cY 8dc[ZgZcXZ I]Z DhXVg <]Zo Eg^oZ >c XdaaVWdgVi^dc l^i] :jgdbZY BVghZ^aaZ :XdaZ YZ BVcV\ZbZci .i] >ciZgcVi^dcVa 8dc[ZgZcXZ dc =jbVc GZhdjgXZ 9ZkZadebZci 6Xgdhh :jgdeZ I]ZbZ/ 9ZkZade^c\ AZVYZgh VcY BVcV\Zgh :JG6B '%%- 8dc[ZgZcXZ BVcV\^c\ 9^kZgh^in/ :jgdeZVc 9Zhi^cn VcY =deZ A_jWa_VcV VcY 7aZY! HadkZc^V &)"&, BVn '%%&*i] :9^C:7 8dc[ZgZcXZ 6YkVcXZh ^c 7jh^cZhh :YjXVi^dc VcY IgV^c^c\ ;dg bdgZ ^c[dgbVi^dc eaZVhZ k^h^i lll#Z[bY#dg\$Xe dg XdciVXi bVii]Zl#lddY5Z[bY#dg\

IVa`^c\ h]de D[mi WdZ [l[dji _d Xh_[\ \hec j^[ Xki_d[ii mehbZ

Emerald/EFMD outstanding doctoral research award winners Emerald and EFMD announce the winners of the Outstanding Doctoral Research Fund Awards 2007

EFMD I]Z :bZgVaY$:;B9 DjihiVcY^c\ 9dXidgVa GZhZVgX] ;jcY 6lVgYh ]VkZ egdkZY id WZ Vh edejaVg ^c '%%, Vh ^c egZk^djh nZVgh l^i] dkZg &%% Veea^XVi^dch [gdb ^chi^iji^dch Vaa dkZg i]Z ldgaY# I]Z VlVgY _jY\Zh ]VkZ XdbbZciZY i]Vi i]Z dkZgVaa fjVa^in d[ i]Z ldg` hjWb^iiZY i]^h nZVg lVh hjeZgW# I]^h nZVg i]ZgZ lZgZ c^cZ hjW_ZXi XViZ\dg^Zh! hedchdgZY Wn V hZaZXi^dc d[ :bZgVaYĂ&#x2030;h _djgcVah# I]Z VlVgYh lZgZ deZc id i]dhZ l]d ]VY XdbeaZiZY ZmVb^cVi^dc gZfj^gZbZcih [dg V 9dXidgVa 6lVgY WZilZZc & ?jcZ '%%* VcY & DXidWZg '%%,# Egd[ 6cYgZl =ZcaZn! =ZVY d[ HX]dda!

HX]dda d[ 7jh^cZhh VcY :Xdcdb^Xh Vi HlVchZV Jc^kZgh^in ^c 7g^iV^c! hVnh i]Vi i]Z ^ciZgcVi^dcVa gZXd\c^i^dc Vg^h^c\ [gdb i]Z VlVgYh ^h Ă&#x2020;]j\Zan ^bedgiVciĂ&#x2021; [dg V ndjc\ VXVYZb^X Vi i]Z hiVgi d[ ]^h dg ]Zg XVgZZg VcY i]Vi Ă&#x2020;> Vb VWhdajiZan YZa^\]iZY i]Vi 9g Nd\Zh] 9l^kZY^Ă&#x2030;h YdXidgVa gZhZVgX] ]Vh WZZc ]dcdjgZY ^c i]^h lVnĂ&#x2021; Pl^i] V =^\]an 8dbbZcYZY VlVgYR# 7ZXVjhZ i]Z fjVa^in d[ hjWb^hh^dch lVh ZmXZei^dcVaan ]^\] i]^h nZVg! i]Z _jY\Zh [VXZY i]Z kZgn Y^[Ă&#x2019;Xjai iVh` d[ YZX^Y^c\

l]d h]djaY gZXZ^kZ i]Z egZhi^\^djh VlVgY# DcZ dkZgVaa l^ccZg ]Vh WZZc hZaZXiZY [gdb ZVX] hjW_ZXi XViZ\dgn VcY V cjbWZg d[ =^\]an 8dbbZcYZY VcY HeZX^Va 8dbbZcYVi^dch ]VkZ WZZc WZhidlZY# DkZgVaa l^ccZgh l^aa gZXZ^kZ V XVh] eg^oZ d[ &!*%% dg XjggZcXn Zfj^kVaZci !

V XZgi^Ă&#x2019;XViZ VcY Vc d[[Zg d[ ejWa^XVi^dc ^c i]Z hedchdg^c\ _djgcVa! Z^i]Zg Vh V [jaa eVeZg dg Vc ZmZXji^kZ hjbbVgn Vi i]Z ZY^idgĂ&#x2030;h Y^hXgZi^dc# 6aa =^\]an 8dbbZcYZY VcY HeZX^Va 8dbbZcYVi^dc l^ccZgh l^aa gZXZ^kZ XZgi^Ă&#x2019;XViZh# Ă&#x2020;LZ Xdc\gVijaViZ i]Z l^ccZgh! =^\]an 8dbbZcYZY VcY HeZX^Va 8dbbZcYVi^dc ZcigVcih ^c i]Z '%%, D9G6h [dg i]Z^g ZmXZaaZci hX]daVgh]^e!Ă&#x2021; hVnh ?d]c EZiZgh! 8]^Z[ :mZXji^kZ d[ :bZgVaY <gdje EjWa^h]^c\# Ă&#x2020;LZ VeegZX^ViZ i]Z ldg` YdcZ Wn hjeZgk^hdgh VcY di]Zgh ^c hjeedgi^c\ i]Z D9G6 Veea^XVi^dch# :bZgVaY ^h eaZVhZY id eaZY\Z djg dc\d^c\ hjeedgi [dg i]Z 6lVgYh ^c '%%-! VcY id Xdcig^Wji^c\ id djihiVcY^c\ hX]daVgh]^e ^c i]Z Ă&#x2019;ZaY d[ YdXidgVa gZhZVgX] ^c Wjh^cZhh VcY bVcV\ZbZci#Ă&#x2021; Ă&#x2020;:;B9 ^h ZmXZZY^c\an egdjY id hjeedgi VcY gZlVgY hjX] ]^\]"fjVa^in gZhZVgX] i]gdj\] i]Z VlVgYh!Ă&#x2021; VYYh :;B9 9^gZXidg <ZcZgVa 8:D :g^X 8dgcjZa# Ă&#x2020;LZ l^h] i]Z l^ccZgh! VcY ^cYZZY Vaa i]Z Veea^XVcih! hjXXZhh ^c i]Z^g [jijgZ VXVYZb^X XVgZZgh#Ă&#x2021; ;jgi]Zg jeYViZh ^cXajY^c\ ejWa^XVi^dc YZiV^ah! l^aa VeeZVg ^c <adWVa ;dXjh VcY dc i]Z :bZgVaY VcY :;B9 lZWh^iZh Vh ^c[dgbVi^dc WZXdbZh VkV^aVWaZ#

=jbVc GZhdjgXZ BVcV\ZbZci 8ViZ\dgn hedchdgZY Wn EZghdccZa GZk^Zl

L^ccZg 9g 8daZiiZ 9VgXn! CVi^dcVa 8daaZ\Z d[ >gZaVcY! HX]dda d[ 7jh^cZhh! >gZaVcY =^\]an 8dbbZcYZY 9g @VgZc 7ZX`Zg FjZZchaVcY Jc^kZgh^in d[ IZX]cdad\n!

HX]dda d[ BVcV\ZbZci! 6jhigVa^V 9g HVgV] Lg^\]i Jc^kZgh^in d[ 8VciZgWjgn 9ZeVgibZci d[ BVcV\ZbZci! 8]g^hiX]jgX]! CZl OZVaVcY HeZX^Va 8dbbZcYVi^dc/ 9g M^Vdn^ Lj M^VbZc Jc^kZgh^in! HX]dda d[ BVcV\ZbZci! 8]^cV

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

eV\Zh &,U&-

JWba_d] i^ef

IEKD:8?J;I

Emerald is pleased to pledge our ongoing support to outstanding scholarship in the field of Doctoral research in business and management ?d]c EZiZgh! 8]^Z[ :mZXji^kZ d[ :bZgVaY <gdje EjWa^h]^c\

>c[dgbVi^dc HX^ZcXZ

AZVYZgh]^e VcY Dg\Vc^hVi^dc 9ZkZadebZci

BVcV\ZbZci VcY <dkZgcVcXZ

8ViZ\dgn hedchdgZY Wn ?djgcVa d[ 9dXjbZciVi^dc

8ViZ\dgn hedchdgZY Wn AZVYZgh]^e Dg\Vc^oVi^dc 9ZkZadebZci ?djgcVa

8dci###

L^ccZg Egd[ A^b^c\ A^Vc\ =ZcVc CdgbVa Jc^kZgh^in! >chi^ijiZ [dg HX^ZcXZ IZX]cdad\n VcY HdX^Zin! 8]^cV =^\]an 8dbbZcYZY 9g :a^hVWZi] 9Vk^Zh Jc^kZgh^in d[ LZhiZgc DciVg^d! ;VXjain d[ >c[dgbVi^dc VcY BZY^V HijY^Zh! 8VcVYV 9g EdadcV K^aVg 9ZeVgibZci d[ A^WgVgn VcY >c[dgbVi^dc HX^ZcXZ VcY 7dd` HijY^Zh! ;VXjain d[ 6gih! Jc^kZgh^in d[ A_jWa_VcV! HadkZc^V

L^ccZg 9g 6cYgZVh G^X]iZg Dg\Vc^oVi^dcVa 7Z]Vk^djg VcY =jbVc GZhdjgXZh! >chi^ijid YZ :begZhV 7jh^cZhh HX]dda! BVYg^Y! HeV^c

>ciZgY^hX^ea^cVgn 6XXdjci^c\ GZhZVgX]

=^\]an 8dbbZcYZY 9g I^b 7V`Zg FjZZchaVcY Jc^kZgh^in d[ IZX]cdad\n!

HX]dda d[ AZVgc^c\ Egd[Zhh^dcVa HijY^Zh! 6jhigVa^V 9g I^b LVa`Zg Jc^kZgh^in d[ JahiZg! ;VXjain d[ 7jh^cZhh BVcV\ZbZci! J@

8ViZ\dgn hedchdgZY Wn 6XXdjci^c\! 6jY^i^c\ 6XXdjciVW^a^in ?djgcVa

Ad\^hi^Xh VcY Hjeean 8]V^c BVcV\ZbZci

L^ccZg 9g =ZaZc IgZ\^Y\V 6JI 7jh^cZhh HX]dda! 6jX`aVcY Jc^kZgh^in d[ IZX]cdad\n! CZl OZVaVcY =^\]an 8dbbZcYZY 9g 8]VgaZh 8]d 8dcXdgY^V Jc^kZgh^in! ?d]c Bdahdc HX]dda d[ 7jh^cZhh! FjZWZX! 8VcVYV 9g A^hV 6cc EdlZaa Jc^kZgh^in d[ 6YZaV^YZ! HX]dda d[ 8dbbZgXZ! Hdji] 6jhigVa^V @cdlaZY\Z BVcV\ZbZci 8ViZ\dgn hedchdgZY Wn ?djgcVa d[ @cdlaZY\Z BVcV\ZbZci

L^ccZg 9g HVcY]nV H]Z`]Vg >cY^Vc >chi^ijiZ d[ IZX]cdad\n BVYgVh! 9ZeVgibZci d[ BVcV\ZbZci HijY^Zh! >cY^V =^\]an 8dbbZcYZY 9g 9^b^ig^h 7gVX]dh 6i]Zch Jc^kZgh^in d[ :Xdcdb^Xh VcY 7jh^cZhh! BVcV\ZbZci HX^ZcXZ VcY IZX]cdad\n! <gZZXZ 9g Gdcn 9VnVc 8gVcĂ&#x2019;ZaY Jc^kZgh^in! J@ 9g @dcYVa GZYYn @VcYVY^ Jc^kZgh^in d[ 7daidc! 7jh^cZhh Ad\^hi^Xh d[ >c[dgbVi^dc HnhiZbh! J@

8ViZ\dgn hedchdgZY Wn >ciZgcVi^dcVa ?djgcVa d[ E]nh^XVa 9^hig^Wji^dc Ad\^hi^Xh BVcV\ZbZci

L^ccZg 9g NjVc M^c\ =Zg^di"LVii Jc^kZgh^in! I]Z Ad\^hi^Xh GZhZVgX] 8ZcigZ! AdcYdc! J@ =^\]an 8dbbZcYZY 9g CVgVh^b]V @VbVi] >cY^Vc >chi^ijiZ d[ BVcV\ZbZci 8VaXjiiV! BVcV\ZbZci >c[dgbVi^dc HnhiZbh! >cY^V BVcV\ZbZci VcY <dkZgcVcXZ 8ViZ\dgn hedchdgZY Wn BVcV\ZbZci 9ZX^h^dc

L^ccZg 9g 7Zii^cV L^iicZWZc :gVhbjh Jc^kZgh^in GdiiZgYVb! 7jh^cZhh"HdX^Zin BVcV\ZbZci! i]Z CZi]ZgaVcYh =^\]an 8dbbZcYZY 9g 9Vk^Y 6i`^chdc AVcXVhiZg Jc^kZgh^in BVcV\ZbZci HX]dda! J@ 9g <Zdg\ 8VheVgn LdgaY 7Vc`! LVh]^c\idc! JH6 9g Nd\Zh] 9l^kZY^ HlVchZV Jc^kZgh^in!

HX]dda d[ 7jh^cZhh VcY :Xdcdb^Xh! J@ 9g @VgZc BVginc BVhhZn Jc^kZgh^in! BVcV\ZbZci 9ZeVgibZci! CZl OZVaVcY

9g ?ZaZcV EZigdk^X Jc^kZgh^in d[ LdakZg]Vbeidc 7jh^cZhh HX]dda! >ciZgcVi^dcVa 7jh^cZhh! J@ HeZX^Va 8dbbZcYVi^dc 9g NVc 9Vc Lj]Vc Jc^kZgh^in d[ IZX]cdad\n!

HX]dda d[ BVcV\ZbZci! 8]^cV 9g Edd_V BVa]digV <jgj CVcV` 9Zk Jc^kZgh^in!

8dbbZgXZ 7jh^cZhh BVcV\ZbZci! >cY^V 9g BV_^Y EZhVgVc <]VYZg HiViZ BVcV\ZbZci VcY EaVcc^c\ Dg\Vc^oVi^dc! >chi^ijiZ [dg BVcV\ZbZci VcY EaVcc^c\ HijY^Zh! >gVc 9g E]VaaVeV EZi^hdc BV]^Yda Jc^kZgh^in!

HX]dda d[ BVcV\ZbZci! I]V^aVcY BVg`Zi^c\ HigViZ\n 8ViZ\dgn hedchdgZY Wn :jgdeZVc ?djgcVa d[ BVg`Zi^c\

L^ccZg 9g 9jaZ`]V @Vhijg^gVicZ >beZg^Va 8daaZ\Z AdcYdc Jc^kZgh^in d[ AdcYdc! J@ =^\]an 8dbbZcYZY 9g AdaV 9VYV! Jc^kZgh^in d[ HjggZn! HX]dda d[ BVcV\ZbZci! J@ DeZgVi^dch VcY EgdYjXi^dc BVcV\ZbZci 8ViZ\dgn hedchdgZY Wn >ciZgcVi^dcVa ?djgcVa d[ DeZgVi^dch EgdYjXi^dc BVcV\ZbZci

L^ccZg 9g 8aV^gZ Bdm]Vb Jc^kZgh^in d[ BVcX]ZhiZg! BVcX]ZhiZg 7jh^cZhh HX]dda! J@ =^\]an 8dbbZcYZY 9g 6a^hiV^g 7gVcYdc"?dcZh Jc^kZgh^in d[ 7Vi]!

HX]dda d[ BVcV\ZbZci! J@ 9g LZcYn kVc YZg KVa` :^cY]dkZc Jc^kZgh^in d[ IZX]cdad\n! i]Z CZi]ZgaVcYh

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

B_\[ Wj j^[ jef0 :_fWa @W_d ?dj[hl_[m Wn <Zdg\Z 7^X`ZghiV[[Z

eV\Zh &.U&/

B_\[ Wj j^[ jef 9>E6@ ?6>C! 9:6C D; @:AAD<<! I6A@H 67DJI 7JH>C:HH H8=DDA <DK:GC6C8:! I=: ;JIJG: D; I=: B76! 9:BD<G6E=>8H 6C9 HI6N>C< DC IDE D; I=: G6C@>C<H# >CI:GK>:L 7N =;EH=; 8?9A;HIJ7<<; 9^eV` 8 ?V^c! aZ[i! ^h 9ZVc d[ i]Z @Zaad\\ HX]dda d[ BVcV\ZbZci Vi Cdgi]lZhiZgc Jc^kZgh^in ^c 6bZg^XV VcY _d^cZY i]Z 7dVgY d[ :;B9 ^c '%%,# =Z lVh Wdgc ^c &.*, ^c IZoejg! V hbVaa idlc ^c 6hhVb ^c cdgi]ZVhi >cY^V! VcY \V^cZY V WVX]Zadgh VcY V bVhiZgh YZ\gZZ ^c bVi]ZbVi^XVa hiVi^hi^Xh [gdb <Vj]Vi^ Jc^kZgh^in ^c >cY^V! l]ZgZ ]Z Vahd iVj\]i jci^a aZVk^c\ ^c &.-( id hijYn [dg V E]9 ^c bVg`Zi^c\ Vi i]Z Jc^kZgh^in d[ IZmVh ^c 6bZg^XV# 6[iZg ZVgc^c\ ]^h E]9! ]Z _d^cZY i]Z @Zaad\\ HX]dda VcY ]Vh WZZc V [VXjain bZbWZg h^cXZ &.-,# H^cXZ &.-. ]Z ]Vh Vahd iVj\]i Vi i]Z HVh^c <gVYjViZ >chi^ijiZ d[ 7jh^cZhh 6Yb^c^higVi^dc Vi 8]jaVadc\`dgc Jc^kZgh^in ^c 7Vc\`d`# 9ZVc ?V^cÉh VgZVh d[ gZhZVgX] ^cXajYZ i]Z bVg`Zi^c\ d[ ]^\]"iZX] egdYjXih0 bVg`Zi hZ\bZciVi^dc VcY XdbeZi^i^kZ bVg`Zi higjXijgZ VcVanh^h0 Xgdhh"XjaijgVa ^hhjZh ^c \adWVa egdYjXi Y^[[jh^dc0 cZl egdYjXi Y^[[jh^dc0 VcY [dgZXVhi^c\ bdYZah#

6AA >B6<:H 8DJGI:HN/ @:AAD<< H8=DDA D; B6C6<:B:CI

=dl Yd ndj hZZ i]Z XjggZci gdaZ d[ V Wjh^cZhh hX]dda4

All business schools have three missions: knowledge creation, knowledge dissemination and knowledge certification. Knowledge creation is achieved through research; knowledge dissemination through teaching; and knowledge certification through the bestowing of degrees.

In each of the three functions, both rigour and relevance must be present. Knowledge creation requires that research is accessible to a broad audience. Knowledge dissemination necessitates that the skills professors teach are applicable to students.

Knowledge certification requires degrees to be relevant in today’s business world.

Kellogg focuses on producing responsible global leaders. We regard the MBA not just as a business degree but as a way to promote leadership within students, providing them with the knowledge and resources to give back to the world. As such, we want students to leave Kellogg with strong technical skills and a holistic understanding of business that can be applied across many fields and functions.

I]ViÉh l]n ndj ]VkZ ^cigdYjXZY V cZl VeegdVX] i]^h nZVg4

Yes. Since our objective is to produce responsible global leaders, Kellogg has worked to solidify an approach that helps us achieve this.

Our foundation consists of four platforms. We describe the educational component as Intellectual Depth. For this to be successful, it must be coupled with an Experiential Learning component. Just as medical students take part in residency programmes, business schools should have similar business residency programmes for students to practise the theories and concepts taught in the classroom. At Kellogg, Experiential Learning is an important part of the curriculum. Whether students are helping to take life-saving drugs to market through our Global Health Initiative programme, or serving as ex-officio board members for non-profit organisations as part of our Board Fellows Program, they are constantly gaining real-word, hands-on experience.

Our third platform at the Kellogg School is Global Perspective. Globalisation is a force of gravity, and American schools cannot afford to be US-centric. To help students develop a global perspective, we’ve included a global course requirement across all of our MBA programmes to ensure students have the broad exposure they need to succeed in today’s business world.

7jh^cZhh hX]ddah ]VkZ id WZ XjhidbZg"XZcig^X VcY djg cZl bdYZa ZchjgZh i]^h l^aa gZbV^c i]Z XVhZ Vi @Zaad\\

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

B_\[ Wj j^[ jef0 :_fWa @W_d ?dj[hl_[m Wn <Zdg\Z 7^X`ZghiV[[Z

eV\Zh '&U''

The fourth platform focuses on Leadership and Social Responsibility. We want to instil in students the desire to effectively lead and give back both inside and outside of the classroom.

)

I]Z `Zn [djcYVi^dc ZaZbZcih d[ i]Z @Zaad\\ B76/ >ciZaaZXijVa 9Zei] :meZg^Zci^Va AZVgc^c\ <adWVa EZgheZXi^kZ AZVYZgh]^e VcY HdX^Va GZhedch^W^a^in

I]ViÉh V adi d[ Zbe]Vh^h dc hd[i h`^aah# 6gZ i]Zn WZXdb^c\ i]Z Y^[[ZgZci^Vi^c\ [VXidg ^c XdbeZi^i^dc4 6gZ XdgZ XdjghZh _jhi V XdbbdY^in cdl4

Soft skills create hard impressions. Most students don’t get their MBA for the core courses but are instead motivated by a strong elective base and unsurpassed faculty that can provide them with the tools and knowledge to succeed. The Kellogg School’s competitive advantage lies in its world-class faculty, diverse coursework, emphasis on team learning, and a culture of collaboration and innovation.

L]n ]VkZ ndj gZdg\Vc^hZY ndjg dlc YZVcÉh d[ÒXZ4

We have restructured the Office of the Dean to include a third senior associate dean, David Besanko. David is now senior associate dean for academic affairs: planning and external relations, which gives him responsibility for the key administrative areas of the Departments of Alumni Relations and Development, the Career Management Center and the Marketing and Communications Department. He will join Sunil Chopra and Kathleen Hagerty, who continue their roles as senior associate deans for academic affairs, with Prof Chopra overseeing curriculum and teaching and Prof Hagerty managing faculty and research.

No business school has this sort of model, and our motivation behind the restructuring was people. Business schools have several important constituencies: students, faculty, alumni, corporate partners and recruiters, and media – people like you. These are the major stakeholders and I wanted to make sure that each falls under the purview of my senior associate deans.

In business schools, academics need to be incorporated into the organisational design.

You can outsource functions but you cannot outsource leadership or accountability.

Business schools have to be customer-centric and our new model ensures this will remain the case at Kellogg.

It is also important for succession planning as business schools ought to be institutional-driven and not individual-driven. I can rotate the three senior associate deans across functions so that each gains diverse experience. For example, Dean Besanko has previously served as senior associate dean for curriculum and teaching.

Ndj ]VkZ gZXZcian _d^cZY i]Z WdVgY d[ :;B9# 6gZ :jgdeZVc VcY JH bdYZah d[ bVcV\ZbZci ZYjXVi^dc Yg^[i^c\ VeVgi4

The concepts espoused at European and US schools are the same, but sometimes I feel as though European schools emphasise globalisation more than US schools. I believe that schools based all over the world can come together in a positive way, creating a unified global conceptual framework. EFMD can facilitate this movement.

innovate by becoming a centre for collaborative research and learning.

In five years, I want Kellogg to be known not just as the best business school in the world but also the best business school for the world.

L]Vi VgZ ndjg XjggZci eg^dg^i^Zh4

Kellogg is a strong believer in collaboration and has certainly set a precedent by pioneering the teamwork model. My current priority is to create additional collaborative research centres for the school.

For example, one of the key issues facing the world, particularly Europe, is immigration. As a subject it encompasses economics, sociology and other disciplines and I would like to create a centre for demographic research that brings these different disciplines together.

A strong portfolio of centres will provide students with enhanced opportunities for Experiential Learning.

To facilitate this, I have established a taskforce to explore the possibility of a new Kellogg building that can accommodate our growth initiatives. @Zaad\\ ]Vh WZZc V ide"gVc`ZY hX]dda [dg V adc\ i^bZ# >h i]Vi Vc VYkVciV\Z dg ^h ^i V WjgYZc id hiVn i]ZgZ4

To remain at the top, an organisation cannot be complacent. Instead, it must demonstrate continuous innovation and progress.

Kellogg will remain on the world stageâ&#x20AC;&#x201D;especially as we continue to

>c Ă&#x2019;kZ nZVgh! > lVci @Zaad\\ id WZ `cdlc cdi _jhi Vh i]Z WZhi Wjh^cZhh hX]dda ^c i]Z ldgaY Wji Vahd i]Z WZhi Wjh^cZhh hX]dda [dg i]Z ldgaY

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

eV\Zh '(U')

9:B6C9H DC 8DBE6C>:H ID <:I I=: BDHI DJI D; I=:>G >I HNHI:BH 6G: <GDL>C<# B6GI>C 8JGA:N 9:H8G>7:H DC: 6II:BEI ID 9:K:ADE 6C >C9JHIGN" L>9: BD9:A ID 6HH:HH 6C9 >BEGDK: I=: 7JH>C:HH K6AJ: D; >I

CWa_d] j^[ ceij e\ ?J I]Z _dW d[ V 8]^Z[ >c[dgbVi^dc D[ÒXZg 8>D ^h kZgn Y^[ÒXjai# BVcn 8>Dh ]VkZ id bV`Z ^i je Vh i]Zn \d Vadc\ Ä hd [Vg i]ZgZ ]Vh WZZc cd ^ciZ\gViZY WZhi egVXi^XZ bdYZa YZkZadeZY VcY i]ZgZ VgZ cdi hd bVcn iddah id ]Zae V 8>D WZ hjXXZhh[ja#

Indeed, many argue that CIO really stands for “career is over”. But given the right tools, the CIO could become an organisation’s “Chief Innovation Officer”.

This is what the Innovation Value Institute (IVI), based at the National University of Ireland (NUIM), aims to do. IVI, co-founded by Intel and NUIM, It will help CIOs manage IT as a utility to deliver value and then to really exploit IT as ‘Innovation Technology’.

The IVI consortium is a cross-industry community with, currently, some 40 members including Intel, Microsoft, SAP, Google, Chevron, BP and consultancies such as the Boston Consulting group, Ernst and Young and the Butler Group. There are six principal groups represented within the consortium: professional associations, academia, analysts, enterprise, public sector and eco-system.

This distinctive collaboration is providing a unique environment for the synthesis of leading industry best practices and pioneering academic output, training and education, far beyond what any one entity could hope to achieve by itself.

It operates on a system of open innovation, a concept based on the idea that in a world of widely distributed information, organisations cannot afford to rely entirely on their own knowledge but instead would benefit from sharing ideas and knowledge with

BVcn Vg\jZ i]Vi 8>D gZVaan hiVcYh [dg XVgZZg ^h dkZg# 7ji \^kZc i]Z g^\]i iddah! i]Z 8>D XdjaY WZXdbZ Vc dg\Vc^hVi^dcÉh 8]^Z[ >ccdkVi^dc D[ÒXZg

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

CWa_d] j^[ ceij e\ ?J Wn BVgi^c 8jgaZn

eV\Zh '*U'+

other entities. Together, this collaboration will facilitate major advances much faster and with higher quality than any one organisation could hope to achieve by itself.

IVI’s vision is to transform the way organisations get value from IT, through researching, developing and disseminating an empirically proven and industry validated IT best practice model. Its mission is to develop a unifying approach for managing the value of information technology investments and to validate that these approaches have a broad applicability across differing industries and contexts.

INNOVATION AHEAD

Already IVI consortium members are seeing value. The CIO of the Irish Utility ESB and an early adopter of output from the IVI says “the collective intelligence of the IVI consortium has added fundamental value to us and we are using the outputs to blueprint our business and determine key improvement actions”.

To address the need for an over-arching IT business value framework, IVI, under the core themes of IT Value and IT Innovation, will advance methodologies, tools and practices that will enable organisations to optimally manage their IT capability to answer the needs of improved IT value delivery and IT-driven innovation. Initially, IVI is focusing on extending the development and dissemination of the IT Capability Maturity Framework (IT-CMF)tm.

IT Capability Maturity Framework (IT-CMF)TM The IT-CMFtm enables senior executives and IT specialists to adopt four inter-related strategies – Managing the IT Budget, Managing the IT Capability, Managing IT Like a Business and Managing IT for Business Value (Figure 1).

BV_dg HigViZ\^Zh

Managing IT like a Business

Managing the IT budget

Managing IT for Business Value

Managing IT Capability

Business Stratgey Busines Context

BVijg^in AZkZah BVcV\^c\ i]Z

>I 7jY\Zi

BVcV\^c\ i]Z >I 8VeVW^a^in

BVcV\^c\ >I [dg BVcV\^c\ >I 7jh^cZhh KVajZ a^`Z V 7jh^cZhh

*# Dei^b^h^c\

HjhiV^cVWaZ 8dgedgViZ 8dgZ Dei^b^hZY KVajZ KVajZ 8ZcigZ :Xdcdb^X BdYZa 8dbeZiZcXZ Managing

)# 6YkVcXZY

Business :meVcYZY HigViZ\^X Dei^dch VcY >ckZhibZci 8ZcigZ ;jcY^c\ Dei^dch 7jh^cZhh EVgicZg Edgi[da^d Bc\bi

IT like a

Managing

(# >ciZgbZY^ViZ HnhiZb^X 8dhi the IT IZX]cdad\n budget

GZYjXi^dc :meZgi

Managing the IT GD> VcY capability

7jh^cZhh 8VhZ

Managing IT

HZgk^XZ 8ZcigZ for Business

Value

'# 7Vh^X

EgZY^XiVWaZ EZg[dgbVcXZ

&# >c^i^Va

1 TTTTTTTTTTTTTTTTTTTTTTTT 7Z\^cc^c\ TTTTTTTTTTTTTTTTTTTTTTTTTT 3

IZX]cdad\n Hjeea^Zg

I8D

8dhi 8ZcigZ

<_]kh[ '0 7jh^cZhh KVajZ VcY BVcV\^c\ >I a^`Z V 7jh^cZhh

<_]kh[ (

Within each of the four IT strategies, there are five levels that are used to assess an IT organisation’s level of maturity and improve the outcomes and processes by which it operates and the business value it generates by advancing to the next level.

a technology supplier at Level 2 to its full maturity at Level 5 where it offers corporate strategic capability.

The generic maturity levels (inspired by SEI’s Capability Maturity Model for software development) are: Ad hoc (or no processes), Basic, Intermediate, Advanced and Optimising. Figure 2 combines the four strategies and the maturity levels.

Managing the IT Budget Managing the IT Budget is critical to delivering current and future value.

The IT-CMFtm looks at the practices and tools, which can be used to manage an IT budget so costs are reduced and funds freed to invest in innovative IT solutions that deliver better value and performance. As you can see from the Managing the IT Budget strategy, the path to a sustainable economic model begins with controlling and managing costs to allow for greater funding in IT investment.

Managing the IT Capability The IT capability is what information technology and IT organisations can do collectively for a business. The IT-CMFtm demonstrates how to manage the capability of an IT organisation by managing IT assets through the value chain and developing core competencies. It also describes some tools available to measure that capability. A properly managed IT capability leads to the continuous development of new strategic applications to deliver sustainable economic advantage.

The Managing the IT Capability strategy charts the rise of IT from

Managing IT for Business value Managing for IT Business Value involves linking IT investments to overall business benefits. The IT-CMFtm outlines the core business practices and tools required to optimise an IT organisation’s business value. These practices and tools include Total Cost of Ownership (TCO), Return on Investment (ROI), the Business Value Index (BVI) and Portfolio Management. The Managing for IT Business Value strategy provides a structure for an IT organisation to move from managing IT as a technology project to regarding IT as a portfolio of investments that generate value for the entire business.

Managing IT like a Business Managing IT like a Business means running IT like any other business and that involves shifting the focus from technology and production to a focus on customers and services. The IT-CMFtm describes the internal processes required to move an IT organisation from a technology to a service orientation that provides customer-driven solutions to business problems. As an organisation makes this change and moves up the Managing IT like a Business strategy, it allies itself more closely with the organistation and its overall business objectives. The transformation to running your IT organisation like a business is complete when IT moves from a cost to a value centre.

IT-CMFtm views the effective management of the IT function within a firm as focusing on these four major strategies, with the IT budget essentially the input to the production process, the IT capability as

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

CWa_d] j^[ ceij e\ ?J Wn BVgi^c 8jgaZn

Business Stratgey Busines Context

Managing IT like a Business Managing the IT budget

Managing the IT capability

Managing IT for Business Value

eV\Zh ',U'-

I]Z >ccdkVi^dc KVajZ >chi^ijiZ ]deZh id Wj^aY V higViZ\^X gZaVi^dch]^e l^i] :B;9 VcY bZbWZg Wjh^cZhh hX]ddah id VX]^ZkZ bdgZ kVajZ [gdb >I VcY jai^bViZan VX]^ZkZ bdgZ XdbbZgX^Va hjXXZhh

<_]kh[ )

the production engine and IT value as the output. Managing IT like a Business sets strategy and closes the loop by providing the feedback mechanism for adjusting inputs to optimise the output value. These four strategies should be aligned to the organisation’s overall business strategies and the business context it operates within. (Figure 3) While the IT-CMFtm provides a methodology and roadmap to help IT and business executives deliver and demonstrate more value from IT, it will also provide a more detailed and integrated approach for IT and business practitioners.

The IT-CMF is currently being designed to help organisations better manage how they engage in measuring the business value of their IT investments, choosing the best IT investment proposals, delivering competitive advantage and managing IT investments for optimal business value. Ultimately, the IT-CMFtm will help organisations achieve more business value from IT through adopting a structured improvement approach.

The IVI also administers a Professional Diploma and Certificate in the subject area of Managing and Measuring Information Technology for Business Value.

These two courses meet the challenge of how to quantify the business value of IT head-on by extending the definition of business value beyond productivity and showing how to measure business value, choose the best IT investments, deliver competitive advantage and manage for optimal IT Business Value.

Both the one-day certificate and three-day diploma courses are accredited by the National University of Ireland.

To date, IT and business executive audiences in over 20 countries have received versions of these courses. Additionally, both courses are available to other academic institutions for delivery within their education programmes.

It is in such areas that partnership with EFMD can be crucial to the dissemination of the IT-CMFtm model to a wider community, particularly through the EFMD’s extensive network of business schools and corporate members. The Innovation Value Institute hopes to build a strategic relationship with EFMD and member business schools to achieve adoption of new curricula that will advance the way executives and companies achieve more value from IT and ultimately achieve more commercial success.

As technology is increasingly a core source of competitive advantage in business, leaders who adopt IT as ‘Innovation Technology’ and adopt systematic approaches to improvement will likely lead and achieve sustainable competitive advantage. Adoption of the ITCMFtm can help drive a structural improvement in how organisations can get ahead through the use of IT. More details are available at http://ivi.nuim.ie/ 78EKJ J>; 7KJ>EH

BVgi^c 8jgaZn ^h HZc^dg Eg^cX^eVa :c\^cZZg VcY <adWVa 9^gZXidg d[ >I >ccdkVi^dc VcY GZhZVgX] Vi >ciZa 8dgedgVi^dc! bVcV\^c\ V cZildg` d[ >I >ccdkVi^dc 8ZcigZh XViVano^c\ >I >ccdkVi^dc# =Z ^h Vahd i]Z Vji]dg d[ BVcV\^c\ >c[dgbVi^dc IZX]cdad\n [dg 7jh^cZhh KVajZ VcY Xd"Y^gZXidg d[ i]Z >ccdkVi^dc KVajZ >chi^ijiZ#

EFMD

7JH>C:HH H8=DDA C6B:/

HJ7?:8I/

9d Wjh^cZhh hX]ddah cZZY [dgbVa fjVa^in VhhjgVcXZ hnhiZbh4 N:H I=:N 9D! H6NH 8=G>H <G::CHI:9# 7JI I=:N C::9 ID 7: 9DC: EGDE:GAN =BE87B <E9KI (&&.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

GkWb_jo WiikhWdY[ ioij[ci Wn 8]g^h <gZZchiZY

<_]kh[ '0 F6 HnhiZbh bVe

eV\Zh '.U'/

Accreditation and quality influences Programmespecific accreditation EPAS European/Global any business and mgnt possible

EPAS C

International whole school accreditation EQUIS European/Global Holistic, covering all school’s activities

AMBA UK/Global MBA and PEMM

Institution Business School

Professional UK/Global eg: CIPD, accw, CMI, BSI etc

Programme / Module Review / Evaluate

AACSB US/Global Programme focus but covering all business and management in whole institution

University Subject review Programme validation and review

Cd"dcZ fjZhi^dch i]Z cZZY [dg fjVa^in ^c Wjh^cZhh hX]ddah#

So do all staff strive for quality or is there a need for formal “quality assurance” (QA) systems to facilitate the journey to perceived high quality? Some rather negative quotes that may be heard around business schools include: Quality assurance is sooo boring!

I am/we are perfect – it’s the others that are the problem!

We have a Quality Department (aka the quality police) for that QA stuff so it’s not my job or responsibility!

Competition and quality management Business education today is a global industry. The days of relatively cosy local markets with captive student populations are disappearing fast as international competition comes to our doorsteps. There is only one way to survive in such competitive markets and that is to offer very high-quality products or programmes.

So what does high quality mean to a business school? Current wisdom suggests that a business should “delight” its customers so perhaps a business school should delight its stakeholders.

This can only be done by having a high-quality culture or ethos that pervades all the activities within a school. It has to be a way of life and not a one-off project for the Quality Department or even for those responsible for accreditations such as EQUIS or EPAS. The development of a quality culture can only come by being led, promoted, supported and acted out by the Dean and by his or her management team.

Progra objecti

Target intend profile

Marke promo

Intend outcom

Progra and co

UK regulatory quality assurance HEFEC Research Assessment Exercise

Progra

QAA HEA Institutional audit National Student Survey DATS to 2005

Delive

Assess

A key way to do this is to have a formal management system for the pursuit of excellence and the management of quality improvement, which should lie alongside the other management systems for research, teaching and learning, marketing and financial management.

The system should specify standards, set key performance indicators, have a measurement system for these, require regular reporting, and be taken seriously as evidenced by management actions such as celebrating success and taking remedial action in less successful areas.

On embedding good practice Study of QM processes available | Overcoming barriers to quality management processes Study of QM

Of course the concept of achieving highStudent quality is a moving target Methods for listening an involvement in quality management Module evaluation & feedback Module evaluation policies & practice WebCT to gather feedback | Database and can never be achieved. The management system should be of evaluation forms | Students’ views are a vital ingredient for effective module evaluation Integrating quality management with teaching National bodies’ views designed so as to take the school to everinformation higher architecture levels of|quality.

Wharton’s method | Make tools and reports to challenge and inspire educators

Improving student support Quality self-diagnostic tool | Findings from The UK Quality in Business Education project The QuBE knowledge base(QuBE) Quality briefi ngs | Research reports | Thi The UK is known for having an over-regulated higher-education system subject to reviews by a plethora of bodies (see Figure 1).

Internally, universities carry out periodic reviews of departments including business schools while, externally, teaching systems are assessed by the QAA and research by the Funding Councils. In addition, business schools may choose to obtain accreditation from professional bodies such as the accounting institutes, marketing and HR institutes, and finally perhaps international accreditation from EFMD, AMBA or AACSB. Review and accreditation overload!

The QuBE project was established with government funding to research issues of quality in business schools and to propose methodologies for improvement and tools to help make those improvements actually happen. QuBE developed an interactive Road Map (see Figure 2) to help Deans identify where their schools

Current position Key indicators

Action required Processes, products and roles, to reach the next level

1 Unsatisfactory

2

3

4

5 Extraordinary

Recognising the quality problem

Tackling the quality problem

Implementing quality system

Enhancing quality

Excellence Exemplar status

No systems to measure /manage quality

Fragmented/ineffective systems

Quality process in place. Compliance

Quality embedded in the culture

Quality pays for itself

Highlight current failure and opportunities for survival

Set goals, create a quality policy

Develop a process that is capable of delivering the product sustainably

Benchmark against our competition, update quality policy as required

Benchmark against the best in the world (e.g. via international accreditation)

output

Define roles and responsibilities

Use the process to deliver and improve the teaching and learning deliverables

Seek out good ideas (e.g. use EQUIS, BMAF subject centre, HE Academy)

Foster innovation

Identify stakeholders and understand their needs

Audit/review (e.g. use AMBA criteria). Incorporate lessons learned

Share good practice

Extend the system to affiliates/suppliers (manage the brand)

Manage risk

Harvest benefits

ality

Develop teaching and learning deliverables that meet their needs and ours

Change management Building a quality culture in teaching and learning

Satisfactory

Reward and support good practice

Convince senior management (e.g. VC, deans). They help

Celebrate success

sell to staff colleagues, who try to engage students and other stakeholders.

<_]kh[ (0 Fj7: gdVY bVe# FJ7:

lay on the quality spectrum and hence to identify tools that would take them to the next level of performance. This structure is best seen on the QuBE web: www.qube.ac.uk.

EFMD accreditation systems EFMD offers four accreditation systems, all of which have the major objective of helping institutions to improve either across all their activities or in specific areas.

– EQUIS – whole-school assessment against a set of international standards for the full range of a school’s activities

dies | Recognise that organisational culture is key as enhancement not control students. Consider. Act. Respond

– EPAS – assessment of one or two specific programmes or sets of programmes against standards that include those for quality assurance – CEL – assessment of non-degree programmes offered primarily through technology enhanced learning

ulture: pervasive but invisible

– CLIP – assessment of corporate universities or equivalent EQUIS has not previously set explicit standards for quality assurance but these are included in the new Standards and Criteria document that came into force in 2007. EPAS is designed to review QA mechanisms as shown in the EPAS Value Chain model (Figure 3) which underpins all the EPAS Standards and Criteria. Basically, QA mechanisms should pervade all the stages of programme design, delivery, outputs and review but without being too heavy handed. A number of key QA issues arise in each phase.

Programme design Programme initiation: A programme will often be initiated by a faculty member with a particular interest in the subject area but it is unwise to let that one person design and run the programme. Apart from the “falling under a bus” syndrome, programmes based on “bees in bonnets” can often look peculiar when viewed from outside and may not have a real market or may not produce employable graduates.

Programme design process: A wide range of stakeholder views should

be brought into the design process. Stakeholders include faculty members, potential students (market research), potential employers, and the parent school and university. A robust process for gathering those views and debating how they should be translated into a sound academic programme probably needs some form of formal programme committee, which should also be tasked with overseeing the running of the programme and its reviews.

Aims and learning outcomes: There should be clearly stated aims and intended learning outcomes (ILO) for the programme that state who it is for and what the graduates will know and be able to do at the end of it. These become the basis for quality assurance of the delivery and the outputs of the programme. Initially they are the basis for the design of the curriculum and assessment processes.

Programme approval: Programmes should have to be approved not only by the programme committee but also further up the organisational framework. This is to ensure that the programme fits with the school’s strategy and programme portfolio, that it is seen to be academically rigorous, that there is likely to be a market both among students and employers, and that there are sufficient resources to market and run the programme. In some institutions and countries, approvals have to be obtained at university and state level as well.

Programme changes: After periodic review, programmes will need some form of changes, major or minor, which will usually be undertaken by the programme committee. However, major changes should also be approved at a higher level.

Programme delivery Student quality: The quality of the student intake should match the target market and be able to achieve the ILO for the programme, which in turn means that they should meet employers’ expectations.

Teaching quality: Teaching should be evaluated not only by students but also by some programme management oversight, which may

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

Accreditation and quality influences Programmespecific accreditation EPAS European/Global any business and mgnt possible

EPAS Criteria Institutional, National and International Context National HE System, regulatory and framework European HE Area (Bologna) – when applicable Institutional context and objectives Programmes to be assessed Teaching faculty, resources and facilities

International whole school accreditation EQUIS European/Global Holistic, covering all school’s activities

AACSB US/Global Programme focus but covering all business and management in whole institution

FjVa^in hnhiZbh Yd cdi ]VkZ id WZ Wdg^c\an WjgZVjXgVi^X Wji i]Zn Yd ]VkZ id ]VkZ V YZ\gZZ d[ [dgbVa^in id WZ XgZY^WaZ VcY Z[[ZXi^kZ AMBA UK/Global MBA and PEMM

Institution

Business School

Professional UK/Global eg: CIPD, accw, CMI, BSI etc

Programme / Module Review / Evaluate

University Subject review Programme validation and review

UK regulatory quality assurance HEFEC Research Assessment Exercise

eV\Zh (&U('

GkWb_jo WiikhWdY[ ioij[ci Wn 8]g^h <gZZchiZY

QAA HEA Institutional audit National Student Survey DATS to 2005

Current position Key indicators

Action required

Programme Design

Programme Delivery

Programme Outcomes

Programme objectives

Student entry requirements and selection methods

Assessment output

Target market and intended graduate profile Marketing and promotion Intended learning outcomes

Processes, produ and roles, to reac the next level

Graduate quality

Pedagogical methods

Career / jobs

Quality of pedagogy and learning materials

Reputation

Alumni

Personal development inc. work based learning

Programme coverage and content

International opportunities

Delivery modes

Corporate interaction

Assessment methods

Change managem

Building a quality culture in teachin and learning

Quality Assurance Processes

<_]kh[ )0 :E6H KVajZ 8]V^c BdYZa# FJ7:

Learning from EPAS reviews Over the past two years of reviewing 15 programmes, the good programmes have generally shown the characteristics discussed above.

Assessment quality: While faculty members are capable of setting However, less good and failing programmes demonstrated the reverse assessments of an appropriate standard, it is necessary to have some of those characteristics. One generally observed problem area has management oversight to ensure consistency of standards and to either been that programmes have been weak in the internationalisation of agree planned overlap or to remove duplication. Furthermore there the student learning experience. The other problem areas have been On embedding good practice Study of QM processes available | Findings from survey of academic staff | Case studies | Recognise that organisational cult should be some oversight of the marking or grading process to ensure Overcoming barriers to quality management processes Study of QM processes actually used | Findings from in-depth interviews with deans | Sell quality as enhancement not control more systemic and could have been resolved by having formal quality involvement in quality management Methods for listening and responding to ‘student voice’ | Diagnostic tools | EFQM and alternatives | Listen to students.

Consider. Act. Respond consistency and fairness. This might meanStudent some random sample Module evaluation & feedback Modulesecond evaluation policies & practices | Survey of student views on feedback methods | Use of WebCT to gather feedback | Database of evaluation formsassurance | systems. This leads to three main recommendations from Students’ views are a vital ingredient effective marking or even, as in the UK, total blind double marking and forthe use module evaluation Integrating quality management with teaching National bodies’ views about QME | High-engagement the EPAS learning to date: learning | Inspirational games | QM information architecture | Wharton’s method | of external examiners. The assessments should test whether the programme Make tools and reports to challenge and inspire educators Improving student support Quality self-diagnostic tool | Findings from survey of school administrators | Case studies | Make student support part of the culture: pervasive but invisible a formal aims and ILO have been achieved.

– Implement The QuBE knowledge base Quality briefi ngs | Research reports | Thinkpieces | Online library QA process involve peer observations, staff-student forums and individual discussion with faculty.

Programme outputs Student work quality: A formal QA system for the assessment process should ensure that the quality of student work is appropriate to the level of the degree and that the ILO are met. The quality of projects or theses can be an issue here. An examination board should be established to manage the process of deciding progression from one degree stage/year to another and for the degree award. This allows for transparency and can take care of special circumstances.

Programme review Annual review: All programmes should go through some form of annual review overseen by the programme committee. This enables small changes to be made for continual improvement of the programme.

Periodic review: Programmes should also be subject to major review involving all stakeholders on a periodic basis (say five years). This will ensure that the programme stays relevant to those stakeholders and that major changes in the environment are reflected in the programme design. Major changes should undergo a higher-level approval process.

Such reviews should also allow for the fact that the programme may be no longer viable or relevant to the stakeholders and should be removed from the school’s portfolio.

– Establish Programme Committees responsible for the initial design and operation of the programmes – Establish a higher-level board to approve the design and any major changes and to monitor the operations including periodic reviews.

Conclusions Quality systems do not have to be boringly bureaucratic but they do have to have a degree of formality to be credible and effective. However they should have a light touch (with sanctions!).

Quality systems have to be promoted and supported by senior management.

External review and accreditation can identify unpalatable truths and provide a catalyst for change as well as a lever for action.

Working in a business school that is recognised as of high quality is morale boosting and satisfying to all.

78EKJ J>; 7KJ>EH

8]g^h <gZZchiZY ^h 6hhdX^ViZ 9^gZXidg! :;B9 FjVa^in HZgk^XZh! VcY :bZg^ijh Egd[Zhhdg Vi i]Z Jc^kZgh^in d[ Eanbdji]! J@

IV `^ c\ i] Z aZ VY

: M"J I6 H @: C6 ;D C D KN G K E I 8 : >A D G G D E :6 6H I A I 6C =: : >K EG 9 I 69 : A :H 6 6A :G :6 >9 86 @H H= 9 :C 9 I >E :GH I :B D I = 6C >8 =; G >E 9 ?

EH 6>C ! D 8: D= =; >C C: D D C G 8 < > D; ; G ?9 CH I I= N6 A; I =: : C HI >IJ L 8: =6 J7 I>D DG CI H << C A9 :G ;# H# ÉH

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

JWa_d] j^[ b[WZ0 @e^d HoWd ?dj[hl_[m Wn <Zdg\Z 7^X`ZghiV[[Z

eV\Zh ((U()

:[[ZXi^kZ aZVYZgh]^e ^ckdakZh Vi aZVhi i]gZZ `Zn XdbedcZcih/ hZii^c\ Y^gZXi^dc! XgZVi^c\ Va^\cbZci VcY \V^c^c\ Xdbb^ibZci

?d]c GnVc VWdkZ idd` dkZg Vh ]ZVY d[ i]Z 8ZciZg [dg 8gZVi^kZ AZVYZgh]^e ^c hjbbZg '%%, ]Z hZgkZY dc i]Z 88A WdVgY [gdb '%%' # 7Z[dgZ i]Vi! [gdb '%%* ]Z lVh 8]VcXZaadg d[ i]Z HiViZ Jc^kZgh^in d[ CZl Ndg` HJCN ! i]Z aVg\Zhi XdbegZ]Zch^kZ hnhiZb d[ ]^\]Zg ZYjXVi^dc ^c 6bZg^XV l^i] +) XVbejhZh! dkZg -%!%%% [VXjain VcY hiV[[! VcY bdgZ i]Vc )%%!%%% hijYZcih#

Previously, Ryan, a former US Navy pilot and Vice Admiral, served for seven years as president of three different institutions of higher education: the State University of New York Maritime College; interim president of the University at Albany, a doctoral institution with 17,000 students where he famously lived in the student dormitory during his presidency and donated the first three months of his salary for student scholarships at Maritime and Albany; and the US Naval Academy in Annapolis.

Ryan graduated from Annapolis in June 1967 with his twin brother Norbert Ryan Jr, also a former Vice Admiral. He received a Master of Science in Administration from George Washington University in 1975.

The Center for Creative Leadership was begun in 1970 by H Smith Richardson Sr, founder of the Vick Chemical Co, and the Smith Richardson Foundation Inc provided its initial financial underpinning. The Foundation — and several generations of the Richardson family — have remained generous supporters of CCL’s work, which aims at promoting leadership through courses and programmes for individuals and organisations as well as research and publications dedicated to leadership issues.

CCL’s European headquarters is in Brussels under the leadership of Rudi Plettinx. =dl ldjaY ndj YZÒcZ ÆaZVYZgh]^eÇ4 6cY l]n ^h ^i ^bedgiVci4

I think effective leadership involves at least three key components: setting direction, creating alignment and gaining commitment. It’s important that leaders set a direction and then encourage people to follow in that direction. The best people do it well and others not so well.

What people most want in a leader is someone who is authentic, who they can trust.

People now are educated, intelligent and well read and they see through people who are maybe not as genuine as they should be. Authentic leaders start with the courage of their convictions – they’re not holding polls or taking surveys. They obviously listen to people’s views and integrate them but they also have to set the vision and the direction.

They have to understand what direction their particular organisation needs to go in. >h ÆXgZVi^kZÇ aZVYZgh]^e Y^[[ZgZci4

Creative leadership involves people thinking beyond the boundaries that limit individuals and organisations and if you think about that it extends beyond the typical skills that are associated with routine leadership. Business schools teach people how to analyse data, coach employees, run projects and so on but at CCL we try to go beyond that and teach people to be innovative. And we do that through three elements: assessment, challenge and support. The unique thing about CCL is that we have been doing that since we were founded in 1970; we have been focussed on it for the last 37 years.

L]Vi ^h i]Z i]^c`^c\ VcY Zbe]Vh^h WZ]^cY ndjg cZl ^c^i^Vi^kZ! 6YkVcX^c\ <adWVa AZVYZgh]^e4

People who are involved in global leadership positions are today facing greater complexity in their roles, whether it’s at the mid-level or higher in their organisations.

And they need to be able accurately to perceive new situations they face, culturally as well as organisationally, with the people they interact with, and they have to adapt their leadership style accordingly.

Id WZ V \ddY aZVYZg ndj ]VkZ id Xdbb^i id ^i! egVXi^hZ ^i! lVci id Yd ^i! gZVY VWdji ^i! add` [dg V bZcidg dg V XdVX]! \d id V egd\gVbbZ a^`Z 88A VcY i]Zc egVXi^hZ i]dhZ h`^aah# 7Z]Vk^djgh VgZ kZgn ^bedgiVci ^c WZXdb^c\ V aZVYZg

What we’re trying to do with Advancing Global Leadership is a three-phase approach.

Every AGL session involves participants in three locations: Brussels, Singapore and America. Prior to the programme, participants complete a set of assessments and will work on an assignment with their cross-continent learning partners. Everyone will leave with an action plan for addressing his or her global leadership challenge and will have the opportunity to continue working with a coach to apply what he or she has learned.

L]Vi Yd ndj i]^c` i]Z egd\gVbbZÉh ^beVXi l^aa WZ4

We were very encouraged. We’ve just finished our first AGL and there were 40 people involved globally with about15 in both Brussels and Singapore and it was a great exercise.

We really opened up the eyes and imaginations of people who were managing the tensions and opportunities between headquarters and local needs.

It’s the type of thing that happens every day around the world. What we’re trying to do is help men and women prepare for those kinds of opportunities. You know as well as I that both in Europe and America, and to a lesser extent in Asia, that whether we call it right-sizing, down-sizing or up-sizing we have taken away a lot of the middlemanagement opportunities in organisations where people could grow and develop these kind of skills as a leader. And so as we get ready to lose my generation of baby boomers we have another generation that needs experience that it cannot now get in the workplace and so we are offering it through the AGL. >h \adWVa^hVi^dc XgZVi^c\ V cZZY [dg V Y^[[ZgZci hZi d[ aZVYZgh]^e h`^aah! V Y^[[ZgZci hdgi d[ aZVYZg4

Yes. This is my third career. I was in the military, then ten years in academia and now in a not-for-profit organisation. All of them had many overseas challenges for me.

I would say that leaders today have to be, number one, more self-aware, number two more culturally aware and number three be able to learn on the job, be continuous learners. And that’s ever-more true in this global society we are all part of.

9d ndj WZa^ZkZ i]Vi Wjh^cZhh iV`Zh aZVYZgh]^e hZg^djhan Zcdj\]4

Only the best businesses. Let me put it this way. One of my mentors and heroes was

(, J^[ dkcX[h e\ o[Whi 99B ^Wi X[[d \eYkii[Z ed _ddelWj_l[ WdZ Yh[Wj_l[ b[WZ[hi^_f

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

JWa_d] j^[ b[WZ0 @e^d HoWd ?dj[hl_[m Wn <Zdg\Z 7^X`ZghiV[[Z

eV\Zh (*U(+

Peter Drucker. He used to say that a leader has three responsibilities.

First, he or she is responsible for direct results. I don’t think there are many business people who don’t understand that.

Where they fall down is in the second two things that Peter always talked about. He said that leaders are responsible for enhancing and sustaining the culture they are part of. And the third thing, which I think is becoming more and more important, is what we call talent management. All of us have to be on the look-out for new talent. And it’s not just about finding the right men and women for your organisation – it’s about keeping those you already have.

Ndj ]VkZ WZZc EgZh^YZci VcY 8:D d[ 88A [dg V gZaVi^kZan h]dgi i^bZ# L]Vi eaVch Yd ndj ]VkZ id ^cXgZVhZ ^ih ^cÓjZcXZ VcY Z[[ZXi^kZcZhh4

We will be concentrating on two broad areas. First, I think we are the best in the world on individual leadership development. We have some great programmes and we are going to continue those. The other area we are moving onto is more customised programmes and what I would call corporate leadership development. There I think we will focus on three broad areas: strategic planning, corporate culture, and talent management and “sustainment”, a term that encompasses not only talent recruitment and development but also retaining talent for the long term.

We also want to be more international than we are. Last year we had 21,000 individual leaders we worked with and over 3,000 organisations in about 120 different countries. But a particular focus for us now is expanding our operations in Europe and Asia. One of my mandates from my board of governors is to touch more lives globally. We have been nominally a global organisation but in my opinion in the past we have been too focussed on North America and that’s not the way ahead for us.

Ndj eZghdcVaan ]VkZ V b^a^iVgn WVX`\gdjcY# >h i]Vi Vc ^bedgiVci ^cÓjZcXZ ^c ndjg dlc XdcXZei^dc d[ aZVYZgh VcY aZVYZgh]^e4

I think the military is just another opportunity for leadership – though it probably comes at an earlier age. I graduated from Annapolis as a pilot and I was leading 50 people basically as soon as I was out of school. But in the military you also learn how to be a follower. And I think you are more sensitive and aware as a leader if you have been a follower – you know what it’s like to take orders or to have someone else directing the action.

I don’t think military leadership is different to business leadership. But when you’re in a combat situation or you are away from your family for six months I think that gives you a different perspective on perseverance or what real adversity is. But you don’t need to be a military person to be a great leader; there are plenty of military people who are lousy leaders.

Ndj YZhXg^WZ aZVYZgh]^e ediZci^Va Vh V ÆbjhXaZÇ i]Vi cZZYh ZmZgX^hZ id YZkZade# L]Vi ^h i]Z WZhi hdgi d[ ZmZgX^hZ4

First of all, you have to commit to it. You can’t be a leader if you’re not going to work at it, practise it. You don’t become a good football player unless you practise and you don’t become a good leader unless you practise. The best way to become a leader is to want to do it, to read

about it, look for a mentor or a coach, go to a programme like CCL and then practise those skills. Behaviours are very important in becoming a leader.

Ndj ]VkZ ^YZci^ÒZY 8da^c EdlZaa Vh V \gZVi aZVYZg ^c bdYZgc i^bZh# L]d Yd ndj i]^c` ^h i]Z \gZViZhi ^c ]^hidgn4

It’s a bit North American-centric but to me two people stand out.

One is Abraham Lincoln. He was a man who was capable of bringing into his cabinet people who had absolutely opposed him before, who said he wasn’t fit to be President even. I admire him because he did his homework, he led by example, and he had great character.

Then there is a woman who you don’t often hear talked about as heroic or a great leader and that’s Eleanor Roosevelt. She was born into a wealthy family but was orphaned when she was ten and had a terrible childhood. She became the person who really started the Civil Rights movement and the women’s rights movement. She had tremendous compassion for the poor and she helped the entire world. She was chair of the UN committee that drafted the Universal Declaration of Human Rights. What I really admire is that she didn’t take opinion polls to see what people thought about there, she just did what she thought was right.

6C9:GH 6HEA>C< 6C9 B6G@ 9G:L:AA G:EDGI DC ILD N:6GH D; I=: <AD76AAN G:HEDCH>7A: A:69:GH=>E >C>I>6I>K:

6 aZVY^c\ [dgXZ

I]Z <adWVaan GZhedch^WaZ AZVYZgh]^e >c^i^Vi^kZ <GA> ]Vh cdl WZZc je VcY gjcc^c\ [dg ild nZVgh# I]Z aVhi <ZcZgVa BZZi^c\ Vi FjZZcÉh HX]dda d[ 7jh^cZhh ^c 8VcVYV lVh [jgi]Zg egdd[ d[ <GA> WZ^c\ V jc^fjZ VcY VXi^dc"WVhZY \adWVa Xdbbjc^in Yg^kZc Wn YZY^XViZY ^cY^k^YjVah VcY Xdbb^iiZY dg\Vc^hVi^dch#

Previous General Assemblies have been held at INSEAD, CEIBS and Leeds Metropolitan University/Oasis School of Human Relations. These meetings of the whole community are arranged twice a year and they are a follow-up and review of all ongoing activities, an introduction of new partners and a start-up of new actions, an opportunity for the hosts to highlight their engagement and work on corporate global responsibility and globally responsible leadership, and a forum where all partners learn from the hosts and the specific context, experience and environment they represent.

After the two first years of its “Call for Engagement”, the GRLI community can celebrate being a globally recognised productive and influential force regarding the development of global responsibility.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

7 b[WZ_d] \ehY[ Wn 6cYZgh 6hea^c\

eV\Zh (,U(-

7dm & Eg^cX^eaZh [dg GZhedch^WaZ BVcV\ZbZci :YjXVi^dc EGB:

GRLI achievements so far include: Advocacy The GRLI is now recognised as a vanguard group leading change for a globally responsible society by its focus on what we can and must do to develop a generation of globally responsible leaders.

It has been a catalyst for the recent initiative by the UN Global Compact on Principles for Responsible Management Education (PRME) (see Box 1) and it is today invited to and actively participates in major events, conferences and high-level gatherings around the world.

It is engaged in developing a reporting system on Global Responsibility for learning organisations.

Foundation GRLI has this year stabilised its unique governance structure by creating a foundation. The foundation secures its independence, transparency and provides clear roles for all partners.

Research platform GRLI has from the start had a focus on concept development. In the “Call for Engagement” there is a presentation of a new purpose for the corporation. Currently, work is proceeding regarding the future of management education – “Reframing the Purpose of Management Education and Development”.

In parallel, other research initiatives have been taken. The Center for Creative Leadership (CCL) (see page 22) is, for example, leading a large international project on globally responsible leadership. Other clusters within the community are planning further action research.

Publications The report A Call for Engagement is available in four languages – English, Chinese, Spanish and Portuguese – from the website www.efmd.org/grli. In relation to this first report many publications have been produced. Two books stand out: Should Prometheus be Bound? Corporate Global Responsibility (Palgrave McMillan, 2005) by Philippe de Woot, and Learning for Tomorrow. Whole Person Learning (Oasis Press, 2007) by Bryce Taylor. Moreover, many published articles in renowned journals either come out of or are linked to the GRLI work.

The next major publications will be Reframing the Purpose of Management Education and Development and Shared Experiences & Achievements – Tales on GRL. Momentum GRLI is steadily growing and receives regular applications for partnership.

Being a unique and leading community of action, it will limit its size. The current number of partners –around 60 – will increase to a maximum of 120 in order to maintain efficiency, effectiveness, tightness and the unique format for boosting

Eg^cX^eaZ &# EjgedhZ/ LZ l^aa YZkZade i]Z XVeVW^a^i^Zh d[ hijYZcih id WZ [jijgZ \ZcZgVidgh d[ hjhiV^cVWaZ kVajZ [dg Wjh^cZhh VcY hdX^Zin Vi aVg\Z VcY id ldg` [dg Vc ^cXajh^kZ VcY hjhiV^cVWaZ \adWVa ZXdcdbn# Eg^cX^eaZ '# KVajZh/ LZ l^aa ^cXdgedgViZ ^cid djg VXVYZb^X VXi^k^i^Zh VcY Xjgg^XjaV i]Z kVajZh d[ \adWVa hdX^Va gZhedch^W^a^in Vh edgigVnZY ^c ^ciZgcVi^dcVa ^c^i^Vi^kZh hjX] Vh i]Z Jc^iZY CVi^dch <adWVa 8dbeVXi# Eg^cX^eaZ (# BZi]dY/ LZ l^aa XgZViZ ZYjXVi^dcVa [gVbZldg`h! bViZg^Vah! egdXZhhZh VcY Zck^gdcbZcih i]Vi ZcVWaZ Z[[ZXi^kZ aZVgc^c\ ZmeZg^ZcXZh [dg gZhedch^WaZ aZVYZgh]^e# Eg^cX^eaZ )# GZhZVgX]/ LZ l^aa Zc\V\Z ^c XdcXZeijVa VcY Zbe^g^XVa gZhZVgX] i]Vi VYkVcXZh djg jcYZghiVcY^c\ VWdji i]Z gdaZ! YncVb^Xh! VcY ^beVXi d[ XdgedgVi^dch ^c i]Z XgZVi^dc d[ hjhiV^cVWaZ hdX^Va! Zck^gdcbZciVa VcY ZXdcdb^X kVajZ# Eg^cX^eaZ *# EVgicZgh]^e/ LZ l^aa ^ciZgVXi l^i] bVcV\Zgh d[ Wjh^cZhh XdgedgVi^dch id ZmiZcY djg `cdlaZY\Z d[ i]Z^g X]VaaZc\Zh ^c bZZi^c\ hdX^Va VcY Zck^gdcbZciVa gZhedch^W^a^i^Zh VcY id ZmeadgZ _d^cian Z[[ZXi^kZ VeegdVX]Zh id bZZi^c\ i]ZhZ X]VaaZc\Zh# Eg^cX^eaZ +# 9^Vad\jZ/ LZ l^aa [VX^a^iViZ VcY hjeedgi Y^Vad\jZ VcY YZWViZ Vbdc\ ZYjXVidgh!

Wjh^cZhh! \dkZgcbZci! XdchjbZgh! bZY^V! X^k^a hdX^Zin dg\Vc^hVi^dch VcY di]Zg ^ciZgZhiZY \gdjeh VcY hiV`Z]daYZgh dc Xg^i^XVa ^hhjZh gZaViZY id \adWVa hdX^Va gZhedch^W^a^in VcY hjhiV^cVW^a^in# lll#jc\X#dg\

7dZ[hi 7ifb_d]

7dm ' <GA> >chi^iji^dcVa eVgicZgh 6gXVcYdg 6< <ZgbVcn 6h^Vc >chi^ijiZ d[ BVcV\ZbZci q 6>B I]Z E]^a^ee^cZh 6k^kV eaX J@ 6jYZcX^V CVciZh :XdaZ YZ BVcV\ZbZci ;gVcXZ 6KI >chi^ijiZ d[ :mZXji^kZ :YjXVi^dc 6$H 9ZcbVg` 7VWhdc 8daaZ\Z JH6 7VgadldgaY A^b^iZY Hdji] 6[g^XV 7:B Ă&#x201E; 7dgYZVjm HX]dda d[ BVcV\ZbZci ;gVcXZ 8V^hhZ YĂ&#x2030;:eVg\cZ 6fj^iV^cZ CdgY ;gVcXZ 8ZciZg [dg 8gZVi^kZ AZVYZgh]^e q 88A JH6 7Za\^jb 8]^cV :jgdeZ >ciZgcVi^dcVa 7jh^cZhh HX]dda q 8:>7H 8]^cV :;B9 :HH:8 7jh^cZhh HX]dda ;gVcXZ ;jcYVÂ d 9db 8VWgVa 7gVo^a <aVmdHb^i]@a^cZ 7^dad\^XVah H6 7Za\^jb <adWVa 8dbeVXi <g^[Ă&#x2019;i] Jc^kZgh^in 7jh^cZhh HX]dda 6jhigVa^V <gdjeZ :H8 GdjZc ;gVcXZ

engagement and producing action. Box 2 (right) lists the current partners of the GRLI. Uniqueness Three main dimensions characterise the uniqueness of the GRLI â&#x20AC;&#x201C; Its fully global representation and outreach; including diversity of all kinds â&#x20AC;&#x201C; Its combination of different organisations â&#x20AC;&#x201C; mainly businesses and learning institutions; it is fundamentally driven by the challenges and dilemmas of the business community â&#x20AC;&#x201C; Its entrepreneurial action orientation; think big, act small, start now

>6< AdjkV^c HX]dda d[ BVcV\ZbZci 7Za\^jb >7B >:H: 7jh^cZhh HX]dda HeV^c >CH:69 ;gVcXZ >:H:< HX]dda d[ BVcV\ZbZci ;gVcXZ >chi^ijid YZ :begZhV HeV^c AV[Vg\Z 8^bZcih ;gVcXZ AVIgdWZ Jc^kZgh^in 6jhigVa^V AZZYh BZigdeda^iVc Jc^kZgh^in J@ AdcYdc 7jh^cZhh HX]dda J@ BVXfjVg^Z <gVYjViZ HX]dda d[ BVcV\ZbZci 6jhigVa^V

We have recently returned from an intensive 24-hour workshop with the executive management of Petrobras in Brazil. GRLI, in collaboration with Petrobrasâ&#x20AC;&#x2122; partner Fundação Dom Cabral, has started a process where this important international company aims at integrating the concept of globally responsible leadership into its overall management training.

BZaWdjgcZ 7jh^cZhh HX]dda 6jhigVa^V

Global responsibility is already a key pillar in the Petrobras business strategy and JosĂŠ Sergio Gabrielli de Azevedo, President of Petrobras and Deputy Chairman of the UN Global Compact, has personally taken the initiative to define the globally responsible leadership concept in the context of Petrobras and to develop a methodology for new leadership within the corporate group.

FjZZcĂ&#x2030;h Jc^kZgh^in HX]dda d[ 7jh^cZhh 8VcVYV

The next General Assembly will be held in Mumbai, India, where we will be welcomed

by Welingkar Institute of Management Development and Research in April 2008.

Our Indian colleague, representing a country where the conditions are ripe for sustained growth, says: â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s now time to look up at the sky and time to fly! Itâ&#x20AC;&#x2122;s the right time for the GRLI movement to hoist its banner in the worldâ&#x20AC;&#x2122;s largest democracyâ&#x20AC;?.

The GRLI started with a vision of a vibrant global force. It has now become a reality through the multiple ongoing individual and collective actions on the ground by all the GRLI partners.

BZggnX` 8d J@ CVi^dcVa 6jhigVa^V 7Vc` 6jhigVa^V Cdgi]Zgc >chi^ijiZ d[ IZX]cdad\n =VbWjg\ <ZgbVcn EZeeZgY^cZ Jc^kZgh^in Ă&#x201E; <gVo^VY^d HX]dda d[ 7jh^cZhh VcY BVcV\ZbZci JH6 EZigÂ&#x2039;aZd 7gVh^aZ^gd H$6 q E:IGD7G6H 7gVo^a GZhedch^WaZ 7jh^cZhh >c^i^Vi^kZh q G7> EV`^hiVc HX]cZ^YZg :aZXig^X ;gVcXZ H]V`Vg<Vc_ B^aah EV`^hiVc HiZaaZcWdhX] 7jh^cZhh HX]dda Hdji] 6[g^XV Hi# EZiZghWjg\ HiViZ Jc^kZgh^in <gVYjViZ HX]dda d[ 7jh^cZhh Gjhh^V HjcaVcY <gdje AiY 6jhigVa^V I]Z ;dgZH^\]i <gdje HlZYZc I]Z DVh^h HX]dda d[ =jbVc GZaVi^dch J@ DJ 7jh^cZhh HX]dda J@ Jc^iZY AVWdgVidg^Zh I]Z E]^a^ee^cZh Jc^kZgh^YVY YZa EVXÂ&#x2020;Ă&#x2019;Xd EZgj Jc^kZgh^in d[ BVcV\ZbZci VcY IZX]cdad\n q JBI EV`^hiVc Jc^kZgh^in d[ BVcc]Z^b <ZgbVcn Jc^kZgh^in d[ CdigZ 9VbZ Ă&#x201E; BZcYdoV HX]dda d[ 7jh^cZhh JH6 Jc^kZgh^in d[ Hdji] 6[g^XV Ă&#x201E; 8ZcigZ [dg 8dgedgViZ 8^i^oZch]^e Hdji] 6[g^XV

78EKJ J>; 7KJ>EHI

6cYZgh 6hea^c\ ^h HZXgZiVgn"<ZcZgVa d[ i]Z <GA> VcY 9ZVc! KaZg^X` AZjkZc <Zci BVcV\ZbZci HX]dda! 7Za\^jb# BVg` 9gZlZaa ^h i]Z 8]V^g d[ i]Z <GA> 7dVgY#

LV`Z ;dgZhi Jc^kZgh^in Ă&#x201E; 7VWXdX` <gVYjViZ HX]dda d[ BVcV\ZbZci JH6 LZa^c\`Vg >chi^ijiZ d[ BVcV\ZbZci 9ZkZadebZci GZhZVgX] >cY^V

eV\Zh (.U(/

15:49

Page 1

STUDENTS: TAKE PART IN THE EUROPEAN YOUNG ENTREPRENEURS AWARDS INNOVACT 2008 For 6 years, with the support of the European Commission, the European Young Entrepreneurs Awards reward the most interesting business projects carried out by students or young researchers.

Again this year, a panel of professionals (head of firms, journalists, scientists…), will single out the candidates who have demonstrated both imagination and creativity in their approach, whatever the product or activity. All students can take part in the competition, individually or as a team, whether in the framework of their institution or not.

The project can be in conception phase, in-progress or already launched.

Please return the application form at the latest Friday 1st February 2008 NEW THIS YEAR !

So as to help the candidates in the development of their project, thirty European finalists will be invited to participate free of charge (travel, accommodation) in the 12th edition of the European Forum for Innovating Young Enterprise (Innovact 2008, 18th and 19th March 2008, in Reims - France). There, they will meet 4 000 professionals from 20 different countries, as well as 200 European innovating young companies.

The prize winners will receive financial allocations up to 3 000 euros and will benefit from an information campaign.

The Awards ceremony will be held in the frame of Innovact on 18th March 2008.

Application form is available on the Internet www.letudiant.fr, www.innovact.com or www.lors.fr Contact - Amandine Bebi, amandine.bebi@aef.info List of prize winners 2006 1st Prize - CLÉMENT FOREST AND ALEXANDRE HOSTELLER – FRANCE, ECOLE POLYTECHNIQUE, AND CANCER RESEARCH INSTITUTE, STRASBURG. ECHOGRAPHY SIMULATOR FOR ECHO-GUIDED TREATMENTS. 2nd Prize - SYMONS GERHARD - ENGLAND, CAMBRIDGE UNIVERSITY. CAMSTENT BUSINESS CREATED FOR THE IMPROVEMENT OF CORONARY ARTERY "STENTS" THANKS TO A NEW BIO-REPELLENT BIO-POLYMER DESIGNED TO PREVENT THROMBOSES AND SAVE LIVES. 3rd Prize - NICO VELOOP - HOLLAND, EINDHOVEN UNIVERSITY OF TECHNOLOGY. VALIDUS PROJECT TO COMBAT COUNTERFEITING OF MEDICINES.

Call for candidates

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

T.inno08_AC_GB_175x240 23/10/07

J;7 F;JH?D DJIA>C:H L=N ;DHI:G>C< :CIG:EG:C:JGH=>E >H I=: @:N ID B6>CI6>C>C< 6C9 9:K:ADE>C< 8DBE:I>I>K:C:HH L>I=>C :JGDE:

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

;djh[fh[d[khi^_f WdZ ;khef[Wd ]hemj^ Wn IZV EZig^c

L]Vi XVc WZ VcY h]djaY WZ YdcZ ^c dgYZg id hi^bjaViZ eZdeaZ id i]^c` ZcigZegZcZjg^Vaan! VcY Vahd id Zc\V\Z i]ZbhZakZh ^c ZcigZegZcZjg^Va VXi^k^i^Zh ^h V fjZhi^dc i]Vi ]Vh WZZc ^c i]Z XZciZg d[ bn egd[Zhh^dcVa ^ciZgZhi Vh lZaa Vh egVXi^XZ [dg bVcn nZVgh0 VXijVaan [dg bdgZ i]Vc '% nZVgh! [gdb i]Z i^bZ > k^h^iZY 8V_V AVWdgVa! V hnhiZb d[ Xd"deZgVi^kZh! ^c BdcYgV\dc ^c HeV^c.

To cope with these challenges, the Lisbon strategy was drawn up and concrete measures for putting the strategy into action were defined. The development of entrepreneurship was defined as one of the key instruments of that strategy to rejuvenate European innovation and competitiveness.

Together with my colleagues I was very impressed by the business success of Mondragon, which, according to our host, was due to an environment that was conducive to entrepreneurship and which had attracted many entrepreneurs to set up their businesses in Mondragon.

A little surprised I could not but ask: “If this is so, how can one find an entrepreneur”? His answer was: “If I knew how, I would be the richest man in the world”.

Entrepreneurship is attracting the interest of European policy makers and the development of national entrepreneurial potential has become an important educational and research topic.

Why are European policy makers interested in entrepreneurship? The answer is well known. In the present environment, characterised by rapid economic change and intensified competition internally and externally, firms all over the world are under constant pressure to attain and sustain their competitive advantage.

The strengthening of European competitiveness is our common challenge, particularly as competitive pressure is coming not only from America, our traditional competitor, but also from fast-growing countries such as China, India, Brazil and the like.

Entrepreneurship is a driving force of economic restructuring. It moves away from the production of old products and services with low value-added, obsolete technology and obsolete organisational capabilities and is the vehicle for the transformation of existing enterprises and the development of new ones. It is a driving force of innovation, competitiveness and growth. As such it also drives a nation towards the achievement of high quality of life and social prosperity.

When discussing the importance of entrepreneurship for economic growth, it is important to stress that entrepreneurship as a factor of growth goes well beyond the notion of an entrepreneur as a lone player.

Building up competitive advantage and maintaining sustainable high growth will depend on how much national intellectual energy and physical resources a country will be able to allocate to the creation of highquality enterprises whose competitive advantage will be based on up-to-date technological, organisational and managerial knowledge.

eV\Zh )&U)'

Here, the availability of entrepreneurs to bring these capabilities together is of the utmost importance. Therefore, the efficiency of the market in solving allocation problems is obviously tied to individuals’ capabilities.

The challenge is the development of a consultative relationship between universities, research institutions and industry. This means co-operation between education and training institutions, on one hand, and engineers and production managers on the other, leading to an increase in the stock of entrepreneurial knowledge.

This further creates the need for the development of institutions that will be able to stimulate continuous consultative relationship between buyers and sellers as well as institutions producing entrepreneurial knowledge.

Examples of such infrastructure are open networks, clusters, business and university incubators, centres of excellence, technology parks, and networks of venture capital, experimental laboratories and the like. The innovation process is interactive and complex. Technological advance is not a linear process of independent research activities.

Recognising the importance of entrepreneurship as one of the concrete measures for strengthening European competitiveness and thus the potential for growth, indicates that the view that entrepreneurship does matter to the improvement of the human condition has come of age.

Even mainstream economists are finally realising that it is absurd to talk about economic growth and not pay any attention to the people and institutions most responsible for growth: entrepreneurs.

However, mainstream economics has contributed very little to the understanding and explanation of the role of entrepreneurship in growth. It is a paradox that the academic study of entrepreneurship has not been developing mainly within the field of economics but by scholars in the fields of business and management and lately also in engineering and social science.

The prescriptions of mainstream economists for government intervention in order to facilitate growth have almost completely overlooked the role of entrepreneurs in this process and have therefore not considered any policy instruments to foster entrepreneurship.

As Stiglitz has noted in his book Wither Socialism? the best that countries can do is to experiment with various policy solutions and try to learn from best practices in other countries, though in different countries this may be achieved under different institutions and systems.

Therefore, the appropriate process of finding the optimal policies for maximum growth and entrepreneurial society is not to waste time on formal economic models of entrepreneurship and growth but to set up institutional conditions for policy experimentation.

Policy makers, even if they are highly trained economists, are not actually relying on economic growth models but are looking at the positive experiences of high-growth countries and are trying to adapt such experiences to their particular circumstances.

One of the recent studies commissioned by the European Commission gives examples of policies that were instrumental in bringing the competitiveness of certain regions within countries to a level higher than the overall competitiveness of a country and to a higher level than the overall competitiveness of the EU. The evidence suggests that the role of public policy has been subtle but critical for achieving fast growth and superior competitiveness. Examples of such regions are Oberbayern and Darmstadt, Germany; Eterea Ellada, Greece; Ile de France, France; and Niederoesterreich, Austria.

The policies provided infrastructure that supported business innovation and thus competitiveness and growth. This enabled firms to become successfully integrated into a global competitive environment and to be better equipped for harnessing human knowledge.

The key factors promoted by the policy can be grouped into the following categories: – Development of modern physical and telecommunication infrastructure – Development of dynamic entrepreneurship and strong entrepreneurial culture (a high level of firm creation) – Development of infrastructure supporting and stimulating a consultative relationship between universities, research institutions and industry and technology transfer in medium-sized and large companies – Development of an excellent research and higher-education institutional base, with emphasis on industrial collaboration (with well-organised networks, especially science-based ones, clusters in bio-technology, electronics and engineering, science research institutes, agencies and institutions supporting innovation) – Supporting the internationalisation of firms – opening up regions to competition across the single EU market, removing barriers to trade and entrepreneurship.

Because effective public policies stimulating competitiveness and growth combine knowledge from many different areas such as engineering, economics, sciences, law and so on in a pragmatic way, their effectiveness depends on a culture of trust.

Public policy cannot be developed in the absence of strong publicprivate partnership, which in turn cannot be developed without a culture of trust. Knowledge is most effectively used in a trusting environment. For example, clusters and networks could not flourish in a non-trusting environment. Trust is needed between partners, between employers and employees, between boards and shareholders, and between state and citizens.

Trust, as Jorma Ollila, Chairman of the Board of Royal Dutch Shell and Chairman of the Board of Nokia Corporation, said at the Innovation Lecture 2006 held in The Hague is “... a mother of entrepreneurship and a father of

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

;djh[fh[d[khi^_f WdZ ;khef[Wd ]hemj^ Wn IZV EZig^c

innovation. Trust, for instance, in the consistency of government policy, in the quality of legislation, in monetary policy, in open trading channels, and in a flexible labour market: in short, trust arrives from a scheme of things that is robust and predictable.”

Therefore, it is not surprising that entrepreneurs consider excessive regulation and unpredictable changes in regulation as one of the factors that most hinder entrepreneurship.

If I were to return to my question from more that 20 years ago about how can I find an entrepreneur I would today rephrase it as: “Can people be taught to become entrepreneurs?”

Entrepreneurship has become an important item in the curricula of most universities in Europe and entrepreneurial research is a growing academic field. Entrepreneurship education and research are seen as important means to foster entrepreneurial culture. And entrepreneurship education today goes beyond teaching from textbooks; it includes tools such as business plans, case studies, project work and so on.

Many practitioners are realising that teaching entrepreneurship by developing financial models, case studies and so on is not enough to contribute to the development of a dynamic entrepreneurial culture.

The reason is that the traditional ways of teaching are basically transforming one piece of codified information into another piece of codified information.

The opinion of David Birch, the well-known entrepreneurship scholar, is that business schools do not train students in three key business skills necessary for the development of a successful entrepreneur: “selling, managing people, and creating a new product or service”.

People do not really distinguish between being informed about something and being able to do it. Doing two case studies a day about how two different companies have been effectively managing people, does not qualify you as a person who can manage people.

In the search for the improvement of entrepreneurship teaching at the Faculty of Economics in Ljubljana, for example,

VeV\Zh )(U))

we started an important experimental project called the d.school (design school) involving a broad spectrum of higher education students in the process of getting acquainted with the concept of design thinking, a concept promoted and popularised by a group of Stanford University professors of various disciplines and by a number of leading entrepreneurial firms including SAP and Google.

Another example is from the Norwegian School of Economics.

Students from all academic disciplines are sent to enterprises in Singapore for apprenticeships. Another noted example is The Stanford Technology Ventures Program, which is dedicated to accelerating high-technology entrepreneurship research and education for engineers and scientists worldwide.

As much as these attempts sound “sexy” their popularisation will not be easy. Apprenticeship training requires very different physical resources in education, classrooms with prototyping equipment, places for team meetings, resources to meet at remote places and so forth. At most universities this would mean reallocation of resources from traditional modes of teaching to new approaches, which can lead to opposition due to vested interests.

To conclude, first, the design of a national policy promoting entrepreneurship demands a pragmatic approach, experimenting with various policies and learning and adapting best practices of high-growth countries to domestic circumstances.

Second, effective implementation of entrepreneurship policy demands a trustful environment and broad national consensus that competitiveness and entrepreneurship do matter.

And third, to be effective entrepreneurship education demands approaches that are best tailored to the nature of entrepreneurship.

I]ZgZ VgZ i]gZZ `Zn Wjh^cZhh h`^aah cZXZhhVgn [dg i]Z YZkZadebZci d[ V hjXXZhh[ja ZcigZegZcZjg/ hZaa^c\! bVcV\^c\ eZdeaZ! VcY XgZVi^c\ V cZl egdYjXi dg hZgk^XZ

78EKJ J>; 7KJ>EH

Egd[# 9g IZV EZig^c ^h 6bWVhhVYdg d[ HadkZc^V ^c I]Z CZi]ZgaVcYh! [dgbZg HadkZc^Vc B^c^hiZg d[ :Xdcdb^Xh! VcY V lZaa"`cdlc XdbbZciVidg dc ZcigZegZcZjgh]^e# I]^h Vgi^XaZ ^h Vc ZY^iZY kZgh^dc d[ V egZhZciVi^dc id i]Z :;B9 (,i] :cigZegZcZjgh]^e! >ccdkVi^dc VcY HbVaa 7jh^cZhh 8dc[ZgZcXZ '%%, ]ZaY ^c A_jWa_VcV! HadkZc^V! HZeiZbWZg '%%,

H?9>7H: IJH7K8 6G<J:H I=6I ÈDE:CC:HHÉ >H I=: 9:;>C>C< FJ6A>IN D; '&HI 8:CIJGN <AD76A>H6I>DC# 7JI =DL 86C 7JH>C:HH G:HEDC9 ID >I4

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

?i j^[ mehbZ ef[d5 Wn G^X]VgY HigVjW

Ndj bVn gZbZbWZg i]Z Y^hXjhh^dc VWdji Idb ;g^ZYbVcÉh Wdd` I]Z LdgaY ^h ;aVi&# ;g^ZYbVc Vg\jZh i]Vi iZX]cdad\n ]Vh XgZViZY V aZkZa eaVn^c\ ÒZaY [dg VXXZhh^c\ bVg`Zih! h`^aah VcY ZmeZgi^hZ VcY ^ciZ\gVi^c\ i]Zb l]ZgZkZg i]Zn b^\]i WZ# >ccdkVi^dc WZXdbZh VXXZhh^WaZ [dg Vaa/ Æ>c V ÓVi ldgaY ndj XVc ^ccdkViZ l^i]dji ]Vk^c\ id Zb^\gViZÇ# I]Z bZiVe]dg d[ i]Z ÆÓVi ldgaYÇ YgZl VXXaV^b Wji Vahd Xg^i^X^hb#

Richard Florida2 instead opposed the notion of “spikiness” to the assumed flatness of the world, suggesting that there were geographical points of concentration such as centres of innovation, of skills, patent filings and of energy consumption.

In short, he argues that location still matters.

These two different lenses for looking at our world and making sense of it as far as scenarios for economic and social development are concerned are both important and valuable.

eV\Zh )*U)+

I]Z ^YZV d[ ÈdeZccZhhÉ ^h ZbZg\^c\ Vh V Ydb^cVci Viig^WjiZ d[ `Zn YZkZadebZcih ^c djg ZXdcdb^X VcY hdX^Va [VWg^X

Yet I believe there is an additional perspective that we should not ignore. The idea of “openness” is emerging as a dominant attribute of key developments in our economic and social fabric. We talk about open societies, open innovation, open standards, open ecosystems, open source and open architectures – all using more or less consciously the foundational thinking from 20th century systems theory.

It was the biologist Ludwig von Bertalanffy3, one of the most acute minds of the 20th century, who established the foundations for a General Systems Theory showing the importance of a “systems view” and giving us a vocabulary and the scientific foundations for dealing with systems.

We look at increasingly complex interrelationships between connected elements in systems at different levels. The traditional logic focusing on cause and effect is insufficient to deal with today’s systemic issues – be they in human, electronic, ecological or biological systems.

We talk about systems all the time but how much do we use von Bertalanffy’s thinking? When we talk about closed systems we should remember that they are isolated from the environment (organisation-wise we talk about bureaucracy and “silos”) and are subject to the law of entropy or decay.

Open systems, by contrast, receive inputs from their environment, work with those inputs and return them to the environment in modified form as outputs.

Closed systems are in a way “machine-like” and open systems “living-organism-like” with significant elements of self-organisation.

Open and closed world views Our world was dominated in the second half of the 20th century by the dichotomy between communism and capitalism. While the world has “opened up” with the advance of globalisation and global integration during recent decades, we see even within our western societies the rift between open and closed philosophies and concepts enduring and in some cases even widening.

Openness is associated with values such as tolerance, individual freedom, lifelong learning, participation, empowerment and co-operation as opposed to typical closed-world values of command and control, top-down management, centralised and bureaucratic governance, over-regulation and collectivist dominance over individual freedom.

In today’s world of business we experience every day what openness means and what benefits it brings to bear. Monopolies or near-monopolies are examples of the closed world as are traditional hierarchies with their burgeoning bureaucracies and disconnected silos as typical manifestations.

Democratic values in business Hence openness seems to be tied to fundamental democratic values. Closed social systems remind us very much of the time of the Iron Curtain….and of old-style autocratic enterprise governance. The “rediscovery” of democratic values and their power in business is reflected in recent business literature such as Democratizing Innovation (von Hippel)4, The Wisdom of Crowds (Surowiecki)5 and showed up in a new report of the Arthur W Pages society in the context of democratising channels of communications.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

?i j^[ mehbZ ef[d5 Wn G^X]VgY HigVjW

eV\Zh ),U)-

Yet the way openness and democratic values show up in management literature and research reminds us not so much of the “voting democracy” but rather as vibrant, participative democracy combined with a dose of horizontal meritocracy – you earn your voice and your space in the community based on your experience and contribution to the common good. Also, open environments are a fertile breeding ground for broadbased innovation.

These ideas and values are not new – why are they now getting new life? Human kind has equipped itself during the last 15 years with a new electronic infrastructure that can potentially connect everyone to everyone else and therefore has a limitless potential to create new social systems at all levels. This infrastructure for communication and interaction has become extremely robust and is increasingly “high performing” (thanks to broadband). We see explosive growth of new interactive capabilities and usage.

The rise of social networking sites, virtual worlds, blogs, wikis and 3D Internet give us a first idea of the potential of the “interactive and collaborative web” dubbed Web 2.0. Now we have the infrastructure and tools to operate in new ways in open systems. While many of the thoughts about openness and the need for more open social systems have been around for some time, this new infrastructure and new tools accelerate the movement. Hence technology contributes and enables us increasingly to give life to many of the values we have been aspiring to.

IZX]cdad\n Xdcig^WjiZh VcY ZcVWaZh jh ^cXgZVh^c\an id \^kZ a^[Z id bVcn d[ i]Z kVajZh lZ ]VkZ WZZc Vhe^g^c\ id

The big technology cycles Carlota Perez6, a Venezuelan scholar and expert on technology and socio-economic development, has demonstrated the recurrence of typical phases in the five major technology cycles starting with the Industrial Revolution of the 19th century. She argues that these cycles have a duration of approximately 50 years. They start with the eruption of a new technology, followed by period of frenzy (“Gold Rush”) that leads straight into a bubble.

The five cycles to date have in common a new technology leading to a paradigm shift that fundamentally impacts the way we see the world, how we live, how we organise our societies and our enterprises, how we work and so on.

Perez talks about an installation phase and a deployment phase following the bubble that in turn leads into something good – a “Golden Age” that finally reaps

the benefit of the new technology, spawning a huge wave of innovation.

Perez has demonstrated that digital technology is now reaching the phase of “deployment”. The benefits, which are potentially huge, are starting to show. While all the major cycles have shown a similar pattern, there is no doubt that they also have different characteristics.

Even though there is now a great opportunity for innovation and value creation there is no reason to be complacent about this – the world is more turbulent than ever, the systemic interdependencies may show in positive and negative ways – just take for example today’s financial markets. The speed of change is putting enormous pressure on all actors.

Yet a maturing and standardising open technology infrastructure provides an unheard of potential for innovation in products, services, business models and even at the societal level. With services taking the lions share of value creation in our advanced economies (between 70% and 80 % of GNP and employment) a transformation of our economic activity is in progress, which requires not only a new enabling fabric but a different set of skills and competencies than were required in the industrial economy.

Impact on business The new technology capabilities enable new organisational and operational models. The corporation is shifting from a hierarchical, monolithic, “multinational” model to one that is horizontal, networked and globally integrated.

Because the operations and responsibilities of organisations can now be componentised, “virtualised” and distributed over an ecosystem of business relationships, work can be located wherever it makes most sense, driven by the imperatives of economics, expertise and open business conditions. This creates new challenges for companies to manage their identities and reputations.

In this environment companies can no longer guarantee life-long employment. The social contract between employee and employer has changed in a highly competitive and fluid open world. But, equally, new employees may not wish to be locked into a long-term employment relationship. In order to attract and retain key talent companies must contribute to equipping their employees for this new open and global environment.

Empowerment of employees and users At the same time, employees are getting more autonomous. The rise of the knowledge worker poses new challenges to HR. The balance between the need to regulate and manage professionals’ activities and their need for autonomy is difficult to achieve.

Talented professionals with knowledge enjoy a technical superiority and relative independence vis-à-vis the organisation. They tend to relate more to their peer-communities and professional associations than to the firm.

What they need most is interest in the job, challenge, fun and freedom.

The new generation entering the workplace (Generation “Y” or Millennials) perfectly reflects these new “open” attitudes.

Open innovation taking centre stage With regard to new Web 2.0-enabled capabilities for employees,

business partners and users to get involved with companies in new ways, innovation itself is changing fundamentally. Innovation is becoming a more open process – “open innovation” has become a catch-phrase with a lot of reality behind it.

Power is shifting to users, who can make themselves heard when they have concerns but who are also increasingly contributing to the innovation value chain to the point of becoming the innovators themselves. Innovation is moving from company-controlled labs into open space. “Living Labs” are becoming a strong movement in Europe to provide an environment for open innovation and services creation.

A European Network of Living Labs was announced under the Finnish EU Presidency in 20067.

Towards a “perfect storm”?

An open world is a world of great opportunity and challenge. It requires changes in our individual behaviours and attitudes and it demands major institutional adjustments. Business and academia will have to find much better synergy to face the challenges of tomorrow’s world. Best academic thinking and best enterprise practice are required to develop the “perfect storm” towards an open world.

78EKJ J>; 7KJ>EH

G^X]VgY HigVjW ^h 9^gZXidg d[ 9ZkZadebZci! :;B9! VcY 9^gZXidg d[ i]Z :;B9 8A>E egd\gVbbZ# =Z ^h Vahd 6Yk^hdg id i]Z 8]V^gbVc! >7B :jgdeZ! B^YYaZ" :Vhi VcY 6[g^XV# H;<;H;D9;I

& I]dbVh A# ;g^ZYbVc! ÆI]Z LdgaY >h ;aVi/ V 7g^Z[ =^hidgn d[ i]Z IlZcin"Òghi 8ZcijgnÇ! P ;^ghi ZY^i^dc/ '%%*# JeYViZY VcY ZmeVcYZY ZY^i^dch '%%+ VcY '%%,! ;VggVg! HigVjh VcY <^gdjmR ' G^X]VgY ;adg^YV! ÆI]Z LdgaY ^h He^`nÇ# I]Z 6iaVci^X bdci]an! DXi# '%%* ( @Vga AjYl^\ kdc 7ZgiVaVc[[n HZeiZbWZg &.! &.%&! K^ZccV! 6jhig^V Ä ?jcZ &'! &.,'! CZl Ndg`! JH6 !dcZ d[ i]Z [djcYZgh d[ <ZcZgVa HnhiZbh I]Zdg^Z 6aa\ZbZ^cZ HnhiZbi]Zdg^Z ) :g^X kdc =^eeZa Zk]^eeZa5b^i#ZYj ! Egd[Zhhdg VcY =ZVY d[ i]Z >ccdkVi^dc VcY :cigZegZcZjgh]^e <gdje Vi i]Z B>I HadVc HX]dda d[ BVcV\ZbZci! heZX^Va^hZY ^c gZhZVgX] gZaViZY id i]Z cVijgZ VcY ZXdcdb^Xh d[ Y^hig^WjiZY VcY deZc ^ccdkVi^dc# =Z ]Vh lg^iiZc Æ9ZbdXgVi^o^c\ >ccdkVi^dcÇ! '%%*! B>I EgZhh * ?VbZh Hjgdl^ZX`^ ]Vh lg^iiZc V Wdd` dc i]Z i]Zdgn VcY egVXi^XZ d[ ÆI]Z L^hYdb d[ 8gdlYh Ä L]n I]Z BVcn 6gZ HbVgiZg I]Vc I]Z ;Zl 6cY =dl 8daaZXi^kZ L^hYdb H]VeZh 7jh^cZhh! :Xdcdb^Zh! HdX^Zi^Zh 6cY CVi^dchÇ! '%%)! 9djWaZYVn # + 8VgadiV EZgZo! ÆIZX]cdad\^XVa GZkdaji^dch VcY ;^cVcX^Va 8Ve^iVa/ i]Z 9ncVb^Xh d[ 7jWWaZh VcY <daYZc 6\ZhÇ! '%%'! :YlVgY :a\Vg EjWa^h]^c\ , I]Z :jgdeZVc CZildg` d[ A^k^c\ AVWh lVh aVjcX]ZY ^c CdkZbWZg '%%+ ^c :hedd! ;^caVcY# I]Z ^c^i^Vi^kZ V^bh id hZi je V cZl :jgdeZVc ^ccdkVi^dc >c[gVhigjXijgZ l]ZgZ jhZgh eaVn Vc VXi^kZ gdaZ ^c i]Z ^ccdkVi^dc VcY XVc ^cÓjZcXZ i]^h id WZiiZg hZgkZ i]Z^g dlc cZZYh$

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

eV\Zh ).U)/

SEE FURTHER INTO THE FUTURE OF BUSINESS

with four of the world’s most inspirational thinkers. Get fresh insights into strategy, management, leadership and innovation,

AND PAY LESS HERE & NOW!

Four Speakers. Two Conferences. One Special Offer.

Conference 1:

GARY HAMEL & MARSHALL GOLDSMITH THE FUTURE OF LEADERSHIP AND MANAGEMENT INNOVATION QE2 Conference Centre, London Thursday 7th February 2008

Conference 2:

TOM PETERS & KJELL NORDSTRÖM NEW MARKETS, NEW TRENDS AND THE PURSUIT OF EXCELLENCE QE2 Conference Centre, London Monday 28th April 2008

BOOK NOW SAVE NOW Register your places before 7th February 2008 for the Gary Hamel and Marshall Goldsmith conference in London on Thursday 7th February 2008 and receive a 50% discount on the ticket price for the Tom Peters and Kjell Nordström conference in London on Monday 28th April 2008.

TELEPHONE: +44 (0)1224 636200 EMAIL:

team@benchmarkforbusiness.com

REGISTER ONLINE:

www.benchmarkforbusiness.com

B[WZ_d] j^[ fbWo[hi _d YkbjkhWb Y^Wd][ 8JAIJG: ;><JG:H EGDB>C:CIAN >C 8=6C<>C< 6C DG<6C>H6I>DC# A:69:GH =6K: ID B6C6<: 8JAIJG: ID B6C6<: 8=6C<:# 6C9! H6NH I>7HED JKHD8KBB! ID B6C6<: 8JAIJG: NDJ =6K: ID JC9:GHI6C9 L=D EA6NH L=6I GDA: >C HJHI6>C>C<! 8=6AA:C<>C<! 6C9 H=>;I>C< I=6I 8JAIJG:

L]Zc V XjaijgZ X]Vc\Z egd\gVbbZ ]Vh WZZc aVjcX]ZY VcY ^h jcYZglVn! bVcn aZVYZgh WgZVi]Z V h^\] d[ gZa^Z[# >i ^h iZbei^c\ id bdkZ higV^\]i dc id di]Zg X]VaaZc\Zh VcY iV`Z ndjg ZnZh d[[ i]Z ÆXjaijgVa WVaaÇ# 7ji i]^h ^h ZmVXian i]Z i^bZ l]Zc ndj cZZY id WZ bdhi VaZgi id l]Vi ^h ]VeeZc^c\ dc i]Z \gdjcY# =dl VgZ eZdeaZ gZVaan gZhedcY^c\4 L]Vi aZkZa d[ Wjn"^c Yd ndj ]VkZ4 L]Vi XdjaY cdl i]gZViZc i]Z egd\gVbbZÉh adc\"iZgb hjXXZhh4

Employee questionnaires may be useful as a preliminary gauge of attitudes prevalent in your workplace but they are unlikely to give you a detailed picture on which to base your actions. How then to gauge the “real” feelings out there?

As a culture change programme progresses, a range of different behaviour patterns begin to emerge. Many of these, however, are not visible on the surface. What are these responses, why do these differences occur, and how can you recognise them?

The players Players can be mapped using two key dimensions (see Figure 1, right).

By committed I am referring to the commitment of an individual to the success of the organisation. The term critical refers to an individual’s willingness to ask searching questions (these may be either positive or negative).

Using these dimensions, my research has uncovered six key groups (see Figure 2, overleaf ). I first discovered these when undertaking an in-depth cultural study of a major global organisation. Since then, I have found these players in all of the many other organisations I have studied.

These roles are not fixed; they can shift. Indeed, the good news is that

<_]kh[ '

you can influence how they change through strong and focussed leadership strategies. Your skill in doing so is the key to any change programme’s success.

The Evangelists Evangelists are common in many organisations. You can recognise them by their intense loyalty and their tendency to take all corporate messages at face value. They are highly committed, but deeply uncritical – and always very keen to adopt and implement any new initiative that comes their way. Their expectations of their leaders are very high, and they are unquestioning in their followership. The Evangelists would not dream of questioning their leaders’ judgment, but nor would they feel comfortable asking probing questions to clarify their understanding. This group are content to follow.

You might then be lured into thinking that the Evangelists are an easy group to lead and pose little trouble. But beware. The Evangelists can seriously impede your judgement.

Evangelists will tell you what you want to hear and it is very tempting to believe that your cultural change initiative is taking root much more

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

B[WZ_d] j^[ fbWo[hi _d YkbjkhWb Y^Wd][ Wn H]Vgdc IjgcWjaa

6c ^bedgiVci \gdje [dg i]Z hjXXZhh d[ Vcn X]Vc\Z egd\gVbbZ VgZ i]Z 8g^i^XVa I]^c`Zgh Ä Xg^i^XVa! fjZhi^dc^c\! Wji Vahd ]^\]an Xdbb^iiZY

quickly than it is in reality. Because of their, often unrealistic, expectations both of their leaders and of the pace of change, they can be easily disappointed if you are unable to live up to their hopes or if they see that you are after all fallible.

The Actors Equally uncritical, but much less committed than the Evangelists, this group might not be easily distinguished from them at first glance. Both groups will lead you to believe that they have fully accepted the “company line” and bought into your vision. However, although the Actors may act identically to the Evangelists, they feel very differently. Actors are chameleons with well-developed thespian skills. They want you to believe that they have bought into the corporate message because they fear that to dissent would bring reprisals.

Actors are very prevalent in “fear” cultures but much rarer in cultures where challenge is encouraged.

Actors appear to change their allegiance to new ideas very easily. They do not engage very much or identify very strongly with the organisation. Their true feelings when exposed, however, are usually of deep scepticism or detachment. This is a group that is hard to detect, because they cover their true feelings so successfully. You will, however, find that they occasionally drop their guard with trusted colleagues or in social situations.

Many Actors have revealed to me during my research that they adopt this tactic as a result of a fear of losing their jobs if they do not appear to conform. They can be influenced but the danger is that they may capitulate and become “evangelistic” in their behaviour. If you find that

eV\Zh *&U*'

>[ ndj adhZ idjX] l^i] i]Z [ZZa^c\h d[ i]Z eZdeaZ ndj l^aa WZ ^c YVc\Zg d[ Vaadl^c\ i]Z^g gZhedchZh id h]^[i ^c Y^gZXi^dch i]Vi l^aa WZ XdjciZg"egdYjXi^kZ id hjhiV^c^c\ i]Z X]Vc\Z egdXZhh you have a large number of Actors in your organisation, you should start by asking yourself why people feel that they cannot voice their honest opinions.

The Untouched Professionals The Untouched Professionals are usually lawyers, accountants, research scientists or indeed any professional whose loyalty lies with their profession rather than their employer. They often have high market value and view the organisation as a place that hosts them in pursuing their profession. They feel untouched by programmes that sell values, visions and missions, since their own values and visions are deeply embedded in their professional identities.

Committed to their roles, but much less to their employer, this group is unlikely to engage with the programme, remaining ambivalent and showing only a polite passing interest in the changes you are introducing.

In other words, they can see the merit of cultural change but as professionals they do not think that it applies to them. They expect their leaders not to bother them with it and if asked to attend associated events will assume it is for appearances only. The problem they pose is the potentially negative impact of their ambivalence on those around them.

The Critical Thinkers An important group for the success of any change programme – and a crucial sounding board for any leader to test their ideas and judgment on – the Critical Thinkers are critical, questioning, but also highly committed. This means that their ability to be critical is likely to be constructively focussed.

These are the members of your organisation who think most deeply. They are not afraid to ask awkward questions. You can trust these people because they will tell you honestly what they feel and because they really do want what’s best for the organisation. Critical Thinkers are loyal but if they feel that you are making a mistake they will tell you, while remaining constructive about how to put it right.

Not surprisingly, organisations rarely have enough Critical Thinkers. You may not always recognise their value, of course, as they can be demanding and challenging, and even question your judgement at times. But this may be an important safeguard. If you do not have any Critical Thinkers in your team you are totally dependent on your own judgement.

The Sceptics This is usually a large group. These people will be found “sitting on the fence” in the early stages of any change programme. They tend to observe and watch their colleagues

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

B[WZ_d] j^[ fbWo[hi _d YkbjkhWb Y^Wd][ Wn H]Vgdc IjgcWjaa

eV\Zh *(U*)

<_]kh[ ( 0 I]Z eaVnZgh ^c XjaijgZ

and superiors very carefully before deciding whether to accept or reject any new initiative. They do not have strong feelings or beliefs of their own, and are the most easily led of the players.

The Sceptics often become Actors if put under pressure (or if their scepticism is driven underground by authoritarian leadership) and if you do not pay attention can be easily influenced by any negative views around them to undermine cultural change. On the other hand, with consistent positive leadership, reinforced by positive role modelling, they can be persuaded to support their leaders’ endeavours.

The Sceptics are an important group for leaders to pay attention to, particularly in the early stages of cultural change. Stronger employees with more vocal opinions will have a big influence on the Sceptics.

The Open Cynics The Open Cynics are both critical and uncommitted. Organisations rarely contain many of these, since openly cynical behaviour is known to be “career limiting” in most arenas.

So who are these people? These are strong individuals with strong personal agendas. They have often come to believe themselves to be untouchable, sometimes possessing a skill or expertise that the organisation cannot do without. Or they may sometimes be so near to retirement that they no longer fear reprisals for speaking their mind.

can you ensure that you engage with and motivate each group in the way that you lead the change process and beyond?

My research has shown that these responses are not static and can shift – sometimes slowly though often dramatically– so it is crucial that you keep a close eye on the movements of these behavioural patterns in response to your leadership. If you are not in touch with these patterns, you will not be able to take the appropriate actions to steer your programme.

If you lose touch with the feelings of the people you will be in danger of allowing their responses to shift in directions that will be counterproductive to sustaining the change process.

One of the most successful strategies for influencing groups of managers to shift in the direction you need is to enhance their self-awareness by showing them Figure 2 and asking them to try to categorise their own teams. Prompted by the model, most managers cannot resist reflecting on themselves and their own response to change before going on to reflect on others. By providing a language for addressing this emotive topic, the model has frequently prompted some very valuable group discussions, often within senior management teams.

This group, for various reasons, know that they are untouchable. Unlike the Critical Thinkers, their loyalty is to themselves and so they set themselves up as self-proclaimed rebels – often saying what others do not dare. They are very often attention seeking – their motivation is to be heard and recognised.

They can be damaging to a change agenda, as they can be a strong influence on Sceptics. On the other hand, if carefully managed, they are a useful group for any leader seeking to understand the concerns around the organisation. They often speak with passion and hold strong beliefs and so it is worth giving them discussion time. If they do “convert” to your perspective they will be staunch allies and their conversion will send out an extremely powerful message to the less vocal and less visible Sceptics.

Having acknowledged that not everybody in your organisation has responded to change in the same way, what can you do about it, and how

78EKJ J>; 7KJ>EH

Egd[Zhhdg H]Vgdc IjgcWjaa ^h 9^gZXidg d[ i]Z 8ZcigZ [dg 6eea^ZY AZVYZgh]^e GZhZVgX] Vi I]Z AZVYZgh]^e Igjhi ^c Gdhh"dc"LnZ! J@# H]Z ^h Vahd K^h^i^c\ Egd[Zhhdg Vi i]Z Jc^kZgh^in d[ <adjXZhiZgh]^gZ! HZc^dg GZhZVgX] ;Zaadl Vi AVcXVhiZg Jc^kZgh^in BVcV\ZbZci HX]dda! J@! VcY V 8]VgiZgZY ;Zaadl d[ i]Z 8]VgiZgZY >chi^ijiZ d[ EZghdccZa VcY 9ZkZadebZci# H]Z ]Vh gZhZVgX]ZY! ejWa^h]ZY! iVj\]i VcY XdchjaiZY id dg\Vc^hVi^dch ^c i]Z ÒZaY d[ dg\Vc^hVi^dcVa XjaijgZ VcY X]Vc\Z! VcY ]Vh V WVX`\gdjcY ^c =jbVc GZhdjgXZ 9ZkZadebZci# :bV^a/ h]VgdcijgcWjaa5aZVYZgh]^e#dg\#j`

JANHH:H @NG>68DEDJADH DJIA>C:H =DL 7JH>C:HH H8=DDAH 6C9 B76 EGD<G6BB:H 86C 9:K:ADE IDBDGGDLÉH A:69:GH D; >C9JHIGN

I]Z gdaZ d[ B76 egd\gVbbZh ^c YZkZade^c\ XdgedgViZ ZmZXji^kZh

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

J^[ heb[ e\ C87i Wn JanhhZh @ng^VXdedjadh

eV\Zh **U*+

6GI>8A: CDI N:I HI6GI:9 L]Vi h`^aah VgZ XdbeVc^Zh add`^c\ [dg l]Zc i]Zn ]^gZ B76 \gVYjViZh4 L]Vi VgZ i]Z cZl igZcYh ^c B76 VcY ZmZXji^kZ ZYjXVi^dc4 =dl VgZ XdbeVc^Zh ^ciZ\gVi^c\ VcY YZkZade^c\ i]Z Wjh^cZhh hX]dda \gVYjViZh i]Zn ]^gZ4 L]Vi ^h ^i i]Vi Wjh^cZhh hX]ddah VcY i]Z XdgedgViZ ldgaY XVc VX]^ZkZ id\Zi]Zg4

The business world is changing at a rate that would have been unimaginable in the past. Rapid advancements in technology, changes in customer behaviour and higher expectations from financial investors are placing tremendous and often paradoxical demands on the top management of corporations.

Dealing with such change forces us, as business leaders, to modify the way we organise and operate all the time. Our role in the 21st century is to take advantage of our continuously changing world. If we do that we can then thrive in amazing new ways.

In today’s hypercompetitive environment our customers want our products and services: Free (at the lowest possible price) Perfect (with no defects and no chance of returns) Now (with immediate delivery) Although cheaper is not always better, faster always is. I believe that we all need to accelerate in order to take advantage of this faster-moving world. Every aspect of our business and all connected organisations, suppliers and clients, operate and change in real time. Targets for success also keep changing.

In other words, whatever we did that made us successful in the recent past will most probably not be enough to make us successful tomorrow.

We should not condition our view of tomorrow by what we do today.

We all understand that our market value depends on our ability to create more value for our customers all the time. I am sure that this also applies to every business school.

The explosion of the Internet means that customers are more informed and more demanding. In my company, S&B Industrial Minerals, we try to connect on-line with most clients and some key suppliers. We all need to collect and process more information on our customers and identify areas to improve the level of customer satisfaction. We are developing a coherent customer-support system that will also facilitate all transactions from order processing, billing and collection.

Consider the following thoughts. The difference between products and services blurs. In other words, at least in my business, every offer we make has both a tangible and an intangible economic value for our customers. What is worth noting is that the intangible part of every offer a customer receives nowadays is becoming more important or just as important as the tangible part, the product itself.

In the digital world, says Nicholas Negreponte, “one size fits all” will be unheard of. Customisation is the trend and we have to find a way to further customise the offers we make to every client, addressing their

specific intangible and tangible needs. Customisation is also a way to reinforce my company’s strategy, as stated in our mission to be in the specialties and not in the commodities business.

The term “customer service” is probably the most shop-worn phrase of the 1990s. Everybody in business today is committed to delivering good service and this makes it more difficult to differentiate ourselves from our competitors. Every shareholder, banker and investor understands that the future of every business depends primarily on quality of management.

Quality of management means quality of decisions and efficiency of implementation. This is where business schools start to play a very important role.

Admission decisions should take into account patterns of accomplishment beyond academic ability that might indicate the potential for success in business. Management and leadership ability are qualities that admission officers should value. Success is almost inevitable if the selection process does not compromise on quality of admissions. Every school can then teach good analytical skills. Obviously the chances of better-quality decisions increase if character and skills are coupled with experience.

Employers continue to value the core skills and competences that an MBA course confers upon future corporate executives. The set of formal techniques to appraise investments, analyse financial statements, understand product costs, segment a market or develop a personnel evaluation system remain essential tools for every manager. Nevertheless, these skills – important though they are — are increasingly seen as only the tip of what is expected of an MBA.

7ZndcY i]Z iddaWdm d[ iZX]c^fjZh! Vc B76 egd\gVbbZ h]djaY YZkZade hd[i WZ]Vk^djgVa h`^aah i]Vi VgZ WZXdb^c\ bdgZ YZX^h^kZ ^c i]Z fjVa^in d[ ^beaZbZciVi^dc d[ Vcn YZX^h^dc

Beyond the toolbox of techniques, an MBA programme should develop soft behavioural skills that are becoming more decisive in the quality of implementation of any decision. Most failures have to do with the poor implementation or lack thereof of what appeared on paper as a good decision. This is why all good business schools emphasise the need for team work and the development of emotional intelligence. A manager also needs good communication and leadership skills as he or she by definition cannot do the job alone but has to manage a team of people.

I understand and I am comfortable with the vision shared by most EFMD members, reflected in the nature of their MBA programmes: – European in inspiration; global in scope – Diversity as a source of richness – Business has a tremendous opportunity to shape a better world Each element of this compelling vision is also expressed in the valuecreating attributes that corporate executives now develop.

European in inspiration; global in scope Without a global perspective, neither corporate executives, nor the firms they help to build, can sustain competitiveness, even in the short run. And the global scope of a modern MBA should ensure that students’ mindsets are primed to always consider the worldwide context.

Making an impact beyond domestic borders has long been a hallmark of EFMD and its EQUIS quality assessment and accreditation system, so it is especially appropriate that this vision continues to inspire MBAs. We should never undervalue the European inspiration that underpins this global scope, an inspiration born from democracy and

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

J^[ heb[ e\ C87i Wn JanhhZh @ng^VXdedjadh

plurality, from a respect for both logic and art, for both thinking and doing â&#x20AC;&#x201C; hallmarks of Greek culture for 25 centuries. Todayâ&#x20AC;&#x2122;s MBA programmes should be designed to accelerate the global careers of executives by teaching them how to manage, source, sell and compete in multicultural environments around the world.

Diversity as a source of richness I believe like most of you that diversity is a source of richness. Working alongside fellow students from a wide range of national, ethnic and sectoral backgrounds, MBA students learn to appreciate the richness which diversity of experiences brings. Diverse teams generate enhanced creativity, a wider variety of problem-solving approaches and usually better-quality decisions.

Thriving on the richness of diversity is another of the attributes a modern, multi-cultural MBA delivers.There is no one â&#x20AC;&#x153;right modelâ&#x20AC;? of an MBA, a business school, or a business corporation. Only by embracing diversity can the best, and most innovative, solutions for a given context emerge to lead the corporation forward.

Business has a tremendous opportunity to shape a better world When I served as President of the Federation of Greek Industries I always supported the idea that good and responsible business practices will make our world better for all. Therefore I appreciate EFMD leadership in practical developments focusing on business as a force for good, best illustrated perhaps through its Globally Responsible Leadership Initiative.

The ever-increasing emphasis which all of us place on corporate social responsibility is also a key element of MBA education, which, at its

eV\Zh *,U*-

best, balances the teaching of management skills with the development of strong personal values and business ethics MBA students should discover that corporate social responsibility is a key integrating element of management practice and theory, thus emerging as leaders who fully appreciate the potential they have for engaging in sustainable socio-economic development.

In conclusion I hope that I have reinforced statements that I am sure you already knew and some of you have put into practice through various activities. Please continue the good work raising the standard of management education in Europe by setting high standards, benchmarking and seeking mutual cross-border learning.

This is an edited version of Ulysses Kyriacopoulosâ&#x20AC;&#x2122; final address to the 2007 EFMD MBA Conference held in Athens in April 2007.

78EKJ J>; 7KJ>EH

JanhhZh @ng^VXdedjadh ^h i]Z 8]V^gbVc d[ i]Z 7dVgY d[ H 7 >cYjhig^Va B^cZgVah H6! <gZZXZ <KHJ>;H ?D<EHC7J?ED

I]Z '%%- :;B9 B76 8dc[ZgZcXZ ]dhiZY Wn H96 7dXXdc^ 7jh^cZhh HX]dda l^aa iV`Z eaVXZ dc i]Z (") 6eg^a ^c B^aVc! >iVan# I]^h nZVgh i]ZbZ ^h B^c^c\ i]Z KVajZ Egdedh^i^dc Ă&#x201E; :beadnVW^a^in d[ B76h# BdgZ ^c[dgbVi^dc ^h VkV^aVWaZ k^V i]Z :;B9 lZWh^iZ#

Dcan Wn ZbWgVX^c\ Y^kZgh^in XVc i]Z WZhi! VcY bdhi ^ccdkVi^kZ! hdaji^dch [dg V \^kZc XdciZmi ZbZg\Z id aZVY i]Z XdgedgVi^dc [dglVgY

IZYYn WZVgh! hcdl VcY i]Z hZm a^[Z d[ XgjhiVXZVch 6C9G:L 8G>HE ADD@H 6I I=: ;>C9>C<H D; 6 C:L HIJ9N >CID L=6I B6@:H 6 <G:6I 7JH>C:HH H8=DDA L:7H>I:

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

J[ZZo X[Whi" idem WdZ j^[ i[n b_\[ e\ YhkijWY[Wdi Wn 6cYgZl 8g^he

eV\Zh *.U*/

*% HijY^Zh hj\\Zhi bdgZ i]Vc ]Va[ d[ egdheZXi^kZ hijYZcih YZhXg^WZY lZWh^iZh Vh i]Z^g bdhi ^bedgiVci hdjgXZ d[ ^c[dgbVi^dc VWdji Wjh^cZhh hX]ddah

L]Zi]Zg Wn VXX^YZci dg YZh^\c! lZWh^iZh egdk^YZ Vc ^ch^\]i ^cid l]Vi bV`Zh V Wjh^cZhh hX]dda i^X`# BdgZ h^\c^ÒXVcian! V lZWh^iZ ^h i]Z bdhi ejWa^X"[VX^c\ Zmedh^i^dc d[ V hX]ddaÉh WgVcY#

Get the website wrong and not only is a large part of the marketing budget wasted but your reputation may decline quickly and internationally.

Websites have become ever-more important in education in recent years. Studies suggest as many as 70% of prospective students found websites useful when deciding where to study and more than 50% described websites as their most important source of information about business schools. (The Business of Branding 2007) But what makes a great business school website and why is it so important?

There’s plenty of advice available, from both a design and technical standpoint. Indeed, go on to Google and search for what makes a great website and there are around 80 million responses.

But there’s far less information about what specifically makes a great business school website, hence the Association of Business Schools in the UK asked CarringtonCrisp to research best practice with regard to business school websites.

Through 19 interactive focus groups the study, titled WebWorks, sought the views of 270 prospective students, undergraduates and postgraduates about 18 business school websites. Each site was assessed across 40 criteria with ten of these producing an overall ranking for each site.

The most important thing for any website is its audience. A website is like any other form of marketing; it’s a communication tool and so what you are saying and who you want to say it to are of great importance.

The home page of a website is like the most expensive piece of real estate in a city but instead of just putting luxury flats on the site, you

need to build mixed use, appealing to a variety of different audiences, and still turn a profit.

A great business school website manages to deliver an appealing mix of information for different audiences while not falling to the lowest common denominator and simply producing something bland and unappealing. A great site not only works on the home page for different audiences, but also helps these audiences to quickly reach the information they want – in most cases that is course details.

The top two sites in the WebWorks study were Bradford University School of Management (http://www.brad.ac.uk/acad/management/ external/) and Cass Business School (http://www.cass.city.ac.uk/).

Although different in style, both sites made it very easy for the user to quickly reach the information they wanted from the site home page.

One of the most important findings across the study was the preference among website users to search sites rather than use navigation.

Each site tends to use slightly different language to describe similar courses. Rather than learn a new language on each site they visit or spend time working through navigation, users indicated that they search for phrases they understand and then work from the search results. A site that provides easy access from the home page to key course information will be better received than a potential competitor that has complex navigation and makes poor use of the home page.

A poor home page can be characterised in many ways – cluttered layout, lack of a search engine, weak identity – but there was one item that almost all study participants agreed on: don’t put the Dean on the home page. Of course it’s important to welcome new visitors to a website, especially prospective students, but the home page isn’t the best place.

A link to a welcome message can be useful but the face of the Dean adds little to the impact of the home page, giving no reasons for a site visitor to dig deeper into the site.

The key is creating “stickiness” – reasons for a visitor to stay with a site, explore the depth of the site and to attract the visitor to turn a virtual relationship into a physical link.

Stickiness is key given the extent of information on the web about business education.

A search on Google for the term “MBA” will return over six million possibilities. Not all of these will be about business education; a recent search for “MBA” produced on the first page of results links to the Mortgage Bankers Association and the Mountain Bothies Association. (“Bothies” are small huts in the Highlands of Scotland where walkers can take refuge.)

A potential student knows that if they link to a site on the web and it doesn’t capture their attention then there are many more schools to consider just a couple of clicks away. Some studies have suggested that site users can click away within four seconds of landing on a page if they can’t find what they are looking for.

The main reason for pursuing a business education is career enhancement. More than 50% of undergraduates frequently state that they study business to get a better career, while among masters students the drive is more explicit, with over 80% suggesting that their motivation is based around improved earnings potential.

Despite the acknowledged career motivation of many students, some schools hide away behind password protection the very information that those visiting their site want to know about – career services and alumni.

Career aspects of a website can provide details of which employers come to campus, destination statistics for recent graduates and information on how a school helps its students with their career search. An alumni section can bring careers to life, providing real examples of graduates and what they have gone on to do post-graduation.

One of the best alumni examples in the study was at Leeds University - http:// lubswww.leeds.ac.uk/alumni/index.php?id=354 (their alumni pages were ranked number one in the study). The alumni pages provide lists of students who have set up their own businesses and then has links to the websites of these businesses. One enterprising graduate has set up a ski holiday business in Japan (www.WeLoveSnow. com) and on the webcam on his site the snow could be seen falling in Japan.

If a school puts enterprise and internationalism at the heart of its branding, there can be few better examples of this than such an alumni display. There is the added benefit that this is very real and doesn’t suffer the slightly cynical view that some prospective students take of case studies on websites, suspecting they have been written by a marketing copywriter with a graduate name and picture added afterwards.

Information on careers can be similarly powerful though it can also cause confusion.

A search for careers on one site in the study threw up the first result all about the career research of an academic into the sex life of crustaceans.

Accuracy is vital, particularly when it comes to news and fees. Out of date news that hasn’t been refreshed for six months will quickly suggest to a site visitor that there is little going on at the school and what is happening cannot be of much interest.

Similarly, fee details for last year will provide a reason for a prospective student to either discount a school or move on to another site because they are unable to make an accurate comparison across a number of schools.

Another aspect of news is press relations and websites can be an important tool to help build contacts with the media. Often a press office has only a small staff and if they are unavailable an opportunity to place a story could be missed.

HdbZ hX]ddah ]^YZ VlVn WZ]^cY eVhhldgY egdiZXi^dc i]Z kZgn ^c[dgbVi^dc i]Vi i]dhZ k^h^i^c\ i]Z^g h^iZ lVci id `cdl VWdji Ä XVgZZg hZgk^XZh VcY Vajbc^

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

J[ZZo X[Whi" idem WdZ j^[ i[n b_\[ e\ YhkijWY[Wdi Wn 6cYgZl 8g^he

eV\Zh +&U+'

The Cass website goes someway to helping the media self-serve. Within the website there are pages (http://www.cass.city.ac.uk/press/index.html) that allow journalists to conduct their own search for an academic who can speak on a particular subject.

Another approach to brand extension and higher visibility is through e-commerce on a website; not that this means selling degrees. The Warwick Business School website contains an e-commerce shop (https://www.sunion.warwick.ac.uk/wbs/catalogue. asp?catalogue_id=1) providing a host of branded goods from shirts and mugs to teddy bears that can be purchased on line. The site also provides a series of e-cards (http:// www.wbs.ac.uk/news/digital_postcards/) that can be sent to friends and family featuring aspects of the school and helping to enhance the overall brand of the school.

Branding and the business school website can become a complex issue when there is a strong, central university marketing function. Each case will be different, depending on the nature of the relationship between school and university and the relative strengths of their brand.

However, few schools or faculties within a university will have to appeal to such a wide variety of audiences as the business school, and a degree of flexibility to cope with these different demands can bring considerable benefits in creating stickiness for key audiences. There are many examples in the business world where a strong corporate brand supports very different product brands within the same organisation.

7gVcY^c\ VcY i]Z Wjh^cZhh hX]dda lZWh^iZ XVc WZXdbZ V XdbeaZm ^hhjZ l]Zc i]ZgZ ^h V higdc\! XZcigVa jc^kZgh^in bVg`Zi^c\ [jcXi^dc

There are still many opportunities to develop business school websites. Virtual learning platforms, downloadable lectures and many other features are becoming more common. However, the interactivity and user generated content of the Web 2.0 era has hardly penetrated the business school website to date, although some interesting examples (http://www.youtube.com/watch?v=ipJTqCbETog) exist elsewhere on the Internet.

The business school website of tomorrow has only just begun to evolve but much can be done to make todayâ&#x20AC;&#x2122;s sites more effective.

WebWorks will be run internationally in March 2008 with support from ABS and EFMD.

<KHJ>;H ?D<EHC7J?ED

>[ ndj ldjaY a^`Z id gZXZ^kZ V Xden d[ i]Z LZWLdg`h :mZXji^kZ HjbbVgn dg Ă&#x2019;cY dji ]dl ndjg Wjh^cZhh hX]dda XVc iV`Z eVgi ^c i]Z cZmi hijYn! hZcY Vc ZbV^a id 6cYgZl 8g^he Vi VcYgZl5 XVgg^c\idcXg^he#Xdb dg BVii]Zl LddY Vi bVii]Zl#lddY5Z[bY#dg\

-* d[ ^chi^ijiZh l]d idd` eVgi ^c i]Z hjgkZn ZmeZXiZY i]Z eZgXZciV\Z d[ VXi^k^in [gdb djih^YZ i]Z^g ]dbZ Xdjcign id ^cXgZVhZ dkZg i]Z cZmi i]gZZ nZVgh

I]Z ZmZXji^kZ ZYjXVi^dc X]VaaZc\Z ?D=C <>A@:H DJIA>C:H I=: @:N G:HJAIH D; I=: '%%, :;B9 :M:8JI>K: :9J86I>DC HJGK:N 6C9 EDC9:GH I=:>G >BEA>86I>DCH Ä E6GI>8JA6GAN I=: :BE=6H>H DC >C8G:6H:9 >CI:GC6I>DC6A>HB Ä ;DG I=: ;JIJG:

6h > hVi ^c i]Z :;B9 :mZXji^kZ :YjXVi^dc 8dc[ZgZcXZ! ]ZaY Vi :jgdbZY! BVghZ^aaZh! ^c DXidWZg '%%,! > [djcY bnhZa[ [VhX^cViZY Wn V X]Vgi Vi i]Z [gdci d[ i]Z gddb# I]Z -% YZaZ\ViZh ]VY WZZc Vh`ZY id bVe i]Z ^ciZgcVi^dcVa hXdeZ d[ i]Z^g ^chi^iji^dc VcY i]Z^g Vhe^gVi^dch [dg i]Z [jijgZ# I]Z X]Vgi h]dlZY i]Vi bdhi ^chi^iji^dch lZgZ hi^aa kZgn cVi^dcVaan [dXjhZY nZi cZVgan Vaa ]VY V higdc\ YZh^gZ id WZXdbZ bdgZ ^ciZgcVi^dcVa ^c i]Z [jijgZ#

produce a survey that stimulated members to reflect on the key strategic challenges they faced.

There were several questions on my mind: Why were we all joining this rush to be more international? Will the total global market for our services continue to grow? Will we eat into each other’s competitive space and margins? How will our industry look in 25 years time?

I will return to those questions but first let me share the key findings from three years of this survey.

In 2005 the steering committee charged with designing the Annual EFMD Executive Education Conference had decided to undertake a survey to map the DNA of the membership in Europe. When I joined the committee later that year I volunteered to take on the co-ordination of this survey. Having recently entered the world of executive education I felt this would further my own knowledge of the sector.

I also wanted to build on the first survey by making it more userfriendly and of more value to members. I saw the opportunity to

At the 2006 and 2007 conferences I presented the survey findings and was able to start to identify trends. This year we also carried out live market research in the conference room to validate the findings of the survey. I have been impressed by the degree of openness among delegates and their preparedness to discuss and share their key strategic challenges.

Size, status and services A wide diversity of organisations participated in the 2007 survey. In terms of size, 20% had revenue from executive education of less than €500,000 and less than 500 total participants. At the other end of the scale, nearly one-fifth of the 61 organisations that participated had a turnover from executive education activities in excess of €15 million, derived from more than 5,000 participants.

The ownership and governance of different institutions also varied considerably. Nearly half were integrated within a university, whereas 28% were independent private schools.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

J^[ [n[Ykj_l[ [ZkYWj_ed Y^Wbb[d][ Wn ?d]c <^a`Zh

eV\Zh +(U+)

I]Z dlcZgh]^e VcY \dkZgcVcXZ d[ Y^[[ZgZci ^chi^iji^dch kVg^ZY Xdch^YZgVWan# CZVgan ]Va[ lZgZ ^ciZ\gViZY l^i]^c V jc^kZgh^in! l]ZgZVh '- lZgZ ^cYZeZcYZci eg^kViZ hX]ddah

There also existed a very wide diversity in the relative proportion of chosen delivery channels, with some organisations focussing largely on open-enrolment programmes and others dedicated to customised programmes.

Becoming more international is a common aspiration The questions designed to gain information about institutionsâ&#x20AC;&#x2122; international scope and aspirations produced some interesting results. Over half derived less than 10% of their income from outside their home country (over two-thirds less than 20%).

However, 85% expected the percentage of activity from outside their home country to increase over the next three years. There was thus a picture of a largely domestically focussed group with a high aspiration to play on a wider stage.

Partners wanted We continue to see an increase in partnerships with other academic institutions. Two-thirds reported being

in formal partnerships with other institutions, one claiming to have more than 20 such arrangements. An impressive 95% of organisations expected their partnership activity to increase during the next three years.

faculty refreshed and commercially aware, whereas others saw the practice as an unhelpful historical burden, which added further complexity to the competitive landscape.

One question we failed to ask was whether these partnerships had generated real added value, that is that their benefit exceeded the time and effort invested in making them work. We had discussed this very subject at the Executive Education Conference in Cape Town in 2003 and heard plenty of evidence to suggest that getting a real commercial return on partnerships continues to be a challenge.

New clients for old The questions on the nature of client relationships produced no major surprises and most organisations continue to work across both public and private sectors to varying degrees. The most interesting fact for me was that in any one year on average 70% of work comes from existing clients and 30% from new clients. This left me thinking about whether we gave sufficient attention to retaining existing clients given that it is much easier to win further business from them than to win new clients in an increasingly challenging marketplace.

A myriad of approaches to supplying services Consultancy continues to be an important activity in a small number of organisations but still represents less than 10% of income in 84% of those surveyed.

The expertise areas that are most prevalent in our European schools continue to be leadership and strategy, both of which are present in around 90% of cases.

Those that have formal alumni programmes (43%) are making more use of them, with over 90% now reporting the holding of regular alumni meetings and 78% facilitating their alumni’s access through a website portal.

The trend towards the establishment of separate e-learning facilities appears to have flattened out at around 40% of institutions.

Private consulting – friend or foe?

One of the most emotive subjects raised at recent conferences has been private consulting by faculty. A large percentage (78%) of organisations reported allowing private consulting, in over half the cases more than 30 days per year. When we discussed this in Marseille there was a distinct polarisation between institutions who felt that private consulting made a positive contribution to keeping their

Does contract size matter?

There continues to be a very wide range of contract size in the area of customised executive education. Eight institutions reported a maximum contract size of less than €250,000, whereas at the other end of the scale one organisation reported that 65% of its revenue came from contracts worth more than €1 million. I noted that organisations took a very different strategic positioning in this respect, some choosing “not to get out of bed” for contracts worth less than €100,000.

I want it cheap and I want it now!

The 2007 survey showed an interesting trend in terms of the average time from programme design to programme delivery. This has reduced considerably from previous years, with 28% of organisations now reporting an average time from design to delivery of less than three months. There is a definite trend toward clients demanding faster solutions.

The survey also suggested that we are starting to see some resistance to fee levels. When I tested this in the conference room the great majority of delegates supported this view. There has also been a reduction in the

J^[ [n[Ykj_l[ [ZkYWj_ed Y^Wbb[d][ Wn ?d]c <^a`Zh

eV\Zh +*U++

>B6<:H 8DJGI:HN/ GD;A:N E6G@

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

average number of participants taking part in customised programmes, with 44% of organisations now reporting an average participation level of less than 20 people.

Mature or ageing?

The trend in open enrolment is also towards a lower number of participants on programmes. I tested with the conference delegates whether this was because of a desire for smaller programmes or directly due to a failure to fill programmes. There appeared to be quite different views on this issue among delegates. Some were convinced that openenrolment products were slowly dying whereas others saw levels of demand holding up well in their local markets. Is this now a mature market with minimal growth or is it ageing into continuous decline?

On reflection Now to return to my earlier reflections. The rush towards internationalisation is a natural response to the changing needs of our increasingly global customers. It is also a sensible strategic direction given the relative undersupply of executive education in the emerging economies.

However, such an approach is not necessarily right for all, especially those institutions of modest size with limited resources. Adopting a niche position, whether in terms of geographic scope or product offering, can be a key differentiator in a crowded marketplace.

The competitive landscape continues to change at a fast pace, with new entrants easily able to leapfrog the modest barriers to entry. It is scary that many have relatively few fixed costs compared to traditional business schools. Is there room for everyone to survive and thrive?

I doubt it. Will the industry need to rationalise and restructure?

I predict that it will.

When EFMD carries out the 25th iteration of this survey – in 2029 by my calculation – you should expect the world of executive education to look quite different. The only constant factor will be “change”.

I will leave readers to reflect on the strategic implications of the survey for their organisation and for them personally. I hope that you find the results of this survey enlightening or at the very least cause for you to pause for thought.

.* 6c ^begZhh^kZ .* d[ dg\Vc^hVi^dch ZmeZXiZY i]Z^g eVgicZgh]^e VXi^k^in id ^cXgZVhZ Yjg^c\ i]Z cZmi i]gZZ nZVgh

78EKJ J>; 7KJ>EH

?d]c <^a`Zh ^h 8]^Z[ :mZXji^kZ d[ Gd[[Zn EVg` ^c i]Z J@! i]Z :mZXji^kZ :YjXVi^dc VcY GZhZVgX] >chi^ijiZ# I]Z '%%- :mZXji^kZ :YjXVi^dc BZZi^c\ ]dhiZY Wn i]Z Jc^kZgh^YVYZ 8Vi a^XV Edgij\jZhV l^aa iV`Z eaVXZ dc i]Z &'Ä&) DXidWZg ^c A^hWdc! Edgij\Va# BdgZ ^c[dgbVi^dc ^h VkV^aVWaZ k^V i]Z :;B9 lZWh^iZ#

6 :JGDE:6C EGD?:8I =6H H=DLC I=6I =:AE>C< I=: :CK>GDCB:CI 6C9 :C8DJG6<>C< EGD;>I67A: HB6AA 7JH>C:HH:H 86C <D =6C9 >C =6C9# 96K>9 L6I@>CH :MEA6>CH =DL

Eda^i^Xh! i]Zn hVn! ^h i]Z Vgi d[ i]Z edhh^WaZ# 7ji hdbZi^bZh dcZ ldcYZgh l]Zi]Zg :jgdeZÉh eda^i^X^Vch ]VkZ ZkZg ]ZVgY i]^h Ve]dg^hb# 9^[[ZgZci hZih d[ b^c^hiZgh ]VkZ Y^[[ZgZci eg^dg^i^Zh gZaViZY id i]Z^g dlc edgi[da^dh VcY kZgn d[iZc i]ZhZ eg^dg^i^Zh hZZb id WZ ^c ediZci^Va XdcÓ^Xi l^i] ZVX] di]Zg#

Thus it was that in the early years of this millennium the European Union decided that it wanted to halt – and then reverse – the loss of biodiversity by 2010 while at the same time making Europe the most entrepreneurial and innovative region in the world.

These two aspirations were respectively enshrined in the Gothenburg Declaration and the Lisbon Agenda. At the time, business growth and environmental sensitivity were perceived to be unlikely bedfellows; but as these respective agendas have played out what at first appeared to be probable ground for conflict instead turned out to be a potentially fertile source of a whole new range of business opportunities as well as suggesting new grassroots models of corporate good citizenship.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

:e_d] m[bb Xo Ze_d] ]eeZ Wn 9Vk^Y LVi`^ch

eV\Zh +,U+-

One recent EU project – Probioprise – brought together business and environment experts from the networks of the EFMD, Fauna and Flora International, and the European Bureau for Conservation and Development to explore the extent to which European small and medium-sized enterprises (SMEs) could help deliver the Gothenburg and Lisbon promises simultaneously.

The acronym Probioprise stands for pro-biodiversity enterprise. But what exactly is a pro-biodiversity SME? This, of course, was the first question the Probioprise team asked itself. The formal answer was that “a pro-biodiversity SME is one which is dependent on biodiversity for its core business and contributes to biodiversity conservation through that core business”.

But beyond that dry definition a more interesting answer emerges through looking at the activities of some of the 100-plus organisations that participated in the project.

These ranged from land-reclamation schemes, through high-tech takes on traditional industries such as forestry, to the development of interesting foodstuffs and ecotourism.

Four ‘typical’ enterprises In a sense, one of the joys of the project was that there turned out to be no “typical” firms; but here goes…

L]Vi Vi Òghi VeeZVgZY

id WZ egdWVWaZ \gdjcY [dg XdcÓ^Xi ^chiZVY ijgcZY dji id WZ V ediZci^Vaan [Zgi^aZ hdjgXZ d[ V l]daZ cZl gVc\Z d[ Wjh^cZhh deedgijc^i^Zh Vh lZaa Vh hj\\Zhi^c\ cZl \gVhhgddih bdYZah d[ XdgedgViZ \ddY X^i^oZch]^e

– Imobiente is a consulting and landscaping micro-firm based in the Algarve region of Portugal. Part of its work involves reconstituting landscapes damaged by current civil engineering projects such as roads and dams. But it also works with foresters and other landowners on much longer-term projects designed to mitigate some of the poor agricultural practices that devastated much of Portugal in the early part of the 20th century. This involves managing the complex interactions of soil structures, micro-organisms and an understanding of the sequence in which plants become established in reconstituted landscapes.

– Oh! Légumes Oubliés has developed a range of businesses on an old family farm on the outskirts of Bordeaux. As its name implies, it produces a range of heritage vegetables and processes them in a variety of ways for sale in France and beyond. On site is an education complex and shop, which has become a well-known tourist destination in its own right.

– Koli National Park in eastern Finland, hard up against the Russian border, has for many years sought to meet its environmental objectives through initiating smallscale, economically viable projects that it then hands on to private-sector SMEs to develop independently. Over the past 15 or so years this has helped create a critical mass of SMEs in an economically underdeveloped part of Finland. Koli calculates that it has directly or indirectly stimulated the creation of about 250 new firms.

– Nordic Shell is a recent start-up operating in Sweden and Norway. It grew out of an E U project on the biological management of pollutants. Waste water with high levels of nitrates stimulates the production of algae when it drains into the sea. The resulting algal bloom can suffocate fish and other seafood. Nordic Shell creates mussel beds in positions where the mussels can feed on the algae before they bloom. It derives its income both from selling high-quality mussels and from the local authorities onshore, which would otherwise have to reduce the nitrogen content of water discharging into the sea under the conditions of the European Waste Water Directives.

What these firms have in common is the generation of profitable income streams through the application of biological knowledge in innovative contexts: the magical Gothenburg + Lisbon combination.

Some outcomes from the project Since a project focusing on the constraints and opportunities affecting pro-biodiversity enterprises was novel, the Probioprise project was, of necessity, exploratory in nature.

How many firms that are currently pro-biodiversity, let alone how many might become so, is unknown.

This meant that robust quantitative studies were difficult to construct. Instead the team focused on qualitative approaches using expert workshops and case study writing to obtain fewer, but deeper, responses in order to pose key questions for future, more extensive work. Indeed, one of the key objectives of the study was to suggest a research agenda that could be explored further by environmentalists and business analysts working together.

One way of summarising this agenda is in terms of three key issues: – Which enterprises should one study and seek to engage with?

– What is the role of pro-biodiversity SMEs within the general European policy context?

– And what kinds of policy-related questions can we now address on the basis of experience gained through the Probioprise project?

Which enterprises?

A definition of pro-biodiversity enterprises is obviously important, and by no means easy, but perhaps less obvious is the appropriate level of analysis. Depending on the situation, analysis of all SMEs, all SMEs in a sector or all SMEs at a site of particular scientific importance might be the choices.

Then there is the question of whether one should “preach to the converted” in policy terms by focussing attention on firms already doing a good job of balancing economic and environmental outcomes or aim at encouraging the laggards to do better? For some purposes, other options such as a supply chain analysis might be appropriate.

General EU-level policy considerations Although the key issue of compatibility between the Lisbon and Gothenburg agendas, and moving towards their synchronicity and convergence is the most obvious one, the scope for attention to be given to pro-biodiversity enterprises in other contexts is also clear. Thankfully, the Common Agricultural Policy (CAP) is now evolving in a way likely to minimise, and possibly even reverse, previous adverse impacts on biodiversity: sometimes the loss of biodiversity in the managed landscape is too easily overlooked.

However, beyond this the study also raised issues in areas as diverse as regional policy, social policy, education and training, and managed networking. Some policy issues seem best approached at the EU level and others at the national, regional or more local level.

The study did not address the way in which these policy levels interact but repeatedly identified bemused owners of SMEs who could identify conflicts between policy objectives at different levels.

'*% I]Z :J EgdW^deg^hZ egd_ZXi ^c i]Z aVhi &* nZVgh ]Vh ]ZaeZY XgZViZ VWdji '*% cZl HB:h ^c V egZk^djhan ZXdcdb^XVaan jcYZgYZkZadeZY eVgi d[ ;^caVcY

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

BVcn Ògbh ^ckdakZY ^c i]Z EgdW^deg^hZ egd_ZXi ign id XdbW^cZ egdÒi bV`^c\! YZa^kZg^c\ hdX^Va WZcZÒih VcY XdchZgk^c\$ Zc]VcX^c\ W^dY^kZgh^in

:e_d] m[bb Xo Ze_d] ]eeZ Wn 9Vk^Y LVi`^chZ

eV\Zh +.U+/

For example, a farm diversifying into rural education and tourism by opening an education centre with a café and shop might find itself subject to new sets of regulations and incentives relating to health and safety, retailing, educational accreditation, tourism standards and restrictions on new buildings.

Building towards new research.

Probioprise identified examples of both regulations and incentives being used to pursue policy in many environmental areas. Moreover, regulation can be a very effective inducement to innovation, although the path may not be as predictable.

The Nordic Shell case, for example, showed how the desire to clean up urban waste water led eventually to the formation of a firm supplying both a biological solution to the supply of the relevant environmental service and high-quality foodstuffs. This could never have been predicted by those drafting the original waste water Directives in Brussels. Further studies might identify similar examples and even patterns that could directly influence more effective policy making.

One unexpected outcome was the scope for further research from a really diversified set of disciplines, including many represented in European business schools. Thus the experience of Nordic Shell raised issues worthy of further study by economists and finance specialists as well as political scientists. The long time scales over which the operations of Imobiente take effect could engage the attention of economic historians as well as environmental scientists. Koli and Oh!Légumes Oubliés raised issues of interest to geographers, tourism scholars and family business specialists among others.

Finally, many firms involved in the Probioprise project try to combine profit making, delivering social benefits, and conserving/enhancing biodiversity. Delivering such a “triple bottom line” involves a complex balancing act. Much more needs to be known about how SMEs can be created and sustained to do this successfully.

This involves work on the motivation of founders and managers, how they can best be trained, how such multi-objective firms are best organised, what support mechanisms are needed and so on. As with other issues, the project deliberately raised many more questions than it could answer. However, further work in this area could have beneficial spill-over effects for other kinds of environmentally oriented firms, for social enterprise, and for understanding and support for SMEs generally.

78EKJ J>; 7KJ>EH

9Vk^Y LVi`^ch ^h Egd[Zhhdg d[ BVcV\ZbZci 9ZkZadebZci Vi Hdji]Vbeidc 7jh^cZhh HX]dda ^c i]Z J@ VcY Xdcig^WjiZY hZkZgVa d[ i]Z XVhZ hijY^Zh id i]Z EgdW^deg^hZ egd_ZXi# EgdW^deg^hZ Egd_ZXi ÒcVcXZY jcYZg i]Z +i] ;gVbZldg` Egd\gVbbZ# 8dcigVXi %&-(*+ Ä 8gZVi^c\ V :jgdeZVc EaVi[dgb [dg HB:h VcY di]Zg hiV`Z]daYZgh id YZkZade V gZhZVgX] egd\gVbbZ [dg egd"W^dY^kZgh^in Wjh^cZhh >chigjbZci/ HeZX^ÒX Hjeedgi 6Xi^dc I]ZbVi^X Eg^dg^in/ Eg^dg^in &#&#+#( <adWVa 8]Vc\Z VcY :XdhnhiZbh HiVgi YViZ d[ egd_ZXi/ )#&%#'%%*# 9jgVi^dc/ '' bdci]h ;cW_b/ YVk^Y#lVi`^ch5hdaZci#VX#j`

I]Z i]gZZ gÉh/

G^\djg! gZaZkVcXZ VcY gVeegdX]ZbZci E>:GG: 7:GI=DC 6C9 7D7 <6AA>:GH 6G<J: ;DG 6 G:I=>C@ D; 6869:B>8 G:H:6G8= >CID 7JH>C:HH EGD7A:BH >c V gZXZci :Xdcdb^hi e^ZXZ ÆEgVXi^XVaan >ggZaZkVciÇ! i]Z gZaZkVcXZ d[ VXVYZb^X gZhZVgX] id Wjh^cZhh ^h fjZhi^dcZY# GZhZVgX] ^h X]VgVXiZg^hZY Vh fjVci^iVi^kZ! ]nedi]Zh^h" Yg^kZc VcY ZhdiZg^X Ä VcY jc^kZghVaan jcgZVY Wn bVcV\Zgh# I]Z hjeedhZY hdaji^dc d[ ÆigVchaVi^c\Ç i]Z ZhdiZg^X ^cid i]Z egVXi^XVa k^V XdchjaiVcih VcY Wjh^cZhh hX]dda iZVX]^c\ ^h fjZhi^dcZY# >c ^ih eaVXZ gZhZVgX] WVhZY dc VXijVa Wjh^cZhh egVXi^XZ ^h hj\\ZhiZY Ä i]dj\] hjX] gZhZVgX] ^h ine^XVaan cdi VXXZeiZY Wn bVcn aZVY^c\ _djgcVah#

There is a major problem with academic research and much of it is indeed of limited use to practising managers. However, some careful analysis of the causes is required before arriving at a solution: research based solely on business practice can be “irrelevantly practical” with its own set of problems – limited and questionable general applicability, ignoring the search for underlying mechanisms and a lack of scientific rigour.

In an ideal world, a managerial problem would drive academics to look for underlying causes, and in turn solutions, the knowledge of which is then disseminated. However, this view is the exact opposite of what de facto is the case of research in academia. The vehicles of dissemination (the

journals) dictate solutions – appropriate topics, methods, tools and theories – which in turn drive the selection of causes and problems which “fit”.

The managerial criterion of “that’s useful” or even the once vaunted intellectual criterion of “that’s interesting”, have little role in this process.

So, on the one hand we have real-world problems which cross disciplines and often need new tools and theories, and on the other hand we have journals that are discipline based (the more prestigious the more narrowly disciplinary), driven not only by theory, method and tools, but a dominant sub-set of theories, method and tools. The result of this form of academic “establishment” may be greater rigour, but questionable relevance.

We would argue that the current “establishment” and the associated processes are not broken; they are simply inappropriate. No amount of “translation” will solve the problem. For as many academics will privately admit any gem of a finding arising from academic research will typically have many of the “it depends” caveats and qualifications required by the journal editors so as to render it of little use in practice.

There is hope, however. European journals are typically more open to diverse topics, methods and theories when compared to US journals.

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

H_]ekh" h[b[lWdY[ WdZ hWffheY^[c[dj Wn E^ZggZ 7Zgi]dc VcY 7dW <Vaa^Zgh eV\Zh ,&U,'

ACADEMICS

THEORY

“That’s logical”

Deductive

Informs (secondary)

UNIVERSE OF POTENTIAL BUSINESS RESEARCH PROBLEMS

Inductive

Informs (primary)

Informs (primary)

Subset of problems selected for research

“That’s interesting”

Research

Informs (secondary)

Theoretical fit

Selection by top Journals

Explanatory / Predictive Power

Practical fit

“That’s useful”

PRACTITIONERS

PRACTICE

Primary impact

Secondary impact

<_]kh[ '0 GZhZVgX] Ä EgdXZhh VcY 9g^kZgh

Indeed the EFMD’s EQUIS accreditation guidelines strongly urge institutions to demonstrate the practicality of their research. And this advice has led to some universities integrating and dissolving traditional academic departments and blurring disciplinary boundaries. In addition, we see a number of interdisciplinary management journals beginning to flourish – journals that speak to both practitioners and academics.

An overview of the research process and its drivers is provided in Figure 1 above. From this we can begin to rethink the process towards some sort of rapprochement.

Figure 1 illustrates the mutually dependent nature of research and practice that is too often missing in the academic landscape. We argue that, to quote Lewin (1945), “nothing is so practical as a good theory”.

Academic research in an applied field such as business should be applied.

It should stem from fieldwork and be tested in the field. Its impact should be measured less by the number of citations in academic journals and more by the impact it has on practice. The relative impact of primary and secondary factors in Figure 1 needs to be carefully rethought.

Please, though, allow us one caveat. Let us not confuse practical lessons with the many superficial “best practice” claims found in the practitioner

literature. Best for whom? When? And in what context? These questions require posing – and answering – if the theory is indeed “good”.

Mark Twain said: “To every complex problem, there’s a simple solution that doesn’t work” Let’s treat the complexity of today’s business environment with the seriousness it deserves. And this requires serious, boundary-spanning research that draws from and impacts on business practice.

What is missing in the rigour – relevance debate is judgment. Aristotle identified three components to excellence: techne – the craft of the practical; episteme – the science of knowledge; and phronesis – the art of judgment. Business excels at techne – academia at episteme. Sadly, all too often, both fail at phronesis. It is this third missing element– judgement – that is most needed in today’s world.

78EKJ J>; 7KJ>EHI

E^ZggZ 7Zgi]dc ]daYh i]Z 8a^[[dgY ; NdjhZ 8]V^g d[ BVg`Zi^c\ 7dW <Vaa^Zgh ^h Egdkdhi VcY K^XZ EgZh^YZci [dg 6XVYZb^X 6[[V^gh Wdi] VgZ Vi 7ZciaZn 8daaZ\Z! LVai]Vb! BVhhVX]jhZiih! JH# lll#WZciaZn#ZYj

6>:H:8Éh +% nZVgh d[ VXi^kVi^c\ aZVYZgh]^e 6AADL>C< NDJC< E:DEA: ID I6@: 68I>K: A:69:GH=>E GDA:H >H EGDK>C< 6C >BEDGI6CI 69?JC8I ID 6869:B>8 EGDL:HH H6NH B>8=:AA: <6AA6CI L^i] i]Z ^cXgZVh^c\ egZhhjgZ [dg \ddY VXVYZb^X eZg[dgbVcXZ VcY i]Z ÆcZZYÇ [dg V YZ\gZZ! hijYZcih idYVn heZcY i]Z^g i^bZ add`^c\ i]gdj\] Wdd`h i]Vi l^aa ]Zae i]Zb id hZXjgZ ]^\] \gVYZh VcY deZc Yddgh id V \ddY _dW dcXZ i]Zn \gVYjViZ# 7ji 6>:H:8! Vc ^ciZgcVi^dcVa eaVi[dgb YZh^\cZY id Vaadl ndjc\ eZdeaZ id Y^hXdkZg VcY YZkZade i]Z^g ediZci^Va VcY ]VkZ V edh^i^kZ ^beVXi ^c hdX^Zin! WZa^ZkZh i]Vi ^h cdi Zcdj\]#

AIESEC, the world’s largest student organisation with a presence in over 100 countries, instead argues that practical work experience is an essential complement to academics. The leadership development platform for youth that AIESEC runs, called the AIESEC Experience, offers practical opportunities to lead a team, project manage and work in an international environment – elements that employers are seeking.

AIESEC has been offering such experiences to students for over half a century – it will celebrate its 60th anniversary this year. An estimated 800,000 members have had the opportunity to be part of AIESEC throughout its history and many AIESEC alumni have gone on to be heads of state, top CEOs or business executives.

Martin Bean, General Manager – Education Strategy, Products and Solutions for Microsoft and an AIESEC alumnus, says he would not be where he is today without the experience he had in AIESEC. Bean was President of AIESEC International in 1986-1987 and responsible for leading a global organisation in his early 20s.

Today AIESEC has over 23,000 members from 1,100 universities around the world and offers over 5,000 leadership experiences each year

:;B9 <adWVa ;dXjh KdajbZ %'T?iik[ &' (&&.

7?;I;9Êi ,& o[Whi e\ WYj_lWj_d] b[WZ[hi^_f Wn B^X]ZaaZ <VaaVci

eV\Zh ,(U,)

6c Zhi^bViZY -%%!%%% bZbWZgh ]VkZ ]VY i]Z deedgijc^in id WZ eVgi d[ 6>:H:8 i]gdj\]dji ^ih ]^hidgn VcY bVcn 6>:H:8 Vajbc^ ]VkZ \dcZ dc id WZ ]ZVYh d[ hiViZ! ide 8:Dh dg Wjh^cZhh ZmZXji^kZh

'(!%%% 6>:H:8 ]Vh dkZg '(!%%% bZbWZgh [gdb &!&%% jc^kZgh^i^Zh VgdjcY i]Z ldgaY

at the local, national, regional and international level. Divyanshu Nagpal, 21, Manager – Branding and Public Relations of AIESEC in India, sums up the experience he has enjoyed so far in AIESEC:

such an environment enhances your creativity, innovation and problem solving skills. I am sure these experiences will only benefit me in my future career.”

“My experience with AIESEC has been extremely enriching, where I have put my theoretical knowledge into practice. I have played a large part in carrying out national marketing campaigns in India. I have met top executives of some of the leading organisations, worked on challenging projects, travelled to places around the world and have friends from across the globe.”

Sampreeth Reddy, President of AIESEC in India, agrees that the experience he is gaining in AIESEC is very worthwhile in terms of his future career.

Through the integrated experience that AIESEC provides, members not only develop their leadership skills but also cultural sensitivity, team management and entrepreneurial skills. One of the essential components of the AIESEC Experience is going on an international internship, allowing members the opportunity to live and work abroad in their field of study.

Internships are facilitated by AIESEC members, from finding organisations interested in taking international interns, matching them with qualified students interested in going on exchange as well as cultural preparation and reception for the intern when they arrive.

“Living and working in another country is one of the most incredible learning opportunities I have ever experienced,” says one student who spent six months working in Turkey on an AIESEC internship. “The level of responsibility I was given at the Chamber of Commerce where I worked was incredible. I learned so much, though the day-to-day interactions with my co-workers and the local people in Gaziantep is what taught me the most. Being in a country where you do not speak the language is naturally challenging but finding solutions to how to work in

At only 22, Mr Reddy is currently handling a team of 14 members at the national office and overseeing the activities of 15 different local chapters across the country. Coming from the technology city of Hyderabad, he has a degree in engineering and looks forward to setting up his own entrepreneurial venture in the future.

“It feels great to be a ‘Global Indian’ and travel the world as the brand ambassador of the country,” he says. “There were days when I used to learn in school that it is a great responsibility to represent your country in an alien environment. Through AIESEC I have lived this responsibility and now want to play a more important role in impacting global thought when it comes to youth issues.

“I have friends from 100 different countries and I know top executives from 74 different global and national organisations. I have travelled to more than 20 countries and have been a part of the biggest youth congregations around the world.”

Advait Gupt, Vice President External Relations for AIESEC in India, is currently living a comparable unique experience. Also 22, Mr Gupt has experienced life in the corporate world first hand, great experience after finishing his degree in business administration in Mumbai.

:;B9 EFMD

JeXdb^c\ ZkZcih ^c '%%<eh ceh[ Z[jW_b[Z _d\ehcWj_ed" fb[Wi[ l_i_j ekh m[Xi_j[ mmm$[\cZ$eh] kdZ[h Yed\[h[dY[i b[Whd_d] ]hekfi eh [cW_b _d\e6[\cZ$eh]

<[XhkWho (&&.

CWhY^ (&&.

7fh_b (&&.

;L;DJ

;L;DJ

;L;DJ

'%%- BZZi^c\ [dg 9ZVch VcY 9^gZXidgh <ZcZgVa

6Yk^hdgn HZgk^XZh HZb^cVg

'%%- :;B9 B76 8dc[ZgZcXZ

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

&% Ă&#x201E; && BVgX] $ :;B9 EgZb^hZh! 7gjhhZah

( Ă&#x201E; ) 6eg^a $ B^aVc! >iVan

(& ?VcjVgn Ă&#x201E; & ;ZWgjVgn $ 8deZc]V\Zc! 9ZcbVg`

J>;C;

J>;C;

IgZcYh VcY 7Zhi EgVXi^XZ ^c :mZXji^kZ :YjXVi^dc

B^c^c\ i]Z KVajZ Egdedh^i^dc Ă&#x201E; :beadnVW^a^in d[ B76h

J>;C;

$7367DUE ;97EF

:c\V\ZbZci >ccdkVi^dc

>EIJ

>EIJ

H96 7dXXdc^ 7jh^cZhh HX]dda

8deZc]V\Zc 7jh^cZhh HX]dda

;L;DJ

;L;DJ

;L;DJ

>cY^k^YjVa BZbWZgh BZZi^c\

'%%- :miZgcVa GZaVi^dch BZZi^c\

6Yk^hdgn HZgk^XZh HZb^cVg

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

) 6eg^a

+ Ă&#x201E; - 6eg^a $ IVaa^cc! :hidc^V

&) Ă&#x201E; &* 6eg^a $ :;B9 EgZb^hZh! 7gjhhZah

>EIJ

J>;C;

J>;C;

:;B9

LZ VgZ Vaa ^ciZgcVi^dcVa cdl Ă&#x201E; Hd l]Vi4

>ciZ\gVi^c\ 8dgedgViZ GZhedch^W^a^in ^cid

>EIJ

:hidc^Vc 7jh^cZhh HX]dda

The Economist provides Europeâ&#x20AC;&#x2122;s business leaders, current and future, with timely insight that helps them to succeed in todayâ&#x20AC;&#x2122;s complex global marketplace.

7R DGYHUWLVH \RXU FRXUVHV WR DQ DXGLHQFH RI PLOOLRQ LQWHOOLJHQW DQG DIĂ XHQW UHDGHUV please contact Philip Wrigley on +44 (0) 20 7830 7000 or philipwrigley@economist.com.

ndjg :FJ>H 6XXgZY^iVi^dc EgdXZhh

CWo (&&.

@kd[ (&&.

;L;DJ

;L;DJ

;L;DJ

6Yk^hdgn HZgk^XZh HZb^cVg

6Yk^hdgn HZgk^XZh HZb^cVg

'%%- 6ccjVa 8dc[ZgZcXZ

:7J;I % L;DK;

:7J;I % L;DK;

:7J;I % L;DK;

'* 6eg^a $ :;B9 EgZb^hZh! 7gjhhZah

&+ BVn $ :;B9 EgZb^hZh! 7gjhhZah

- Ă&#x201E; &% ?jcZ $ Dhad! CdglVn

J>;C;

J>;C;

>EIJ

=dl id 9ZkZade :cigZegZcZjgh4 ;dhiZg^c\ >ccdkVi^dc VcY :cigZegZcZjg^Va 6ii^ijYZh

>ciZgXjaijgVa >hhjZh Ă&#x201E; =dl id DeZgViZ ^c 6h^V ^c XdaaVWdgVi^dc l^i] i]Z :jgdeZVc 8ZcigZ [dg HigViZ\^X BVcV\ZbZci d[ Jc^kZgh^i^Zh :HBJ

7> CdglZ\^Vc HX]dda d[ BVcV\ZbZci

I[fj[cX[h

EYjeX[h (&&.

;L;DJ

;L;DJ

'%%- :;B9 JcYZg\gVYjViZ BVcV\ZbZci :YjXVi^dc 8dc[ZgZcXZ

'%%- :mZXji^kZ :YjXVi^dc BZZi^c\

:7J;I % L;DK;

&' Ă&#x201E; &) DXidWZg $ A^hWdc! Edgij\V

&, Ă&#x201E; &. HZeiZbWZg $ 7VWhdc EVg`! B6! JH6

>EIJ

J>;C;

Jc^kZgh^YVYZ 8ViÂ&#x2039;a^XV Edgij\jZhV! ;VXjaYVYZ YZ 8^Â&#x201E;cX^Vh :XdcÂ&#x2039;b^XVh Z :begZhVg^V^h

;gdb Deedgijc^in id 6Xi^dc/ 9ZkZade^c\ :cigZegZcZjgh i]gdj\] JcYZg\gVYjViZ BVcV\ZbZci :YjXVi^dc >EIJ

7VWhdc 8daaZ\Z

:7J;I % L;DK;

mmm$[\cZ$eh]

KdajbZ %'T?iik[ &' (&&.

;<C:

Global Gateway

EFMD

Â&#x153;Ă&#x20AC;`Â&#x2C6;Ă&#x160; >Â&#x2DC;>Â?Ă&#x192;]Ă&#x160; i>Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160;*Ă&#x20AC;Â&#x153;viĂ&#x192;Ă&#x192;Â&#x153;Ă&#x20AC;

KdajbZ %'T?iik[ &' (&&.

â&#x20AC;&#x2122;â&#x20AC;&#x2122;

F^ed[0 (' ' +'. %- &% <Wn0 (' ' +'. %- &&

;cW_b0 ^c[d5Z[bY#dg\

perspective on the global landscape through the best available student-assessment process and unique data about market trends.

=beXWb <eYki

ÂŽ

;<C: V^hWa

GjZ <VX]VgY -- Ă&#x201E; 7dm ( &%*% 7gjhhZah 7Za\^jb

The Graduate Management Admission â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;Council offers business schools a top-quality

B_\[ Wj j^[ jef A[bbe]]Ă&#x160;i :[Wd :_fWa @W_d ed Xki_d[ii iY^eeb ]el[hdWdY[" j^[ \kjkh[ e\ j^[ C87" Z[ce]hWf^_Yi WdZ ijWo_d] ed jef e\ j^[ hWda_d]i

- Ă&#x160; Ă&#x2022;Ă&#x192;Â&#x2C6;Â&#x2DC;iĂ&#x192;Ă&#x192;Ă&#x160;-VÂ&#x2026;Â&#x153;Â&#x153;Â?]Ă&#x160; >Ă&#x20AC;ViÂ?Â&#x153;Â&#x2DC;>]Ă&#x160;-ÂŤ>Â&#x2C6;Â&#x2DC;

GMAC ÂŽ PROVIDES: Research that yields data on application volume, employer hiring plans, and other graduate business education topics.

A pipeline of potential business students from over 180 countries to connect you with your next class.

The GMATÂŽ, the most reliable predictor of academic student success, used by more than 4,000 programs worldwide.

OUR PERSPECTIVE ENCOMPASSES THE WORLD. 5P MFBSO NPSF BCPVU (."$ Â&#x2C6; HP UP XXX HNBD DPN HMPCBM

?DI?:; J>?I ?IIK; CWa_d] j^[ ceij e\ ?J BVgi^c 8jgaZn add`h Vi ]dl id VhhZhh i]Z Wjh^cZhh kVajZ d[ >I

^Ă&#x160;Ă&#x201C;äänĂ&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â? Ă&#x160;­ Ž°Ă&#x160; Â?Â?Ă&#x160;Ă&#x20AC;Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x192;Ă&#x160;Ă&#x20AC;iĂ&#x192;iĂ&#x20AC;Ă&#x203A;i`°Ă&#x160; Ă&#x20AC;i>Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160; VViĂ&#x192;Ă&#x192;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; Ă&#x2022;Ă&#x192;Â&#x2C6;Â&#x2DC;iĂ&#x192;Ă&#x192;Ă&#x160; `Ă&#x2022;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă ]Ă&#x160; Ă ]Ă&#x160; /Ă ]Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â?Ă Ă&#x160;>Â&#x2DC;`Ă&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;/iĂ&#x192;Ă&#x152;Ă Ă&#x160; >Ă&#x20AC;iĂ&#x160;Ă&#x20AC;i}Â&#x2C6;Ă&#x192;Ă&#x152;iĂ&#x20AC;i`Ă&#x160;Ă&#x152;Ă&#x20AC;>`iÂ&#x201C;>Ă&#x20AC;Â&#x17D;Ă&#x192;Ă&#x160;Â&#x153;vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160; Ă&#x20AC;>`Ă&#x2022;>Ă&#x152;iĂ&#x160; >Â&#x2DC;>}iÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; `Â&#x201C;Â&#x2C6;Ă&#x192;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x153;Ă&#x2022;Â&#x2DC;VÂ&#x2C6;Â?Ă Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;1Â&#x2DC;Â&#x2C6;Ă&#x152;i`Ă&#x160;-Ă&#x152;>Ă&#x152;iĂ&#x192;Ă&#x160;>Â&#x2DC;`Ă&#x160;Â&#x153;Ă&#x152;Â&#x2026;iĂ&#x20AC;Ă&#x160;VÂ&#x153;Ă&#x2022;Â&#x2DC;Ă&#x152;Ă&#x20AC;Â&#x2C6;iĂ&#x192;° ÂŁĂ&#x2C6;ääĂ&#x160;/Ă&#x17E;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x192;Ă&#x160; Â&#x153;Ă&#x2022;Â?iĂ&#x203A;>Ă&#x20AC;`]Ă&#x160;-Ă&#x2022;Â&#x2C6;Ă&#x152;iĂ&#x160;ÂŁ{ää]Ă&#x160; V i>Â&#x2DC;]Ă&#x160;6Â&#x2C6;Ă&#x20AC;}Â&#x2C6;Â&#x2DC;Â&#x2C6;>Ă&#x160;Ă&#x201C;Ă&#x201C;£äĂ&#x201C;Ă&#x160;1- °Ă&#x160;ÂŁÂ&#x2021;Ă&#x2021;äĂ&#x17D;Â&#x2021;Ă&#x2021;{Â&#x2122;Â&#x2021;ä£Ă&#x17D;ÂŁ]Ă&#x160;Ă&#x153;Ă&#x153;Ă&#x153;°}Â&#x201C;>V°VÂ&#x153;Â&#x201C;]Ă&#x160;Ă&#x153;Ă&#x153;Ă&#x153;°Â&#x201C;L>°VÂ&#x153;Â&#x201C;° Ă

EFMD_Ad_v06.indd 1

Ă

12/7/07 11:08:27 AM

G7 _d j^[ YbWiiheec 8]g^h <gZZchiZY hVnh Wjh^cZhh hX]ddah cZZY fjVa^in VhhjgVcXZ

>em je X[ W b[WZ[h ?d]c G GnVc! cZl ]ZVY d[ 88A! ZmeaV^ch l]Vi ^i iV`Zh id aZVY

;dj[hfh_i[ ;khef[ IZV EZig^c djia^cZh l]n :jgdeZ cZZYh ZcigZegZcZjgh]^e

Ef[d mehbZ G^X]VgY HigVjW Vg\jZh i]Z ldgaY cZZYh Ă&#x2C6;deZccZhhĂ&#x2030;

9kbjkhWb Y^Wd][ H]Vgdc IjgcWjaa dc ]dl id bVcV\Z XdgedgViZ XjaijgZ