Hanken Newsletter 03 2016

NEWSLETTER 3-16 FROM HANKEN SCHOOL OF ECONOMICS

Torget and Stugan – new entrepreneurial opportunities Hanken New Ventures started a couple of years back at Hanken in Vaasa. The aim was to boost entrepreneurship among our students and the ultimate goal was to inspire our students to found new businesses. From the start our alumni have been deeply involved in cultivating innovative business ideas and pitching business plans. Our expectations have been more than exceeded, but the number of new businesses is still moderate.

This spring we decided to take the same concept to Hanken in Helsinki and combine it with the business lab concept in the Arkadia building, set up by the Erling-Persson Center for Entrepreneurship last year.

Around the same time Hanken School of Economics signed an agreement with Suomen Yrittäjät ry - Företagarna i Finland rf. to boost entrepreneurship among our students and alumni. A strong indication of Hanken’s intention to do so is the initiative to create two meeting places for our students and alumni

with a common interest in entrepreneurship.

In October the new meeting places Torget in Helsinki and Stugan in Vaasa will be launched.

The planning process has been quick and the involvement of students high.

In the future my sincere hope is that Hanken through our alumni will be able to provide a share of the seed money for these set-ups.

Following an international model, invested seed money will correspond to a certain share in the set-up. When the enterprise is up and running the share will be sold and re-invested in new set-ups.

S Ö R EN KO C K DEAN

ONE-MILLION-EURO DONATION FROM THE ERLINGPERSSON FAMILY FOUNDATION During the opening of the 108th academic year of Hanken School of Economics, Rector Karen Spens published a one-million-euro donation from the Erling-Persson Family Foundation. As a result of the donation from the Swedish Erling-Persson Family Foundation, the fundraising campaign HANKEN RETURNS has now raised over 6 500 000 euro.

This is the foundation’s second donation to Hanken.

- We have observed how well Hanken has administered raised funds and the effects of this. The results show that donations to the university have direct effects on both education and research, as well as on the society at large. Research and development are absolutely crucial for the future of countries, and with this donation we hope to contribute to continued progress, says the Chairman of the Foundation, Stefan Persson.

THE 20TH MCGILL INTERNATIONAL ENTREPRENEURSHIP CONFERENCE Hanken School of Economics hosted the 20th McGill International Entrepreneurship Conference (MIE). The MIE conference is designed to bring together state-of-the-art research from the fields of entrepreneurship, SMEs and international business. The purpose is to analyse those patterns and forces which in the future will influence international entrepreneurship. Special sub-themes this time: how new business models can be generated in IE and how competition and a turbulent international environment affect IE. The conference was held on 23-25 August at Hanken’s Vaasa Department of Management. The conference chair consisted of, among others: »» »» »» »»

SUMMER SCHOOL WITH MAYS BUSINESS SCHOOL Mays Business School, Texas A & M University and Hanken offered a joint summer school 6-29 June 2016. The Summer School started with an introduction to Finland as a Nordic country by Tricia Cleland from Hanken. Mr Stefan Lindström, Counsellor at the Ministry for Foreign Affairs, discussed and compared business communication in the US and Finland and gave many practical examples from his career in Europe, Asia and the US. In addition to lectures and group work, they visited two companies and the Ministry of Finance. A total of 23 students from Mays’ and Hanken participating in the Summer School.

FINANCIAL TIMES’ RANKING LIST OF MASTERS IN MANAGEMENT

The second edition of Hanken Research Day in Helsinki was arranged in connection with Researchers’ Night on 30 September 2016. Researchers’ Night is an event held simultaneously in some 300 cities across Europe and neighbouring countries. The aim of the event is to bring science and research to the general public through workshops, research meetings and lectures. At Hanken 17 researchers shared their research in 15-minute presentations. The day was capped off by the formal installation lectures of professors Kristina Heinonen, Nari Lee, Topi Miettinen, and Denise Salin.

Hanken’s master’s programme has been ranked 69 in Financial Times’ annual Masters in Management ranking.

- We are delighted to be part of this ranking and see it as proof of Hanken’s master’s degree programme being competitive from an international point of view, says Rector Karen Spens.

In total there are some 15 000 business schools in the world. Of these, only 90 are ranked on the Financial Times list. Seven Nordic business schools and two Finnish business schools have made it on the list. The Top 3 consists of University of St. Gallen (1), HEC Paris (2) and Essec Business School (3).

Professor Sören Kock, Hanken School of Economics Professor Hamid Etemad, McGill University, Canada Professor Sarah Jack, Lancaster University Management School, UK Professor Maria Bengtsson, Umeå School of Business, Sweden.

START IT UP! – ENTREPRENEURSHIP WEEK FOR ASYLUM SEEKERS Start It Up! is an entrepreneurship week for asylum seekers interested in starting a company in Finland. The week-long event was organised by Startup Refugees and the Student Union of Hanken School of Economics (SHS) and took place 5-11 September 2016 in Helsinki. Hanken students and lecturers participated in arranging workshops, seminars and networking opportunities as well as fun evening activities where business students and newcomers could get to know one another. The week culminated in a pitching competition, where the participants worked together with Hanken students to develop and pitch their business ideas to a jury of experts.

NEW BOOK: SUPPLY CHAIN MANAGEMENT – PUTTING RESEARCH TO PRACTICE Hanken’s Rector Karen Spens and researchers Ira Haavisto and Gyöngyi Kovács have published a new book on Supply Chain Management. The book “Supply Chain Management for Humanitarians, Tools for Practice” provides an in-depth insight into the management of supply chains in the context of humanitarian logistics.

- The book goes through various crisis situations and disasters from a logistical perspective and provides a wide range of case studies from leading organisations such as Oxfam, UNICEF, the International Federation of Red Cross and the Red Crescent Societies, says Professor Gyöngyi Kovács.

HANKEN RESEARCH DAY

FULBRIGHT DISTINGUISHED CHAIRS APPOINTED TO HANKEN This autumn Hanken has received its first Fulbright Hanken Distinguished Chairs in Business and Economics 2016-2018.

- For Hanken this is an excellent opportunity to widen and deepen our own knowledge together with these five internationally acknowledged scholars. We look forward to welcoming them all into our research community, says Hanken’s Dean of Research Timo Korkeamäki.

The chairs are held by »» »» »» »»

Distinguished Professor James Stock, University of South Florida Professor Srinivas Talluri, Michigan State University Associate Professor John Broussard, Rutgers, State University of New Jersey Associate Professor Ruby (Pui Wan) Lee, Florida State University.

The holder of the Fulbright-Nokia Distinguished Chair in Information and Communications Technologies is Professor Carol Tenopir, University of Tennessee.

HANKEN NETWORK DAY

HANKEN AT A GLANCE

On Thursday 22 September, Hanken’s foyer was filled with Hanken’s partners and other interesting companies who are eager to network with both students and personnel.

The day was kicked off with breakfast for Hanken faculty and company representatives in Hanken’s cafeteria. The day also offered a fair with all the participating companies in the foyer and activities for the students, e.g. speed interviews, CV drop-ins and reversed interviews where the student posed questions to the hiring companies.

-The day was a success and the number of companies participating far exceeded our expectations, commented Erik Lund, Head of Corporate Relations and Career Services; he added that the reversed interviews introduced this year were very well received.

»» Founded in Helsinki 1909

NEW BILATERAL EXCHANGE AGREEMENTS

»» Marketing

Hanken has signed a new bilateral exchange agreement.

Our new partner is: The Hong Kong Polytechnic University Faculty of Business

»» Entrepreneurship, Management and Organisation

EF EDUCATION FIRSTNEW HANKEN BRANDING PARTNER Hanken’s Partner Programme has been strengthened by the addition of EF Education First as Hanken Branding Partner.

The Partner Programme at Hanken acts as a platform for developing long-term cooperation and interaction between companies, students, alumni and the School.

Hanken Premium Partners:

HANKEN IN FIGURES »» Operations also in Vaasa since 1980 »» Research and teaching in Swedish and English in five departments »» Number of students enrolled for bachelor’s and master’s degrees – 2412 »» Number of doctoral students – 122 »» Academic staff – 122

AREAS OF STRENGTH »» Economics »» Finance »» Management and Organisation

MAJORS »» Accounting »» Commercial Law »» Economics »» Finance »» Management and Organisation »» Marketing »» Supply Chain Management and Social Responsibility

MASTER’S DEGREE PROGRAMMES IN ECONOMICS AND BUSINESS »» Business and Management (Helsinki) »» Corporate Governance (Helsinki) »» Economics (Helsinki) »» Finance and Accounting (Helsinki) »» Intellectual Property Law (Helsinki) »» General Management (Vaasa)

EXECUTIVE EDUCATION »» Hanken Executive MBA »» Hanken & SSE Executive Education »» Hanken Executive Education Vaasa

VA A S A HELSINKI

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Hanken Branding Partners:

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