EFMD Global Focus Vol 08 Issue 3 - Challenges Facing Business School Accreditation

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Volume 08 | Issue 03 | 2014

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Volume 08 | Issue 03 | 2014

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INSIDE THIS ISSUE Good value Agreeing and embedding what is right

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All that jazz Jamming is not enough for intrapreneurs

SMS for life A message to help rid us of malaria

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Things are definitely looking up

Doctor, doctor Does the PhD need treatment?

Open book A new leaf for academic libraries

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2015 EFMD Conference for International & External Relations, PR, Marketing, Communication & Alumni Professionals 25-27 March 2015

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Understanding, identifying and building a distinctive business school brand An essential event for all International and External, PR, Marketing, Communication and Alumni Professionals in business schools.

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In focus

EFMD Global Focus: Volume 08 Issue 03 | 2014

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Volume 08 Issue 03 | 2014

In focus

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e begin this issue with an article by EFMD’s Michael Osbaldeston. In it he offers insight into the EFMD accreditation process and how accreditation can, and is, helping business schools respond to many of the challenges and criticisms facing the sector.

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He writes: “Challenge arises both from schools that have failed to achieve accreditation, leading to criticism of elitism, and from schools that have been regularly re-accredited, searching for added value contributions to their improvement processes.

“Inevitably, since EQUIS was a system originally designed within a European context, there is challenge to its applicability in other regions of the world, particularly in rapidly emerging economies.

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“Further challenge stems both from innovators who are experimenting at the forefront of learning, particularly with new technologies and those who are more concerned with improving the status quo”.

Osbaldeston concludes that resolving these challenges will be a key facet of EFMD’s future progress. In particular, he recognises a growing need for guidance to assist schools to gain EQUIS or EPAS accreditation.

Go to www.efmd.org/ globalfocus to access the online library of past issues

The rest of this issue contains the usual eclectic mix of analysis, comment and reportage.

On page 14, for example, Mark Moody-Stuart looks at how to ensure that the right values are agreed, understood and truly embedded in a large multicultural business organisation.

As a former Managing Director of the Royal Dutch/Shell Group in the 1990s he handled Greenpeace opposition to plans to dispose of an oil storage buoy in the Atlantic and the controversy surrounding the execution in Nigeria of Ken Saro Wiwa, an outspoken critic of Shell.

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It is vital, he writes, that “values are not just slogans on the wall but are actually regarded as an essential part of day-to-day corporate life”.

Meanwhile, on page 56 Thomas Bieger explains how the University of St Gallen in Switzerland used EFMD’s new Business School Impact Survey to consolidate and build on its local roots.

Finally, on pages 48 and 36, Simon Linacre, and Donald Marchand and Anna Moncef respectively report on why we should not yet write off the PhD degree and how mobile phones helped tackle a malaria crisis.

We hope you enjoy this edition – and let us know any comments!

We are always pleased to hear your thoughts on Global Focus, and ideas on what you would like to see in future issues.

Please address comments and ideas to Matthew Wood at EFMD: matthew.wood@efmd.org

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Volume 08 Issue 03 | 2014

Contents Global Focus The EFMD Business Magazine

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Executive Editor Matthew Wood matthew.wood@efmd.org

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Advisory Board Eric Cornuel Howard Thomas John Peters Consultant Editor George Bickerstaffe georgebickerstaffe@gmail.com Contributing Editors Amber Wigmore Alvarez Thomas Bieger David Grayson Daniel Gunnarsson Mike Johnson Christophe Lejeune Simon Linacre Peter Lorange Donald Marchand Melody McLaren Anna Moncef Mark Moody-Stuart Boris Nowalski Michael Osbaldeston Anne-Joëlle Philippart Jimmi Rembiszewski Michelle Sparkman Renz Andrew Rutsch Heiko Spitzeck Design & Art Direction Jebens Design www.jebensdesign.co.uk Photographs & Illustrations © Jebens Design Ltd / EFMD unless otherwise stated Editorial & Advertising Matthew Wood matthew.wood@efmd.org Telephone: +32 2 629 0810 EFMD aisbl Rue Gachard 88 – Box 3 1050 Brussels, Belgium

In focus

The challenges facing business school accreditation Business schools have been among the most successful higher education institutions of the last 50 years. Yet now they face many serious challenges that, as Michael Osbaldeston explains, have deep implications for accreditation bodies

14 Embedding values Mark Moody-Stuart examines the difficulties of ensuring that the right values are agreed, understood and truly embedded in a large multicultural business organisation

18 The Jazz Age Social intrapreneurs are rarely individual heroes but more like jazz musicians jamming in a group. But sometimes, say David Grayson, Melody McLaren and Heiko Spitzeck, they need even bigger groups – a fully orchestrated ‘big band’

24 Enhancing talent development and talent acquisition Amber Wigmore Alvarez and Boris Nowalski describe current changes to the way companies and business schools manage talent

28 How being embedded in your region helps growth Thomas Bieger explains how the University of St Gallen used the new Business School Impact Survey to consolidate and build on its local roots

32 From EPAS to EQUIS and AACSB…and from AACSB to EPAS Anne-Joëlle Philippart explains how the mix of EFMD and AACSB accreditation models helped achieve a rapid improvement of the quality assurance system at HEC-Liege

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36 The case for inspiration Donald Marchand and Anna Moncef discuss the lessons to be learned from the SMS for Life initiative

Contents

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Making the most of the hiring process The latest Corporate Recruiters Survey offers a positive MBA hiring landscape and highlights what is most important for employers in the process. Christophe Lejeune and Michelle Sparkman Renz report

The new approach to growth and profitability that business schools need Peter Lorange and Jimmi Rembiszewski argue that business schools must react more urgently to a new type of student

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Business school libraries – where next?

Daniel Gunnarsson describes the major changes that technology has made possible in business school libraries. And speculates about other changes that are still to come

Solving the global talent equation Mike Johnson offers some thoughts on the challenges facing business leaders tasked with managing our organisations today and tomorrow

48 Reinvigorating the PhD PhDs are increasingly under scrutiny for being ‘irrelevant’ and ‘lacking impact’. But given the right tools, Simon Linacre believes that they still have much to offer

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60 Strategic leadership and new ways of working to drive organizational growth – the UniCredit approach Andrew Rutsch explains how Italian banking group UniCredit turned to strategic leadership and new ways of working in a bid to drive organisational growth

P44 Mike Johnson explains how the ‘human age’ requires business leaders to have the right people in the right places to successfully manage our organisations today and tomorrow

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WWW.EFMD.ORG/EIP

THE EFMD EXCELLENCE IN PRACTICE AWARDS (EIP) CALL FOR ENTRIES

The EFMD Excellence in Practice Awards (EiP) recognise outstanding and impactful Learning & Development partnerships in the domains of Leadership, Professional, Talent and Organisation Development.

The EFMD Excellence in Practice Awards attract case studies describing an effective and impactful Learning and Development (L&D) initiative between partner organisations.

The L&D programme can be deployed by an organisation either together with its in-house Learning & Development unit or with external L&D providers.

Award Winning Cases must demonstrate: – Strong Business Impact – Excellent Programme Management – Operational Excellence

The programme we have created with Ashridge is really helping our key talents to be our leaders for the future. We still have many great challenges ahead to realise our ambition, so we are grateful for the extra energy this 2014 EiP Gold Award gives us Willem van der Lee Corporate Director of Talent FrieslandCampina

Deadline for Submission: 30 March 2015 For more information on the assignment brief, submission guidelines and FAQs visit www.efmd.org/eip Contact: florence.gregoire@efmd.org

Excellence in Practice Awards: Call for entries

EFMD Global Focus: Volume 08 Issue 03 | 2014

PREVIOUS EiP WINNERS

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THE EIP AWARDS ALLOW PARTNERSHIPS TO:

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Writing the case study really helped us to reconnect to the challenge and impact of the programme we were running. It was great to step back and look at it from a distance in partnership with the client EiP participant 2014

Amsterdam Business School ArcelorMittal Ashridge Business School Atos BAE Systems Bentley University CEAGA Center for Creative Leadership (CCL) Chicago Booth School of Business Danone Danske Bank EDF Emerging World FrieslandCampina Goldman Sachs HEC Paris HSBC IMD Impact INSEAD ING KickApps Startup Lake Forest Graduate School of Management Leeds University Business School London Business School Lonza Lufthansa MAN Merck Microsoft ORMIT Pon Holdings Prism Venture Capital Promsvyazbank (PSB) RBS (Royal Bank of Scotland) Royal Philips Electronics Saïd Business School (University of Oxford) Siemens State Street Corporation SSE IFL Executive Education Stora Enso Swiss Re The National Trust The Wharton School ‘the world we work in’ TMA World Toulouse School of Economics UMass Boston University Medical Center Groningen University of St. Gallen WHU, Otto Beisheim School of Management

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EFMD / EURAM

Research Leadership Programme Cycle 5 MODULE 1: THE LONG VIEW – STRATEGY

This three-module programme is aimed at newly-appointed Research Managers or those aspiring to hold the position in the near future.

Strategy of the Business School and how research fits with it, Developing a research culture and building architecture of research support, Business in society, The role of PhD programmes, Business Schools’ links with industry.

Research Leadership Programme

The Research Leadership programme offered a great opportunity to share insights and perspectives with colleagues from across Europe. I was struck by the diversity of contexts in which we operate but also the similarity of challenges we face in our roles as research directors. The programme was greatly enriched by stimulating inputs from prominent figures in the European management research community Alistair Bruce Nottingham University Business School

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MODULE 1

11-12 December 2014 MODULE 2

3-4 February 2015 MODULE 3

April 2015 (dates TBC)

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Since the launch of the RLP, over 50 participants representing 18 different countries have taken part in the programme

MODULE 2: THE SCHOOL VIEW – ORGANISATION OF RESEARCH ACTIVITIES

MODULE 3: THE PRACTICAL VIEW – RESOURCES AND CAPABILITIES

Strategic choices – Large scale collaborative research, Evaluation of research outputs with respect to strategy, Organisation for innovation, Defining and implementing a research strategy, Rankings, and Managing research under-performance.

Meet the editors, EU research activities, Research integrity, and Open innovation. The third module is immediately followed by an Alumni Day to which all the past participants in the programme are invited to attend.

VENUE All three modules will be held at the EFMD premises in Brussels, Belgium. Attendance is required at all three modules.

MORE INFORMATION For more information about the programme, fees and registration can be found on the EFMD website: www.efmd.org/rlp Please note that a limited number of participants are accepted into the programme. The Early Bird fee is applied to all registrations received prior to 1 November 2014.

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Business schools have been among the most successful higher education institutions of the last 50 years. Yet now they face many serious challenges that, as Michael Osbaldeston explains, have deep implications for accreditation bodies

The challenges facing business school accreditation by Michael Osbaldeston

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usiness schools have existed for over a century, originally as institutions of practical education, which, following the Ford and Carnegie Foundation reports of the 1950s, were gradually recast as serious academic institutions.

More recently, they have spread rapidly from North America, through Europe to Asia and beyond, currently numbering over 13,000, with new additions being launched almost daily, particularly in emerging economies.

Business schools are one of the major success stories in higher education of the last 50 years, both from an academic (faculty, research, qualifications) and a business (customers, revenue, profitability) perspective.

Yet despite this success, critical comment has been growing in recent years, fuelled in part by the recent global economic recession.

These criticisms have been concisely summarised

by Thomas et al in their 2014 EFMD publication Securing the Future of Management Education:

“Critics accuse business schools of doing arcane, irrelevant and impractical academic research; doing a poor job of preparing students for management careers; pandering to the market and the media rankings; failing to ask important questions; and in the process of responding to the demands of their environment, losing claims of professionalisation as they ‘dumb down’ the content of courses, inflate grades to keep students happy and pursue curricula fads”.

If that were not sufficient, others have added charges of being too analytical, insular and theoretical; insufficiently global, integrative and team-oriented; and lacking in values and ethical guidance.

It is hardly surprising then that some leading schools have turned to accreditation to demonstrate their worth and provide quality assurance to their stakeholders.

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EQUIS was conceived as an accreditation system rooted in respect for diversity of institutional and cultural contexts. It promotes no “one best model” of a business school and does not impose standardisation of programme design, course content or delivery mode

The accreditation of management education was initiated by AACSB as far back as 1916, with a focus on North America. AMBA, set up initially as an alumni network, originally concentrated on MBA programmes with a primary focus on the UK. It was not until 1997 that the demand for a European approach to accreditation led EFMD to launch EQUIS, with an initial focus on European schools, and later EPAS, its programme accreditation system.

All three accreditation organisations have expanded internationally, to the point where some 1,000 schools today have achieved one or more of their accreditations.

EQUIS aims to achieve both recognition of and quality improvement in the world’s top business schools – recognition through the award of a quality label that is valued worldwide by students, faculty, employers and the media (often being a prerequisite for entry to rankings) and improvement through the need to meet, and continue to achieve, internationally agreed quality standards.

From the beginning EQUIS was conceived as an accreditation system rooted in respect for diversity of institutional and cultural contexts. It promotes no “one best model” of a business school and does not impose standardisation of programme design, course content or delivery mode.

However, it is firmly grounded on three transversal issues – an international dimension in most of a school’s activities, a strong interface with the corporate world and a philosophy of promoting ethics, responsibility and sustainability, which has been strengthened recently together with a greater emphasis being placed on financial performance and risk management.

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Business schools current number over 13,000, with new additions being launched almost daily, particularly in emerging economies

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All three accreditation organisations (EFMD, AASCB, AMBA) have expanded internationally, to the point where some 1,000 schools today have achieved one or more of their accreditations

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While most pundits generally agree that accreditation has had a positive influence on the quality assessment and improvement of business schools, there are also constant pressures to redefine standards, introduce new areas of assessment and continuously evolve processes to keep abreast of and, if possible, anticipate developments in management education.

Challenge arises both from schools that have failed to achieve accreditation, leading to criticism of elitism, and from schools that have been regularly re-accredited, searching for added value contributions to their improvement processes.

Inevitably, since EQUIS was a system originally designed within a European context, there is challenge to its applicability in other regions of the world, particularly in rapidly emerging economies.

Further challenge stems both from innovators who are experimenting at the forefront of learning, particularly with new technologies and those who are more concerned with improving the status quo.

While virtually all challenge is constructive, leading to a process of continuous improvement of the accreditation system itself, determining the pace of evolution, the degree of inclusivity and the balance of assessment versus development are challenges in themselves!

“Respect for diversity” is a particular case in point.

While EQUIS was designed to embrace diversity at every level – cultural, institutional, portfolio provision and delivery mode – it also reflects the nature of diversity encountered within its originating geographical region. Assessment of quality begins with an understanding of the particularities of the local context.

However, this does not imply a lowering of expectations regarding basic standards because of local constraints. Rather it means that the assessment must accept wide differences in the organisation and delivery of management education.

This potential dilemma resulting from universal standards applied in widely differing contexts is well illustrated by comparing top-level business schools in Europe and China.

The challenges facing business school accreditation by Michael Osbaldeston

A European school can relatively easily recruit international students and faculty, who reflect the enormous diversity within its own geographical region; a Chinese school may attract the highestquality students and faculty from across its culturally diverse country but they are often perceived as largely national in experience and outlook.

A related challenge to accreditation concerns what some commentators have termed “discouragement of innovation”.

They have argued that there has been an overemphasis in the past on codifying best practice rather than on identifying what might be required in the future. Does accreditation actually discourage experimentation? How can we ensure that criteria evolve over time to take account of innovation, particularly in the field of learning technology?

A related issue is the selection and development of peer reviewers themselves, to ensure that diversity of experience and outlook are inherent in their deliberations.

There are no perfect answers to these questions.

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Two issues at the heart of EQUIS that have engendered continuous debate since its foundation are exactly what is meant by the term “internationalisation” and how best to assess “high-quality research”

The separation of design and development of the accreditation system (by the EQUIS Committee) from assessment against the standards (peer review team and EQUIS Awarding Body) is part of the solution. Another is recognition of the critical role played by review team chairmen and consultation on a regular basis with stakeholders (Quality Services Annual Meeting).

Experience has shown that identification by the Committee of areas for revision, followed by the establishment of task forces drawing on specialist expertise from across the world, leading to debate with the whole EFMD membership about proposals for change, is a process which has served EQUIS well.

Some argue that the only reliable measure of research quality stems from publication in top international journals while others see the impact of research output on the business world as a more appropriate method of assessment

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A recent case is the task force that led the development of the new standards on Ethics, Responsibility and Sustainability (ERS); a future example would be the recently established task force on Technology Enhanced Learning (TEL).

Maintaining a “broad church” within the accreditation system while not being overinfluenced by the fads and fashions of the profession is hardly a new challenge for business school deans!

Two issues at the heart of EQUIS that have engendered continuous debate since its foundation are exactly what is meant by the term “internationalisation” and how best to assess “high-quality research”.

Internationalisation is often perceived as being reflected in the nationality mix of students and faculty, together with advisory board members, partner schools and recruiting organisations. While this cultural diversity of a school’s community, as measured by what has become known as “passport counting”, is of course important, a much deeper understanding of internationalisation results from an assessment of how a school has adapted its education and research to an increasingly global managerial world.

Research that explores international challenges, education that incorporates an international curriculum and exposure that encourages international mobility and employment, all provide evidence of true internationalisation.

The issue of high-quality research is perhaps the more controversial question to answer. Some will argue that the only reliable measure of research quality stems from publication in top international journals while others see the impact of research output on the business world as a more appropriate method of assessment.

EQUIS has always defined research as a broad spectrum of intellectual endeavour, ranging from scholarly publications aimed primarily at the academic community, through professionally relevant publications and activities aimed at organisations and business practitioners, to educationally relevant productions aimed at learners and teachers in universities, schools and companies.

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Whether MOOCs are the “monster under the bed” about to revolutionise and replace the traditional business school or merely another contribution to the wide array of teaching and learning methodologies is a hotly debated question

This broad view of research and development encompasses a diverse range of activities concerned with enlarging managerial knowledge and improving business practice. While there is a continuing need to develop more robust evidence and performance metrics, encompassing impact, innovation and engagement, the EQUIS research standards will continue to emphasise this broad approach, where measuring the impact on all user communities is an essential element of quality assessment.

Some other recent business school developments that have affected the EQUIS approach to accreditation include the growth of joint programmes, increasing collaboration and partnerships (often across international boundaries), and the emergence of mergers and other forms of restructuring, some aimed at gaining critical mass and others driven by economic necessity.

Designing new policies to encompass this increasing complexity is both challenging and developmental, but merely reflects the changing world of business education. The explanation for this, of course, ranges from the natural evolution of an established industry adjusting to a period of unprecedented turbulence to the disintegration of a value chain, creating opportunities for new players, products and delivery channels.

One such disruptive possibility concerns the impact of online learning and particularly the advent of MOOCs. Whether these are the “monster under the bed” about to revolutionise and replace the traditional business school or merely another contribution to the wide array of teaching and learning methodologies is a hotly debated question.

However, some of the early hype does seem to have been mitigated, in part by challenges to the underlying business model. Nevertheless, the established approach to the quality assessment of programmes, whether full-time, part-time, modular or blended, will have to evolve as technology enhances or replaces the traditional classroom.

Hence, the establishment by EFMD of the TEL task force referred to earlier and the intention to re-examine the current programme standards.

One final challenge that confronts the accreditation world is whether the process should be primarily about judgment at a particular moment in time, followed by advice for future development, or about guided development at any stage in the process, which may or may not lead to an accreditation outcome. The former is seen by some schools as too judgmental and elitist with the latter viewed as more inclusive and developmental.

As a reflection of EFMD’s values of wishing to provide benefit for the whole business school community it has recognised an increasing need for some form of guidance process to assist schools in achieving either EQUIS or EPAS accreditation. This could contribute at any stage in the process, from gaining eligibility, through undergoing peer review, to post-accreditation development.

The details of this EFMD “gateway” advisory service for accreditation (EGATE) are currently work in progress. But what is obvious so far is that some schools would warmly welcome such advice, provided by experienced advisors and available flexibly over time.

What is equally obvious is that guided development must be entirely independent of the assessment process and carry no guaranteed outcome. While further work is required, this innovation simply adds to the increasing list of many and varied challenges that ensure accreditation remains at the forefront of business school quality assurance and development.

ABOUT THE AUTHOR

Michael Osbaldeston OBE is Director, Quality Services, EFMD. Previously he was Chief Executive of Ashridge Business School in the UK, Head of Global Learning in the HR Corporate Centre of Shell International and Director of Cranfield School of Management in the UK.

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EXPECTED CORPORATE VALUES STANDARD

Embedding values Mark Moody-Stuart examines the difficulties of ensuring that the right values are agreed, understood and truly embedded in a large multicultural business organisation

Embedding values by Mark Moody-Stuart

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once attended a large dinner and discussion at the World Economic Forum in Davos, Switzerland, on standards for not-for-profit organisations. The debate was mainly between the leaders of such organisations asking themselves how they could ensure a common commitment to standards so that a failure in one sphere by one organisation did not tarnish the reputation of the sector as a whole.

One leader of a large not-for-profit said that he was concerned how he could ensure that every one of his 60,000 employees in many different countries were all living up to the values of the organisation.

It is a very valid concern and with some satisfaction I was able to welcome him to the ranks of multinational business and its many challenges.

The test of embedding values in large global organisations comes in several parts: first, establishing and agreeing common values; then making sure that everyone has really taken them on board; and lastly continuously checking that they are alive and well throughout the organisation.

A crisis is often a stimulus for creating or reviewing values. Shell had a well-established and well-embedded “Statement of General Business Principles” developed in the 1970s in response to a corruption scandal in Italy.

In my experience, in the 1990s, if you asked anyone in Shell what the group’s business principles were they would say: “We don’t bribe people and we do not get involved in politics”.

They could say “we” with some confidence because there had been regular discussions on the challenges of working in corrupt environments and people knew of examples of business lost due to a refusal to pay bribes. The policy of not making political payments was also well known.

However, in 1995 two events involving respectively the environment and human rights caused public outrage and shook confidence and self-esteem throughout the organisation.

These events were the reaction triggered by Greenpeace against plans to dispose of a very large oil storage buoy in the deep waters of the Atlantic and the execution in Nigeria of Ken Saro Wiwa, an outspoken critic of Shell’s activities.

In both cases we thought that we had taken all steps in line with our principles but many people were very critical of our actions – or inactions. While we had told “war stories” about corruption, we had previously never spoken explicitly about human rights.

In response to this public concern Shell undertook a global consultation process. Workshops brought people at all levels in the company together with representatives of civil society organisations, the media, academics and political thinkers.

The test of embedding values in large global organisations comes in several parts: first, establishing and agreeing common values; then making sure that everyone has really taken them on board; and lastly continuously checking that they are alive and well throughout the organisation

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Out of this came three amendments to the existing principles: • clarifying our statement on political activity • making commitments on responsibility and support for fundamental human rights • committing to working to embed the principles of sustainable development in our operations If people in an organisation feel that they have been involved in developing principles this helps the process of embedding them. The fact that the self-esteem of many people throughout the organisation had been shaken also meant that there was a receptive climate for discussion. However, a sustained effort is continuously needed to ensure that everyone in the organisation really does understand the implications and consequences of those values.

I believe that it is possible to have values that are shared across many different countries and cultures.

Although a value should remain the same, its expression may vary with culture.

For example, respect for people may be a shared value but how it is expressed in Germany, Japan, Saudi Arabia or the US may be very different. At its simplest, the same individual might be happy to be called Hiroshi-san in Japan, “Bobby” Hiroshi in the US and Herr Dr Hiroshi in Germany.

In another example, the concept of an individual’s right to a fair trial is generally accepted around the world. In the UK I regard a jury as being a very important part of this process. Yet in the Netherlands the idea of involving 12 “amateurs” off the street as an essential component of justice can be regarded as slightly bizarre. Yet within either national context I would be confident of a fair trial.

Both positive and negative examples are powerful.

If an individual who delivers outstanding business results but in the process reduces men and women to tears or to severe psychological distress is not checked, any expressed value of treating people with respect becomes worthless, probably along with all other values as well.

If such individuals cannot be persuaded to alter their behaviour, they must either be put in positions where they cannot interact with subordinates or others in a destructive way or else they must leave the organisation. If people see no action being taken, they will rightly assume that the true value is delivering financial results regardless of the method.

It is not enough simply to send out a message from the top and hope that people throughout the organisation will absorb it. In Shell in the 1990s our safety performance in exploration and production had plateaued after a period of improvement.

Analysis showed that fatal accidents were more likely to occur if operations were started up before all was completely ready. It was also apparent that in the case of many accidents someone had had some degree of prior concern or uneasiness about the situation but had not felt empowered to take action.

We sent out a strong message to all upstream operations over my signature saying that anyone had a right to stop an operation if they felt that it was unsafe and that it was more important to ensure that all was ready – training and testing complete – than to meet a promised deadline.

For two or more years after that when I attended “town hall” type meetings with people in operations around the world, there would often at some point be a question along the lines of “Mark, are we not sending out mixed messages on the importance of production versus safety?”

Initially I was a bit irritated, pointing to the letter I had signed and which I thought was absolutely clear. Could people not read?

Soberingly, I soon realised that it was not that people had not read my letter but that they still had some doubts as to what it really meant. Not to put too fine a point on it, some wondered whether the words were just for public consumption.

The answer was not to make the message more strident but to find operations that had been shut down for safety reasons or where start-up had been delayed and draw attention to them, publicly commending those concerned. If people see an action that clearly costs the company money yet attracts commendation, they believe the message.

Many corporations lay great emphasis on training to instil values. I recall listening to the chief executive of a major financial institution that had suffered from scandals relating to trading in Europe and to other events in Japan.

Embedding values by Mark Moody-Stuart

EFMD Global Focus: Volume 08 Issue 03 | 2014

If an individual who delivers outstanding business results but in the process reduces men and women to tears or to severe psychological distress is not checked, any expressed value of treating people with respect becomes worthless, probably along with all other values as well

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He had put in place a very impressive, structured training programme delivered around the world through thousands of hours with care to ensure maximum coverage (and documentation of the coverage).

I was impressed by the effort and the systematic approach. Then, in my eyes, he blew it all by remarking somewhat wistfully of his errant traders that if they had done it to one of the world’s leading banks it would have been all right. He plainly did not get it.

Distorting the market, which is what the traders had done, is an abuse whether the victims are financial behemoths or a lot of little old ladies. The value is not dependent on the victim, although the severity of the crime may be.

Given the attitude of the chief executive, I suspect that the entire structured and rather legalistic training was wasted. To embed values you need to discuss real examples of their practical application.

It can improve the credibility of a value if an action in line with that value bears a financial cost.

Once well established and embedded, how can one check that values live within an organisation?

Board visits to operations allow non-executive directors to see and comment on operations.

Can people give examples of the values in action, whether from their own experience or from having heard “war stories”?

One other method that I believe can give an effective indication of views and values within an organisation is to conduct regular global surveys.

Some people query the reliability of such surveys but if professionally designed and independently conducted they give a real sense of the views of people on whether they feel that the company reflects its expressed values.

The response rate indicates the engagement of the people in the organisation and also whether they believe that their opinions are valued and acted on.

Such surveys are, however, just one more tool in the vital task of ensuring that values are not just slogans on the wall but actually regarded as an essential part of day-to-day corporate life.

ABOUT THE AUTHOR

Sir Mark Moody-Stuart is author of Responsible Leadership: Lessons from the Front Line of Sustainability and Ethics, Greenleaf Publishing, 2014, Chairman of Hermes Equity Ownership Services (since 2009) and served as non-executive chairman of Anglo American plc from 2001 to 2009.

SPECIAL OFFER EFMD members can get 20% off Responsible Leaders by ordering from www.greenleaf-publishing.com/ lessons and using code EFMD20.

He is a former director of HSBC Holdings and is Chairman, Foundation for the Global Compact, and was a member of the Board of Directors of the Global Reporting Initiative until December 2007. He is a member of the Board of Directors of Saudi Aramco and of Accenture .

Sir Mark became a Managing Director of the Royal Dutch/Shell Group in 1991 and was Chairman from 1998-2001.

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The Jazz Age by David Grayson, Melody McLaren and Heiko Spitzeck

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new order of business social innovators is emerging. Canadian author Anne Kingston, citing research by ad agency Sparks and Honey, recently noted key differences between two young groups.

Generation Z – those born since 1995, now 18 and under and who number about two billion worldwide – have a highly developed social conscience. Sixty per cent want jobs that create social impact compared to 31% of Generation Y (also known as “Millennials”), born between the 1980s and 2000.

They are also more entrepreneurial (72% want to start their own businesses) and even more tolerant of racial, sexual and generational diversity than Generation Ys, who are a significantly socially conscious cohort in their own right, according to the 2014 Deloitte Millennials survey .

In 2012 the star Generation Z inventors who made headlines included 15-year-old Jack Andraka, who created an inexpensive, accurate sensor able to detect pancreatic cancer; and 17-year-old student Angela Zhang, who developed a protocol that allowed doctors to better detect cancerous tumours on MRI scans.

60% Generation Z – those born since 1995 – have a highly developed social conscience, 60% want jobs that create social impact compared to 31% of Generation Y (born between the 1980s and 2000)...

72%

...they are also more entrepreneurial (72% want to start their own businesses) and even more tolerant of racial, sexual and generational diversity

Last February, 16-year-old Ann Makosinski claimed the top prize for 15- to 16-year-olds at the Google Science Fair, a place on Time’s “Top 30 under 30” list, as well as a barrage of media coverage for her flashlight, powered by the heat of a human hand.

This had been inspired by the plight of a friend in the Philippines who had failed a grade at school because she lacked electricity to study at night.

Although far younger than their counterparts currently enrolled in business schools, the emergence of these socially conscious, entrepreneurial Generation Zs represents the crest of a wave of business-based social innovation that we have seen building in our research on social intrapreneurism, which we published in our March 2014 book, Social Intrapreneurism and All That Jazz.

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What are “social intrapreneurs” and why study them?

We define social intrapreneurs as “people within a large corporation who take direct initiative for innovations that address social or environmental challenges while also creating commercial value for the company”.

At the Doughty Centre for Corporate Responsibility in the UK, our purpose is to research as well as teach and advise current and future business people on building and developing more responsible, sustainable businesses.

But we are also interested in how people at all levels of a company become interested in trying to build sustainable businesses in the first place.

And we are particularly interested in discovering why and how inventive business people are using the power of their companies to help tackle wide-ranging issues such as climate change, poverty and disease — big global problems that previous generations would not have believed businesses could, or even should, try to address.

The three of us have been investigating social intrapreneurism since 2009 as part of a wider research agenda examining how companies engage their employees with sustainability issues as well as how innovation emerges in responsible companies.

Our interviews with over 40 social intrapreneurs and their colleagues revealed a wide range of projects addressing a broad spectrum of global challenges including over-population, poverty, and inequality of access to financial, educational, nutritional and environmental resources, ill-health and political conflict.

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Over 40 interviews with social intrapreneurs covered a wide range of projects addressing a broad spectrum of global challenges including overpopulation and poverty to educational, nutritional and environmental resources

What do social intrapreneurs do? Here is a small selection of what our research interviews revealed that social intrapreneurs and their allies have already achieved within their companies: • Creation of micro-insurance products for low-income people and businesses unable to afford conventional insurance schemes (Allianz) • Start-up of a business unit within a large parcel-delivery corporation to improve operational efficiency while ameliorating climate change impacts (DHL) • Reduction of a large brewing company’s production costs to improve competitiveness in developing countries through partnerships with local growers (SABMiller) • Development of “sustainable IT” service streams at a major engineering company (Siemens) • Creation of dialogue with a Brazilian community to develop a supply chain relationship at a personal care products company (Natura) • Development of a commercially viable business unit within an engineering consultancy to address third-world poverty issues (Arup) • Engineering of environmentally sustainable production processes at a global chemicals company (BASF) • Creation of partnerships to leverage and develop management expertise in developing countries (Accenture) • Development of a commercially sustainable strategy for marketing pharmaceutical products to low-income customers in developing countries (Novartis).

Clearly, social intrapreneurism is emerging in companies all around the world. But the number of social intrapreneurs is still comparatively small and many of our interviewees talked about experiencing frustration, isolation and loneliness early in their efforts to pioneer projects in their companies.

The Jazz Age by David Grayson, Melody McLaren and Heiko Spitzeck

A successful social intrapreneur must learn to help create and work within “ensembles” of like-minded individuals with complementary skills and ideas in order to succeed. In this respect they must be like jazz musicians, “jamming” together

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How did they succeed in spite of these challenges?

Our interviews underscored the point that successful social intrapreneurism is a group (as opposed to individual) activity. Intrapreneurism and entrepreneurism are distinctly different in this respect.

A single person working alone inside a company can achieve nothing of significance however heroic their efforts. There is simply too much to do.

Although the first phase of our research focused on individual social intrapreneurs, it became evident when we reviewed our first-round interviews, as well as during our second-phase research into the enabling environment for social intrapreneurism, that an intrapreneur had to secure the continuing support of others in order to bring a project to fruition inside a large company.

For this reason, we altered the language in our second-phase research report to highlight the importance of colleagues supporting an enabling environment for social intrapreneurism.

The Western business stereotype celebrates the heroic efforts of the intrepid business entrepreneur.

But a successful social intrapreneur, although perhaps originating an intrapreneurial project idea of their own, must learn to help create and work within “ensembles” of like-minded individuals with complementary skills and ideas in order to succeed.

In this respect they must be like jazz musicians, “jamming” together.

If the number of individuals required to grow a corporate project to a large scale is sufficiently large then the intrapreneurial project may entail assembling a “big band” with a diverse range of talents rather than a quartet. As a result, the proportion of orchestral “scoring” needed relative to the amount of free improvisation may increase.

As with jazz ensembles, the mere presence of other players is not enough. We found that the quality of the “conversation” — the collaborative relationships —between social intrapreneurs and their colleagues both inside and outside their organisation (often partners in external not-for-profit organisations) was instrumental in determining whether an idea could get off the ground and secure support in a company.

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To conclude, it may take a very big band to create a “tipping point” for social intrapreneurism.

We believe that creating an external enabling environment for social intrapreneurism will require joining up external groups such as business schools, social innovation networks, NGOs, corporate responsibility coalitions, venture philanthropists and so on, all playing roles in helping social intrapreneurs to succeed with their ideas and achieve shared sustainability goals.

These external partners create stages for experimenting and discussing projects as well as potentially finding allies.

In a February 2014 Ethical Corporation essay, we concluded that only if such partners join together in connected coalitions – a kind of large-scale big band committed to social change - will we be able to create a tipping point for social intrapreneurism that fosters the scale of co-ordinated activity needed to tackle the myriad social challenges that we face today.

It was particularly helpful if the intrapreneur was able to find an individual – whom we describe as a “godparent” – who could act as: • a power broker to provide access to resources and create a protected “space” in which the intrapreneur could develop a project, often “under the radar” of the rest of the organisation • an effective networker who could connect the intrapreneur with useful contacts and help rally support for a project • an effective translator of an intrapreneur’s ideas who could highlight the links between a project and corporate purpose and values • a skilled listener and coach/mentor who could help develop not only the project idea but also the intrapreneur to a point where they could play a leadership role in the project and become an effective advocate for sustainability within the organisation • someone generally open to challenge by the intrapreneur as well as others • an intelligent risk-taker prepared to bend rules to enable experimentation to achieve “proof of concept” for an intrapreneurial project.

Several business schools and universities either already offer or are planning electives on social enterprise and social intrapreneurism; and / or are working with organisations such as Impact Hubs or the Intrapreneur Lab to co-create learning programmes for aspirant social intrapreneurs. Case studies are also needed to improve the quantity and quality of knowledge about this burgeoning area.

But Canadian author Kingston sounds a note of warning about the challenges that could be facing educational (and other) institutions as Generation Z matures.

The Sparks and Honey survey found that this group places less value on higher education than Millennials (only 64% want advanced degrees compared with 71% of Generation Ys).

Clearly better “improvisation” – with business schools and other education institutions working together with cross-sector partners in entirely new big bands – will be required going forward to engage the talents of this upcoming generation.

ABOUT THE AUTHORS

David Grayson runs the Doughty Centre for Corporate Responsibility at Cranfield School of Management in the UK. Melody McLaren is a Doughty Centre associate. Heiko Spitzeck teaches at FDC, Brazil. Their book Social Intrapreneurism and all that Jazz is published by Greenleaf Publishing.

64%

The Sparks and Honey survey found that [Generation Z] places less value on higher education than Millennials (only 64% want advanced degrees...

71%

...compared with 71% of Generation Ys)

EFMD Global Focus: Volume 08 Issue 03 | 2014

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Enhancing talent development and talent acquisition by Amber Wigmore Alvarez and Boris Nowalski

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C

orporate Human Resources Officers (CHROs) should think differently about how they attract and develop talent.

Using rigorous admissions criteria, including standardised tests, academic records and personal interviews, business schools select the best students to pursue their programmes. This process allows companies to have an automatic first filter ready made for them.

With diversity being one of the hallmarks at our own school, IE in Madrid, Spain, more than 90 nationalities are represented on-campus

As we meet with CHROs worldwide, in almost every industry and sector, it is intriguing to see how they have the same issues on their agendas, be it in Many schools have developed strong Mexico City, Lagos or Moscow. They career centres that act as a liaison want to: between corporations, students and alumni.

• align their position and skills, and subsequently those of their teams, with With diversity being one of the hallmarks the overall goals of their companies at our own school, IE in Madrid, Spain, • connect with talent wherever where more than 90 nationalities it is located, a concept driven by are represented on-campus, we are globalisation, technology, mobility and witnessing how our community of education. If individuals are continuously 50,000 alumni are forming a global being educated, so is the company talent market across a growing number • utilise analytics to better understand of fields and disciplines. talent needs and trends This phenomenon poses a major • sustain the talent experience in order challenge for our team in Career to attract, maintain and cultivate top Services from the student/alumni talent as work environments evolve perspective. However, for our In today’s fiercely competitive global recruiters, the result is innovation in markets, companies strive to hire the which we are seeing new ways of best possible talent they can in order to acquiring, developing and managing run their businesses successfully. There talent and work. In many cases this is very strong competition for finding involves us working side by side with and sourcing these talent pools around them to assist in creating customised the world. internships, business case competitions and management Business schools have been considered development programmes. for many years as the perfect partner for many companies when it comes to hiring the best, as they compete among themselves to attract only the strongest candidates in the market.

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With more than 20% of our students across all programmes securing employment outside of their countries of origin, we are witnessing the end result that occurs when there is an open exchange of ideas, technologies, practices and human capital.

In the IE Career Management Center (CMC), we are no longer looking solely at historical data to devise our strategy but rather we are using data analytics to identify our students’ preferences and draft a roadmap for our approach to employers.

Employers are similarly using analytics to mine large pools of employee and business data.

At IE we understand that applying these analytics in a meaningful way provides both our institution and corporate partners with a competitive advantage and thus we have implemented the appropriate technological platform and created roles to provide such support.

Talent acquisition among companies has become so competitive that numerous companies organise events for admitted students prior to their arrival on-campus so they can have the first mover advantage in picking the best.

However, the talent services that we offer at IE, in terms of talent acquisition, are such that we are capable of sourcing most profiles companies are seeking for their talent pipeline. Thanks to being a fully integrated university we are able to offer graduates fresh from our undergraduate university programmes or our Master in Management. In addition, we also have experienced managers from our MBA and Executive MBA programmes ready to tackle leadership jobs in organisations.

Finally, by allowing our alumni to use our job-posting platform, we are able to locate senior experienced managers a company may be searching for.

One of the biggest problems top global companies have is talent retention. Companies use many strategies to try to retain their talent. One of these strategies is the continuous training and development of the work force.

By implementing training programmes for employees, companies maintain a motivated and engaged work force, hence reducing the risk of losing valuable talent. But not only is executive development crucial for talent retention, it also improves the personal capacities that make executives more effective in positions of leadership.

The systematic development of management skills is vital for the improvement of processes and organisational effectiveness.

Business schools have proved to be very effective partners to corporations in this area, thanks to the variety of programmes and learning opportunities they can provide.

Talent development is one of the cornerstones of IE’s talent services. Our corporate engagements start with an evaluation, in partnership with the internal directors of training and development at the companies, to map the talent architecture of the organisation. Once the mapping of the talent architecture is done, we are able to propose specific solutions to the client either through our existing portfolio of programmes or by customising a programme.

In order to produce lasting results and have a meaningful impact, a learning intervention for high-level executives must connect with the individuals not only on an intellectual level but also on a behavioural and emotional level.

Enhancing talent development and talent acquisition by Amber Wigmore Alvarez and Boris Nowalski

20%

More than 20% of IE students across all programmes secure employment outside of their countries of origin – this is the end result that occurs when there is an open exchange of ideas, technologies, practices and human capital

Research has shown that executives learn in different settings: traditional classroom, coaching and on-the-job learning. Therefore, an effective learning design must integrate multiple methodologies to ensure its impact on participants’ behaviour at their workplace and thereby maximise the contribution to the corporation’s success.

Technology is the key foundation from which our students can learn, share and work anywhere in the world, allowing them to break free from physical geography and defined markets.

Executives today are finding more opportunities to work where they want, making career moves potentially more frequent and seamless. Our corporate partners in turn expect them to be more productive while mobile, requiring them to hone prioritisation skills, while access for their employees to corporate MBAs, in-company and executive education programmes facilitate vertical moves.

IE has invested heavily in the application of new technologies for executive education by developing and offering programmes that blend a combination of online and face-to-face training.

As opposed to other on-line methodologies, which are self-taught with a massive number of participants, blended programmes replicate the classroom experience in a virtual setting. This methodology allows companies to have global training programmes without having to constantly fly executives around the world, therefore making it less costly while being continuous and flexible.

Today, business schools around the world are key partners of global corporations. By providing talent services, both acquisition and development, business schools are able to help companies solve some of their crucial talent problems: attraction, acquisition, retention and development.

Talent acquisition among companies has become so competitive that numerous companies organise events for admitted students prior to their arrival on-campus so they can have the first mover advantage in picking the best

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One of the major trends we have identified is that managing talent no longer involves the same certainties as the past, when organisations would send standard job descriptions to business school career centres for publication.

Increasingly, companies provide us with insight as to the profile they are seeking and we conduct highly personalised selection processes, leveraging analytics related to students’ geographical, sectorial and functional preferences, cross-referenced with years of experience, work permit authorisation and other factors.

Interestingly, this move towards less strictly defined job descriptions resonates well with what our Executive MBA students seek and thrive in, companies where employees are able to customise their careers and align their personal goals with those of the company. We find our students and alumni to be more motivated under this approach, rather than being forced down a traditional career path.

Changes on a global scale are changing the face of talent services, with talent and employers now seeking each other out from anywhere in the world.

These are times of mobility where employees move with greater ease to new roles, ignoring geographic and organisational barriers.

Recruiters and corporate partners expect new hires to be ready to hit the ground running, contributing immediately to the triple bottom line of social, environmental and financial components.

For the HR leaders with whom we collaborate, this means challenging assumptions about how people are hired, how they work with one another and how to develop their full potential – and understanding that the structure of talent and work is changing.

It also finds us meeting more frequently with those in roles related to employer branding and collaborating with them on numerous initiatives as they work to update their talent brands and connect people who relate to the company in fundamentally different ways. This is the new talent experience.

ABOUT THE AUTHORS

Amber Wigmore Alvarez is Executive Director of Career Services at IE Business School in Madrid, Spain. Boris Nowalski is Director of Corporate Relations at IE.

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Thomas Bieger explains how the University of St Gallen used the new Business School Impact Survey to consolidate and build on its local roots

How being embedded in your region helps growth by Thomas Bieger

EFMD Global Focus: Volume 08 Issue 03 | 2014

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I

magine you are the chief executive of an airport whose customers are rather dispersed. Some of them live up to 100 miles away, which is true of a minimum of 40% of hub transfer passengers.

Your main concern is your airport’s international positioning against the major hubs and their worldwide competition. Your main markets are international transfer passengers and international airlines. You therefore recruit top staff and specialists from an increasingly competitive international labour market.

However, access to local resources is key for the expansion of your airport, the local labour market, rail and road access, subsidies for those public services that your airport delivers and the development of neighbouring businesses.

Simultaneously, the regional environment sees the negative impacts, such as direct externalities like noise; and many locals regard indirect externalities, such as the role of the airport as a representation of globalisation, as a threat.

Many companies with operations fixed to a specific location face similar challenges.

They compete in international markets but have to combine their international reach – even their global reach – with their local and regional roots. They rely on local resources and regional and national laws regulate them.

The same is true of business schools – not just traditional, campus schools but also multi-campus universities and virtual business schools offering pure e-learning products. All of them need to nurture their local roots. For example, they need at least a legal local base to ensure accreditation. Further, they draw on the brand and image of their home base.

Many companies with operations fixed to a specific location rely on local resources and regional and national laws regulate them

Compared to other institutions of higher education, business schools face a specific challenge regarding caring about this local “embeddedness” because: • their graduates work for global companies and not for the regional economy and society as do most medical doctors, lawyers and teachers that traditional comprehensive universities produce • to achieve their global ambition, they rely on the professors and leadership that the global faculty market provides • from the public’s point of view they are often those responsible for bad management practices and are even the source of economic crises. This is most predominant in respect of the best business schools in a country with a dominant market share. Many view these schools as embodying an ever-present risk that their alumni will feature in tomorrow’s negative headlines about incompetent managers.

All of the above are reasons why the University of St Gallen in Switzerland has undertaken the Business School Impact Survey (BSIS) assessment process offered

by EFMD Global Network and FNEGE (French National Foundation for Management Education).

The University of St Gallen’s vision is to establish and further its position in the worldwide university landscape.

However, 20% of its overall financial budget originates from its region, the Canton of St Gallen, while only 10% of its students do.

As one of 10 state universities in Switzerland, it is the only specialised university whose graduates, unlike those of the universities of Basel and Zurich, leave the region, with only a small minority remaining. Sixty-four per cent of its faculty are non-Swiss and only 5% originate directly from from the Canton of St.Gallen.

40%

Airport customers are rather dispersed, some of them live up to 100 miles away, which is true of a minimum of 40% of hub transfer passengers

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20% of the University of St Gallen’s overall financial budget originates from its region, the Canton of St Gallen, while only 10% of its students do

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Moreover, in the aftermath of the global financial crises, St Gallen – like all the leading business schools in Europe – is perceived in terms of the failure of a few of its thousands of graduates in leading management positions. The university is thus criticised as one of those mainly responsible for the economic problems during the crisis years.

By producing an extensive self-evaluation report as part of the BSIS process the university not only clarified the impact measurement criteria but also developed them further. The clear structure of the report template has allowed a thorough internal review of the university’s goals and strategy.

More importantly, the two-day onsite BSIS peer review allowed reflection on the entire embeddedness management process. Interviews with local stakeholders provided an independent review of all of the university’s links, which allowed new ideas for actions and strategic adjustments to emerge.

Embeddedness is defined as “the way in which organisations or actors become tied into the local business and institutional environment” (see Alderman 2004 in Kern-Ulmer 2011 p26).

Embeddedness not only encompasses different layers of links and processes (social, political, economic; see Hayter 2004), but also of logistical/technical processes. However, this embeddedness cannot be delegated to political lobbies.

Integration into regional value networks is as important as the visibility and the integration of a school’s representatives, its leadership and its professors in the region’s social networks.

Multi-campus operations have to take the different cultural and institutional contexts (see North 1990, …humanly devised constraints that shape human interaction) into account, since the type and level of integration expected need to vary. Most importantly, the various stakeholders, who mostly represent local resources, must also be acknowledged.

For business schools these stakeholders could comprise regional/national regulation and accreditation authorities, the regional student market (students act as multipliers to the broader society), civil interest groups, public authorities in charge of infrastructure such as transport and construction authorities, the regional labour market, local suppliers and service partners, and location marketing associations.

Embeddedness and strategies related to it are important moderators of the value creation processes (see Kern-Ulmer 2011). Like any strategic activity, embeddedness needs an approach inspired by the familiar management cycles of measuring, planning, acting and controlling.

Consequently, long time horizons and a relational approach are crucial.

Purely transactional activities with a short perspective, such as information and lobbying campaigns before a construction project starts, are very often perceived as opportunistic and may even be counterproductive in the longer term.

Extensive indicators need to be defined to monitor a business school’s regional impact. Impact measurement should therefore not only encompass traditional economic dimensions such as the regional value added (in the University of St Gallen’s case, 1 SFR of regional public money converts into a regional income of 5 SFR). However, a purely economic perspective can easily be seen as only transactional and tactical.

Social interlinks can be divided into direct links to core processes, such as the number of projects and graduate placements with regional companies, and more general, indirect ones, such as employees’ links with regional organisations, the number of hours they spend as volunteers in regional associations and so on.

Embeddedness implies full integration into not only regional social and economic networks but also political and technical ones. A purely transactions level is not sufficient

How being embedded in your region helps growth by Thomas Bieger

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University of St Gallen faculty have active supervisory or management roles in more than 200 companies and foundations listed in the Swiss Commercial Register and approximately 40% of these are located within the region.

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University of St Gallen faculty have active supervisory or management roles in more than 200 companies and foundations listed in the Swiss Commercial Register and approximately 40% of these are located within the region

There are also other important impacts, such as an organisation’s image and its contributions to local/regional brands.

Nevertheless, the negative impacts in each dimension also need to be considered, for example a business school’s influence on the local real estate market and rents, traffic, loss of regional identity and others.

As mentioned, embeddedness implies full integration into not only regional social and economic networks but also political and technical ones. A purely transactions level is not sufficient.

General corporate social responsibility concepts (see Social Responsibilities of Business Corporations 1971) can inspire and define embeddedness goals at different levels. For example, an operation can be: • compliant, in the sense that it fulfils all the legal requirements of its regional links • responsible, by accepting additional remits • responsive, by taking a proactive role and, taking all its relevant positive and negative impacts into account, trying to influence the region’s systems positively The University of St Gallen operationalised its embeddedness goal as “the university is not only seen as a factor of regional benefits but as an important factor of regional life” (a relational and not only a transactional perspective). A related instrumental goal was “every citizen at least indirectly has an access or direct contact as employer, speaker, visitor, supplier, friend to a unit or representative of the university”.

Measures such as presenting public events, delivering not only public lectures, but also comprehensive programmes, acting as a point of contact for regional SMEs, contributing to regional events by means of faculty and staff presentations and organising decentralised stakeholder meetings (round tables) are important.

The overarching goal is to assure longterm access to local resources such as the local labour market, the student housing market, efficient local suppliers, to be socially and politically accepted and to be perceived as legitimate in order to enjoy long-term political support in budget discussions or for upcoming construction projects.

An additional goal is to develop the location’s competitive position, especially its industrial clusters, quality of life and its local brand.

In this process, outside views allowing reflection on an organisation’s approach are helpful, a key role of BSIS. Since the entire management education industry, like any other operation with a fixed location, faces similar challenges, the exchange of know-how in the BSIS scheme is of real value. In addition, boards and local politicians want to be sure that the university management links properly with its environment. The external legitimation of a university’s embeddedness activities is therefore compulsory.

Going through BSIS has been very beneficial for the school, as it brings a well defined and structure process for developing new instruments and for providing data on the important strategic challenges that our “industry” faces.

FURTHER INFORMATION

If you would like further information or are interested in your school taking part in BSIS please contact: Gordon Shenton gordon.shenton@efmdglobal.org, Michel Kalika michel.kalika@efmdglobal.org or bsis@efmdglobal.org ABOUT THE AUTHOR

Thomas Bieger is President, University of St Gallen, Switzerland

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FROM EPAS TO EQUIS & AACSB… & FROM AACSB TO EPAS

Anne-Joëlle Philippart explains how the mix of EFMD and AACSB accreditation models helped achieve a rapid improvement of the quality assurance system at HEC-Liege

Goimg from A to E: From EPAS to EQUIS and AACSB…and from AACSB to EPAS by Anne-Joëlle Philippart

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H

EC-Liege, the management school of the University of Liege, Belgium, is the result of the 2005 merger of two Liege business schools.

The city of Liege has undergone profound industrial change focused on a shift from traditional heavy industries to innovative businesses and specialised technological industries. HEC-Liege has also rapidly developed as a proactive partner in regional economic development, launching a number of pioneering initiatives, encouraging entrepreneurship and enhancing the international dimension of the activities of its staff and students.

In 2009, the school launched a very proactive strategy to further increase its visibility, reputation and internationalism. One of the main pillars of this strategy was to obtain several international accreditations.

The HEC-Liege Board of Directors also launched an international search that led to the recruitment of a new Dean, Thomas Froehlicher. It also decided to appoint a full-time Quality Manager.

The objective was to obtain a programme accreditation under EFMD’s EPAS standards as a start to a school accreditation under the AACSB and EQUIS (also EFMD) standards. Both EFMD and AACSB proposed very complementary models.

The first step was to involve our stakeholders, both internal and external.

The involvement of internal stakeholders ensures an institutional ownership of the process and implementation of a quality culture, oriented to continuous improvement. The involvement of external stakeholders helps the school to connect with market needs.

The EPAS accreditation model is built around programme design, programme delivery and programme outcome. It is backed by a Quality Assurance System and framed by the institutional context. This model helped us to structure our activities. The main achievements were the writing of a quality manual and the setting up of a programmemanagement system around the intended learning outcomes (ILOs).

The writing of the quality manual started with an analysis of our organisation. This has allowed us to rationalise and disseminate our processes and procedures.

The ILO process started with a broad programme review relating to, on one hand, our main research fields and, on the other, our corporate dimension and the market’s needs.

Wide-ranging consultations were carried out with faculty, staff, alumni, students and employers. These meetings have created a team spirit and a sense of belonging to the school.

As regards programmes, we defined a graduate profile documented by about 15 measurable ILOs. Each professor was asked to determine which programme ILOs were addressed by her or his lectures. They also had to determine which pedagogical methods and which assessment methods they were using and then list them in pedagogic commitments published on the school web site.

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Regarding programmes, HEC-Liege defined a graduate profile documented by about 15 measurable ILOs

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A clear definition of programme ILOs has many advantages and serves students, programme directors, faculty and recruiters. Each one better understands the others’ expectations, favouring mutual adjustments and resulting in good teamwork between faculty members Every year the Quality Department carries out an analysis of each programme, checking: • if the programme ILOs are addressed in a balanced manner by the programme’s different courses • the coherence between the chosen pedagogical methods, the chosen assessment methods and the ILOs • the diversity of the teaching and assessment methods used Based on the accreditation model of AACSB and more particularly its “Assurance of Learning” concept, we have developed a model to assess the degree of acquisition of the main ILOs by students.

For each programme an analysis, in addition to the individual evaluation, of the teaching activity of the school is carried out. We perform this analysis at the end of the bachelor programme based on a transversal course and, at the end of the masters programme based on the thesis. We used standardised grids employing identical criteria and identical acquisition levels to measure the main ILOs. We do not claim that the results have scientific validity. The aim is to draw our attention to any weaknesses, to allow further analysis and to develop improvements.

Using AACSB concepts, we re-organised our faculty members on the basis of two pillars: the first is the educational background and the second is maintaining qualifications.

Qualification maintenance may be achieved by corporate professional experience and/or research activities evidenced by publications and/ or consulting activities and/or further education.

A clear definition of programme ILOs has many advantages and serves students, programme directors, faculty and recruiters

This classification brings a framework of diversity into a university career, either a classic academic background or a high level of professional experience. It allows either a purely scholarly career or a mix of corporate experience and academic scholarship.

The AACSB accreditation is also centred on the school’s mission statement. This has helped us to improve all our teaching, research and service activities consistent with our mission, vision and strategic plan. It also helped us to redefine our partnership strategy and our executive education.

For example, to increase our international dimension, we have created an international MBA and we have started to deploy a policy of localised activity with the creation of international certificates in Hanoi, Malaysia, Sofia and Kinshasa. We also decided to give far more attention to corporate social responsibility (CSR) in our teaching, our research and all our activities, based around the creation of a school platform dedicated to CSR. Using EFMD and AACSB concepts, we have now obtained three EPAS accreditations and we are ready for the last step of the AACSB accreditation.

We have decided to continue with the two systems by going even further and applying for EQUIS accreditation. We also share our experience with other universities such as Madagascar and Djibouti in the context of developing co-operation.

The resulting cultural diversity is truly enriching.

For some years, we have also observed that the two systems were getting closer. In fact, by anticipating the direction of this evolution, we have already merged the two models in our approach for greater efficiency.

ABOUT THE AUTHOR

Anne-Joëlle Philippart is Accreditation and Quality Manager at HEC-Liege aj.philippart@ulg.ac.be

EFMD Global Focus: Volume 08 Issue 03 | 2014

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Donald Marchand and Anna Moncef discuss the lessons to be learned from the SMS for Life initiative

!

600

Novartis has provided, through its Novartis Malaria Initiative, more than 600 million Coartem treatments without profit to people who could not otherwise afford them

The case for inspiration by Donald Marchand and Anna Moncef

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very so often, a special type of case study comes up. It is a fascinating story, exciting to write and rewarding to share. But not only that. Crucially, it also has the potential to touch hearts and minds and to make executives reflect on their personal and professional goals.

Our SMS for Life case series shows how technology can improve supplies of life-saving anti-malaria drugs in sub-Saharan Africa. It also highlights the inspirational leadership and commitment of Jim Barrington, the former chief information officer (CIO) of Swiss healthcare company Novartis. By motivating others to work towards an elegantly simple solution, Barrington helped to generate major social impact and also business value for his company.

EFMD Global Focus: Volume 08 Issue 03 | 2014

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By motivating others to work towards an elegantly simple solution for improving the supply of anti-malaria drugs, former CIO Jim Barrington helped to generate major social impact and also business value for his company

This article summarises the SMS for Life story, discusses the key learning points and suggests ways in which the case series can be taught.

The stock-out problem Novartis is one of the world’s biggest makers of anti-malaria drugs. Through its Novartis Malaria Initiative the company has provided more than 600 million Coartem treatments without profit to people who could not otherwise afford them. Most of the drugs were distributed in sub-Saharan Africa.

However, malaria continues to kill thousands of people each year in this part of the world. One reason is that government agencies there have found it hard to match supplies of anti-malaria drugs to the patients needing them, resulting in “stock-outs� at health facilities and hospitals. The problem is especially acute in poor, remote areas.

ON LOCATION From the beginning, we wanted to accompany Barrington on a visit to Tanzania to experience the problem and the proposed SMS solution first hand. We also wanted to make a video that would touch other professors and students, especially those who have not experienced the harsh, remote conditions of sub-Saharan Africa.

Barrington believed that information technology could help solve this long-standing supply chain problem and in late 2008 he proposed to work full-time on it for 12 months ahead of his planned retirement.

CIOs generally do not lead such projects and he immediately faced some internal scepticism within the company. Colleagues warned Barrington that the project lacked funding and would hit bureaucratic hurdles when he started dealing with outside organisations.

But he pushed ahead. In January 2009, with just an office, a phone and a computer, he began working on his idea of managing the supply chain by tapping into the increasing use of mobile phones in the developing world. He called the project SMS for Life.

Above from top: Pregnant women and children are the most vulnerable groups with over 85% of malaria deaths occurring in children under five.

Training poster of health facility storage cupboard.

Jim arranged for us to accompany him on a week of visits in February 2009 to health facilities and hospitals in the Lindi District, about 500 kilometres south of Dar es Salaam, the Tanzanian capital.

We also interviewed Ministry of Health officials and other NGOs involved in healthcare delivery in the country. This visit gave us the motivation to develop the best possible case to communicate this story as broadly as we could.

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Securing support: keep it simple Barrington’s first priority was to secure internal and external support. He did this by defining the problem and potential solution very clearly so that colleagues and potential partners could understand them. He emphasised the emotional goal of saving lives and focused on motivating people to get involved while keeping the technical complexity behind the scenes.

He quickly assembled a team consisting of three Novartis employees who asked to take part and one person each from Vodafone, IBM and Google.

The team members from these three companies all had specific skills and would fund themselves, helping to reduce bureaucracy.

Barrington’s clear approach paid off when Roll Back Malaria, a global co-ordinating partnership, agreed to own and actively support the project.

That gave him credibility when trying to attract other partners, countries and funding. Vodafone, IBM and Google decided to give technical support and Tanzania agreed to be the pilot country.

Tanzanian government officials, health workers, pharmacists and medical stores were included in project design discussions (see box page 37).

A diverse group of students who were working with IBM provided fresh perspectives.

The eventual solution aimed to keep things simple for the user by collecting only the information that was absolutely required. Each week, local health workers in Tanzania would send an SMS text message reporting stock levels of anti-malaria drugs to a central database. Electronic Google mapping showed exactly where stocks were low, allowing district health officials to order drugs and distribute them as needed.

From pilot phase to full rollout In October 2009, nine months after Barrington had started work, an SMS for Life pilot project began in three Tanzanian districts that had big problems with anti-malaria stocks running out.

The pilot was highly successful. Stock-out rates fell sharply and the average response rate by health workers was 95%. As a result, the Tanzanian authorities approved a national roll-out to all 5,100 health facilities.

Barrington knew that many pilot projects in emerging markets are never implemented because it takes too long to apply for and receive funding from non-governmental organisations (NGOs) especially for the critical period between the end of the pilot and the full rollout. So Barrington requested and secured funding from Medicines for Malaria Venture, Novartis and the Swiss Agency for Development to cover all scale-up costs.

95%

The pilot in Tanzania was highly successful, stock-out rates fell sharply and the average response rate by health workers was 95% – as a result, the Tanzanian authorities approved a national roll-out to all 5,100 health facilities

The case for inspiration by Donald Marchand and Anna Moncef

Teaching tips The SMS for Life case series could be used in courses on leadership, information management and supply chain management. The package consists of an A, B and C case, a video, a teaching note and some slides for instructors. Case A can stand alone while Cases B and C can be used for follow-on sessions.

The next generation of SMS for Life – eHealth for Africa – is being introduced in all health facilities in the state of Lagos in Nigeria, which has a population of 23 million. The programme will cover all antimalaria medicines, malaria tests, bed nets and seven child vaccines, tracking of critical diseases and prevention of HIV transmission from mother to child.

Our advice is to focus initially on Case A and the video. These look at the practical problems of start-up leadership, funding issues, the pilot in Tanzania and building the right team. The video is a vital part of the teaching because it brings the context of the case series to life. This first session can end on the question: will the successful pilot survive to be fully implemented in Tanzania and other countries?

Barrington has delayed his retirement and now directs the SMS for Life project. Meanwhile, other younger Novartis IT managers have volunteered their time for the initiative.

23m

The next generation of SMS for Life—eHealth for Africa—is being introduced in all health facilities in the state of Lagos in Nigeria, which has a population of 23 million

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Following its successful debut in Tanzania, SMS for Life has expanded to Ghana, Kenya, the Democratic Republic of Congo and Cameroon. It monitors other medicines too. In Ghana, SMS for Life tracks blood supplies to reduce mortality in childbirth due to haemorrhage. In addition, a national scale-up currently underway in Cameroon will also cover programmes for HIV and neglected tropical diseases.

As SMS for Life is replacing mobile phones with tablet computers, the new platform will also distribute high-quality health worker training.

From top: Learning to use SMS for Life.

Health facility workers sharing training experiences.

Understanding stock management at the health facility level.

EFMD Global Focus: Volume 08 Issue 03 | 2014

Implications of the SMS for Life case The SMS for Life story shows how entrepreneurial executives can break out of their usual areas of operation to design and lead projects – in this case addressing a long-standing social problem through a novel approach to public-private partnering.

The keys to the project’s success were: • setting a goal that was eye-catching and clear • starting with a small but committed team of internal and external experts • being fully briefed via local contacts on the area where the scheme would operate • forming strong external partnerships This is not just a case series for CIOs and other IT professionals. We believe that all business students and managers can benefit from it at any point in their careers, particularly if they want to apply their expertise and skills to creatively address problems in the developing world.

SMS for Life shows how responsible leadership can not only have a major social impact but also contribute to business value over time by changing the way a company operates in emerging markets. So it makes good business sense to challenge executives to lead or participate in externally focused initiatives.

Teachers could then go to Case B, which deals with the broader implementation of SMS for Life. This includes Barrington’s efforts to bridge the funding gap between the pilot and full-scale rollout in Tanzania and to get other countries involved.

Finally, Case C looks at how Novartis might use the SMS for Life initiative in both the public healthcare sector and the private distribution of medicines in African countries.

The critical thing is to try stepping into Barrington’s mind and shoes. Students can then try to understand his motivation and focus in taking on this unprecedented project and finding a workable solution.

SMS for Life shows how responsible leadership can not only have a major social impact but also contribute to business value over time by changing the way a company operates in emerging markets

FURTHER INFORMATION

The “SMS For Life Case Series” won the “Best of the Best” category in the 2013 EFMD Case Writing Competition. More information can be found via www.efmd.org/case ABOUT THE AUTHORS

Donald Marchand is professor of strategy execution and information management and Anna Moncef is a research associate and program manager, both at IMD, Lausanne, Switzerland.

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The latest Corporate Recruiters Survey offers a positive MBA hiring landscape and highlights what is most important for employers in the process. Findings suggest both new approaches for students in the job search and what schools can do to increase placement rates. Christophe Lejeune and Michelle Sparkman Renz report

F

indings from the annual Corporate Recruiters Survey offer good news for class of 2014 MBAs, business schools and employers. Fewer companies surveyed report being focused on containing costs and efficiency and their hiring plans reflect it. Some 80% of employers worldwide plan to hire recent MBAs this year, up from 73% last year and 30 percentage points higher than in 2009, when just half of employers surveyed planned to hire MBAs. The 13th annual survey drew responses from nearly 600 employers, including 32 of the top 100 companies in the Financial Times. It was conducted by the Graduate Management Admission Council in partnership with EFMD and MBA Career Services and Employer Alliance. It offers insight into business school recruiters’ thinking and demonstrates the importance of internships, suggesting numerous ways that both schools and students can improve graduates’ chances of being hired.

YM EN T IN CR EA SE D EM PLO O PP O RT UN IT IE S

MAKING THE MOST OF THE HIRING P RO C E S S E EX PLOR E CO RP OR AT LT S SU RE EY RE CR UI TE RS SU RV

Employers globally rated the hiring of past and present interns and on-campus visits as the most effective recruiting methods. European employers specifically cited internships as their most efficient means of identifying candidates to hire.

By hiring interns companies can observe first hand whether a prospect can do the work and is a good fit with the company. Likewise, a former intern who accepts a job has a better idea of the company culture and whether the company will be a good fit. Companies that hire past interns with whom they have experience are arguably making hiring decisions at a starting point that is even earlier than the traditional recruiting season viewed by business school career services offices.

A key aspect of the internship equation for schools is that more than half (57%) of employers surveyed reported that satisfaction with current and past interns is factored into their decision making when choosing future schools to recruit from.

These findings provide numerous takeaways for how both schools and students can improve job placement rates.

FIGURE 1: KEY CRITERIA EMPLOYERS USE WHEN SELECTING SCHOOLS FOR RECRUITING EFFORTS

Satisfaction with past interns Reputation of school

57% 65% 80%

Quality of the students

PERCENTAGE OF RESPONDENTS

Making the most of the hiring process by Christophe Lejeune and Michelle Sparkman Renz

EFMD Global Focus: Volume 08 Issue 03 | 2014

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83% 2

Work with students to understand all the implications of an internship.

Percentage of employers planning to hire MBAs in 2014, according to survey results. By region, 83 percent of employers in Asia-Pacific...

61%

Implications for Business Schools

1

Create more opportunities to place interns from a wider variety of programmes into a broader array of sectors.

Because employers find internships such an effective recruiting strategy, it is up to schools to help place as many students as possible as interns. Identifying which companies offer internships by sector and degree type, the survey results identify potential areas of growth among sectors that students might not have originally considered in non-traditional fields such as technology, health care and manufacturing.

...61 percent of European employers...

86% ...and 86 percent of US employers

In addition, a gap in demand levels between MBA and non-MBA interns suggests that there is an opportunity for schools to conduct awareness building on the skills sets that masters talent can offer an employer.

Internships not only offer work experience and the chance to get a feel for corporate culture but also an opportunity to network from within a company. Essentially, summer internships may serve as a 90-day job interview.

Viewing the internship too lightly or as simply “an experience” is a costly miscalculation for students and their schools. Internships are an important way for students to acquire real-world experience while still completing their studies. MBA or masters students who complete an internship not only gain on-the-job experience but are also in a position to network from within a company and make contacts that could help them land a future job and grow their confidence in an industry.

The experience is particularly important for those students with little to no prior work experience who have not yet built up an extensive work record before entering their graduate management programme.

Data show that internships often have a direct link to the hiring process: in 2014, 57% of employers reported that their companies had employed MBA students as interns in 2013. Of these, 76% hired one or more of their MBA interns for full-time positions.

By region, 83% of employers in Asia-Pacific (APAC), 61% of European employers and 86% of US employers planned to hire MBAs in 2014, according to survey results.

Internships are particularly important in the hiring process for employers in Europe and the US. Yet, internships were not found to be among top hiring criteria among APAC-based companies in the study.

There may be an important facilitator role schools can play for the many international students who originate from the APAC region and conduct a job search back home to familiarise APAC employers with a candidate’s internship experience and how it will be an asset to their firm.

Employers reported that the most common strategies they use to recruit recent business school graduates involve employee referrals (90%) and past/present interns (84%)

TABLE 1: PERCENTAGE OF COMPANIES THAT OFFERED INTERNSHIPS TO GRADUATE BUSINESS STUDENTS IN 2013, BY INDUSTRY

TABLE 2: TOP 5 MOST EFFECTIVE RECRUITING TECHNIQUES OR STRATEGIES,

BY WORLD REGION

INDUSTRY*

ASIA-PACIFIC

EUROPE

UNITED STATES

Consulting

MBA INTERNS 42%

NON-MBA INTERNS 33%

Employee referrals

Past & present interns

On-campus recruitment

Finance/Accounting

58%

35%

Online job boards

Company website

Past & present interns

Health Care

71%

24%

Recruitment agencies

Online job boards

Employee referrals

Technology

63%

31%

Social media

Employee referrals

Manufacturing

77%

23%

University partnership programs

Products/Services

54%

22%

On-campus recruitment

On-campus recruitment

Networking events

*Energy/Utilities and Nonprofit/Government sectors not shown due to insufficient response (N < 25). Source: GMAC (2014) Corporate Recruiters Survey.

Source: GMAC (2014) Corporate Recruiters Survey.

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3

Work with students to set clear learning goals and prepare a personal communication plan.

Communication skills are the top skills employers seek, so include communication measures – oral communication, listening and written communication – in how the school and the student will measure success. This will be fodder for the student’s use in cover letters and interviews that focus on skills developed during the internship.

In the words of one technology recruiter: “Communication is key. You can have all the financial tools but if you can’t communicate your point clearly, none of it will matter.” Another recruiter observed: “…teach students how to better position and sell themselves…both the student and the hiring manager need to be able to communicate how to utilise and leverage those skills that the MBA brings and how they can be developed and grown”.

Ultimately, hiring managers want reassurance that a candidate is prepared for a role that best fits his or her skills set. Identifying the skills, qualities and experience employers want in a new hire is important and being able to position the skills a candidate displayed while in an internship or work project is critical.

When asked what factors were most important when selecting candidates to interview, employers’ most frequently cited responses were “proven ability to perform” (61%), followed by “technical and/or quantitative skills” (54%). These results differed by world region, however, as employers in APAC and Europe regard an applicant’s prior company experience as the top criteria when selecting candidates to interview; for US employers, a candidate’s proven ability to perform on the job tops all other candidate attributes.

As one employer states: “Factors such as ability to project manage, communicate regularly, manage up, proactively take hold of tasks, and synthesise knowledge in a complex, real-world environment (not only in a business “framework” environment) —all these make a really big difference”.

TABLE 3: TOP 10 SELECTION CRITERIA EMPLOYERS USE WHEN IDENTIFYING CANDIDATES TO INTERVIEW, BY WORLD REGION RANK

ASIA-PACIFIC

EUROPE

UNITED STATES

#1

Prior employer

Prior employer

Proven ability to perform

#2

Prior industry

Years of work experience

Impression from resume

#3

Proven ability to perform

Technical/quantitative skills Technical/quantitative skills

#4

Years of work experience

Prior occupation

#5

Technical/quantitative skills Internships

Strong academic success

#6

Leadership recognition/ awards

Prior industry

Prior occupation

#7

Prior occupation

International experience*

Years of work experience

#8

Strong academic success

Proven ability to perform

Business school reputation

#9

Business school reputation Global experience**

#10

Record of increased job responsibility

Impression from resume

Prior industry

Prior employer Internships

*Relevant language, country, and/or cultural expertise or international work experience **Either education or work outside of home country Source: GMAC (2014) Corporate Recruiters Survey

61%

When asked what factors were most important when selecting candidates to interview, employers’ most frequently cited responses were ‘proven ability to perform’ (61%)...

54%

...followed by ‘technical and/or quantitative skills’ (54%) – although these results differed by world region

Identifying the skills, qualities, and experience employers want in a new hire is important, and being able to position the skills a candidate flexed while in an internship or work project is critical

Key takeaways for current students at business schools • Cast a wide net: Explore options for the internship (and job search); there are potentially more opportunities for an internship in sectors that are non-traditional business school industries.

• Think of an internship as an extended job interview: Internships provide companies with the opportunity not only to see a student’s work, but also to see how they work with others, communicate and adapt to various situations.

• Know your market value: During internships students discover what they like and are good at, which increases their self-awareness and clarifies their positioning on the job market.

In advance of a salary conversation with a company, students should prepare by having market information for the industry, level and background they bring to a firm. In addition, work location matters as compensation packages differ greatly between world regions.

Employers surveyed in 2014 expect their new MBA graduate hires to have a median of four years of prior work experience, double the number of years of prior experience employers expected from non-MBA masters graduate hires with specialised masters degrees in accounting, management or finance.

Median base salaries employers expect to offer MBAs in 2014 are $95,000 in the US and $87,000 in Western Europe ($69,000 for all of Europe) compared with $50,000 for US bachelors graduates and $41,000 for European bachelors graduates.

Projected median MBA base salary in APAC is $21,340, reflecting much lower per capita income in the region.

Making the most of the hiring process by Christophe Lejeune and Michelle Sparkman Renz

EFMD Global Focus: Volume 08 Issue 03 | 2014

FIGURE 2: EXPECTED 2014 STARTING SALARIES FOR RECENT BUSINESS GRADUATES,

BY CANDIDATE TYPE* AND WORLD REGION** 25TH PERCENTILE

US DOLLARS (IN THOUSANDS)

$120

MEDIAN

75TH PERCENTILE

$104

$104

$100

$104

$104

$95

$85

$85

$104

$80

$73

$80

$69 $60

$55

$63

$57

$52

$50

$40 $41

$41

$41

$60

$38

$20 $41K MEDIAN BACHELOR’S

$50K MEDIAN BACHELOR’S

$0 MBA

MiM

MAcc

MFin

EUROPE

MBA

MAcc

*Programme abbreviations: MiM – Masters in Management, MAcc – Master of Accounting, MFin – Master of Finance.

Data not shown for MiM in the US due to limited responses N<25. **Employers reporting salary data for Europe are located in the following countries in Western Europe (Austria, Denmark, Finland, France, Germany, Greece, Ireland, Luxembourg, Norway, Portugal, Spian, Switzerland, and the UK) and in Eastern Europe (Czech Republic, Hungary, Moldova, and Russia).

MFin

UNITED STATES

Source: GMAC (2014) Corporate Recruiters Survey

Conclusion The limited contact between MBA job candidates and employers in recruiting interactions is a perennial challenge. And with student and recruiter efforts on job placement starting well before a student’s graduation, these ideas inspired by findings in the 2014 Corporate Recruiters Survey can make key aspects of the MBA job search more productive and efficient.

This article suggests that interactions between students and companies prior to graduation are becoming increasingly important for effective recruitment. Successful internships can potentially create job opportunities for more students as satisfied recruiters return to campus looking to engage talent. Furthermore, employer relations should include discussions of how students are performing in their work progress to see if their needs are being met and explore how a programme can better prepare students.

Although internships are highlighted here, other project-based pedagogic initiatives supported by business schools such as “consulting projects” or “market studies” are also opportunities for companies to meet and assess students while students can reinforce their professional background and communicate more easily about their past achievements in future recruitment interviews.

ABOUT THE AUTHORS

Michelle Sparkman Renz is an analyst and Director of Research Communications at the Graduate Management Admission Council (GMAC).

GMAC (gmac.com) is a nonprofit education organisation of leading graduate business schools and owner of the Graduate Management Admission Test® (GMAT® exam), the only standardized test designed expressly for graduate business and management programs worldwide.

Dr. Christophe Lejeune is a Research Advisor in the Research and Surveys Unit of EFMD and focuses on analysing quality and change in business schools.

Employer relations should include discussions of how students are performing in their work progress to see if their needs are being met and explore how a programme can better prepare students

GET INVOLVED Get your school’s recruiters involved in the survey Business school professionals can attend the upcoming panel discussion on Employers and Recruitment Strategy at the November 2014 EFMD Career Services Conference: efmd.org/careerservices.

Download the full 2014 Corporate Recruiters Survey Report at: gmac.com/corporaterecruiters.

Participate in the 2015 edition (sign up before February 2015) by registering at: gmac.com/surveysignup

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Mike Johnson offers some thoughts on the challenges facing business leaders tasked with managing our organisations today and tomorrow

Solving the global talent equation by Mike Johnson

EFMD Global Focus: Volume 08 Issue 03 | 2014

P

eter Lorange is angry. This well-seasoned academic, innovator and business leader thinks that it is high time a lot of his contemporaries woke up to the fact that the organisation has changed irretrievably – and do something about it!

Lorange’s concern is that too many organisations are not moving fast enough to keep up with the changes taking place in global society – most often driven by the digital explosion. “If we are going to be effective we must be able to really understand the modern consumer and come up with innovations that they value,” he says. “This is not easy.”

Lorange isn’t the only one who observes that we need to get a whole lot better at this.

When a third of employers globally cannot fill positions, it’s imperative that stakeholders expand their view of talent sources and incorporate strategies for attracting individuals with needed skills from across international border

Global people provider Manpower Inc say that we are at the dawn of what they term “The Human Age”. (See Moving People to Work. Leveraging Talent Mobility to Address the Talent Mismatch in the Human Age) Manpower Inc 2013.

[Manpower] think that “in the Human Age, companies must align their talent strategies with their business strategies to ensure they have the right people in place to grow and succeed.” However, getting that right isn’t going to be easy either.

So far, many organisational observers think that we have failed to do very much. Rudi Plettinx, Managing Director of Management Centre Europe in Brussels, notes that “although we’ve had all the processes in place time after time, in truth our developmental programmes have failed.”

He adds: “HR has never, ever become a real partner of the executive team – although there are a few exceptions.

As long as senior executives have been paying lip service and see these vital initiatives as just another HR process rather than a strategic leadership strategy process, I‘m afraid that effective talent management won’t really be on the radar screens of our C-Suite managers.”

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Plettinx speaks for many frustrated leadership experts when he continues: “HR failed to make this a strategic business issue with top management and so it has festered in the inner circles of an organisation’s HR community. Talent is not just about having the appropriate recruitment and retention strategy, it is also about an effective development strategy.”

The arrival of ‘talentism’ Manpower’s idea of a Human Age demands that the collective group of stakeholders collaborate to find new, innovative ways to operate in a world where people with the right skills are the scarce resource and “talentism” is supplanting capitalism.

It may be a lot to swallow in one go, talentism taking over from capitalism, but Manpower haven’t finished yet.

They further their case by noting that, “when a third of employers globally cannot fill positions, it’s imperative that stakeholders expand their view of talent sources and incorporate strategies for attracting individuals with needed skills from across international borders”.

And they conclude: “To win in the increasingly volatile world of work, all stakeholders must work together to find sustainable ways to unleash human potential, no matter where it comes from.”

But if we are to prosper in this highly complex environment where all stakeholders need to be – dare we say – manipulated, isn’t this just piling up more and more pressure on those at the top?

The answer to that would seem to be a resounding “yes”! And as Dave Altman and Roland Smith, two senior consultants from the Center for Creative Leadership, have pointed out, “globalisation has enhanced the complexity of the challenges faced by leaders at every level.”

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Altman and Smith report that in talking with senior leaders around the globe they rank the top four complex organisational challenges as: • The ability to lead and influence across multiple groups and challenges • How to define and communicate a clear direction for the future and create organisational alignment • Talent management: the recruitment, compensation, development, succession, human capital restrains and downsizing • Business operations and organisational performance All this indicates that a lot of senior business heads know of the problems, they just haven’t quite stitched it all together.

But complexity is now the name of the game, possibly why the loudest voices out there are advising us that we can’t do it alone – even big corporations can’t do it themselves. You’ve got to link up, you’ve got to partner. You’ve got to seek new solutions.

It’s a VUCA World The challenging global environment that Altman and Smith’s research reveals has often been termed the V-U-C-A world. A world that is volatile, uncertain, complex and ambiguous. Professor Paul Kinsinger of Thunderbird Management School in Arizona says that the keys to leading in a VUCA– driven world will be: • The ability to create a vision and make sense of the world • Understanding one’s own – and others’ – values and plans. Knowing at all times what you want to be and where you want to go – even while staying open to multiple routes to get there • Seeking clarity and sustainable relationships and solutions • Practising agility, adaptability and buoyancy (able to right yourself when you capsize!)

• Develop and engage social networks. To recognise fully that the days of the single great leader are past. In the new world the best leaders are the ones who harness leadership from everyone Swiss entrepreneur Peter Vogel, whose new book Generation Jobless will appear in April 2015, thinks that corporations, just like Altman and Smith suggest, have got some of the talent equation wrong already. “Today, highly educated top talents are less focused on a region. They search for their professional challenge in a global context these days, that’s why companies must fight harder to win and keep their top talents.”

And Vogel continues with a thought that may have some far-reaching consequences if he’s right. “To me this is the reason why the war for talent broke out, people looked around and had a lot more choice. The level of education is higher than ever and the war broke out because of the global context.

Today, it has become a whole lot harder for a company to present itself as an attractive employer.”

But it’s not just about choice. There’s another word out there that adds a lot of spice to the talent recipe mix – pressure.

Here’s Luc De Jaeger, the managing partner of the organisational consultants Nexum in Brussels on the talent issue.

“Today, my feeling is that in some industries a lot of effort has been made to become lean. This means that companies are asking more, much more, of fewer people. To achieve this, conversely, you need the very best people. At the same time younger employees are getting into top positions very quickly as a consequence of the erroneous idea that experienced people cost more while being less productive. This is another part of getting the talent equation all wrong.”

The acceleration trap If living in a VUCA world where the boundaries are constantly shifting is the big global, macro picture show, then the acceleration trap is the opposite – what individual companies face up to. It’s a real trap and one that many organisations fall into.

And it’s all about pressure – the wrong kind.

Professor Heike Bruch of the University of St Gallen in Switzerland says it is a journey, “between high performance and exhaustion.”

“Faced with intense market pressures, corporations often take on more than they can handle. They increase the number and speed of their activities (raise performance goals, shorten innovation cycles, create new organisational systems). For a while these succeed but all too often the CEO tries to make this furious pace the new normal.”

Bruch says that the acceleration trap catches out many an unwary business. “Not only does the frenetic pace sap employee motivation,” she says, “but the company’s focus is scattered in various directions, which can confuse customers and threaten the brand.” As a consequence, “exhaustion and resignation begin to blanket the company and the best employees defect.”

Solving the global talent equation by Mike Johnson

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simple; it should work like shark’s teeth – when one falls out another from the row behind moves into place.”

And that does offer yet another difficulty. For as he points out, “I have yet to come across a talent management programme that analyses external talent. Given that between a third and a half of all senior placements are from the outside of an organisation, this is extraordinary.”

Shay McConnon is the founder of People First and the creator of the online programme, “An Even Better Place to Work.” He uses his one-man shows to make people think more about not only their role in an organisation but the effect they have on their co-workers. McConnon’s view is that it is some of the very basics that we are still getting wrong that lie at the heart of organisational failure.

But this ability to let the organisation run away with itself and possibly self-destruct can have its origins in the fact that when it comes to leadership and talent we are still making the most basic of mistakes.

Search professional Anthony McAlister, of Thorburn McAlister, a boutique executive recruiter based in London, is disparaging about the way people are chosen to lead organisations. “Real talent management is tracking internal and external prospects simultaneously,” he says, “so when someone leaves you, not only do you know who you want, but you have reduced the time and cost of the process.”

McAlister continues by suggesting that a real part of the problems organisations face is that they are lazy about the talent process, often opting for second or third best because it’s just too easy to do that.

A lot of bad ideas London-based consultant and coach Richard Savage, who has had a long career in human resources in both Europe and the US, reckons that one of the key problems is that organisations continually fool themselves that all is OK when it is not.

“There’s an awful lot of bad ideas around,” he says, “and we often miss out on what I call the ‘human factors’ of candidates because of that.”

Search professional McAlister says that “all too often hiring becomes necessary as a result of a failure or an unplanned event. So what organisations need is a way of improving their bench strength against those bad days.” McAlister suggests that “talent management is an art not a science. The idea is

“All the evidence suggests that we are not good at our relationships, in either our personal or professional lives. The greatest source of inefficiency for most organisations lies in working relationships – conflict, mistrust and lack of collaboration,” he argues.

McConnon believes that it is the failure of top management to recognise these basics that is holding us back. It isn’t the complexity of today’s business that most worries him, it is the inability of individuals and teams to work together effectively.

“To minimise wastage in working relationships, we need to be talking to each other – simple as that,” he explains.

A list for action The implications for how businesses organise themselves to engage and motivate employees in the workplace of tomorrow are huge. And it would seem it can be tackled in a variety of ways. Truth to tell, it probably will have to be.

These complex structures that we are now having to manage (and they don’t have to be giant employers these days either) are going to need a lot of very careful management and leadership.

Many, it would seem, think that a lot of today’s leaders need to go further, try new ideas, engage with the people inside and outside the organisations better. Whether we can do that or not will certainly decide who succeeds and who fails in the worldwide workplace of tomorrow.

FURTHER INFORMATION

This article is an edited extract from The WorldWide WorkPlace: Solving the Global Talent Equation by Mike Johnson, published by Palgrave 2014 http://www.palgrave.com/page/detail/the-worldwide-workplace-mikejohnson/?K=9781137361264 ABOUT THE AUTHOR

Mike Johnson is a future-of-work author, commentator and consultant.

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PhDs are increasingly under scrutiny for being ‘irrelevant’ and ‘lacking impact’. But given the right tools, Simon Linacre believes that they still have much to offer

How might the PhD develop in the digital age? Some think the PhD’s days are numbered, but I believe that there are one or two initiatives that may prove the doubters wrong

Doctor Doctor: Reinvigorating the PhD by Simon Linacre

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t may surprise some to know that the PhD, as it is today, only goes back to the 19th Century.

As a result of education reforms in Germany it was established by Humboldt University, Berlin.

Similarly, the vision of higher education offered by the undergraduate, master and PhD levels was only developed in the US in the late 1800s.

This information was provided by Wikipedia and as such is not necessarily reviewed and corroborated for authenticity. It does however; provide an apt way to start a discussion on the status of the modern PhD. And more importantly, how it might develop in the digital age. Some think the PhD’s days are numbered, but I believe that there are one or two initiatives that may prove the doubters wrong.

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In recent years the ODRAs have enjoyed significant success – the most recent awards in 2013 attracted 525 submissions from 78 different countries – an increase of more than 100

Academy awards One such initiative is the Outstanding Doctoral Research Awards, jointly supported by the European Foundation for Management Development (EFMD) and global publisher, Emerald Group Publishing.

The awards – commonly known as the “ODRAs” – were conceived in the early 2000s as a way for EFMD and Emerald to recognise and promote emerging, high-quality PhD theses. Recent PhD graduates may submit a summary document of fewer than 2,000 words succinctly describing their PhD research. In order to bring out the more impactful elements of the research, submissions should highlight the following elements: • Significance/implications for theory and practice • Originality and innovation • Appropriateness and application of methodology • Data and findings The submissions are judged by Emerald editors from its sponsoring journals in the business and management research portfolio (see box page 50.

Winners in each category are awarded a cash prize of €1,500, along with a certificate and winner’s logo.

Winners are also encouraged to follow up their success by writing up their research and submitting it to the appropriate sponsoring journal subject to normal peer review protocols.

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Celebrating success In the early days of the awards, there was some variance in the interest they provoked in researchers, mainly depending on the category. However, in recent years they have enjoyed significant success. The most recent awards in 2013 attracted 525 submissions from 78 different countries – an increase of more than 100 on the total submissions the year before allied to a much greater international coverage.

This supports the hypothesis that not only is the reach of organisations such as EFMD growing but also that much of the vibrant new research that has demonstrable impact is happening outside the established bastions of management education in Europe and North America.

What is notable about the submissions over the years is what they have signified for the development of postgraduate researchers’ careers. Emerald is, of course, only able to access its own data and the figures across all publishers will probably be even more impressive. But of the 980 ODRA submissions in 2010-2012, their authors went on to publish 437 articles in Emerald’s journals, 70 book chapters and 62 case studies. Other achievements include: • 70 authors won awards with Emerald • A further 31 were highly commended or runners up • 38 authors became Editorial Advisory Board members of journals • 20 were invited to become Editors or have senior editorial roles

980 20 Of the 980 ODRA submissions in 2010-2012, their authors went on to publish 437 articles in Emerald’s journals, 70 book chapters and 62 case studies...

...and 20 authors were invited to become Editors or have senior editorial roles

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Human faces With a blizzard of such figures, it is easy to forget the real stories behind these achievements. Notable among these is the story of Yuxian Liu, who followed the sage direction of a recently graduated PhD student and ODRA winner, Liang Liming, to win her own award in 2011 (see box page 51). In a world of performance management data and research analytics, it is worth remembering that such engagement with doctoral students is actually a key driver to help academics of the future emerge.

Future of research impact While the award winners listed here are notable for their academic achievement, there is a wider question regarding the future of management research and, indeed, even its validity and value.

A recent article in Global Focus by Marco Busi (Volume 8 Issue 1, January 2014), from his book Doing Research That Matters: Shaping the Future of Management, published by Emerald) proposes a new model for enhancing the value of research and seeks to stimulate a debate so that its importance is not left to slide down the list of priorities of governments.

EFMD is seeking to address the concerns over wider impact by launching its Business School Impact Survey, which enables institutions to assess the extent and nature of their impact on the city or region where they are located.

“It is a service for any business school anywhere in the world that is interested in collecting key statistical data on its impact,” says EFMD CEO and Director General Eric Cornuel. “Once collected, this information can then be used both internally and externally with key stakeholders to widen the debate about ‘the role of business schools in society’ and showcase the enormous added value they bring the community.”

Such developments are reflected in other major initiatives in Europe and the rest of the world.

The well-documented Research Excellence Framework (REF) in the UK has gone through its first cycle of submissions from higher education institutions (HEIs) with results to be announced at the end of 2014.

For the first time, HEI submissions had to contain impact case studies on their research activities, which will contribute 20% of the final award made of total government research funding for the next half dozen or so years.

In the UK the Association of Business Schools (ABS) has also sought to support the impact agenda through their development of the Small Business Charter (www.smallbusinesscharter.org), which it says is “designed to recognise business schools with exceptional levels of engagement with SMEs”.

This together with changes to AACSB accreditation standards in 2013 and heightened levels of awareness of impact in countries such as Australia and New Zealand show that there is substantial impetus for the impact movement for business schools and other HEIs globally.

20% For the first time, HEI submissions had to contain impact case studies on their research activities, which will contribute 20% of the final award made of total government research funding for the next half dozen years

ODRA SPONSORING JOURNAL SUBJECT AREAS: EDUCATIONAL LEADERSHIP AND STRATEGY HOSPITALITY MANAGEMENT HUMAN RESOURCE MANAGEMENT INFORMATION SCIENCE INTERDISCIPLINARY ACCOUNTING RESEARCH KNOWLEDGE MANAGEMENT LEADERSHIP AND ORGANISATION DEVELOPMENT LOGISTICS AND SUPPLY CHAIN MANAGEMENT MANAGEMENT AND GOVERNANCE MARKETING RESEARCH OPERATIONS AND PRODUCTION MANAGEMENT HEALTHCARE MANAGEMENT

Doctor Doctor: Reinvigorating the PhD by Simon Linacre

EFMD Global Focus: Volume 08 Issue 03 | 2014

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Future perfect This movement looks set to continue, particularly with the recent announcement by the Dutch government that it, too, was looking to implement impact-based measurement to decide some of its direct funding to higher education research.

And, of course, looming large is the increasing influence of the €80 billion in the Horizon2020 kitty for EU research, which includes impact-focused criteria to determine successful submissions.

Simply put, the bigger the stick and carrot used to both beat and incentivise business schools into realising the wider implications of the research they facilitate the more they do so and the more marginalised established metrics such as citation levels and Impact Factors will become.

Which brings us back to a relatively small award scheme that, at its inception, sought simply to enable recently graduated PhD students to make explicit the wider impact of their research in established business and management disciplines.

Perhaps its growing success is linked to the wider support for the impact agenda but the hope is that its continued support of PhD research in business schools will also lead to a second century of the revered philosophiae doctor.

WINNER’S STORY In 2007, Liang Liming, a doctoral student of Professor Ronald Rousseau, won the prestigious Emerald/EFMD Outstanding Doctoral Research Award. Her inspiration had a long-lasting effect on a colleague, Yuxian Liu, from Tongji University in China.

Yuxian Liu says...

I had just began to pursue my doctoral programme and Liang said to me that we were both lucky to have a great supervisor and that under his guidance my doctoral thesis would also be excellent. Four years later, her encouraging words came true and I too won the Emerald/EFMD ODRA. I believe that all dreams will come true one day… And then, I got more than I dreamed of: an international prize on top!

EFMD is seeking to address the concerns over wider impact by launching its Business School Impact Survey, which enables institutions to assess the extent and nature of their impact on the city or region where they are located

ABOUT THE AUTHOR

Simon Linacre is the Business Development Manager at global publisher, Emerald Group Publishing Limited. Based in West Yorkshire in the UK, Linacre has published on journal metrics and research impact in scholarly journals and has presented on these topics at international research conferences.

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THE NEW APPROACH TO GROWTH AND PROFITABILITY THAT BUSINESS SCHOOLS NEED Peter Lorange and Jimmi Rembiszewski argue that business schools must react more urgently to a new type of student

Great to Gone: The new approach to growth and profitability that business schools need by Peter Lorange and Jimmi Rembiszewski

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vidence from business suggests that we are faced with an entirely new class of consumers – the IT-fluent multitaskers – and that these may require a different set of innovations behind the products and services they appreciate – prestige brands and quality rather than low cost.

In addition, the way of communicating with this group of consumers is different – via social media rather than traditional ads in printed media and on TV. We have documented this in our new book From Great to Gone, Gower, 2014.

There are also lessons here for business schools. Today’s emerging student is analogous to the new consumer – IT-literate and with more focus on quality and relevance rather than on low cost, though often they are looking at and comparing subsidised public-sector offerings.

This breed of new student typically combine studies with their full-time jobs – and so demand flexibility and modularity in curricula and more extensive use of IT-based studies of the basics at home. For example, some courses may be taken entirely via MOOCS and others at various, different, business schools.

Relevant innovations, as seen through the eyes of this emerging group of students, would have to focus on what they see as “cutting-edge”, both from a theoretical point of view as well as practical relevance. Typical emerging offerings might be cross functional as, for example, the new inter-face between finance/behavioural sciences/IT or between strategy and behavioural sciences or between marketing and product development. Innovation in both research and pedagogy will also be called for.

Coming up with irrelevant innovations, on the other hand, can often lead to a worsening of an academic institution’s performance. The modern student expects to discuss emerging key current dilemmas in class – learning from fellow students as well as from faculty. Basics, on the other hand, most modern students are ready to study at home via IT-based learning and support.

We identify three specific innovations that tend to be appreciated by modern students and executive participants in business school programmes: relevance; pedagogy; and flexibility

Typical emerging offerings might be cross functional as, for example, the new inter-face between finance/behavioural sciences/IT or between strategy and behavioural sciences or between marketing and product development

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Relevance What is important is to be able to offer modern students/participants the most relevant offerings, ideally of the types that they may apply in their professional lives. Such cutting-edge offerings might typically be delivered by a relatively broad spectrum of experts/lecturers – not only academic professors but also consultants and practitioners. Typically these come from many sources and to rely primarily on in-house professors would tend to lead to a too-narrow set of offerings, which are often also more or less out of date.

Pedagogy Relatively small classes focusing primarily on current dilemmas can create a significant increase in what is being learned.

The classroom typically has a level floor with participants seated around tables of about seven individuals with a maximum of five tables.

The professor provides an opening lecture of some 20 minutes with a maximum of five visual aids. The tables of participants/students then debate the issues for about 20 minutes followed by another 20 minutes of plenary discussion under the leadership of the professor. Experience indicates that in two days spent this way one might be able to cover up to perhaps five days of traditional learning.

In addition, team work should be a major part of the learning experience. This is, after all, what they will need in their in real working lives. Work is no longer about the lonesome genius but about how you interact and contribute in a diverse team.

Technology must be part of today’s teaching since it’s the students’ language and they feel comfortable with it.

5

The classroom typically has a level floor with participants seated around tables of about seven individuals with a maximum of five tables...

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...the professor provides an opening lecture of some 20 minutes with a maximum of five visual aids. The tables of participants/ students then debate the issues for about 20 minutes followed by another 20 minutes of plenary discussion under the leadership of the professor

Finally, we should try to broaden any lecture to a global perspective, which again is critical for modern business. And all lecturers must have global experience.

What is important is to be able to offer modern students/participants the most relevant offerings, ideally of the types that they may apply in their professional lives

Great to Gone: The new approach to growth and profitability that business schools need by Peter Lorange and Jimmi Rembiszewski

Flexibility Today’s participants and students usually have good jobs already. They expect relatively short, concentrated classsessions – let us call them workshops.

And, to prepare for these intensive workshops they will cover the more basic materials via computer-based learning at home. The net result is they are offered a flexible learning approach – and it is up to each of them to decide the speed of progression in his or her studies.

Above all, the modern student prefers to learn about all of this through searching the web rather than by reading brochures. The emerging, critical role of the web and social media is, of course, well known. What is important is to demonstrate that one is able to implement relevant innovations fast and avoid any bureaucracy. Often, this modern student will also have questions – even suggestions for improvement. A school must be ready to handle this – through a rapid, non-bureaucratic response.

The modern business school student is entirely comfortable with modern communication vehicles – the web, apps and so on…This implies several advantages that this target group take as given: • Individualised messaging • Speed • Up-to-date messages

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What are the implications of all this?

We feel that a business school that gets all of these dimensions “right” – a focus on the relevant emerging set of students; coming up with rapid innovations that these students would appreciate; and communicating to them via social media – will be able to attract more students who also are willing to pay; meaning growth in the top line and the bottom line.

Many academic institutions are currently struggling with a weak economic model. We feel that this may be largely due to irrelevant offerings. The approach outlined here should contribute towards rekindling the spirit of purpose for many schools that are presently struggling – and are about to face more difficult times.

They may thus see brochures and traditional ads as signs of irrelevance.

It follows that a school’s web page is becoming critically important.

In particular, it must be updated on a regular basis.

Many academic institutions are currently struggling with a weak economic model.

We feel that this may be largely due to irrelevant offerings

ABOUT THE AUTHORS

Dr Peter Lorange is Chairman / CEO of Lorange Institute of Business Zurich and former President of IMD Lausanne.

Jimmi Rembiszewski is former global marketing director and member of the board, British American Tobacco

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DANIEL GUNNARSSON

BUSINESS SCHOOL LIBRARIES – WHERE NEXT?

DANIEL GUNNARSSON DESCRIBES THE MAJOR CHANGES THAT TECHNOLOGY HAS MADE POSSIBLE IN BUSINESS SCHOOL LIBRARIES AND SPECULATES ABOUT OTHER CHANGES THAT ARE STILL TO COME

G L OB A L FOCUS 2 0 1 4

Business school libraries – where next? by Daniel Gunnarsson

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s far as I am aware there has not been much discussion about business school libraries in Global Focus. This is rather remarkable since technological change has had a major impact on library resources and services.

This change has significantly influenced how business schools researchers manage their access to scholarly publications and has also had an impact on how teachers select reading materials for their students. This article hopes to share some of the major changes in business school libraries that have already been implemented and also provide my views on what the future might bring. It will focus on four different themes: collections; technology; services; and the librarian.

Collections – from printed books to e-resources For many people the library is still a place filled with printed books. That is in fact still true though it is not the whole truth.

Behind the shelves of printed books there is a world filled with e-books available from the cloud. E-books create lots of advantages for the library and readers – simultaneous usage, no shelving, no weeding, deep searching within the whole text of the book, and 24/7 availability from all over the world – and no need to carry them around.

So, is the printed book on the road to extinction? If you ask me, no, not yet.

Here are some reasons why not: • The most popular textbooks still have a business model that makes it impossible for business school libraries to promote access (some of the most used are not even available as e-books) • Students and researchers still prefer a printed source for longer reading (at least in my experience) • Among many people the printed book is still the most familiar source of academic information and it is hard to change that perception • Finally, a printed book is very easy to browse and skip between different pages when you are reading

EFMD Global Focus: Volume 08 Issue 03 | 2014

However, in the future I expect the e-book to grow even more in importance over the printed book. Especially, books with a more focused content such as handbooks, anthologies and encyclopaedias are excellent as e-books since one only reads parts of them. In addition, books for complementary or supplementary reading will be sought out as e-books.

However, many questions will have to be solved regarding textbooks before a breakthrough can occur. Probably this will be managed outside the library, directly between the student and the publisher. As a concluding remark the shift from printed books to e-books has not, and will not, be as dramatic as the earlier change from printed journals to e-journals.

So, is the printed book on the road to extinction? If you ask me, no, not yet Regarding the development of collections (whatever the format), this is a delicate relationship between me (a subject librarian) and students and staff (in this case at Jönköping International Business School in Sweden – JIBS).

I hold a degree in business administration but it is still very important for me to co-operate on the development of the collection. Researchers, teachers and students can always send suggestions for acquisitions and I can already see developments towards patron-driven acquisitions (PDA). This will ensure that collections are developed in alignment with future research and education at JIBS. Technology – the ubiquitous library In the last decade major changes in technology have had an impact on business school libraries. One is the shift from printed resources to e-resources discussed above. But there are other examples that, in my view, affect the daily work of a librarian.

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First, “discovery tools”. You have probably all heard of, and used, Google Scholar.

This is a user-friendly service for locating academic materials on the Internet.

Today many digital archives are connected to Google Scholar, so that as well as searching, one can also access academic publications without charge. Many libraries also promote access to their subscripted materials through Google Scholar using OpenURL (read more below).

Other type of discovery tool are the different services libraries promote to access their own collections such as ExLibris Primo, SerialsSolutions Summon and EBSCO’s Discovery Service.

So, rather than making the user search for articles, books and e-materials in several different databases as in the past, discovery tools are a one-stop resource for all publications. This facilitates a direct and easy start for the information retrieval process, especially for students lacking experience of earlier information retrieval tools.

Another software tool that has made the process much easier for inexperienced library users is LibGuides from SpringShare. I use this software to make subject guides, in which I can direct students to specific databases, publications or other services.

A lot of embedded technology allows you to give annotations to links/ resources, set up RSS feeds, use proxy logins, embed videos, allow users to send feedback, and the possibility to integrate a chat function in every guide linked to the administrator/subject librarian.

Another major advantage is that, compared with librarians like me, the guides are accessible 24/7 from all over the world so the user can receive support at need. That has come to be very important today when most people are constantly connected through smart phones, tablets and laptops.

An OpenURL creates a seamless connection between searching and accessing subscripted material. This is very useful for the discovery tools mentioned above. And I can now see a tendency for more publishers to take advantage of the technology and use OpenURLs within encyclopaedias and handbooks. That really give e-resources an added-value compared to “old” printed sources since further reading lists and reference lists to important sources are easily accessible even for inexperienced library users.

© PHOTOGRAPHY COURTESY: PATRIK SVEDBERG HOOL LIB

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The disadvantage with OpenURLs is the labelling. Many users do not understand that what they are using is subscripted material managed from their library.

Instead, they believe that everything is freely available through the Internet and it may come as a shock when they leave the business school and realise they no longer have access.

Business school libraries – where next? by Daniel Gunnarsson

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Another aspect of giving access to lots of e-resources is the ability to promote remote access. Since we use a proxy server every researcher and student wherever they are and whenever they want can, via an Internet connection, access subscripted library resources.

Another aspect that I think will grow in importance in the future is the ability to support and offer services to alumni.

Restricted access to subscripted material is a limitation but I still think that there are many other services we can promote in order to support former students.

This increased availability has increased the usage of e-resources and will hopefully also increase the productivity of the user. Blended learning and carrying out research off-campus is nowadays “business as usual”.

One example is social media as a tool to share new interesting research, published Open Access (OA) or blogs, newsletters and so on. Our service to alumni is one of the things I will take a closer look at in the coming year since it is a matter of bringing competitive advantage to JIBS and added value to students.

The next development that will affect how libraries promote their services are different kinds of mobile services, more specifically, different forms of mobile apps for smartphones and tablets. It is hard to predict which forms they will take but commonly used services such as renewals, requests, contact information, reminders and more are likely to be dominant.

Services – the social library While many of the new services offered by business school libraries discussed above are based on new technology some are emerging that are not based on technology.

A few years ago Jönköping University Library started a “breakfast” activity for doctoral students. This is a social event where all questions are welcome not just those about library services and resources. At every session a member of the library staff gives a short lecture/ presentation on a current topic (publishing strategy, bibliometrics, e-resources and so on). This has been very successful and other researchers have shown an interest and we have started a “breakfast” event specifically for professors.

The focus on publishing and bibliometrics has spilled over beyond the library. Much of our person-to-person services towards staff at JIBS are today concerned with these issues. They include questions on mapping research groups, evaluating research centres and departments, looking at citation data, setting up alerts and so forth.

For students, library premises have become a place for study and socialising.

It is not only a place for books and journals. We give access to group rooms (highly used after the shift towards more case-based education), quiet study rooms and more open study places within the library. In the past, the library was a place for professors.

Today it is the “living room” for students.

The librarian – revitalised During the last decade most libraries have been occupied with changes in technology and the implementation of new tools. Fine. But now I think it is time to shift focus and start to revitalise the librarian! Our professional role has changed as much as the technology but there is still much to do if our services are to be in demand in the future.

As discussed above, researchers have an increased need for support regarding publishing. That is an excellent field for us to be useful in and become a partner.

Setting up digital archives, making sure options for parallel publishing are recognised, different forms of evaluating research, helping researchers select proper publications are all areas where librarians can be of increased use.

Librarians have to find new roles. Passive work with collections (buying and weeding) will still have to be done but on a smaller scale and in combination with discovery tools, subject guides, PDAs and e-resources. This will hopefully free up time to be more proactive.

How can we use that time effectively?

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One important way is to develop more high-quality user education and guidance that is fully integrated into subject courses.

I have been taking courses at JIBS and developing my own subject knowledge.

That also creates good networks with teachers/researchers and the possibility of “shadowing” students to learn about their behaviour and information retrieval plus gaining insight into the collections’ strengths and weaknesses.

I can then use this information for planning educational assignments, updating subject guides and making complementary purchases for the collections. Working as an “embedded librarian” gives me direct access to a lot of hidden knowledge that I never would have explored otherwise.

Another area I have been working with in the last couple of years is social media. This is not a social tool for me, it is a marketing tool. I use it to promote information about new books and e-books with links to the library catalogue or directly to the full text. I share information and research from journals and blogs that could be interesting for students and researchers. In addition, practical tips on publishing, conferences and things going on at JIBS can be shared.

Paper.li is for me a new and excellent software that allows you to create daily newspapers with interesting information automatically gathered from twitter feeds and/or through a selection of hashtags.

For me this is an interesting development since it allows me as librarian to go from directing to creating sources for the user.

To be more proactive and promote knowledge is really a possibility for future librarianship.

To paraphrase some business jargon I consider myself more as a Key Account Manager than a librarian, working for JIBS in the library!

ABOUT THE AUTHOR

Daniel Gunnarsson (aka “BusinessLib” on social media sites) works as a subject librarian within Business and Economics at Jönköping University Library, Sweden

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Andrew Rutsch explains how Italian banking group UniCredit turned to strategic leadership and new ways of working in a bid to drive organisational growth

Strategic Leadership and New Ways of Working to Drive Growth â&#x20AC;&#x201C; the UniCredit Approach

The current economic situation continues to pose new challenges for the banking sector. It must remake itself into a driver of the real economy â&#x20AC;&#x201C; and it must be able to meet the needs of society while maintaining sustainable operations

Strategic Leadership and New Ways of Working to Drive Growth – the UniCredit Approach by Andrew Rutsch

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n today’s fast-paced environment, organisations and even whole industries are challenged with seismic shifts. Companies such as Kodak, Merrill Lynch and General Motors, once industry icons, are now bankrupt, acquired or stumbling.

Against this background, the recent EFMD CLIP Sharing Best Practice Workshop hosted by Italian banking group UniCredit in Turin, Italy, in March at its inspirational UniManagement corporate learning center showcased a variety of approaches and practices that drive development outcomes.

A larger theme emerged during the day-long workshop: the role and impact of strategic leadership and new ways of working in the pursuit of organisational growth. Put more concretely, this focused on how UniCredit’s senior management engages organisational members and clients around shared goals and needs to drive collective development and performance.

Banking is not anymore what it used to be The banking sector has undergone substantial changes accelerated by the financial and economic crisis of recent years – and is expected to continue doing so. In particular, a number of drivers have affected banking: • increasingly strict regulations by governments and transnational bodies • greater competition through globalising banks that drive market consolidation • socio-demographic changes through the arrival of Generation Y with its new values • new technologies that are reshaping how organisations are steered and operated For example, the World Retail Banking Report 2014

by Capgemini and Efma found (for the first time in three years) a decline in customer experience. This was particularly true among Generation Y members, who comprise up to a third of the population in many markets, who value technology and who represent the largest user base of social media. It is a wakeup call for banks to rethink how they use technology in building a personalised customer relationship.

Given these market shifts, banks have to adapt their value chains to increase their responsiveness. They are reworking services, channels and systems to increase interaction with all value chain partners from suppliers and customers to media and regulatory bodies. Against this background, MIT’s Principal Research Scientist, Andy McAfee, believes that “we haven’t seen anything yet” and that the impact of digital technology will be transformational.

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UniCredit has performed remarkably well in this troubled macroeconomic setting, it is a rock-solid commercial bank with a European network across 17 countries...

8.9k

...over 8,900 branches and more than 147,000 employees

23m

In 2013, it posted an operating income of €23,973 million and disposed of a number of legacies such as loan loss provisions, allowing it to focus on increasing its business and profitability

EFMD Global Focus: Volume 08 Issue 03 | 2014

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UniCredit responded through a decisive strategy What actions did UniCredit take to address these issues? In 2010, it shifted its focus to its core business, commercial banking, and thus anticipated a trend gradually spreading across the industry. It has realised its strategy through a set of concerted measures: • strategically aligned operations by newly defined customer segments and reinforced regional management around one profit & loss per country; • Strengthened relationships with family and business customers and introduced an integrated service model across a wide range of channels • Simplified its organisation to drive operational efficiency and faster decisions and enhanced its governance to better respond to regulatory changes UniCredit has performed remarkably well in this troubled macroeconomic setting. Today, it is a rock-solid commercial bank with a European network across 17 countries, over 8,900 branches and more than 147,000 employees. In 2013, it posted an operating income of €23,973 million and disposed of a number of legacies such as loan loss provisions, allowing it to focus on increasing its business and profitability.

Driving the real economy requires leading and collaborating differently The current economic situation continues to pose new challenges for the banking sector. It must remake itself into a driver of the real economy – and it must be able to meet the needs of society while maintaining sustainable operations.

In response UniCredit is setting itself ambitious goals for the future, in particular to become the top-rated bank in Europe for quality of service by leading the industry in areas such as multichannel offerings, particularly in digital banking.

It believes that realising its goals requires a longterm, multi-stakeholder approach to every area of its activity: • commercial banking – by improving its business model and competencies in order to work more closely with customers and meet their needs more effectively • corporate citizenship – by using its expertise to nurture the economic participation of all people and conserve natural resources • philanthropic initiatives – by supporting programmes that go beyond a bank’s traditional scope and respond to basic social needs, especially in times of crisis

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Such an approach depends on a cultural shift how internal and external key stakeholders are engaged in creating outcomes beyond the firm’s bottomline. Here, the management of risk is a critical cornerstone. It improves collaboration within the organisation to drive behaviours in line with the needs and objectives of the Group and its customers.

Case in point: P Squared, a new way of leading and working To reinforce this change in business strategy and practice, UniCredit’s leadership and its UniManagement team have created amongst a series of measures an innovative practice: P Squared (P2) so called because of its focus on “performance and people”.

P2 is a facilitated process (see Figures 1 and 2 page 63) that brings managers and staff together to align and work on improving client-oriented capabilities and performance. It leverages the strategic focus and support of senior management in conjunction with the power of peer-to-peer exchange across entities in solving real-time issues of professionals in the field. It has been featured in a case study of Harvard’s Learning Innovations Laboratory (LILA).

This approach is grounded in the observations of an anthropologist who had been brought in to the firm.

She found that many managers at UniCredit believed their role was to solve problems; they were not equipped to guide their people’s development and performance improvement. In addition, she noted that “learning” was perceived by them to be not very appealing and language such as “performance gaps” and “competencies” created defensive behaviours and undermined people’s confidence in challenging themselves and trying new things.

Despite initial scepticism, those employees involved reported that sharing and feedback strengthened their level of competence, confidence and performance and enhanced collaboration. Also, a control group study has shown material impact on business metrics such as sales of personal loans, cross-selling or investments from customer portfolios during the pilot phase with 450 people involved in more than 30 districts in Italy (Simioni 2013).

P2 is an encouraging practice that taps into the critical, often tacit knowledge held in different parts of the organization. Managers become direction setters and facilitators of collaboration that gets problems solved. It thus shows attributes of recent research into “Deliberately Developmental Organizations” (Kegan, Lahey, Fleming & Miller 2014) and reinforces the firm’s change process: from micro behaviours to the deeper cultural change.

Creating first results: Internal and external impact This change in strategy, leadership approach and ways of collaborating across organisational levels and boundaries has led to some initial impacts: Internal impact • A 30% leaner bank, simplified operational procedures and more decision-making powers devolved to country operations • A greater authority for front-line bankers in dealing directly with clients • A shifting culture that more actively engages employees and drives sound behaviours in creating shared value for the Group and clients External impact: • Clients are able to access bank services through a larger number of channels and benefit from expanded advisory tools and services • UniCredit was recognised in 2013 through seven financial innovation awards and a special recognition as the “Innovative Broker of the Year” • Customer satisfaction is rising to levels not seen since before the crisis, even in Italy where considerable difficulties had to be addressed.

450

A control group study has shown material impact on business metrics such as sales of personal loans, cross-selling or investments from customer portfolios during the pilot phase with 450 people involved in more than 30 districts in Italy

30% Internal impacts included a 30% leaner bank, simplified operational procedures and more decision-making powers devolved to country operations

Despite initial scepticism, those employees involved reported that sharing and feedback strengthened their level of competence, confidence and performance and enhanced collaboration

Strategic Leadership and New Ways of Working to Drive Growth – the UniCredit Approach by Andrew Rutsch

Going forward – strategic leadership and collaboration that drive real outcomes The UniCredit approach illustrates the importance of getting the big picture as well as the social process right. (The social process is what drives – or all too often resists - firm renewal and performance.)

In other words, a change in strategy expected to shift the enterprise needs to be orchestrated and supported by focused leadership practices that systematically drive outcome-based collaboration across the internal and external value chain.

Fundamentally, this discussion points to managerial assumptions about how people and organisations develop and perform. Traditional practice is based on an individualistic paradigm rooted in scientific management. This has led to traditional top-down approaches that view people as resources, as human and intellectual capital that can be bought or built.

More recent innovative approaches are based on a socio-cultural perspective, which moves the attention from the individual to collective activity as the unit of analysis and recognises that people are impacted by - but can also influence - social systems and practices (Wortham 2003). This gives rise to a larger view that also considers relationships between people and systems from a social capital perspective.

Hence, in an increasingly more social, collaborative and transparent environment, the move to a more strategic approach to leadership, collaboration and growth is inevitable. It aligns the hard side of business strategy with the minds, hearts and actions of organisational leaders, members and external stakeholders in tackling shared needs and objectives.

EFMD Global Focus: Volume 08 Issue 03 | 2014

FIGURE 1: TOOLS – CO-WORKS, MICROTEAMS AND FACILITATION

PREPARATION MICROTEAMS

CO-WORKS TWO CONSULTANTS WITH THE CUSTOMER

FOUR TO SIX PARTICIPANTS (NO CUSTOMER)

MEETING WITH CUSTOMER

FOUR MEETINGS

THREE MEETINGS DEBRIEF

FACILITATION

Preparation: The managerial chain (Figure 2) is involved to define the business goals and focus of the intervention. Two people are paired to form a Co-works team and prepare a meeting with a customer. For this, they consult and exchange with a Microteam of colleagues around their problem statement and solution approach to increase their performance.

Meeting with customer: The Co-works team runs the meeting with the customer. This setting provides rich ground to test proven practices and experiment with new behaviours in order to gain first-hand experience and responses from the client around their performance.

Debrief: The “reflection” phase reinforces the role of giving and receiving feedback between the Co-works and Microteam. It allows looking back at the initial problem statement and solution, how they brought it to life and the impact on the client.

FIGURE 2: SETUP PHASE – INVOLVING THE MANAGERIAL LAYERS

ITALY COUNTRY CHAIRMAN

REGIONAL MANAGER 1

REGIONAL MANAGER...

REGIONAL MANAGER 7

REGIONAL MANAGER CHOOSES: • BUSINESS GOALS • COMMERCIAL AREAS

COMMERCIAL COMMERCIAL COMMERCIAL AREA MANAGER AREA MANAGER AREA MANAGER 1 ...

(77)

DDD MANAGER (MORE THAN 700)

DDD MANAGER

ABOUT THE AUTHOR

Andrew Rutsch is a consultant to Capgemini University and following an Executive Doctorate on “Strategic Leadership, Collaboration and Growth of Knowledge-Based Organisations” at the University of Pennsylvania in the US. He is co-founder and -facilitator of the EFMD Learning Business Partner Special Interest Group and author of several publications on enterprise learning and growth.

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AREA MANAGER CHOOSES: • RELEVANT BUSINESS GOALS IN ITS AREA • DISTRICTS ON A VOLUNTARY BASIS DISTRICT MANAGER CHOOSES: • SPECIFIC BUSINESS GOALS • KEY PEOPLE • COMPETENCES

....

FACILITATION

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Volume 08 | Issue 03 | 2014

EFMD Global Focus

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